Cryptocurrencies Price Prediction: Crypto, Cardano & Bitcoin – European Wrap 17 July
|Crypto Today: Bitcoin recovery stalls below $120,000 as Ethereum, XRP rally gains momentum
The cryptocurrency market appears to be gearing up for a major run, evidenced by Ethereum (ETH) and Ripple’s (XRP) breakout in the last 24 hours. As Bitcoin’s (BTC) recovery stalled under $120,000 on Wednesday, the two leading altcoins extended gains above key resistance levels, suggesting potential capital rotation into mid and large-cap altcoins.
Cardano Price Forecast: ADA eyes further gains amid rising Open Interest, bullish bets
Cardano (ADA) ticks higher by over 7% at press time on Thursday, reclaiming the $0.80 mark and hitting a new over one-month high. Both the increasing bullish bets on Cardano and the ADA Open Interest crossing $1.40 billion reflect the upbeat sentiment among derivative traders. The technical outlook suggests a boost in bullish momentum that could potentially drive Cardano to the $1 milestone.
Bitcoin Price Forecast: BTC consolidates as traders eye potential catalysts from US legislative action
Bitcoin (BTC) hovers around $118,400 at the time of writing on Thursday, trading sideways between $115,000 and $120,000 as market participants await fresh catalysts. Traders are now focused on developments from the US legislative “Crypto Week”, where the lawmakers passed a procedural motion to advance crypto bills for deliberation. Meanwhile, institutional demand remains strong, with US-listed spot Bitcoin Exchange Traded Funds (ETFs) recording nearly $800 million in inflows on Wednesday, extending their positive streak since July 2.
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