|

Cryptocurrencies Price Prediction: Bitcoin, Aptos & Crypto – European Wrap 8 May

Bitcoin Weekly Forecast: $82K rejection raises doubts over BTC rally durability

Bitcoin (BTC) pauses its recent rally, trading below $80,000 on Friday with modest weekly gains, as it struggles to break above a key overhead supply zone. Institutional demand remains strong through Thursday, but rising geopolitical tensions in the Middle East and increasing profit-taking activity are capping further upside, leaving the Crypto King vulnerable to near-term pullbacks.

Chart

Aptos Price Forecast: Rally extends to fourth day amid $50 million commitment for ecosystem development

Aptos (APT) trades above $1.00 on Friday, extending a four-day rally and retesting levels not seen since the end of March amid the announcement that the Aptos Foundation and AptosLabs have committed over $50 million to infrastructure development. 

Chart

The crypto market has retreated, taking its cue from equities

The crypto market capitalisation has fallen by around 2% over the past 24 hours to $2.62 trillion, amid a renewed flight to safety in global markets. The leaders were Internet Computer (+9%), Zcash (+3.6%) and Tron (+1.4%); the laggards were Doge (-4.7%), Toncoin (-3.7%) and Dash (-3.5%). Since hitting lows at the end of March, the cryptocurrency market has been rising at roughly the same pace as the S&P 500, but at about half the speed of its more familiar bellwether – the Nasdaq 100. Since the start of the year, the Nasdaq 100 has gained 13%, while the crypto market has declined 12%.

Author

FXStreet Team

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.

More from FXStreet Team
Share:

Editor's Picks

Ondo Price Forecast: ONDO vulnerable to deeper losses amid CLARITY Act delay

Ondo is down over 2% on Friday, extending its 4% decline from the previous day, as the US Senate delays the floor vote on the crypto CLARITY Act to next month, weighing on Ondo. Retail demand for ONDO eases as Open Interest declines and funding rates turn negative. The technical outlook for ONDO is bearish as the downside momentum gains traction.

Ethereum Weekly Forecast: Calm before a bullish breakout

Ethereum continues to trade sideways, hovering around $1,901 on Friday, hinting at a potential breakout ahead. Meanwhile, steady Exchange Traded Funds inflows and rising accumulation among large ETH holders suggest that bullish pressure could be building beneath the surface. Institutional demand continues to strengthen.

Crypto Overview: US Senate delays Clarity Act vote – Cardano and LayerZero sustain gains

Bitcoin price holds steady above $64,000 with the 50-day Exponential Moving Average at $64,637 capping gains. The US Senate has delayed the floor vote for the Crypto Clarity Act after the summer recess, starting Monday. Cardano and LayerZero hold gains from the previous day's rebound, outperforming top altcoins over the last 24 hours.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC under pressure, ETH trades sideways, XRP gravitates toward $1
Bitcoin (BTC) and Ethereum (ETH) remain under pressure on Friday after mild gains, while Ripple (XRP) slides over 5% so far this week. BTC faces rejection near a key resistance barrier, and ETH has been trading sideways for the last 22 days. Meanwhile, XRP is gravitating its correction toward the key $1 support zone.
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.