Cryptocurrencies Price Prediction: Bitcoin, Tron & Solana – European Wrap 30 December

Bitcoin Price Forecast: BTC recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week. Meanwhile, data shows that retail sentiment anticipates a New Year rebound.

Bitcoin’s institutional demand continues to decline, as evidenced by seven consecutive days of outflows from US spot BTC ETFs. Data shows $19.29 million of net outflow on Monday, adding to the $782 million of total outflow recorded last week. If institutional demand for Bitcoin continues to decline, it could fuel the selling pressure. 

Tron Price Forecast: TRX steadies as Justin Sun invests $18 million in Tron Inc.

Tron (TRX) trades above $0.2800 at press time on Monday, hovering below the 50-day Exponential Moving Average (EMA) at $0.2859. Justin Sun, founder of Tron, made an $18 million equity investment in Nasdaq-listed Tron Inc. (previously SRM Entertainment, Inc.) on Monday to boost its TRX treasury holdings further. On the technical side, momentum indicators are turning bullish, but TRX could face multiple overhead resistance levels.

Tron Inc. (Nasdaq: TRON) secured an equity investment from Justin Sun on Monday to expand its TRX treasury portfolio. The $18 million deal was made via Black Anthem Limited at $1.3775 per share. The company has over 677 million TRX tokens (0.716% of total TRX supply) as of Tuesday, valued at over $193 million.

Solana Price Forecast: SOL risks correction within descending wedge as bearish bets rise

Solana (SOL) hovers above $120 at press time on Tuesday after a nearly 2% decline on Monday. The SOL-focused Exchange Traded Funds (ETFs) see renewed interest after recording their lowest weekly inflow last week. However, the derivatives data indicates a sell-side inclination in traders' sentiment amid rising SOL futures Open Interest.

Solana ETFs recorded their lowest weekly collection of $13.14 million, down from $66.55 million the previous week, suggesting lower institutional interest amid broader cryptocurrency market volatility. Still, an inflow of $2.93 million on Monday, after a net-zero flow on Friday, reflects steady demand.