Cryptocurrencies Price Prediction: Bitcoin, Pi Network & Ondo – European Wrap 5 May

Bitcoin Price Forecast: BTC extends gains above $81,000 as weak on-chain data keeps caution in play

Bitcoin (BTC) extends its rally above $81,000 at the time of writing on Tuesday, supported by strong inflows into BTC spot Exchange Traded Funds (ETFs). Despite the bullish price action, traders should be cautious, as muted on-chain activity signals fragile conditions and suggests the potential for a near-term pullback in the Crypto King’s price.

Institutional demand began the week on a positive note, further supporting the largest cryptocurrency by market capitalization. SoSoValue data show that US-listed BTC spot ETFs recorded inflows of $532.21 million on Monday, marking the third consecutive day of positive inflow. If this trend continues this week, BTC could see a further price rally.

Pi Network Price Forecast: PI flashes bullish signals as mainnet migration pauses, sentiment recovers

Pi Network (PI) hovers above $0.1800 at press time on Tuesday, holding steady after a 3% surge the previous day. Recovery in the broader market sentiment and the five-day delay in fresh supply migration to the mainnet ease downside pressure on the PI token price. The technical outlook for PI is mildly bullish, as trend momentum recovers on the 4-hour chart, suggesting an upside breakout is possible.

Pi Network faces persistent downside pressure from supply unlocks during the Know-Your-Customer (KYC)-verified mainnet migration, which enables investors to transfer their PI token holdings to Centralized Exchanges (CEXs). 

Ondo Price Forecast: ONDO extends gains as DTCC selection boosts tokenization narrative

Ondo (ONDO) price edges higher on Tuesday, trading above $0.316 at the time of writing and posting the fifth consecutive day of gains. The bullish price action is further strengthened by Monday’s announcement that ONDO was included in DTCC’s Industry Working Group focused on advancing tokenization in the US. Meanwhile, both trading volume and Open Interest (OI) for ONDO are climbing to multi-month highs, indicating growing investor interest and hinting at rally continuation.

Ondo’s official X account announced on Monday that it has been selected in DTCC’s Industry Working Group to advance tokenization in the US.