Cryptocurrencies Price Prediction: Bitcoin, Cardano & Crypto – European Wrap 7 October

FXStreet Team FXStreet

Bitcoin around record highs as fiscal instability and ETF inflows fuel rally

Bitcoin extended gains to a record high of 126.1k yesterday, before easing back to 124k at the time of writing. Other major altcoins have also experienced strong rallies, with Ethereum and Solana gaining 13% over the past 7 days and BNB jumping 27%.

Cardano Price Forecast: ADA eyes further gains as selling pressure wanes

Cardano (ADA) remains on the edge, pulling back 1% at press time on Tuesday after gaining over 4% the previous day. The rising retail demand and declining selling pressure signals from the on-chain data align with the broader market optimism around the “Uptober” narrative.

Crypto Today: Bitcoin steadies, Ethereum eyes record highs, XRP validating bullish pattern

Bitcoin (BTC) price is consolidating near $124,000 after reaching a new record high on the previous day. Ethereum (ETH) is gaining traction as institutional demand builds, fueling hopes of a rally toward record highs, while Ripple (XRP) finds support at a key technical level with bulls eyeing a climb toward $3.40.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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