Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Layer 1 Tokens — Asian Wrap 01 July

FXStreet Team FXStreet

Over 1 million people hold at least one Bitcoin, here’s where BTC is headed

Bitcoin (BTC) wallet addresses holding at least one Bitcoin has crossed 1 million, per Glassnode data on June 30. Majority of BTC holders are profitable at the current price and analysts predict a bull run in the largest asset by market capitalization.

Ethereum and Polygon dominate crypto’s institutional investments, what that means for traders

The second largest crypto ecosystem Ethereum (ETH) and scaling protocol Polygon (MATIC) have noted a rise in institutional investment with the recent launches of crypto-related products. The Ethereum and Polygon ecosystems therefore dominate the investing landscape, likely boosting the utility of tokens in the networks.

Layer 1 tokens that are likely dead coins, fail to recover this cycle: XTZ, IOTA, KLAY, ALGO, EOS

The cryptocurrency market is cyclical in nature and several Layer 1 tokens have noted a decline in their prices, as new narratives like Artificial Intelligence (AI) and meme coins dominate in 2024. Data on Layer 1 tokens shows a significant decline in their prices this cycle, drawdowns greater than 75%.

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FXStreet Team

FXStreet

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.

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.