Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Cardano – European Wrap 5 September

FXStreet Team FXStreet

Crypto Today: Bitcoin renews bid for $118,000, Ethereum and XRP show recovery signs

Cryptocurrency prices are showing signs of recovery on Friday, led by Bitcoin (BTC), which has reclaimed support above $112,000. Altcoins, including Ethereum (ETH) and Ripple (XRP), are edging higher, reflecting easing selling pressure.

Bitcoin, having reached its record high of $124,474, has since encountered intense volatility, triggered by macroeconomic uncertainty and profit-taking, especially from long-term holders. The risk-off sentiment spread to the derivatives market, which saw significant cooling. Bitcoin’s Open Interest (OI) averages at $79.21 billion at the time of writing after peaking at $88 billion on July 15.

Gold hits a new all-time high: What does this mean for Bitcoin?

While Gold (XAU/USD) has climbed to a new all-time high of $3,578 in early September, Bitcoin (BTC) struggled, retesting July lows after a three-week decline, reigniting the debate about Gold’s role versus Bitcoin as a store of value. Correlation between both assets remains weak, which challenges the “digital gold” narrative but supports both as complementary hedges. To gain more insights into Gold and Bitcoin, FXStreet interviewed some experts in the crypto markets.

Cardano Price Forecast: ADA gears up for a potential breakout run

Cardano (ADA) trades above $0.80 at press time on Friday, with bulls trying to overcome the 3.26% loss from the previous day. Cardano’s recovery teases a potential falling wedge pattern breakout on the 4-hour chart amid steady optimism among derivative traders. However, the on-chain data flash weakness as profits and network activity decline.

The Network Realized Profit/Loss (NRPL) is used to gauge the net amount of profit or loss realized by token holders after on-chain transactions. Santiment data shows Cardano’s NRPL stands at 3.48 million ADA, down from 13.98 million ADA on Thursday. This indicates a significant decline in the amount of profits booked by ADA holders, suggesting a drop in bullish momentum.

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FXStreet Team

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XRP rebound remains fragile as muted ETF flows and weak technicals cap upside

Ripple (XRP) is regaining momentum, trading above $1.10 at the time of writing on Monday. This modest rebound mirrors the broader recovery observed across the cryptocurrency market.

Bitcoin Weekly Forecast: Strategy sells, the market doesn’t care

Bitcoin reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning.

Pi Network tests key support as bears anticipate further decline

Pi Network tests $0.1000 on Friday, edging higher after six consecutive days of weakness. The technical outlook is bearish as intense sell-side momentum warns of a steeper correction despite mild intraday recovery.

Uniswap Price Forecast: Rising stablecoin activity fuels UNI bullish rally chances

Uniswap is up 3% on Friday, extending its rebound from the 50-day EMA at $3.08. Retail demand builds around Uniswap as Open Interest rises 5% in 24 hours, with a positive spike in the funding rate.

Bitcoin: Strategy sells, the market doesn’t care

Bitcoin (BTC) reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning. Meanwhile, traders have digested headlines about Strategy’s recent Bitcoin sale, highlighting the Crypto King’s resilience and deep liquidity.