Cryptocurrencies Price Prediction: Bitcoin, Quant & Crypto – European Wrap 9 September
Bitcoin recovers slightly after testing key support at $54,000
Bitcoin (BTC) recovered slightly on Monday, extending the weekend’s recovery after prices bounced from key support at $54,000 on Friday. This slight recovery amid the mild increase in the Coinbase Premium Index during the weekend. However, the recovery could be short-lived as on-chain data continues to lean to the downside, as shown by falling daily active addresses and a negative OI-weighted funding Rate.
Quant price is poised for a rally as on-chain data and price action show a bullish outlook
Quant’s (QNT) price, the token of a London-based blockchain technology company dedicated to improving network interoperability, recently broke out of a falling wedge pattern, hinting at a potential rally. This bullish price action is supported by increasing open interest, a negative spike in exchange floor balance, rising daily active addresses, and a decreasing supply on exchanges, all of which indicate a potential rally for Quant’s price on the horizon.
Over $100 million in token unlocks could affect crypto this week
Data from TokenUnlocks show key token unlocks worth $115 million scheduled for this week. The top three are Aptos (APT), Starknet (STRK) and Xai (XAI), these account for $115.80 million in unlocks this week.
This week’s top three cliff token unlocks, where a project distributes tokens locked for investors, community or advisors on a fixed schedule, include APT, STRK and XAI. Data from Tokenunlocks show.
Author
FXStreet Team
FXStreet
