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Cryptocurrencies Price Prediction: Bitcoin, Solana & Ethereum – European Wrap 1 June

FXStreet Team FXStreet

Bitcoin Price Forecast: BTC risks losing $70,000 as AI and chip rally steal the spotlight

Bitcoin (BTC) edges below $73,000 at press time on Monday, extending its decline under the prevailing downside pressure from three consecutive weeks of losses. Dark clouds are gathering over Bitcoin as institutional investors shed $2.43 billion in BTC from Exchange-Traded Funds (ETFs) over the last month, and the US and Korean crypto premium indices flip negative amid the AI and chip rally.

Traditional financial institutions in the crypto market have become a price-dictating factor due to their large investment pool. Typically, inflows fuel or support recovery while outflows reduce retail sentiment, further worsening the pullback.

Solana Price Forecast: Institutional demand rises as SOL floats above $80

Solana (SOL) floats above $80 at press time on Monday, avoiding deeper corrections with rebounds to extend a consolidating move. The rising institutional demand, with over $115 million in inflows last month, and a surge in tokenized Real World Assets (RWAs) on Solana, reflect strong foundational demand for the long term. Still, the rise in retail demand with increasing funding rates fails to liberate SOL from prevailing downside pressure.

Solana ETFs are gaining momentum, while Bitcoin ETFs have recorded three consecutive weekly outflows of over $1 billion, suggesting that institutions are willing to hold altcoins over the King Crypto. SoSoValue data shows Solana ETFs recorded their fourth consecutive weekly inflow of $2.36 million, bringing the total monthly inflow to $115.34 million, extending the streak of positive monthly flows since their inception in October.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Institutional outflow risk further losses

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) edge lower under pressure on Monday after a steady decline over the last three weeks. US-Iran ceasefire extension dillydally fuels institutional outflows, adding further downside pressure on the crypto market.

Bitcoin hovers above $73,000, risking a revisit to $70,000, while Ethereum stands at the edge of the $2,000 psychological support. Ripple follows suit after a bearish close on Sunday, abruptly ending the three-day recovery run.

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XRP falls toward $1.00 amid muted ETF activity

Ripple (XRP) edges lower toward the short-term $1.05 psychological support level at the time of writing on Wednesday. This marks three consecutive days of losses, undermining investor interest and the broader optimism for a potential deal between the United States (US) and Iran to reopen the Strait of Hormuz.

Swiss-based Taurus gives banks access to Hedera via unified digital asset platform

Taurus, a Switzerland-based digital asset infrastructure provider, announced on Wednesday that it has extended its services, targeting banks and regulated financial institutions on the Hedera (HBAR) network. Meanwhile, HBAR is paring losses, trading above $0.0650 at the time of writing. The token shows signs of stability amid a broader bearish trend.

Crypto markets trade muted, lag risk rally

Whilst hopes for a US-Iran agreement to revive the Strait of Hormuz and renewed AI-trade optimism lifted US equities to all-time highs, major cryptocurrencies remained largely sidelined on Wednesday. Bitcoin and Ether hovered near $64,000 and $1,800, respectively, extending their recent period of consolidation rather than participating in a broader risk rally they would normally follow.

Crypto Today: Bitcoin, Ethereum advance while XRP lags amid US-Iran deal optimism

Bitcoin (BTC) hovers near $64,000 at the time of writing on Wednesday, buoyed by a marginal improvement in crypto sentiment amid growing optimism that the United States (US) and Iran could potentially reach an agreement to open the Strait of Hormuz this week. Ethereum (ETH) mirrors Bitcoin’s neutral-to-bullish outlook, trading toward $1,900.

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.