Cryptocurrencies Price Prediction: Bitcoin, Cardano & Crypto – European Wrap 8 November

FXStreet Team FXStreet

Bitcoin Weekly Forecast: Further upside likely after hitting new all-time high

Bitcoin (BTC) surged more than 10% this week, hitting a new high of $76,849 on Thursday, buoyed by the crypto-friendly candidate Donald Trump’s victory in the US presidential election.

Cardano breaks above descending trendline, eyes April high as bullish momentum builds

Cardano (ADA) extends its gains on Friday, trading 5% higher at the time of writing after rallying 12% and closing above its descending trendline on Thursday. The technical outlook and on-chain metrics support ADA’s rise, which shows that bullish momentum is gaining traction and suggests a continuation of the rally.

The crypto market stands on top

The cryptocurrency market is consolidating near the $2.5 trillion mark after pulling back slightly from the local peak. Judging by intraday performance, the market is undergoing a shakeout of positions as some players close positions related to the idea of a Republican victory. The market's further momentum will depend on whether politicians continue to support crypto, which creates the risk of volatility.

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Ripple holds $1.82 support as low retail demand weighs on the token

Ripple (XRP) is trading between a key support at $1.82 and resistance at $2.00 at the time of writing on Thursday, reflecting the lethargic sentiment in the broader cryptocurrency market.

Aster declines for fifth straight day despite buyback efforts

Aster trades under intense selling pressure, recording 3% loss at press time on Thursday. The perpetual-focused exchange resumed its Stage 4 buyback program on Wednesday and currently holds almost 52 million ASTER tokens.

Crypto Today: Bitcoin, Ethereum hold steady while XRP slides amid mixed ETF flows

Bitcoin eyes short-term breakout above $87,000, underpinned by a significant increase in ETF inflows. Ethereum defends support around $2,800 as mild ETF outflows suppress its recovery. XRP holds above at $1.82 amid bearish technical signals and persistent inflows into ETFs.

Bitcoin steadies near $87,000 as strong ETF inflows offset bearish pressure

Bitcoin is attempting to stabilize, holding near $87,000 on Thursday after this week’s pullback. Institutional demand shows signs of optimism, as US-listed spot Bitcoin Exchange-Traded Funds (ETFs) recorded fresh inflows of over $457 million on Wednesday.

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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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