Cryptocurrencies Price Prediction: Bitcoin, Hyperliquid & Solana – European Wrap 20 October
|Bitcoin Price Forecast: BTC extends recovery above $111,000 despite heavy ETF outflows
Bitcoin (BTC) reclaims $111,000 on Monday, extending its weekend recovery after falling nearly 6% in the previous week. Spot Exchange Traded Funds(ETFs) recorded an outflow of over $1.2 billion, marking the second-largest weekly outflow since their launch. Despite the recent price dip, whale wallets continue to accumulate BTC while retail traders trim their exposure, reflecting a divergence between the two cohorts of traders.
Bitcoin kicks off the week with modest gains, trading above $111,000 at the time of writing and extending its weekend recovery. However, the institutional demand weakened last week as SoSoValue data shows that spot Bitcoin ETFs recorded a total of $1.23 billion in weekly outflows.
Hyperliquid Price Forecast: HYPE eyes a rebound as selling pressure wanes
Hyperliquid (HYPE) retraces back higher to the 200-day Exponential Moving Average (EMA), a key trend indicator, following three consecutive days of recovery. At the time of writing, HYPE edges higher by 3% on Monday, while the technical outlook and derivatives data suggest a decline in selling pressure.
Still, a drop in the perpetual Decentralized Exchange (DEX) activities indicates a lack of traders’ demand necessary to boost the price of Hyperliquid’s native token.
Solana Price Forecast: SOL extends recovery as trading volume surges
Solana (SOL) price extends its recovery, trading above $192 at the time of writing on Monday, after rebounding from the ascending trendline support last week. The recovery is supported by increasing trade volumes, which have climbed to levels last seen in mid-January, and expectations ahead of the upcoming Accelerate Asia Pacific Accreditation Cooperation (APAC) event on Friday, which could highlight key ecosystem developments.
Solana started the week on a positive note, extending the weekend recovery and trading above $192 during the early European trading session on Monday. Optimism surrounds the network ahead of the Accelerate Asia Pacific Accreditation Cooperation event starting Friday in China, which is expected to highlight Solana’s growing role in the region’s Decentralized Physical Infrastructure Networks (DePIN) ecosystem.
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