Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Solana – European Wrap 1 September

Crypto Today: Bitcoin, Ethereum, XRP offer recovery signals as bearish September sentiment spreads

Bitcoin (BTC) price edges higher toward the $110,000 level on Monday following a weekend characterized by widespread drawdowns. Sentiment in the broader cryptocurrency market remains largely unstable, as investors fear that the downtrend in August may continue into September. 

September has historically been bearish for Bitcoin, and by extension, the cryptocurrency market. Apart from the two previous Septembers, where BTC recorded returns of 7.3% and 3.9%, the bearish streak dates back to 2017. 

Bitcoin Price Forecast: BTC recovers above $109,000 as Fed rate cut bets offset cautious sentiment

Bitcoin (BTC) begins the week in recovery mode, trading above $109,000 at the time of writing on Monday, following a nearly 5% decline in the previous week. The institutional demand helps BTC cushion downside pressure as Metaplanet added 1,009 BTC on Monday, while US spot Exchange Traded Funds (ETFs) logged more than $440 million in weekly inflows. Despite lingering caution across markets, traders continue to bet on the US Federal Reserve (Fed) interest rate cut this month, offering support to risk assets such as BTC.

Bitcoin price has fallen nearly 14% from its record high of $124,474 on August 14 to a low of $107,350 on Saturday. This price correction was mostly fueled by the hot US Personal Consumption Expenditures (PCE) Price Index report for July released last week.

Solana Price Forecast: SOL price stabilizes as new consensus proposal Alpenglow is likely to pass

Solana (SOL) price is stabilizing around $200 at the time of writing on Monday, extending last week’s nearly 3% decline, but optimism is building around a key network upgrade. Reports indicate that the Alpenglow (SIMD-0326) consensus proposal is likely to pass on Tuesday, aiming to reduce block finality from 12.8 seconds to just 50 milliseconds. Meanwhile, the derivatives data showing positive funding rates suggest that SOL could be positioned for a recovery in the upcoming days.

According to Wu Blockchain data on Monday, Solana’s new consensus proposal, Alpenglow (SIMD-0326), is currently marked as passed, with the voting period running from Epochs 840 to 842 and expected to conclude around Tuesday.