Cryptocurrencies Price Prediction: Polygon, Ripple & Bitcoin – American Wrap 08 April

FXStreet Team FXStreet

Bitcoin Weekly Forecast: Road to $52,000 is paved

Bitcoin price is at an interesting point in its journey over the past three weeks. After breaching a massive hurdle, BTC continued heading higher but has retraced over the last three days. Despite the recent drawdown, BTC has a high probability of an uptrend.

XRP price portrays bullish vengeance aiming for $1

XRP price has seen better days as the digital remittance token failed to reach $1 last month. Analysts at FXstreet did manage to foresee the sell-off coming, noticing sudden changes in price and volume behavior. It seems there was a reason for all the erratic price fluctuations for XRP lately.

MATIC price screams sell as bears target $1.15

Polygon price is currently trading at $1.50 within a previous demand zone. Last week’s bullish thesis mentioned that MATIC price could find a bottom between the $1.55 and $1.65. The uptrend invalidation was set at $1.55. Now that the MATIC price has completely invalidated the extended target, the MATIC price hints that a larger selloff may be underway.

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

XRP and XLM outlook: Mild recovery attempts emerge amid mixed market signals

Ripple and Stellar show mild signs of recovery on Thursday after extending losses earlier this week. XRP is holding above the $1.10 level as bearish momentum begins to fade, while XLM has bounced modestly from a key support zone.

Crypto Overview: Bitcoin consolidates above $60,000 – CRV, WLFI, XMR lead gains

The broader cryptocurrency market maintains risk-off sentiment as Bitcoin lingers above $62,000. The mild recovery in BTC fails to lift the Fear and Greed Index, which at 15 continues to signal extreme fear among investors. Still certain altcoins, Curve DAO, World Liberty Financial, and Monero, have emerged as top performers over the last 24 hours.

Bitcoin faces further downside risk amid growing short-term holder losses, weak ETF demand

Bitcoin's recent decline toward the $60,000 level has pushed the market further into bearish territory, with new investors suffering huge unrealized losses, according to a Glassnode report on Wednesday. The firm noted that Bitcoin's earlier May rally now appears increasingly as a "bear bounce".

CFTC proposes framework to review terrorism, war, assassination-related contracts on prediction markets

The Commodity Futures Trading Commission (CFTC) on Wednesday proposed amendments to Regulation 40.11, seeking to establish a formal framework for reviewing prediction market contracts. The proposed framework targets contracts linked to terrorism, assassination, war, gaming, or conduct that is unlawful under federal or state law.

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.