Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Compound – European Wrap 31 July

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Bitcoin price struggles at $66,000 amid Mt. Gox transfer concerns

Bitcoin (BTC) stabilizes around $66,000 on Wednesday after missing a close above $70,000 on Monday. Lookonchain reported that US Spot ETFs received inflows of 2,129 BTC worth $140.33 million, a whale acquired 1,300 BTC valued at $85.56 million from Binance, and Mt. Gox continued its creditor payments by transferring 47,229 BTC worth $3.13 billion to three unknown wallets. Additionally, Tron Founder Justin Sun urged China to adopt Bitcoin in post in X (formerly Twitter).

Ethereum trumps Bitcoin in BlackRock ETF inflow, eyes double-digit gains

Ethereum (ETH) hit its 2024 peak of $4,093 on March 12, and since then the altcoin has consolidated under this level. After weeks of struggling to make a comeback above key resistance at $3,500, Ether is primed for a recovery, per on-chain data.

Compound price poised for 20% rally following positive on-chain data

Compound (COMP) price is encountering resistance at the 100-day Exponential Moving Average (EMA) at $53.84. As of Wednesday, it trades slightly lower by 0.8% at $52.3. Meanwhile, rising daily active addresses and open interest in on-chain data suggest a bullish move may be imminent.

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Ripple risks extending drop as June lows come into view

Ripple (XRP) ticks down below $1.20 with short-term support at $1.16 intact at the time of writing on Thursday. An early-week rally was rejected at $1.28, weighing on sentiment as traders broadly de-risked.

Crypto Today: Bitcoin, Ethereum and XRP pare losses on increasing bets of Fed tighter monetary policy

Cryptocurrency prices are broadly moderating downwards on Thursday, as market participants assess the impact of the Fed’s hawkish monetary policy stance. Bitcoin edges lower, with support at $64,000 holding.

Bittensor Price Forecast: TAO closes in key support, risking deeper losses

Bittensor price edges below $250 at press time on Thursday, marking its fourth straight day of losses. The AI token is losing retail demand as TAO futures Open Interest dips over 8% in the last 24 hours.

Bitcoin slips below $64,000 as hawkish Fed stance weighs on risk appetite

Bitcoin remains under pressure, extending its correction, trading below $64,000 at the time of writing on Thursday. The US Fed left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.