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Cryptocurrencies Price Prediction: Bitcoin, Zcash & Crypto – European Wrap 29 July

Cryptocurrencies Price Prediction: Bitcoin, Zcash & Crypto – European Wrap 29 July
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Forecast: BTC steadies above key support as Fed rate decision looms

Bitcoin (BTC) edges slightly higher, trading around $64,400 at the time of writing on Wednesday, after finding support near a key technical level in the previous day. However, the recovery remains fragile, as persistent outflows from BTC spot Exchange Traded Funds (ETFs) and renewed geopolitical tensions continue to weigh on sentiment. Traders now remain focused on the US Federal Reserve (Fed) interest rate decision and its policy stance on Wednesday, which could play a key role in shaping the next directional move for the Crypto King.

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Zcash Price Forecast: On-chain weakness, mounting selling pressure point to further losses

Zcash (ZEC) trades around $460 on Wednesday, stabilizing after a 20% decline over the last 10 days. The privacy coin is losing its retail demand, and network usage is declining, with Open Interest falling 6% in 24 hours and shielded ZEC count down to 4.15 million tokens. The technical outlook for ZEC is mixed, with the price testing a crucial support trendline amid rising bearish momentum.

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Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision

Cryptocurrency prices are broadly stable on Wednesday ahead of the Federal Reserve (Fed) interest rate decision. Bitcoin (BTC) holds above $64,000 but is struggling to sustain its rebound while Ethereum (ETH) sits above the short-term $1,900 support. Meanwhile, Ripple (XRP) is approaching the pivotal $1.10 resistance, a level that could shape the token’s upward trajectory if it is breached.

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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.

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