Cryptocurrencies Price Prediction: Bitcoin, Solana & Crypto – European Wrap 16 December

FXStreet Team FXStreet

Crypto Today: Bitcoin, Ethereum, XRP sell-off extends as extreme fear grips crypto market

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are trading under pressure on Tuesday as bearish sentiment in the broader cryptocurrency market lingers.

Despite Bitcoin trading above $86,000, up from an intraday low of $85,266, the overall outlook remains bearish, characterised by "extreme fear", according to the Crypto Fear & Greed Index.

Solana Price Forecast: SOL declines amid bearish signals, blockchain remains stable under DDoS attack

Solana (SOL) remains under bearish pressure, extending its decline for the third consecutive day with over 1% loss at press time on Tuesday. An ongoing Distributed Denial of Service (DDoS) attack on the Solana blockchain, peaking at 6Tbps, remains ineffective so far but continues to add pressure on traders’ sentiment. Additionally, the derivatives market sentiment is bearish, as Open Interest falls and funding rates turn negative.

FCA consults on UK crypto rules for exchanges, lending and DeFi

The United Kingdom’s Financial Conduct Authority (FCA) launched a series of consultations on proposed rules for digital asset markets, marking the next phase in the government’s effort to establish a comprehensive regulatory framework for crypto assets.

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Japanese Yen gains after hawkish Fed hold

USD/JPY trades near the 163.60 area on Wednesday, recovering from its immediate post-announcement decline as investors assess a generally hawkish Federal Reserve (Fed) monetary policy decision. The Federal Open Market Committee (FOMC) left the Fed funds rate unchanged within the 3.50%–3.75% range, as widely expected.

XRP edges up as Flare simplifies staking process

Ripple (XRP) holds modest gains, trading around $1.08 at the time of writing on Wednesday. The remittance token mirrors the general neutral-to-bullish outlook in the crypto market, as focus shifts to the Federal Reserve (Fed) rate decision. Market participants widely expect the Fed to leave interest rates unchanged in the 3.50%-3.75% range.

Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision

Cryptocurrency prices are broadly stable on Wednesday ahead of the Federal Reserve (Fed) interest rate decision. Bitcoin (BTC) holds above $64,000 but is struggling to sustain its rebound while Ethereum (ETH) sits above the short-term $1,900 support. Meanwhile, Ripple (XRP) is approaching the pivotal $1.10 resistance, a level that could shape the token’s upward trajectory if it is breached.

Bitcoin muted as markets fret over Fed, crypto bill

There are two main drivers for crypto this week, keeping Bitcoin trapped within its $58,000-$65,000 summer consolidation range. The cautious tone is being set by the Fed's policy decision scheduled later on Wednesday, a key catalyst for risk assets.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.