Cryptocurrencies Price Prediction: PI, Bitcoin & Crypto – European Wrap 20 February

Pi Network Price Forecast: PI recovery stalls amid profit-taking

Pi Network is trading around $0.1750 at press time on Friday, reversing from a crucial resistance level after a steady recovery earlier this week. More than 4 million PI tokens were deposited on Know-Your-Business-verified (KYB) Centralized Exchanges (CEXs) in the past 24 hours, suggesting a profit-taking phase weighing on the recovery. The technical outlook for Pi Network turns bearish, putting focus on the 50-day Exponential Moving Average (EMA) at $0.1771 as the last line of defense.

Bitcoin Weekly Forecast: No recovery in sight 

Bitcoin (BTC) price continues to trade within a range-bound zone, hovering around $67,000 at the time of writing on Friday, and falling slightly so far this week, with no signs of recovery. The ongoing price action heightens the risk of a breakdown as institutional demand continues to weaken, pointing to a fifth consecutive week of withdrawals from spot BTC Exchange Traded Funds (ETFs). In addition, hawkish Federal Open Market Committee (FOMC) Minutes, alongside rising geopolitical tensions between the US and Iran, are further pressuring the largest cryptocurrency by market capitalization.

Crypto Today: Bitcoin, Ethereum, XRP rebound as risk appetite improves

Bitcoin (BTC) rises marginally, nearing the immediate resistance of $68,000 at the time of writing on Friday. Major altcoins, including Ethereum (ETH) and Ripple (XRP), hold key support levels as bulls aim to maintain marginal intraday gains.

Ethereum is supported by the lower end of the narrow range at $1,900, while the psychological threshold at $2,000 appears to limit its upside. The remittance token, XRP, sits slightly above support at $1.40.