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Cryptocurrencies Price Prediction: Ethereum, Cardano & Bitcoin – European Wrap 22 December

FXStreet Team FXStreet

BitMEX founder dumps Solana for Ethereum, forecasts $5,000 per ETH

BitMEX founder Arthur Hayes posted on social media platform X (formerly Twitter) that he has traded his Solana (SOL) holdings for Ethereum (ETH).

Hayes has been a strong proponent of Solana and expects the altcoin to reach $100, but in his recent post says that he has “dumped” Solana for Ethereum. Additionally, BitMEX founder forecasts ETH to hit $5,000 per coin, which would be a new all-time high. In the last bull cycle, ETH touched an all-time high of $4,868 but failed to reach this round psychological level. But considering the current bullish outlook and the chances of an ETF approval for Bitcoin, the chances Ethereum price rises to $5,000 is high.

Cardano on-chain metrics signal ADA holders should tread with caution

Cardano on-chain metrics signal the likelihood of a correction in ADA price as the altcoin’s holders engage in profit-taking. The Ethereum-killer altcoin rallied nearly 74% in the past month, sustaining above $0.61 on Friday, but this rally shows some signs of exhaustion.

According to on-chain data from crypto intelligence tracker Santiment, ADA holders are engaging in profit-taking. Starting December 4, Cardano chain transactions resulted in profits for traders. These profit-taking spikes coincide with an increase in large wallet transactions.

Bitcoin price could climb towards $48,000 target with upcoming US SEC approval on BTC Spot ETF

Bitcoin price sustained above $44,200 on Friday. The largest asset by market capitalization held on to its gains from the week as the market ushers in the report of likely Spot Bitcoin ETF approval by the SEC.

According to a Fox Business report, sources close to the SEC revealed that an approval is likely by January 10, 2024. Fox Business reports that sources close to the SEC unveiled that according to the recent guidance by the US financial regulator, an approval of the Spot Bitcoin ETF is likely by January 10.

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FXStreet Team

FXStreet

Crypto market dips as Senate postpones market-structure bill discussion after Coinbase withdrawal

The cryptocurrency market trades in the red on Thursday after the US Senate Banking Committee (SBC) postponed discussions on crypto market structure following Coinbase's withdrawal of support due to multiple issues.

Axie Infinity Price Forecast: AXS slides 7% as exchange netflow hits 3-year high

Axie Infinity price slides more than 7%, trading below $1.12 on Thursday, after a massive surge earlier this week. The bearish sentiment strengthens as AXS’s exchange netflow hits a 3-year high, alongside negative funding rates and rising short bets, all of which hint at a short-term price pullback.

Top Crypto Gainers: Dash, Internet Computer, Pump.fun rally approach crucial levels

Dash (DASH), Internet Computer (ICP), and Pump.fun (PUMP) are the top-performing crypto assets over the last 24 hours. DASH and ICP secured double-digit gains on Wednesday, while PUMP marked its fourth day of recovery.

Bitcoin shows strong correlation with institutional demand following 7% uptick

Bitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.

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Bitcoin: Early-2026 rally falters as BTC investors await key catalyst

Bitcoin (BTC) is trading lower toward $90,000 on Friday after encountering rejection at a key resistance zone. The price pullback in BTC is supported by fading institutional demand, as spot Exchange Traded Funds (ETFs) have recorded net outflows so far this week.