Based

Solana

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Bitcoin

Bitcoin (BTC) price exhibited calmness after an eventful week, culminating in rapid upward movements across the market. Despite glaring signs of profit-taking, higher support is expected to bolster the largest crypto’s uptrend, especially after a major spike in assets under management inflows. Solana price bulls are focused on defending $160 support to renew the bid for the extended rally to $180. 
<h2 class="p1" id="bitcoin-price-takes-a-breather-uptrend-to-continue">Bitcoin Price Takes A Breather, Uptrend To Continue</h2> 
Bitcoin price reached $65,000 amidst last week’s broadband bullish momentum triggered by&nbsp;<a href="https://coingape.com/crypto-market-rally-bitcoin-price-altcoins-see-strong-surge-after-fed-rate-cut-hint/" target="_blank" rel="noopener">global markets’ embracing the Fed’s Chair</a>, Jerome Powell’s speech at the Jackson Hole meeting in Wyoming. Both small and large-cap altcoins responded positively, with Ethereum reaching $2,820, Solana at $162, and Ripple (XRP) at $0.63. 
According to the latest <a rel="nofollow" href="https://blog.coinshares.com/volume-197-digital-asset-fund-flows-weekly-report-2a165c7286a7">CoinShares report</a>, digital asset investment products witnessed inflows summing to $533 million. This highlighted the largest inflows in five weeks. As per the statistics below, investors primarily focused on Bitcoin, which posted $543 million in inflows, reflecting the asset’s sensitivity to interest rate expectations. 
<figure id="attachment_214129" aria-describedby="caption-attachment-214129" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-214129" src="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.57.20.png" alt="Bitcoin weekly fund inflows | CoinShares" width="1356" height="900" srcset="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.57.20.png 1356w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.57.20-300x199.png 300w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.57.20-1224x812.png 1224w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.57.20-768x510.png 768w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.57.20-150x100.png 150w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.57.20-272x182.png 272w" sizes="(max-width: 1356px) 100vw, 1356px">
 <figcaption id="caption-attachment-214129" class="wp-caption-text">
 Bitcoin weekly fund inflows | CoinShares
 </figcaption>
</figure> 
On Friday, Bitcoin ETFs logged $252 million of net inflows while the trading volume across all 11 products surpassed $3.12 billion, <a rel="nofollow" href="https://sosovalue.xyz/assets/etf/us-btc-spot">SoSoValue data</a> shows. BlackRock’s IBIT extended the lead with $1.2 billion in trading volume and $83 million in net inflows. Fidelity’s FBTC came second with $64 million, while Bitwise’s BITB came third with $42 million. Grayscale’s GBTC was the only product in the red, showcasing $35 million in net outflows, although its mini Bitcoin fund recorded $50 million in inflows. 
<figure id="attachment_214133" aria-describedby="caption-attachment-214133" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-214133" src="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.24.27.png" alt="Bitcoin ETF stats | SoSoValue" width="2351" height="1033" srcset="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.24.27.png 2351w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.24.27-300x132.png 300w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.24.27-1224x538.png 1224w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.24.27-768x337.png 768w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.24.27-1536x675.png 1536w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.24.27-2048x900.png 2048w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.24.27-150x66.png 150w" sizes="(max-width: 2351px) 100vw, 2351px">
 <figcaption id="caption-attachment-214133" class="wp-caption-text">
 Bitcoin ETF stats | SoSoValue
 </figcaption>
</figure> 
<a href="https://coingape.com/price/bitcoin/">BTC price</a> hovered at $63,722, sitting above the 20-day Exponential Moving Average (EMA) at $63,386 and below the previous day’s open of $64,225. This key support is critical for the resumption of the uptrend, otherwise BTC may start to trim last week’s accrued gains. 
Traders will look for a rebound above $64,000 to increase exposure on long positions while anticipating <a href="https://coingape.com/markets/what-will-happen-if-bitcoin-price-rises-to-70000-this-weekend/">BTC to advance to $70,000</a> this week. The above-mentioned increase in digital investment products could accelerate the upswing as confidence improves. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full" src="https://www.tradingview.com/x/186RMsXK/" alt="BTC price chart | Tradingview " width="2694" height="1436">
 <figcaption class="wp-caption-text">
 BTC price chart | Tradingview
 </figcaption>
</figure> 
Based on an earlier <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/">Bitcoin price prediction</a>, movement below the 20-day EMA could ignite a sell-off to $62,000 or the 20-day EMA. The down leg may extend to $60,000 if investors panic and sell in masses. 
<h2 class="p1" id="solana-price-analysis-what-s-next-as-sol-retests-160">Solana Price Analysis: What’s Next As SOL Retests $160</h2> 
Solana price swiftly returned from support at $140 to $162 amid the uptick in crypto prices on Friday and throughout the weekend. <a rel="nofollow" href="https://www.coinglass.com/currencies/SOL">Coinglass data</a> shows a spike in short positions liquidations, reaching $2.24 million in 24 hours and $682k on Monday. About $1 million long positions were liquidated in the last 24 hours and $766 on the day. 
<figure id="attachment_214128" aria-describedby="caption-attachment-214128" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-214128" src="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.28.36.png" alt="Solana derivatives analysis data | Coinglass" width="2728" height="1523" srcset="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.28.36.png 2728w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.28.36-300x167.png 300w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.28.36-1224x683.png 1224w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.28.36-768x429.png 768w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.28.36-1536x858.png 1536w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.28.36-2048x1143.png 2048w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-26-at-15.28.36-150x84.png 150w" sizes="(max-width: 2728px) 100vw, 2728px">
 <figcaption id="caption-attachment-214128" class="wp-caption-text">
 Solana derivatives analysis data | Coinglass
 </figcaption>
</figure> 
The competitive smart contracts token, known for its drastic price actions, currently seeks support at $160 amid calls to extend the leg up to $164 and complete the falling wedge pattern’s 14% breakout to $164. 
An upcoming 50-day EMA and 200-day EMA crossover will encourage traders to focus on long positions. The golden cross suggests that <a href="https://coingape.com/price/solana/">SOL price</a> is gaining momentum and may continue to rise. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full" src="https://www.tradingview.com/x/EWFMROO1/" alt="SOL price chart | Tradingview " width="2710" height="1434">
 <figcaption class="wp-caption-text">
 SOL price chart | Tradingview
 </figcaption>
</figure> 
A daily close below $160 support areas will accentuate correction with <a href="https://coingape.com/price-predictions/solana-sol-price-prediction/">Solana price forecast</a> targeting $155 near the 20-day EMA. The RSI is back in the neutral region and dropping to tag the midline (50), which may call on traders to consider shorting SOL, intending to buy at lower levels, including $150 and $140. 
The post <a href="https://coingape.com/markets/top-2-solana-bitcoin-price-prediction-btc-gears-up-for-70k-with-543m-fund-inflows/">Top 2 Solana &amp; Bitcoin Price Prediction: BTC Gears up for $70K with $543M Fund Inflows</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Top 2 Solana & Bitcoin Price Prediction: BTC Gears up for $70K with $543M Fund Inflows

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