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Cryptocurrencies Price Prediction: Bitcoin, Ethereum Classic and Aave – European Wrap 3 February

Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin (BTC) price is at an inflection point as it continues to rally amid multiple sell signals on lower time frames. The Nonfarm Payrolls (NFP) report, including the unemployment rate and average hourly earnings, is set to be announced on February 3 at 1330 GMT.

BTC 1-week, 3-day, 1-day chart

Ethereum Classic Price Prediction: Is ETC safe in this bullish channel?

Ethereum Classic (ETC) is set to book a very outright bullish intraday session just hours before the US session kicks in. As the dust is settling for global markets after all major central banks had their say on Wednesday and Thursday, it seems that bulls are in the driver seat, at least for ETC, with some nice upside potential toward $26.

ETC/USD daily chart

Big whales movements in altcoins Loopring, AAVE, DYDX, CRV alarm crypto investors

Altcoin prices rallied in January 2023, the best performing month for cryptocurrencies since October 2021. Whales have increased their activity in altcoins Loopring (LRC), Aave (AAVE), DYDX and Curve (CRV). 

Whale transactions on AAVE

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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.

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Bitcoin and Gold Outlook: BTC eyes $70,000, XAU defends $4,000 as focus shifts to US CPI inflation

Bitcoin trades in the red below $75,000 on Monday, while Gold attracts some buyers, holding above $4,100. Market dynamics shifted toward risk aversion after last week's US midterms, resulting in a 5% rebound in Gold as a safe-haven asset, while BTC’s high-risk nature led to a 4% loss in the same period.

Crypto Today: Bitcoin, Ethereum, and Ripple extend downtrend as selling pressure mounts

Major cryptocurrencies, including Bitcoin, Ethereum, and Ripple, maintain a broadly corrective tone, extending losses from the previous week. Risk-off sentiment builds in the crypto market following last week’s correction linked to Democrats sweeping the US midterms.

Pi Network hits record low as bearish pressure overwhelms rebound hopes

Pi Network is trading at a record low, with over 5% losses so far on Monday, following the previous day’s 6% decline. The PI token's retail appeal also takes a hit, with its Open Interest down by over 20% in a week, indicating a large-scale unwinding of active positions.

Ripple risks further losses as bears eye $1

Ripple extends its decline, trading below $1.09 on Monday after falling more than 10% last week. Weakening institutional demand adds downside pressure, as XRP spot Exchange-Traded Funds (ETFs) recorded $529,510 in net outflows last week, ending a two-week streak of inflows.

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss
Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.