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

Cryptocurrencies Price Prediction: Bitcoin, Polygon & Crypto – European Wrap 7 October
FXStreet TeamFXStreet TeamFXStreet

Bitcoin’s recovery stalls just short of rescuing its last underwater cohort

Only one yearly Bitcoin buyer cohort remains underwater, according to CheckOnChain data: investors who bought in 2025, with an average cost basis of approximately $88,000, which may now be forming a key resistance level due to sell pressure from relatively recent buyers.

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Polygon Price Forecast: POL extends decline as shutdown rumors fuel panic selling

Polygon (POL) is down nearly 5% on Wednesday, amid selling pressure linked to rumors of a network shutdown sparked by a social media post. Derivatives data shows a sell-side dominance as Open Interest declines 13% over the last 24 hours while funding rates flip negative. The technical outlook for POL indicates downside risk, with building pressure at the 200-day Exponential Moving Average (EMA) and a rising trendline support cluster near the $0.1000 psychological threshold.

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Crypto Today: Bitcoin, Ethereum and XRP fall liquidating $550M

The cryptocurrency market is experiencing ongoing liquidation, with Bitcoin (BTC) losing ground to trade near $84,000 at the time of writing on Wednesday. The Crypto King’s correction follows a recent rejection due to supply around $87,200.

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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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Quant Price Forecast: QNT rally capped at key resistance poses bearish reversal risk

Quant Price Forecast: QNT rally capped at key resistance poses bearish reversal risk

Quant price is down over 4% on Wednesday, risking a drop below $250 as buying pressure eases after a more than 350% rally last month. Retail strength in the DeFi token remains mixed, with Open Interest down over 6% in the last 24 hours, while negative funding rates ease toward neutral levels.

Chainlink Price Forecast: Short-term correction in LINK risks a bearish reversal to $10

Chainlink Price Forecast: Short-term correction in LINK risks a bearish reversal to $10

Chainlink is down over 3% at press time on Wednesday, facing short-term weakness as institutional and retail demand eases. LINK-focused Exchange Traded Funds witnessed three consecutive days of zero inflows, while LINK futures Open Interest is down over 5%, suggesting a mild positional wipeout.

Top 3 Price Prediction: BTC fails to hold $85,000, ETH downside risks rise, XRP momentum fades

Top 3 Price Prediction: BTC fails to hold $85,000, ETH downside risks rise, XRP momentum fades

Bitcoin remains under pressure on Wednesday, trading below $84,100 after a 2.88% correction so far this week. Ethereum and Ripple followed in BTC’s footsteps and extended their corrections, trading below $2,620 and $1.500, respectively. Momentum indicators for these top three cryptocurrencies show signs of weakening and hint at deeper correction risk.

ZEC expands institutional momentum as Winklevoss files for Zcash ETF

ZEC expands institutional momentum as Winklevoss files for Zcash ETF

Winklevoss Asset Services, co-owned by crypto exchange Gemini founders Cameron and Tyler Winklevoss, filed a Form S-1 registration statement with the US Securities and Exchange Commission (SEC) on Tuesday for the Winklevoss Zcash (ZEC) ETF. The filing proposes a fund that would hold ZEC and seek to track its price.
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.