Cryptocurrencies Price Prediction: Bitcoin, Dogwifhat & Crypto – European Wrap 3 March

Bitcoin Price Forecast: BTC corrects after sharp recovery during the weekend

Bitcoin (BTC) price corrects and trades slightly down near $92,000 at the time of writing on Monday after rallying nearly 10% the previous day. Despite the recovery during the weekend, investor sentiment remains weak as US spot Exchange Traded Funds (ETFs) recorded a $2.39 net outflow last week, signaling institutional demand weakness. QCP Capital’s report on Monday highlights that despite the encouraging recovery in risk assets on Sunday, BTC is not quite in the game yet. 

Dogwifhat Price Forecast: WIF bulls targeting 35% gains ahead

Dogwifhat (WIF) price hovers around $0.74 on Monday after rallying nearly 16% the previous week. Lookonchain data supports a bullish outlook, showing that the wallet “Ansem” spent $2.3 million USDC to buy 2.97 million WIF tokens on Monday. The technical outlook suggests a bullish divergence on the Relative Strength Index (RSI) indicator, hinting at a bullish reversal ahead.

Return of crypto reserve idea halts market slide

Crypto market capitalization collapsed by 7.5% in the last 24 hours to $2.65 trillion, the lowest level since November 10th. Unlike the dynamics of the previous two days, there was no rebound at the beginning of Friday; there was just a timid attempt at consolidation. It seems that the market has found the pain point of short-term buyers, knocking out the “weak hands.”