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The cryptocurrency market has displayed renewed vigor as Bitcoin (BTC) 
$97,210 shifted its trajectory upward, breaking the $90,000 threshold. However, there is still much needed for sustained growth. Following a series of thwarted bullish attempts, sentiment among altcoin investors has waned. The ongoing discussions regarding regulatory matters contribute to this cautious outlook. What do the predictions hold for BTC, XRP, and Pi Coin in light of this surge?
Bitcoin (BTC)
With the recent rise in BTC prices, open positions have surged by 5.6%, nearing $116 billion. Additionally, the total spot volume across cryptocurrency markets has climbed to $95 billion. The overall market capitalization for cryptocurrencies has reached an impressive $2.82 trillion, with BTC maintaining its strong market dominance.
The recent breach of the $85,500 resistance level after 19 days is a positive sign. However, if the $88,000 level fails to serve as a new support, this attempt could fall short. Therefore, monitoring this support level closely during potential BTC price corrections is crucial. Beyond that, the $92,600 mark emerges as the next safe support point.
If BTC can avoid sudden sell-offs and no unfavorable news arises regarding regulatory issues, prices could once again reach six figures. This scenario would also create a favorable environment for altcoins to experience upward movement. In summary, while it might be premature to celebrate, there are plenty of reasons to remain hopeful.
XRP and Pi Coin Price Predictions
Despite maintaining the $2 threshold, XRP Coin has yet to achieve the anticipated breakout. Currently hovering around $2.13, if the upward trend continues, it could surpass the $2.25 mark and aim for $2.64. The conclusion of legal disputes, increased network activity, and other positive developments could see XRP Coin reaching new heights above $3.38 this year.
The longer BTC maintains its robust position, the better the outlook. However, the upcoming Fed interest rate decision looms, with no cuts expected. Additionally, should any discounts be announced, they could trigger narratives questioning the institution’s independence, potentially leading to a downturn.
Pi Coin remains relatively weak, largely due to exclusion from many major exchanges. It has shown sideways movement for quite some time. In possible upward movements, resistance levels at $0.705 and $0.79 can be targeted. Should the mid-May event generate heightened expectations, a test of $1 could occur next month. However, transparency issues and isolation from major exchanges render it a more challenging investment in the long term.
