Bitcoin Price Prediction: BTC Vulnerable Despite Soaring Stablecoin Market Cap
Bitcoin (BTC) price fell below $61,000 on Thursday after closing below the key support level of $62,000 on Wednesday, News.Az reported citing FXStreet. It stabilized around the dollar.
This indicates that market sentiment may shift in the short term as institutional demand wanes, as evidenced by the second consecutive day of outflows of spot Bitcoin exchange traded funds (ETFs) in the US. are. However, an increase in stablecoin market capitalization may signal underlying bullish sentiment and an opportunity for future recovery.
Shiba Inu could fall 7% as SHIB whales reduce holdings
Shiba Inu (SHIB), the second largest meme coin in the crypto ecosystem, has risen slightly after three days of declines and is trading at $0.00001710 as of writing on Thursday. On-chain and technical indicators indicate that memecoin is likely to undergo further correction.
These crypto tokens have the highest chance of recovery: XRP, Solana, Ethereum, Bitcoin, Chainlink
Crypto intelligence tracker Santiment tracks narratives among traders and identifies which assets have the best chance of recovery. Typically, the assets that have the most negative sentiment among crypto traders have the best chance of recovery.
News.AZ
