Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Terra – European Wrap 8 June

FXStreet Team FXStreet

Bitcoin Price Prediction: BTC sets sight on $34,000

Bitcoin (BTC) price is set to jump at least 13% as tailwinds hover over global markets. Although the background is still tainted by central bank tightening – with the Indian Reserve Bank the latest to join the RBA in implementing a a 50 bp hike – , traders are seeing the upside potential from governments slashing taxes to support living and spending patterns for households, and thus safeguarding the cash inflow into cryptocurrencies. As a result, cryptocurrencies overall are seeing their price action underpinned. BTC price, for example, did not make new lows as expected but is trading sideways and is ripe for a breakout towards $34,000, with the 55-day Simple Moving Average (SMA) as a cap on the topside for now.

How prices would react ahead of Ethereum’s Merge launch on testnet

Ethereum price has been dillydallying for quite some time thanks to Bitcoin’s tight consolidation. With intraday price action looking like a pump-and-dump for BTC, altcoins seem to have managed to evolve.

These indicators show Terra’s LUNA 2.0 price will quadruple

LUNA 2.0 price has been in a downtrend since May 30 and has finally reached the lower limit of its range, suggesting that a reversal is likely. Investors need to be careful because this bullish outlook could fail if bears keep LUNA below the range low.

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Ripple faces persistent bear risks, shrugging off ETF inflows

Ripple is extending its decline for the second consecutive day, trading at $2.06 at the time of writing on Friday. Sentiment surrounding the cross-border remittance token continues to lag despite steady inflows into XRP spot ETFs.

Luna Classic soars 20% as Do Kwon's sentence hearing looms

Luna Classic surges 20% on Friday, extending its recovery for the fourth consecutive day. Roughly 959 million tokens have been burned in December so far, fueling LUNC's recovery.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.

Ethereum strengthens against BTC post-Fusaka, targeting $3,200 breakout

Ethereum trades above $3,100 on Friday, with bulls aiming for a breakout above a two-month-old resistance trendline. Ethereum gains strength against Bitcoin as demand for the major altcoin increases after the Fusaka upgrade.

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Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.

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