Cryptocurrencies Price Prediction: Bitcoin, Solana & Zcash – European Wrap 10 November
|Bitcoin Price Forecast: BTC reclaims $106,000 as US government shutdown resolution lifts sentiment
Bitcoin (BTC) price reclaims $106,000 at the time of writing on Monday, after rebounding from a key support zone last week. Market sentiment improved slightly following the US Senate’s move to end the longest government shutdown in history, boosting risk appetite across financial markets. However, institutional confidence remains under pressure as US-listed spot Bitcoin Exchange Traded Funds (ETFs) recorded $1.22 billion in weekly outflows, signaling cautious investor sentiment despite the broader recovery.
Bitcoin price begins the week on a positive note, trading above $106,000 on Monday. The recovery comes after the US Senate took the first step to end the longest government shutdown in history on Sunday night in Washington.
Solana Price Forecast: SOL rebounds amid steady retail, institutional demand
Solana (SOL) price is up nearly 2% at press time on Monday, extending the over 4% gains from the previous day. The rebound from the $150 psychological level signals strong demand, as evidenced by the consistent daily net inflows in the US spot Solana Exchange Traded Funds (ETFs).
Furthermore, the retail interest increases their exposure to Solana futures, anticipating extended gains. Still, the technical outlook suggests that a previous key support zone has become resistance, posing a significant overhead hurdle that could stall the recovery.
Zcash Price Forecast: ZEC bulls eye $750 as Open Interest hits record $1.13 billion
Zcash (ZEC) price continues its strong upward momentum, trading above $680 at the time of writing on Monday, building on last week’s 47% rally. Derivatives market data show growing bullish sentiment, with Open Interest (OI) soaring to a new all-time high of $1.13 billion and long positions hitting a monthly peak. The technical analysis further supports the bullish outlook, with ZEC poised to target levels above $750 if the momentum persists.
CoinGlass’ data shows that ZEC futures OI at exchanges rose to a new all-time high of $1.13 billion on Monday. Rising OI represents new or additional money entering the market and new buying, which could fuel the current ZEC price rally.
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