Cryptocurrencies Price Prediction: Bitcoin, ONDO & Crypto – European Wrap 17 June

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Bitcoin Price Forecast: BTC steadies near $66,000 as markets await first Warsh-led Fed decision

Bitcoin (BTC) steadies near $66,000 at the time of writing on Wednesday as investors await the Federal Reserve’s (Fed) interest rate decision. Institutional demand shows slight improvement as spot Exchange Traded Funds (ETFs) recorded a mild inflow on Tuesday, after weeks of outflows. Traders are closely monitoring the first Federal Open Market Committee (FOMC) meeting chaired by Kevin Warsh for clues on the future policy path, which could determine the Crypto King’s next directional move.

Ondo Price Forecast: Multiple trendline rejections, fading bullish momentum warn of a steeper correction

Ondo (ONDO) price hovers around $0.3700 at press time on Wednesday, maintaining a broader corrective phase under the influence of a resistance trendline. Retail demand for ONDO remains firm, driven by the tokenization trend for traditional stocks and other Real World Assets (RWAs). The technical outlook leans mildly bearish as momentum fades and the overhead trendline continues to cap breakout attempts.

Crypto Today: Bitcoin, Ethereum, XRP trim breakout gains as focus shifts to Fed decision

Cryptocurrency prices broadly decline as investors show caution toward risk assets ahead of the Federal Reserve’s (Fed) interest rate decision on Wednesday. Bitcoin (BTC) holds around $65,000 after correcting from its Monday high of $67,292. Altcoins, including Ethereum (ETH) and Ripple (XRP), are generally mirroring Bitcoin’s slide, trading below $1,800 and $1.20, respectively.

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XRP approaches key support as risk-off sentiment deepens

Ripple (XRP) is trading at $1.06 on Monday, maintaining its position within a broader bearish trend. The token’s technical outlook continues to deteriorate, pressured by declining retail participation. Appetite for risk assets remains lethargic, as reflected in the Fear & Greed Index, which is embedded in the Fear territory at 28.

Crypto Today: Bitcoin, Ethereum, XRP extend decline amid renewed risk-averse sentiment

The cryptocurrency market remains weak on Monday, with Bitcoin (BTC) falling toward the nearest $62,000. Ethereum (ETH) and Ripple (XRP) reflect the sell-off across altcoins, edging lower toward $1,800 and $1.05, respectively. Risk appetite remains subdued, as the Fear & Greed Index holds steady at 28, deep within Fear territory.

The Bitcoin futures yield collapse: Once over 20%, now less than Treasury notes

Once a goldmine for carry traders, Bitcoin futures have flipped, consistently underperforming plain‑vanilla U.S. Treasuries every month since February. Carry trades consistently yielded 20% or more across regulated and unregulated crypto exchanges during the 2021 bull market. The strategy involved shorting Bitcoin futures while simultaneously buying a spot exchange-traded fund (ETF).

The crypto market is moving in the opposite direction to equities

The crypto market’s market capitalisation has fallen by 1% over the past 24 hours, returning to levels last seen in mid-July. The positive momentum the market showed in the first half of last week failed to take hold. Once again, we are seeing a negative correlation with the Nasdaq 100 index, this time in the form of falling cryptocurrencies while shares rise. Could this be becoming the new norm?

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.