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Cryptocurrencies Price Prediction: Ethereum, FTX & Bitcoin – European Wrap 09 May

Cryptocurrencies Price Prediction: Ethereum, FTX & Bitcoin – European Wrap 09 May
FXStreet TeamFXStreet TeamFXStreet

Ethereum price to slide lower as Binance congestion gridlock trips up top 3 coins

Ethereum (ETH) price had a rough session on Monday as Binance reported issues liftingf its ban on Bitcoin withdrawals that had to be reinstated only hours after it got lifted. With massive congestion as a result, major cryptocurrencies slid lower intraday and only saw some losses being pared back in the last US session on Monday. Ethereum price sees its bulls unable to break above the key 55-day Simple Moving Average (SMA) as the price undergoes a firm rejection and is bound to head substantially lower.

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FTX creditors await retrieval of lost funds as Alameda Research receives $57.5 million in Tether

A crypto intelligence tracker Arkham Intel recently identified the on-chain transfer of more than $57 million in cryptocurrencies to Alameda Research’s wallets. These wallets are wholly controlled by the Bankruptcy Estate that was created to aid creditors of Samuel Bankman-Fried’s defunct firms – Alameda Research and FTX exchange.

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Bitcoin price dips below $28,000 as global macro liquidity continues to drain

Bitcoin price has had a rather better performance over the last couple of weeks in comparison to the rest of the digital assets. This kept the cryptocurrency dominating the market, which, by the looks of it, might bear results if this happens.

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FXStreet Team

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.

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Has Bitcoin really escaped the macro forces it was built to fight?

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

Ethereum activates Glamsterdam on Sepolia testnet: Why the price is falling anyway

Ethereum activates Glamsterdam on Sepolia testnet: Why the price is falling anyway

Ethereum (ETH) has reached a key milestone in its next major network upgrade. The planned changes aim to improve Ethereum’s Layer 1 capacity and efficiency as network activity grows. The development comes as ETH retreats toward $2,500.

Bitcoin Weekly Forecast: Uptober or Rektober?

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Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.

Ripple bulls gather recovery momentum amid returning ETF inflows

Ripple bulls gather recovery momentum amid returning ETF inflows

Ripple (XRP) trades largely in bearish hands on Friday near $1.40. Although the remittance token has stabilized after a sharp sell-off from weekly highs of $1.53 to lows around $1.32, the path of least resistance remains downward, unless buyers affirm a daily close above the pivotal $1.40 level.

Bitcoin: Uptober or Rektober?

Bitcoin: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.