Cryptocurrencies Price Prediction: Bitcoin, Chainlink & BNB – European Wrap 3 October
|Bitcoin Weekly Forecast: Will "Uptober" deliver?
Bitcoin (BTC) price hovers around $120,000 at the time of writing on Friday, following a strong weekly rally of nearly 7% amid optimism surrounding the ‘Uptober’ narrative. Institutional demand supports the price rise, with BTC’s spot Exchange Traded Funds (ETFs) recording a weekly inflow of over $2 billion, while firms such as Metaplanet and Strategy add BTC to their reserves.
Chainlink Price Forecast: On-chain, derivatives data flash downside risk
Chainlink (LINK) price is down by 2% at the time of writing on Friday, inching closer to its 50-day Exponential Moving Average (EMA) at $22.15. The on-chain and derivatives data flash the risk of potential downside extension as the interest of traders and large wallet investors, commonly referred to as whales, declines. Meanwhile, the technical outlook highlights a key support band that could extend the LINK price movement within a symmetrical triangle pattern.
BNB Price Forecast: BNB hits record-high as Binance CEX holdings, BNB Chain grows
BNB, previously known as Binance coin, holds a steady uptrend above $1,100 at the time of writing on Friday, entering the price discovery mode. The rally is on the back of Binance’s record-high holdings and the BNB Chain, previously known as Binance Smart Chain (BSC), network growth. Both the technical outlook and derivatives data suggest further gains if the momentum sustains.
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