Sign Up on MEXC
Highlights
- Bitcoin saw significant turbulency this week, dipping as low as the $59K mark.
- PEPE's price & market dynamics birthed speculations over a topped price action.
- Analysts offer a highly bullish forecast for XRP amid massive whale movements.
Another week draws to a close within the crypto landscape, keeping crypto market traders and investors on their toes. Bitcoin’s (BTC) price slipped from the $64K price level to as low as $59K this week, raising investor concerns. This tumbled movement comes against the backdrop of massive dumps to exchanges.
Meanwhile, Pepe Coin (PEPE) and Ripple’s XRP piqued significant interest. While developments related to the SEC lawsuit unfolded, market analysts ruled out a highly bullish forecast for XRP. Simultaneously, PEPE whales have taken action, moving billions of coins, garnering investor attention.
So, let’s take a closer look at some of the top crypto headlines for this week.
Bitcoin Price Struggles
BTC encountered immense volatility this week, primarily due to massive token dumps to exchanges. Notably, the U.S. and the German governments moved whopping amounts of Bitcoin to CEXs this week, stirring worldwide speculation amid crypto’s turbulent movement.
Simultaneously, a report by CoinGape further spotlighted massive whale dumps, generating bearish market sentiments.
Institutional investors saw this week as an opportunity to shift focus from Bitcoin to altcoins, as the broader industry expects a true correction is underway. The beleaguered exchange Mt. Gox’s plans to repay creditors in Bitcoin and Bitcoin cash has further raised price uncertainty.
However, the US PCE and core PCE inflation cooled down, triggering some positive sentiments in the market. Nonetheless, the broader sentiments convey a further dip in Bitcoin price is possible.
Despite Bitcoin ETFs recording a 4-day inflow streak, the crypto’s price has failed to gain a notable upside momentum. The inflows remain undermined as BTC miners sold whopping amounts of Bitcoin this week, aligning with miner capitulation.
However, the Binance CEO remained immensely bullish on Bitcoin’s long-term prospects.
Pepe Coin Stirs Speculations
Meanwhile, PEPE’s weekly chart showed a highly volatile movement, with the meme coin down to the $0.000011 price level at press time.
A smart money dumped billions of PEPE with 11-fold returns this week, birthing speculations over a topped price action for Pepe coin. Simultaneously, in light of the looming ETH ETF launch, a whale offloaded nearly 1 trillion PEPE to Binance, swapping it for Ethereum.
This strategic shift has sparked negative sentiments over PEPE’s future, although it added a bullish tint to ETH’s future movements.
Also Read: Promising Cathie Wood Stocks To Watch Out For
XRP Creates Buzz
Meanwhile, despite a sluggish price action, analysts took the stage to forecast a highly optimistic $2 price target for the crypto XRP. Amid this optimistic buzz, it was recorded that XRP whales bagged hundreds of millions of the Ripple-backed coin, indicating a potential bolstered price movement ahead.
Ripple president Monica Long further talked about Ripple vs the SEC lawsuit, the RLUSD stablecoin, and a potential XRP ETF launch. This garnered notable bullish sentiments for XRP across the broader industry.
Also Read: Floki Inu Warns Against Scam Tokens on Solana and Base
- Over $4 Billion in Bitcoin and Ethereum Options Expiring After US CPI
- South Korea Ends 2018 Ban on VC Investments in Crypto Firms
- Wall Street’s CPI Forecast: Expert Examines if Bitcoin Price Can Sustain Triangle Breakout?
- Avalanche Seeks $1B to Launch Treasury-Focused AVAX Firms in U.S.
- Dogecoin Leads Crypto Market Rally, Expert Sees $0.50 Target on DOGE ETF Launch
- AVAX Price Eyes $55 as Avalanche $1B Treasury Boost Gains Momentum
- Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
- SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
- Can Dogecoin Price Hit $1 as Derivative Volume Jumps Ahead of DOGE ETF Launch
- Bitcoin Price Prediction Eyes $150K as Trump Calls for Aggressive 100 BPS Rate Cut
