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Cryptocurrencies Price Prediction: Bitcoin, Polkadot and Enjin Coin – European Wrap 23 July

Bitcoin Weekly Forecast: Musk changes tune on BTC as adoption and miners continue to make headway

Bitcoin price revival appears to be going well considering the recent sweep of the July 15 swing high. While this uptick in the market value of BTC is bullish, there is bound to be a minor pullback that will help catapult the pioneer cryptocurrency higher.

BTC/USDT 1-day chart

Polkadot Price Prediction: DOT retraces to gather steam for explosive 48% rally

Polkadot price slipped below a crucial demand barrier, exacerbating the sell-off. However, this descent bounced off old support, which led to a healthy upswing. Now, DOT might pull back to gather steam before it kick-starts another leg up.

DOT/USDT 6-hour chart

Cardano Price Prediction: ADA might pull back to $1.11 before heading higher

Cardano price has seen a quick run-up after approaching the trading range’s lower limit. While this uptick in ADA’s market value was obvious, investors should be aware of a minor pullback before the so-called “Ethereum killer” embarks on another leg up.

ADA/USDT 12-hour chart

 

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FXStreet Team

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.

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Ripple defends 50-day EMA as Standard Chartered launches RLUSD custody

Ripple is coming under intense selling pressure, trading around $1.40 on Monday. The remittance token appears to lack the required tailwind to sustain its recovery, while broader crypto market headwinds weigh on price action.

NEAR Protocol rally stalls below $6 amid firm ETF inflows

NEAR Protocol is down 3% at press time on Monday, ticking lower after rallying 30% over the last three days as buying pressure eases. The recovery aligns with Bitwise’s NEAR-focused ETF recording its second weekly inflow of over $13 million last week.

Bitcoin struggles as ETF outflows, geopolitical uncertainty weigh

Bitcoin steadies around $83,600 at the time of writing on Monday, after a 3.1% decline last week. Institutional demand shows weakening signs, with spot ETFs recording $681.10 million in net outflows last week, ending a three-week streak of inflows.

Crypto Today: Bitcoin, Ethereum and XRP face recovery headwinds as ETF outflows weigh

Cryptocurrency prices are broadly consolidating on Monday, with select tokens such as Ethereum slowly edging higher above $2,500. Bitcoin holds above $84,000 as bulls battle seller congestion, while Ripple consolidates around $1.40.

Bitcoin: Uptober or Rektober?
Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.