Cryptocurrencies Price Prediction: Bitcoin, Enjin Coin & AVAX — Asian Wrap 15 November

FXStreet Team FXStreet

Bitcoin price nearly crashes below $35,000 as stock markets add $739 billion in a few hours

Bitcoin price, at the time of writing, is witnessing an uptrend flip for the first time in a month on the daily chart. The credit for this goes to the US Bureau of Labor Statistics (BLS), which released the Consumer Price Index (CPI) data for the month of October, surpassing expectations. The crypto market, however, did not see eye to eye.

Enjin Coin price works out a 20% recovery amid mounting bullish metrics for ENJ

Enjin coin (ENJ) price has been on a steep downtrend following a rejection from the $0.3277 resistance level, a key hurdle that capped the upside potential of the cryptocurrency. However, the tables seem to have turned, with on-chain metrics showing the bulls are actively taking over.

AVAX price recovers slightly after 15% crash but remains stuck in 15-month consolidation

AVAX price was among the top performers during the recent bull run, but like every altcoin, Avalanche’s native token is also witnessing corrections and decline. Although this may seem like a one-time, isolated event, the chances are that a dip in value is right around the corner.

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FXStreet Team

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Bitcoin derivatives reset as leverage cools amid subdued spot demand

Bitcoin's recent correction has reduced leverage across derivatives markets, creating a healthier structure amid weak spot trading activity, according to a report from CryptoQuant on Monday. The report stated that Bitcoin's decline over the past few weeks appears to reflect a broad futures market reset rather than the buildup of new speculative positions.

Ripple and Stellar outlook: Under selling pressure as cautious sentiment raises downside risks

Ripple and Stellar remain under selling pressure as cautious market sentiment continues to weigh on the broader crypto market. XRP struggles to reclaim the upper boundary of its falling channel, while XLM extends its decline for a fifth consecutive day.

Crypto Overview: Bitcoin holds steady as ETF outflows decline – DEXE and TIA extend gains

Bitcoin hovers above $64,000 holding steady after a roughly 4% drop last week. Data shows that institutional outflows are easing, suggesting broader market recovery potential, while DeXe and Celestia have emerged as frontrunners over the last 24 hours.

Ethereum Price Forecast: Ethlabs launches as new ecosystem steward funded by BitMine, SharpLink

Ethereum treasuries BitMine Immersion and SharpLink, alongside co-founder Joe Lubin, have partnered to fund Ethlabs, a new research and development lab for the smart contract blockchain.

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.