Cryptocurrencies Price Prediction: Bitcoin, XRP & Crypto – European Wrap 12 March

Bitcoin Price Forecast: BTC hovers $82,500 as global de-risking intensifies on recession fears

Bitcoin (BTC) price hovers around $82,500 on Wednesday after recovering 5.52% the previous day. A K33 report highlights heavy sell-offs in equities and crypto markets amid rising concerns over a fragile global economy. Traders should remain cautious as the upcoming US macro data releases could bring more volatility in risky assets like Bitcoin.

Bitcoin, XRP and Solana slump with US stock sell-off, Lummis eyes 1 million BTC purchase

Bitcoin (BTC), XRP and Solana (SOL) prices struggle on Wednesday. The three tokens rank in the top 5 cryptocurrencies by market capitalization, and the risk-off sentiment in the crypto market has ushered in a cooling-off period. 

Bitcoin attempted to close above the $100,000 milestone thrice in the first week of February. The largest cryptocurrency by market capitalization opened above that level each day and failed to close, slipping lower. 

Crypto market tumbles after stocks

The cryptocurrency market bounced 2% in the last 24 hours to $2.67 trillion. So far, the situation looks like a small rebound after the collapse. We should not talk about the beginning of recovery as long as the market is below its 200-day moving average of $2.83 trillion.