Cryptocurrencies Price Prediction: PI, BNB & Bitcoin – European Wrap 11 December

Pi Network declines as core team transfers 2 million tokens, fueling bearish sentiment

Pi Network (PI) edges lower by 3% at press time on Thursday, marking its fifth consecutive day of losses. A transfer of 2 million PI tokens from the liquidity reserve, part of the Pi core team wallets, bolsters the bearish sentiment. The technical outlook for PI targets the October 11 low at $0.1919 as the immediate support level.

BNB Price Forecast: BNB dips below $870 as Fed hawkish stance fuels risk aversion

BNB (BNB), formerly known as Binance Coin, is extending its correction, trading below $870 at the time of writing on Thursday as risk sentiment across the crypto market deteriorated in response to the Federal Reserve’s (Fed) hawkish rate cut. Weak on-chain and derivatives data further signal a bearish tone, suggesting BNB may face additional downside in the upcoming days.

Bitcoin attempts to break the short uptrend

The crypto market cap has been in a see-saw pattern over the past three weeks, exhibiting a gentle uptrend that has returned to the $3.08 trillion level during a consolidation phase. With no clear trend, crypto traders have reduced their activity in altcoins, waiting for the trend to recover in the first cryptocurrency and key stock indices.