Crypto seeks support
The cryptocurrency market is down 0.6% over the past 24 hours, falling to $1.15 trillion, as we see reduced volatility and attempts to "buy the bottom". Bitcoin is testing and attempting to hold above its 50-day moving average on Monday and Tuesday. As it does so, we, for now, see some reduced volatility and attempts to form a local bottom. It could be an attempt to return to buying after a corrective pullback or a consolidation before a new downward impulse.
Regarding technical analysis, bitcoin's correction will only become a new downtrend when the price consolidates below $26.5K, 61.8% of the upside momentum from the March lows and the bottom of last month's consolidation. According to CoinShares, investments in crypto funds fell by $30 million last week after four weeks of gains. Bitcoin investments decreased by $53 million, while Ethereum rose by $17 million.
News background
Significant inflows into Ethereum assets indicate growing investor confidence following the successful implementation of the Shapella update. Crypto winter is over, says Standard Chartered. Bitcoin will benefit from the turmoil in the banking sector and several other factors. By the end of 2024, the price of the first cryptocurrency could reach $100K.
Twitter analyst PlanB, the creator of the Stock-to-Flow model, expects Bitcoin to grow significantly in 2024 after halving. He calculates that BTC will break through $100,000 and could eventually reach $542,000. In the medium term, BTC could become the world's reserve currency, according to BitMEX co-founder Arthur Hayes. More and more investors are looking to Bitcoin to preserve capital.
The World Economic Forum (WEF) said Bitcoin mining could significantly reduce greenhouse gas emissions. But only if miners switch to renewable energy sources. Billy Marcus, the creator of the meme cryptocurrency Dogecoin, called crypto investors "mentally disturbed" and NFT buyers "even more unhealthy". He said he stopped investing in cryptocurrencies nine years ago, shortly after Dogecoin was launched.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 92% | 9 | $37 588.27 | -0.67% | 1.67% | $735 115 654 559 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 80.8% | 36 | $2 031.02 | -0.10% | -0.59% | $244 210 296 174 |  |
|
| 3 |  USDT |
Tether predictions | 94.8% | 1 | $0.999863 | -0.05% | -0.01% | $89 269 460 603 |  |
|
| 4 |  BNB |
Binance Coin predictions | 83.6% | 28 | $226.43 | -0.55% | -1.89% | $34 349 326 929 |  |
|
| 5 |  XRP |
XRP predictions | 80.4% | 34 | $0.601580 | -1.10% | -2.45% | $32 418 335 056 |  |
|
| 6 |  SOL |
Solana predictions | 58% | 85 | $59.44 | -1.07% | 4.94% | $25 200 375 263 |  |
|
| 7 |  USDC |
USD Coin predictions | 95.6% | 1 | $1.000042 | 0.01% | 0.01% | $24 386 809 921 |  |
|
| 8 |  ADA |
Cardano predictions | 74.8% | 52 | $0.373975 | -1.61% | -1.16% | $13 203 022 100 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 78% | 43 | $0.082244 | 2.20% | 9.42% | $11 682 144 103 |  |
|
| 10 |  STETH |
Lido stETH predictions | 94.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  TRX |
TRON predictions | 83.2% | 23 | $0.103437 | -0.24% | 2.38% | $9 158 560 880 |  |
|
| 12 |  WTRX |
Wrapped TRON predictions | 86% | 26 | $0.101361 | -1.90% | 0.16% | $8 974 568 197 |  |
|
| 13 |  TON |
Toncoin predictions | 79.6% | 29 | $2.41 | -1.00% | 1.16% | $8 275 497 809 |  |
|
| 14 |  LINK |
Chainlink predictions | 69.6% | 61 | $14.37 | -1.40% | 1.34% | $8 002 523 995 |  |
|
| 15 |  AVAX |
Avalanche predictions | 57.6% | 89 | $21.02 | -0.84% | 1.90% | $7 673 965 985 |  |
