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Cryptocurrencies Price Prediction: Bitcoin, Crypto & ZKB – European Wrap 9 September

Cryptocurrencies Price Prediction: Bitcoin, Crypto & ZKB – European Wrap 9 September
FXStreet TeamFXStreet TeamFXStreet

Bitcoin struggles around $57,000 as institutions load off BTC holdings

Bitcoin (BTC) recovered on Wednesday after retesting its daily support level of around $56,000, but the 2.15% decline on Thursday suggests this rebound may be fleeting. The downtrend may persist if BTC drops below the $56,000 support, evidenced by Lookonchain and Arkham intelligence data indicating institutional selling, alongside bearish on-chain signals such as decreasing daily active addresses and a declining Coinbase premium index.

These are the five narratives fuelling fears in crypto markets

Crypto markets are going through a tough ride this September so far, with most assets registering hefty losses as investors turn risk-averse. This fear among traders is driven by five key narratives, according to analysts from Santiment, who have examined the role of each of them in shaping the crypto market cycle and their impact on future prices.

Switzerland’s largest cantonal bank ZKB partners with Crypto Finance to launch crypto asset services

Zürcher Kantonalbank (ZKB), Switzerland’s largest cantonal bank, has partnered with Crypto Finance AG to offer its clients crypto asset services. This partnership represents a major milestone in advancing the broader acceptance of cryptocurrencies in Switzerland.

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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.

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CFTC Chairman pushes for crypto regulations as agency seeks public comments on proposed rules

CFTC Chairman pushes for crypto regulations as agency seeks public comments on proposed rules

Commodity Futures Trading Commission Chairman, Michael Selig, said the agency will move ahead with crypto market regulations after Congress failed to advance legislation that would have established a broader framework for digital assets.

Ripple and Stellar outlook: XRP and XLM weaken as derivatives positioning fades

Ripple and Stellar outlook: XRP and XLM weaken as derivatives positioning fades

Ripple and Stellar face pressure trading below $1.499 and $0.220, respectively, after a modest correction at the start of the week. Traders should be cautious as weakening derivatives metrics and fading bullish momentum suggest further corrections for XRP and XLM. Derivatives data shows a weakening and cautious signal among traders.

Zcash Price Forecast: NU7 upgrade sets the stage for ZEC to resume its rally

Zcash Price Forecast: NU7 upgrade sets the stage for ZEC to resume its rally

Zcash hovers around $1,348 sustaining its mild gains from Sunday. The network upgrade NU7 went live on Monday, boosting transaction speed and redirecting 60% of transaction fees into future rewards. The institutional outflow eased to roughly $3.50 million on Monday, down from $93.56 million last week, suggesting reduced pressure from redemptions.

Ethereum Price Forecast: BitMine scoops extra ETH tokens following Q3 outperformance

Ethereum Price Forecast: BitMine scoops extra ETH tokens following Q3 outperformance

Ethereum (ETH) treasury firm BitMine Immersion continued its buying streak of the top altcoin last week. The firm acquired 15,112 ETH, lifting its holdings to 6.016 million ETH, representing 4.9% of ETH's circulating supply and worth $16.16 billion at the time of writing. That brings the company roughly 98.5% closer to acquiring 5% of ETH's supply, a goal it tags "Alchemy of 5%."
Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.