Cryptocurrencies Price Prediction: Bitcoin, Pepe & Pi Network – European Wrap 22 April

Bitcoin Price Forecast: BTC surges above $78,000 amid US-Iran ceasefire extension, US Treasury buyback plan

Bitcoin (BTC) extends its gains, trading above $78,000 on Wednesday after surging by more than 6% this week. Institutional demand remained relatively muted on Tuesday, with US-listed Bitcoin spot Exchange Traded Funds (ETFs) recording a mild inflow amid uncertainty surrounding the second round of US-Iran peace talks, keeping investors cautious. Meanwhile, the US Treasury's buyback plan this week could inject additional liquidity into markets and boost the Crypto King price.

Bitcoin price started the week on a positive note, fully recovering its weekend losses by mid-week and climbing to a high of $78,452 on Wednesday, levels not seen since February 3.

Pepe Price Forecast: PEPE extends rebound as broader market risk-on mood lifts retail activity

Pepe (PEPE) is trading in the green at press time on Wednesday, edging higher for the third consecutive day. The frog-themed meme coin regains retail strength amid a boost in the broader market sentiment. The technical outlook for Pepe is cautiously bullish as the price tests the breakout of a key resistance trendline. 

A boost in the broader market, despite the ongoing US-Iran blockade of the Strait of Hormuz and faltering peace talks, lifts retail demand for meme coins. CoinMarketCap data shows the Fear and Greed Index at 62 on Wednesday, with a steady rise seen in risk appetite since the US-Iran ceasefire announcement. 

Pi Network Price Forecast: PI loses steam despite the launch of smart contracts on testnet

Pi Network (PI) is trading around $0.1700 at press time on Wednesday, reflecting a broader retracement within a falling channel pattern. The launch of smart contracts on the Pi Testnet under a subscription model marks functionality-focused expansion through consistent protocol upgrades.

Meanwhile, the over 30 million Pi tokens released by the Pi Foundation outweigh the roughly 2.75 million Pi tokens withdrawn from Centralized Exchanges (CEXs), suggesting increased supply pressure.