Cryptocurrencies Price Prediction: Altcoin, Bitcoin & PancakeSwap – European Wrap 21 April

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Altcoin Season Beckoning: What's behind Sui, Stacks and Fartcoin price rallies?

The cryptocurrency market gains strength on Monday, led by select altcoins like Sui, Stacks (STX) and Fartcoin, following another round of instability in United States (US) markets caused by President Trump's administration's plan to shake up the Federal Reserve (Fed), and possibly fire Fed Chair Jerome Powell. The US dollar (USD) tumbles, with the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, hitting a three-year low, with markets interpreting the White House's direct attack on Powell as threatening the central bank's independence, FXStreet reported earlier today.

Bitcoin Price Forecast: BTC soars above $87,000 amid $500 million Bitcoin Reserve Bill debate on Wednesday

Bitcoin (BTC) price breaks and trades above its key resistance level of $85,000 at the time of writing on Monday after facing multiple rejections the previous week. Institutional demand shows mild recovery, as it recorded nearly $16 million inflow into Bitcoin spot Exchange Traded Funds (ETFs) last week. Moreover, the Texas Senate Bill 21 aims to establish a Strategic Bitcoin Reserve, with the Texas House set to debate it on Wednesday.

Why is PancakeSwap rallying today?

PancakeSwap (CAKE) breaks the downtrend and surges more than 3% on the day to exchange hands at $2.00 at the time of writing on Monday. The Decentralized exchange (DEX) native token tumbled to $1.52 on April 7 as United States (US) President Donald Trump’s tariff war wreaked havoc on global markets, including crypto.

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XRP approaches key support as risk-off sentiment deepens

Ripple (XRP) is trading at $1.06 on Monday, maintaining its position within a broader bearish trend. The token’s technical outlook continues to deteriorate, pressured by declining retail participation. Appetite for risk assets remains lethargic, as reflected in the Fear & Greed Index, which is embedded in the Fear territory at 28.

Crypto Today: Bitcoin, Ethereum, XRP extend decline amid renewed risk-averse sentiment

The cryptocurrency market remains weak on Monday, with Bitcoin (BTC) falling toward the nearest $62,000. Ethereum (ETH) and Ripple (XRP) reflect the sell-off across altcoins, edging lower toward $1,800 and $1.05, respectively. Risk appetite remains subdued, as the Fear & Greed Index holds steady at 28, deep within Fear territory.

The Bitcoin futures yield collapse: Once over 20%, now less than Treasury notes

Once a goldmine for carry traders, Bitcoin futures have flipped, consistently underperforming plain‑vanilla U.S. Treasuries every month since February. Carry trades consistently yielded 20% or more across regulated and unregulated crypto exchanges during the 2021 bull market. The strategy involved shorting Bitcoin futures while simultaneously buying a spot exchange-traded fund (ETF).

The crypto market is moving in the opposite direction to equities

The crypto market’s market capitalisation has fallen by 1% over the past 24 hours, returning to levels last seen in mid-July. The positive momentum the market showed in the first half of last week failed to take hold. Once again, we are seeing a negative correlation with the Nasdaq 100 index, this time in the form of falling cryptocurrencies while shares rise. Could this be becoming the new norm?

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.