Cryptocurrencies wait for a signal
Cryptocurrency market capitalisation fell 2% over the week to $1.12 trillion, mostly fluctuating between $1.11 trillion and $1.14 trillion. The market is in no hurry to pick a trend, bringing the cap back into its chosen range and moving on to news of the US debt ceiling and the Fed's next move. Bitcoin is back below $27K this new week, finding support from buyers on dips to the 200-week moving average, which is a notable indication the market still believes in the return of a long-term uptrend in Bitcoin. It is also a bullish signal for the cryptocurrency sector.
On the other hand, if Bitcoin fails to push back from this support soon, it will be an excuse for the bears to increase the pressure. Ethereum has been treading water for around $1810 all last week, clearly waiting for an outside signal. Other top ten altcoins showed mixed dynamics, ranging from a 4.6% drop (Solana) to an 8.5% rise (XRP).
News background
Crypto whales could soon start selling Bitcoin, according to Lookonchain. Experts have highlighted the transfer of 1,750 BTC to the Binance exchange. The pressure will mount if other holders follow suit. Robert Kennedy Jr, US presidential candidate who has consistently supported digital assets, called Bitcoin "an exercise in democracy". The politician has pledged to protect the rights of Bitcoin owners and miners if he is elected the next US president.
Heisenberg Capital founder Max Keiser agreed with SEC chief Gary Gensler that all crypto assets other than bitcoin should be considered securities. He cited the example of El Salvador, where BTC has been legalised, and this adoption model could become the standard. MicroStrategy founder Michael Saylor said the company wants to use the Ordinals protocol to build applications. He believes that Bitcoin NFT technology has the potential to drive innovation in the digital asset market. A 30% tax on cryptocurrency mining proposed by US President Joe Biden would force the industry offshore, said Marathon Digital CEO Fred Thiel.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 91.6% | 13 | $62 664.60 | 3.00% | -1.33% | $1 234 371 376 996 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 85.6% | 17 | $2 941.99 | 2.34% | -4.12% | $353 377 146 794 |  |
|
| 3 |  USDT |
Tether predictions | 95.6% | 1 | $0.999428 | -0.04% | -0.06% | $110 783 528 841 |  |
|
| 4 |  BNB |
Binance Coin predictions | 88.4% | 15 | $590.52 | 0.49% | 0.32% | $87 152 356 407 |  |
|
| 5 |  SOL |
Solana predictions | 85.2% | 28 | $148.52 | 7.49% | -4.15% | $66 618 144 405 |  |
|
| 6 |  USDC |
USD Coin predictions | 94.8% | 1 | $0.999923 | -0.01% | -0.02% | $33 146 759 059 |  |
|
| 7 |  XRP |
XRP predictions | 90.4% | 14 | $0.506793 | 3.09% | -5.55% | $28 055 627 837 |  |
|
| 8 |  TON |
Toncoin predictions | 68.4% | 59 | $7.11 | 1.17% | 21.57% | $24 712 382 409 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 80% | 34 | $0.151072 | 10.29% | -3.22% | $21 797 089 512 |  |
|
| 10 |  ADA |
Cardano predictions | 84.4% | 19 | $0.436962 | 2.41% | -2.68% | $15 586 848 426 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 77.2% | 45 | $0.000024 | 9.53% | 0.36% | $13 989 723 166 |  |
|
| 12 |  AVAX |
Avalanche predictions | 81.2% | 34 | $32.47 | 1.11% | -11.87% | $12 394 779 200 |  |
|
| 13 |  TRX |
TRON predictions | 81.6% | 37 | $0.125709 | -0.27% | 5.94% | $10 996 345 882 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 76.8% | 37 | $0.125352 | -0.38% | 5.35% | $10 965 094 126 |  |
|
| 15 |  STETH |
Lido stETH predictions | 92.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
