Cryptocurrencies Price Prediction: Pi, Bitcoin & Aave – European Wrap 27 June
Pi Network Price Forecast: CEXs' reserve outflow fuels recovery chances ahead of Pi2Day’s GenAI claims
Pi Network (PI) drops by 4% at press time on Friday, extending its reversal from the 50-day Exponential Moving Average (EMA). Amid the pullback, the falling Centralized Exchanges (CEX) reserves record a sharp outflow, signaling smart money absorbing the supply pressure. Still, the claims of Generative AI features on Pi Network are to be potentially announced on Pi2Day on Saturday.
Bitcoin Weekly Forecast: Inches away from all-time highs
Bitcoin (BTC) price has risen nearly 7% so far this week and is currently trading above $107,000 at the time of writing on Friday, just inches away from its all-time high. The rebound comes as global risk sentiment improves following a ceasefire between Iran and Israel and as the US Federal Reserve (Fed) announced a softer stance on crypto-related banking at the start of the week.
Aave Price Prediction: AAVE surges over 10% this week as on-chain metrics and bullish bets soar
Aave (AAVE) price is trading higher above $260 at the time of writing on Friday, following an over 10% rally so far this week. Three reasons why AAVE could extend its gains ahead are that its on-chain data shows that active loans and revenues have reached record levels. On the technical side, the price action indicates that it has rebounded from key support earlier this week. Lastly, the derivatives data shows that the bullish bets are rising among traders, all hinting at further upside moves.
Author
CoinDesk Analysis Team
CoinDesk
CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.
