Cryptocurrencies Price Prediction: Bitcoin, ApeCoin and Litecoin – European Wrap 12 December

FXStreet Team FXStreet

Bitcoin price cracks after rumors that massive selling occurred over weekend

Bitcoin price slid lower Monday after it lost ground over the weekend after the US Producer Price Index (PPI) numbers on Friday showed a slight tilt higher. However, the number was still lower than its last number, which was revised upwards, making the drop even bigger. Nonetheless, traders disregarded this and stayed bearish as the new number came out slightly higher than the median expectations, putting pressure on cryptocurrencies overall.

ApeCoin staking launches after massive anticipation, users stake Bored Apes and Mutant Apes on Binance

Ape Foundation opened staking for ApeCoin (APE), $30 million worth of tokens were deposited in the contract within the first 24 hours. Binance announced a staking program for users to stake their Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs and earn APE. The outlook on ApeCoin price is bullish, the target for the NFT token is the monthly high of $4.50.

Litecoin mega whales scoop up LTC ahead of volatility-filled central bank decisions week

Litecoin accumulation by large wallet investors has picked up pace prior to central bank decisions on interest rates this week. LTC whales scooped up 2.95 million Litecoin tokens worth nearly $220 million since the first week of November 2022.

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

Aave Price Forecast: AAVE surges as capital flows return to DeFi

Aave (AAVE) extends its rally, trading above $81 on Thursday after closing above its key resistance and surging more than 10% the previous day. The bullish move is supported by improving on-chain metrics, with USDT deposits flowing back into the protocol and strengthening its lending ecosystem.

Crypto Market Overview: Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.

XRP Price Forecast: Ripple and SBI Group partner to launch RLUSD in Japan

Ripple remains under pressure, trading at $1.06 after losing nearly 5% so far this week. Ripple and SBI Group partnered to launch RLUSD stablecoin in Japan following approval from the Japan Financial Services Agency on Thursday, but the move failed to lift sentiment.

Ethereum Price Forecast: ETH could see a 30% decline if history repeats

Ethereum (ETH) has fallen toward the $1,600 level, down over 3% on Wednesday as risk-off signs persist across key onchain metrics. The ETH Realized Price Lower Band, which has historically marked bear market bottoms for the top altcoin, suggests ETH has room for further downside before staging a proper upward move.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.