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Cryptocurrencies Price Prediction: Bitcoin, Polygon and Ethereum — Asian Wrap 08 May

Cryptocurrencies Price Prediction: Bitcoin, Polygon and Ethereum — Asian Wrap 08 May
FXStreet TeamFXStreet TeamFXStreet

What the recent meme coin pump means for Bitcoin and Ethereum

Meme coin price rallies typically signal a top in Bitcoin and Ethereum prices in close. Experts believe if PEPE and other meme coins in the ecosystem rally again, it could fuel capital rotation in Bitcoin and Ethereum. 

How Polygon zkEVM growth could act as a catalyst for MATIC price

Polygon network’s zkEVM rollout has witnessed an increase in Total Value Locked. There is a spike in on-chain activity on the MATIC network and experts expect this to fuel a recovery in the asset’s price. 

Ethereum battles intense selling pressure from spike in ETH deposits to crypto exchanges

Ethereum, the second-largest asset by market capitalization is currently under intense selling pressure with the increase in ETH inflow to centralized exchanges. Typically, a rise in ETH inflow is associated with increased selling and a negative impact on the asset’s price. 

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Bitcoin: BTC steadies as data suggests local bottom

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.