Cryptocurrencies Price Prediction: Dogecoin, Bitcoin & Binance’s – European Wrap 5 July

Dogecoin price recovers from the heaviest shorting of 2023

Dogecoin, the largest meme coin in the crypto ecosystem, is recovering from the largest shorting event in 2023. Around June 29, the highest DOGE shorting level of the year was recorded by crypto intelligence tracker Santiment.

The Shiba-Inu-themed cryptocurrency climbed past the $0.07 level for the first time since the largest shorting event in 2023. Typically, market participants short an asset when they expect the price to decline in the future.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC range tightens, leaving holders confused

Bitcoin (BTC) price saw a spurt in buying pressure on July 3, which pushed it to $31,395, but the lack of momentum caused a retracement of the move. As a result, altcoins, including Ethereum (ETH) and Ripple (XRP) have remained lull. Additionally, the lack of a proper catalyst has sapped crypto traders' optimism.

Bitcoin (BTC) price is trading with a bullish bias, up almost 5% since the new week started. The king of crypto has taken a subtle step above the $31,000 level, pointing to a growing buying activity after the start of the third quarter. The price action since June 15 has led to the appearance of a bullish flag pattern.

BNB price declines as Binance suffers regulatory crackdown in Australia

The Australian financial regulator has searched Binance’s offices in the country, Bloomberg reported Wednesday citing anonymous sources, as the largest exchange in the crypto ecosystem faces increasing regulatory scrutiny in many of its markets.

Binance’s native token BNB traded at $241 at the time of writing, posting a 1.5% decline over the last 24 hours.  The Australian Securities and Investments Commission (ASIC), the country’s financial regulator, searched Binance’s offices in relation to the ongoing probe of the exchange’s local derivatives business. The search was carried out on Tuesday, the report said.