Cryptocurrencies Price Prediction: Bitcoin, PI & Crypto – European Wrap 1 July
Bitcoin Price Forecast: BTC sinks to 21-month low amid ETF outflows, US-Iran peace uncertainty
Bitcoin (BTC) trades around $59,000 on Wednesday after plunging to a 21-month low of $57,800, the lowest level since mid-September 2024. Institutional selling supports this price correction, with spot Exchange Traded Funds (ETFs) recording an outflow of over $222 million on Tuesday, extending their recent streak of withdrawals. In addition, uncertainty surrounding US-Iran developments has kept investors cautious, weighing on Crypto King’s prices.
Pi Network Price Forecast: PI holds on thin ice with 76 million tokens ready to be unlocked
Pi Network (PI) is holding steady around $0.1150 on Wednesday, stabilizing after three consecutive days of losses of around 10%. Pi remains under pressure, with more than 76 million tokens scheduled for unlocking in June, potentially accelerating the bearish trend. From a technical standpoint, the minor pause in the PI token’s decline, caused by oversold momentum, could be short-lived.
Crypto Today: Bitcoin, Ethereum, XRP stay under pressure as investors turn more risk-averse
The cryptocurrency market trades under intense headwinds on Wednesday, led by Bitcoin’s (BTC) deepening sell-off below $60,000. The Crypto King hovers above $58,000.
Altcoins such as Ethereum (ETH) and Ripple (XRP) are tracking Bitcoin’s downward momentum, with ETH confined to the $1,500–$1,600 range and XRP testing critical support at the $1.00 level.
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