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Cryptocurrencies Price Prediction: Bitcoin, XRP & Crypto – European Wrap 12 March

Cryptocurrencies Price Prediction: Bitcoin, XRP & Crypto – European Wrap 12 March
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Forecast: BTC hovers $82,500 as global de-risking intensifies on recession fears

Bitcoin (BTC) price hovers around $82,500 on Wednesday after recovering 5.52% the previous day. A K33 report highlights heavy sell-offs in equities and crypto markets amid rising concerns over a fragile global economy. Traders should remain cautious as the upcoming US macro data releases could bring more volatility in risky assets like Bitcoin.

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Bitcoin, XRP and Solana slump with US stock sell-off, Lummis eyes 1 million BTC purchase

Bitcoin (BTC), XRP and Solana (SOL) prices struggle on Wednesday. The three tokens rank in the top 5 cryptocurrencies by market capitalization, and the risk-off sentiment in the crypto market has ushered in a cooling-off period. 

Bitcoin attempted to close above the $100,000 milestone thrice in the first week of February. The largest cryptocurrency by market capitalization opened above that level each day and failed to close, slipping lower. 

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Crypto market tumbles after stocks

The cryptocurrency market bounced 2% in the last 24 hours to $2.67 trillion. So far, the situation looks like a small rebound after the collapse. We should not talk about the beginning of recovery as long as the market is below its 200-day moving average of $2.83 trillion.

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