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.
Author
FXStreet Team
FXStreet
