Cryptocurrencies Price Prediction: Bitcoin, Shiba Inu & Crypto – European Wrap 3 August
Bitcoin Price Forecast: BTC slides as ETF outflows return, Coldcard wallet attack raises selling fears
Bitcoin (BTC) extends its decline, trading below $63,000 at the time of writing on Monday after falling more than 2.8% in the previous week. Institutional demand shows cautious signs, with US-listed BTC spot Exchange Traded Funds (ETFs) recording a mild net outflow last week, breaking three weeks of positive flows. Meanwhile, concerns over potential Coldcard wallet attacks, involving the movement of nearly 389 BTC, add another layer of uncertainty and could further pressure the Crypto King’s outlook.
Shiba Inu Price Forecast: SHIB declines despite 83 million token burn as demand wanes
Shiba Inu (SHIB) price is down nearly 2% on Monday, after two consecutive days of recovery, extending last week's 7% decline. Declining SHIB futures Open Interest and the funding rate offset the 83 million SHIB tokens burned on Sunday, implying potential downside. The technical outlook for SHIB is mixed, with momentum maintaining a recovering tone.
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. Persistent risk-off sentiment is likely to cap potential upside and prompt continued investor selling.
Author
FXStreet Team
FXStreet
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.
