Cryptocurrencies Price Prediction: ZEC, Bitcoin & Crypto – European Wrap 7 April
Zcash Price Forecast: ZEC tests breakout rally after five-month decline
Zcash (ZEC) is up 4% at press time on Tuesday, attempting to break above a resistance trendline and reverse the prevailing five-month decline. A double-digit surge in ZEC futures Open Interest (OI) in the last 24 hours signals renewed retail strength for the privacy coin.
Bitcoin ETF inflows hit $471M, highest since late February
US-listed spot Bitcoin exchange-traded funds (ETFs) have renewed the pace of inflows, recording their largest daily flows in weeks.
Spot Bitcoin ETFs posted $471 million in inflows on Monday, the largest daily inflow since Feb. 25, when the funds attracted $507 million, according to SoSoValue.
The crypto market is in no hurry to gain ground
The crypto market capitalisation has fallen by 0.6% over the past 24 hours to $2.35 trillion. The market continues to hover around its 50-day moving average, reflecting a fierce battle for the medium-term trend. Top coins are predominantly down following renewed caution in traditional financial markets. The day’s leaders are Zcash (+3.1%), Filecoin (+0.9%) and Basic Attention Token (+0.6%). Among the underperformers are Avalanche (−9.7%), Algorand (−8.6%) and Ethereum Classic (−5.5%).
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