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

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.