Cryptocurrencies Price Prediction: PI, Bitcoin & Crypto – European Wrap 6 October

Pi Network Price Forecast: PI put pressure on key support as consolidation extends

Pi Network (PI) price holds steady in a consolidation phase for the eleventh consecutive day, above the $0.2565 support level. Despite the recent net outflows of nearly 13 million PI tokens from Centralized Exchanges (CEXs) in the last 24 hours and the announcement of Decentralized Finance (DeFi) features on Pi Testnet after the Token2049 event, Pi Network struggles to gain traction. 

Bitcoin Price Forecast: BTC reaches highest weekly close, hitting a new all-time high of $125,708

Bitcoin (BTC) steadies around $124,000 at the time of writing on Monday, after surging more than 10% in the previous week. Hitting an all-time high of $125,708 on Sunday, the BTC’s market capitalization has now surpassed $2.47 trillion, overtaking major tech giants like Amazon and Meta Platforms. Meanwhile, strong institutional demand further supports the bullish outlook, as spot Exchange Traded Funds (ETFs) recorded $3.24 billion in weekly inflows — the largest since November — highlighting growing investor confidence.

Crypto market electrified by shutdown

The crypto market cap hit a new record high on late Sunday, rising to $4.27 trillion. On Monday, the market retreated slightly from its highs to $4.24 trillion but still recorded a 1.4% increase over the past 24 hours. This was due to the steady rise of BTC, which pushed it to new all-time highs.