|

Cryptocurrencies Price Prediction: Bitcoin, Avalanche & Cryptos – American Wrap 05 October

United States adds total market cap of Bitcoin worth of debt in 15 days, fear of recession intensify

The economic and political conditions of the United States have been feeding the concerns of a recession. The fear of a government shutdown, the removal of McCarthy as Speaker, and the rising debt are increasing the worry among citizens. However, some are seeing this as an opportunity for crypto to make a bullish turn.
US Debt-to-GDP ratio
Friend.tech, which rose to popularity for its concept, has witnessed a bunch of competition arise and fall since its launch in August. However, one Avalanche-based protocol stood apart, which is now being touted for a broken code that allegedly led to an exploit.
AVAX/USD 1-day chart
US small lenders aren’t still out of the woods as the financial stress that caused several failures in the sector earlier this year persists. There are signs that another banking crisis could be in the making, BitMEX’s co-founder Arthur Hays said. Meanwhile, a Fed official recently attributed the collapse of Silvergate Bank partly due to its dependency on crypto assets.  
 

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

More from FXStreet Team
Share:

Editor's Picks

Is Shiba Inu dead or just in a crisis? The data behind SHIB's 95% crash

Shiba Inu (SHIB), the dog-themed meme coin that became one of the biggest success stories in crypto and turned early buyers into crypto millionaires, is facing tough times. Its price has fallen more than 32% so far this year, and it is down 95% from its all-time high in 2021.

Crypto Market Overview: Bitcoin, Zcash and Bittensor rebound, but are these gains sustainable?

Bitcoin upholds a subtle recovery outlook on Monday, trading above $64,000 as investors reengage amid easing geopolitical tensions, particularly in the Middle East. Altcoins are broadly rising, led by Zcash and Bittensor, indicating a positive short-term turnaround.

Crypto Today: Bitcoin, Ethereum, XRP rise slightly as US-Iran peace talks make progress

Cryptocurrency prices are broadly rising on Monday, with Bitcoin reclaiming support above $64,000. Ethereum holds above $1,700 as bulls target a short-term breakout above $1,800. Meanwhile, Ripple is back above $1.13 after testing the $1.12 support level.

Bitcoin struggles as ETF outflow streak extends to six straight week

Bitcoin trades around $64,000 at the time of writing on Monday after declining nearly 4% in the previous week. BTC investors remain cautious despite signs of progress in the first round of US-Iran peace talks in Switzerland.

Bitcoin: Recovery hopes fade after the Fed spoils the party
Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.