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Cryptocurrencies Price Prediction: Bitcoin, Shiba Inu & Crypto – European Wrap 10 October

Cryptocurrencies Price Prediction: Bitcoin, Shiba Inu & Crypto – European Wrap 10 October
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Forecast: BTC vulnerable despite surge in stablecoin market capitalization

Bitcoin (BTC) price stabilizes around $61,000 on Thursday after closing below the key support level of $62,000 on Wednesday. This indicates a potential shift in market sentiment in the short term as institutional demand wanes, as shown by two straight days of outflows in US Spot Bitcoin Exchange Traded Funds (ETFs). However, the increasing stablecoin market capitalization could suggest underlying bullish sentiment and future recovery opportunities.

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Shiba Inu could dip 7% as SHIB whales reduce their holdings

Shiba Inu (SHIB), the second largest meme coin in the crypto ecosystem, edges slightly higher and trades at $0.00001710 at the time of writing on Thursday after a three-day decline. On-chain and technical indicators signal that further correction is likely in the meme coin. 

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These crypto tokens have the best chance of recovery: XRP, Solana, Ethereum, Bitcoin, Chainlink

Crypto intelligence tracker Santiment tracks the narrative among traders to identify which assets have the best chance of recovery. Typically, the assets that crypto traders have the most negative sentiment towards, have the best chance of recovery. 

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