Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Ripple — Asian Wrap 06 August

FXStreet Team FXStreet

Ethereum on route to recovery after sustaining over $380 million in liquidations

Ethereum (ETH) is down 11% on Monday after taking heavy losses from the general crypto market crash. While the decline heavily hit long traders, they look set to stage a comeback following increasing exchange outflows.

Bitcoin could repeat post-COVID style rise: Bitwise

In a memo to investors on Monday, Bitwise Chief Investment Officer (CIO) Matt Hougan noted that the recent crypto market crash has provided an "opportunity" for Bitcoin (BTC) to replicate a similar move to its rise post-COVID lockdown.

XRP suffers 7% drop on Monday, hovers around $0.50 support

Ripple (XRP) shared several key updates in its Q2 2024 report. The bullish updates in the report have failed to catalyze gains in XRP since the altcoin was hit by a market-wide crypto correction that pushed it under psychological support at $0.50.

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Ripple eyes short-term bullish turn as investor demand returns

Ripple exhibits strong recovery prospects, trading above $1.10 on Friday. This rebound aligns with the broader crypto market and can be attributed to easing geopolitical tensions in the Middle East and growing appetite for risk assets.

Crypto Today: Bitcoin, Ethereum, XRP advance amid renewed capital inflows

Bitcoin maintains its upward momentum, holding above the $61,000 mark at the time of writing on Friday. Major altcoins such as Ethereum and Ripple are also posting gains, signaling a modest uptick in market sentiment and renewed risk appetite among investors.

Bitcoin Weekly Forecast: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin recovers to $61,800 on Friday after falling to a 21-month low of $57,800. US-listed spot ETFs recorded outflows of $526.64 million through Thursday, pointing to the eighth consecutive week of withdrawals.

Pi Network posts minor gains amid easing risk-off market sentiment

Pi Network (PI) shows minor recovery on Friday, a slow follow-through of the 2% rebound from the previous day. The recovery in PI aligns with the easing broader market risk-off sentiment, fueling speculative interest in the token.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.