TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Cryptocurrencies Price Prediction: Zcash, Bitcoin & Crypto – European Wrap 31 July

Cryptocurrencies Price Prediction: Zcash, Bitcoin & Crypto – European Wrap 31 July
FXStreet TeamFXStreet TeamFXStreet

Zcash Price Forecast: ZEC risks over 15% drawdown amid declining shielded supply

Zcash (ZEC) is trading in the red on Friday, extending a roughly 20% decline over nearly two weeks. The privacy coin is losing adoption and retail demand, with shielded ZEC supply at a 10-month low and ZEC futures Open Interest down over 3% in 24 hours. The technical outlook for ZEC is mildly bearish as bullish momentum declines. 

Chart

Bitcoin Weekly Forecast: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows. Despite BTC’s resilience, escalating US-Iran tensions keep inflation concerns elevated, limiting the Crypto King’s upside.

Chart

Crypto Today: Bitcoin, Ethereum, XRP edge lower despite renewed ETF inflows

The cryptocurrency market broadly corrects on Friday, as investors assess macro uncertainty and geopolitical tensions, which continue to escalate in the Middle East. Bitcoin (BTC) is trading below $64,000, down from the weekly high of $65,745. Altcoins such as Ethereum (ETH) and Ripple (XRP) are trading under increasing selling pressure below $1,900 and $1.10, respectively.

Chart

Author

FXStreet Team

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.

More from FXStreet Team
Share:

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP recover ahead of US Senate vote on CLARITY Act

Crypto Today: Bitcoin, Ethereum, XRP recover ahead of US Senate vote on CLARITY Act

Bitcoin edges higher, trading near $77,884 as of Monday, in tandem with broader gains across the cryptocurrency market. Ethereum and Ripple follow Bitcoin’s neutral-to-bullish trajectory, holding key support levels at $2,521 and $1.38, respectively.

Bitcoin Price Forecast: BTC recovery faces headwinds from ETF outflows and elevated Fed rate-hike bets

Bitcoin Price Forecast: BTC recovery faces headwinds from ETF outflows and elevated Fed rate-hike bets

Bitcoin is recovering, trading above $78,200 on Monday after a more than 4% pullback the previous week. Elevated Fed rate-hike bets and geopolitical risks are boosting the USD, capping BTC’s upside potential.

Pi Network extends gains as ecosystem development supports recovery

Pi Network extends gains as ecosystem development supports recovery

Pi Network (PI) extends its recovery on Monday, trading above $0.097 after two consecutive weeks of gains. Continued ecosystem development and improved developer tools are boosting utility.

Cardano Price Forecast: Hovers near key EMAs as cautious metrics leave rallies exposed to selling

Cardano Price Forecast: Hovers near key EMAs as cautious metrics leave rallies exposed to selling

Cardano hovers near the key 50-day and 100-day EMAs around $0.200 on Monday after losses of over 8% in the previous week. The technical outlook suggests that bullish attempts remain vulnerable to selling pressure at higher levels.

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.