Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Crypto – European Wrap 30 August

Bitcoin Weekly Forecast: Will BTC continue its ongoing decline?

Bitcoin (BTC) trades above $59,000 on Friday, but it has lost 7.5% this week so far after being rejected around the daily resistance of $65,000. The decline is supported by lower demand from the US spot Bitcoin ETFs, which registered a net outflow of $103.8 million, falling Bitcoin's Coinbase Premium Index, and a spike in Network Realized Profit/Loss. However, some investors seem to be taking the chance to buy BTC amid this price dip, as shown by the Exchange Netflow data.

Vitalik Buterin’s Ether transfers raise concerns after Ethereum Foundation slammed for spending $88 million

Ethereum (ETH) founder Vitalik Buterin carried out another ETH transfer on Friday, on-chain data shows, raising concerns among crypto traders hours after the spending practices from the Ethereum Foundation were put into question due to its lack of transparency.

Crypto fails to bounce off the bottom

The cryptocurrency market failed to move significantly from the previous day's levels, losing 0.5% to $2.07 trillion. Crypto followed the stock market but was noticeably weaker. Smooth growth during the day was wiped out by a late sell-off, taking capitalisation back to the local lows of recent days. Sentiment in the crypto market remains in the fear zone, with the index at 34 (+5 for the day).