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Cryptocurrencies Price Prediction: Ethereum, Bitcoin & EOS – European Wrap 16 May

FXStreet Team FXStreet

Is Ethereum's comeback real?

Ethereum (ETH) is making a comeback after months of underperformance. At the time of writing on Friday, it hovers above$2,500 after soaring nearly 100% since early April's bottom.

The Pectra upgrade has seen swift adoption, with more than 11,000 EIP-7702 authorizations already processed in a week, indicating healthy uptake by wallets and Decentralized Applications (dApps).

Bitcoin Weekly Forecast: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week. Risk-on sentiment prevails, driven by global trade deals between the United States (US) and other countries, strong corporate accumulation, and spot Exchange Traded Fund (ETF) inflows. However, traders should be cautious as defunct exchange FTX announces its second round of repayments, which would inject volatility into the crypto market.

Global markets were buoyed this week by major trade developments and cooling inflation data from the US. On Monday, the US and China agreed to a 90-day tariff reduction deal, lowering US tariffs on Chinese goods from 145% to 30%, and Chinese tariffs on US goods from 125% to 10%.

EOS price climbs as sentiment improves following $3 million purchase by President Trump's World Liberty Financial

EOS edges 9% higher, trading around $0.85 on Friday, while prices consolidate in the broader cryptocurrency market. The surge in EOS, rebranding to Vaulta to drive a Web3 banking network, comes amid improved sentiment bolstered by United States (US) President Donald Trump's World Liberty Financial buying the token.

President Trump's World Liberty Financial has sought exposure to the token, spending nearly $3 million in USDT to buy approximately 3.363 million EOS. According to SpotOnChain, the purchase was completed at an average cost of $0.82.

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FXStreet Team

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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.

XRP extends decline as muted on-chain activity, bearish technicals weigh

Ripple (XRP) continues to trade under heavy selling, trading below $1.10 at the time of writing on Wednesday. The remittance token marks four consecutive days of declines, weighed down by geopolitical tensions and significantly low risk appetite.

Crypto Today: Bitcoin, Ethereum, XRP extend technical weakness amid escalating tensions in the Middle East

Cryptocurrencies are broadly extending declines on Wednesday, after last week’s recovery. The sell-off has seen Bitcoin (BTC) slide below $62,000, increasing downside risks toward the next key support at $60,000.

Solana nears key support zone as bears aim for a 20% downside

Solana price is down 3% on Wednesday, extending a bearish reversal after an overhead trendline capped the previous week’s recovery. Institutional inflows eased to $1.67 million on Tuesday, while declining Open Interest and fluctuating funding rates indicate mixed retail demand.

Hyperliquid extends losses as retail demand fades

Hyperliquid (HYPE) slips below $70 on Wednesday, extending a steady decline so far this week. A broader market risk-off sentiment weighs down on the retail support for HYPE despite steady institutional demand, with $4.32 million in inflows on Tuesday.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.