Bitcoin Weekly Forecast: Macro bearish trend persists, but a respite for BTC bulls
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up. Although the short-term outlook might look bullish depending on the time frame, the larger picture for BTC remains massively bearish with the possibility of another catastrophic crash brewing.
Shiba Inu price ready for takeoff as whales make big moves
Shiba Inu whale activity has increased alongside a nearly 10% spike in the meme coin’s price. SHIB held dormant for 90 days was moved in volume over last two days, with circulatingShiba Inu hitting 1.11T. Analysts predict a 13% rally in Shiba Inu price as the meme coin breaks into an uptrend.
Cardano buy opportunity before the Vasil hard fork kicks in
Charles Hoskinson affirms that Cardano supply will remain capped at 45 million, opposing the idea of burning ADA tokens. Crypto Michaël set a bullish target for the Ethereum-killer, above ADA’s all-time high of $3.01. Cardano price is likely to face resistance at $0.54, after sustaining a retest of the $0.47 level, argue analysts.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Here are the best and worst-performing cryptocurrencies in H1 2024
![Here are the best and worst-performing cryptocurrencies in H1 2024](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/blockchain_red_XtraSmall.jpg)
A recent report by Crypto Koryo on Wednesday revealed meme coins as the top performers among cryptocurrencies so far in 2024, with several altcoins coming in behind. The worst-performing tokens are DeFi and governance tokens.
Ethereum poised to follow Nvidia's steps as Bitwise files updated S-1 draft
![Ethereum poised to follow Nvidia's steps as Bitwise files updated S-1 draft](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Ethereum/ethereum_XtraSmall.jpg)
Ethereum (ETH) is down 3% on Wednesday following Bitwise filing an updated S-1 draft and a wider market downturn with potential Mt. Gox BTC supply flooding the market.
What to expect from altcoins as ETH ETF approval draws closer
![What to expect from altcoins as ETH ETF approval draws closer](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/BTC_ETH_XRP_Cryptos_XtraSmall.jpg)
As the crypto market continues consolidating on Wednesday, altcoins show mixed signals ahead of the spot ETH ETF launch. Many have predicted that the alt season may not occur in this cycle following the market lull. However, two key metrics suggest otherwise.
PolitiFi meme coins surge as Biden support lowers
![PolitiFi meme coins surge as Biden support lowers](https://editorial.fxstreet.com/images/Resources/CryptoWorldSEO2_XtraSmall.jpg)
Crypto prediction markets favor Kamala Harris over President Joe Biden as Democratic nominee in upcoming presidential elections. Meme coins based on Vice President Harris rallied amid BODEN token's 30% decline. Other tokens based on possible replacements for Biden experienced similar surges.
Bitcoin: BTC price correction could end in July, according to seasonal data
![Bitcoin: BTC price correction could end in July, according to seasonal data](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoin_5_XtraSmall.jpg)
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.