Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Pepe — Asian Wrap 15 August

FXStreet Team FXStreet

Bitcoin drops below $59K following US government's $591 million Silk Road BTC transfer

Bitcoin briefly dropped below $59K on Wednesday following news that the US government had moved 10,000 BTC to Coinbase Prime. On-chain data also shows a trend change in Bitcoin's price correlation to the BTCE fund reserves.

Ethereum ETF inflows and low CPI could help ETH stage rally amid Jump Crypto headwind

Ethereum (ETH) is down 1.7% on Wednesday as low Consumer Price Index (CPI) inflation data and rising ETH ETF inflows hint that a rally may be imminent. However, a key trendline suggests ETH may repeat history by consolidating for a few weeks before beginning a fresh upward move.

PEPE could decline further as long-term holders continue to shed holdings

PEPE is down nearly 2% on Wednesday following key insights that long-term holders have been consistently booking profits since March. The move appears to be creating a head-and-shoulder pattern on the daily chart for PEPE, which can trigger a heavy correction.

Author

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 and Stellar outlook: XRP stalls at key resistance, XLM rally loses steam

Ripple and Stellar are trading under pressure as bulls lose steam. XRP faces rejection near key resistance, while XLM continues its pullback so far this week. Despite the ongoing correction, mixed on-chain and derivatives metrics suggest traders remain cautiously optimistic for these altcoins. Derivatives data shows a mixed outlook.

Crypto Market Overview: Bitcoin loses steam around $63,000 – DeFi tokens rally

Bitcoin sustains above $63,000 at press time on Tuesday, upholding a streak of six consecutive days of gains despite Strategy selling 3,588 BTC on Monday. The broader crypto market sentiment holds while DeFi tokens such as DeXe and LayerZero emerge as top gainers over the last 24 hours.

Bitcoin edges above $64K as easing sell pressure, improving ETF flows support recovery

Bitcoin (BTC) began July on stronger footing after rebounding above $64,000 following improving derivatives positioning and signs of market stabilization. QCP analysts noted that Bitcoin's early-July rebound aligns with long-term seasonal trends. Historically, July has been one of Bitcoin's strongest months, averaging gains of about 7.5%.

Ethereum Price Forecast: BitMine expands ETH accumulation amid crypto treasury pressure

Ethereum (ETH) treasury firm BitMine Immersion Technologies scooped 42,197 ETH last week, extending its weekly accumulation streak of the top altcoin. The purchase has pushed the company's total ETH holdings to 5.74 million ETH worth roughly $10.27 billion at the time of writing.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.