Cryptocurrencies Price Prediction: Crypto, PI & Bitcoin – European Wrap 4 August
|Crypto Today: Bitcoin eyes $118,000, Ethereum $3,800, XRP $3.30 as speculative demand builds
Cryptocurrency prices are broadly recovering on Monday in the wake of last week’s volatility and sell-off. Bitcoin (BTC), which plummeted to lows of $111,886 on Saturday, has regained momentum, approaching the short-term $115,000 hurdle.
Leading altcoins, including Ethereum (ETH) and Ripple (XRP), are also edging higher on Monday, backed by a gradual return of risk-on sentiment. The largest smart contracts token, ETH, holds above $3,500 support, as bulls push toward the $3,800 target.
Pi Network Price Forecast: PI diverges from crypto market recovery, risking further losses
Pi Network (PI) edges lower by around 2% at press time on Monday, diverging from the broader cryptocurrency market recovery, as selling pressure increases. The bearish sentiment prevails among PI investors as deposits surge on centralized exchanges (CEXs) alongside the Pi Foundation's offloading move.
Bitcoin tests support at 50-day MA
The crypto market rolled back at the end of last week following a reduction in risk appetite in the financial markets. However, on Sunday, sentiment changed with the return of active buyers near the total capitalisation of $3.60 trillion. At the time of writing, the market is at $3.73 trillion (+3.6%). Less than 10% of the top 100 coins show gains over 7 days, among which the largest are TRON (+2.2%) and TON (+4.5%).
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