Cryptocurrencies Price Prediction: Lido DAO, ETP & Cryptos – American Wrap 20 November

FXStreet Team FXStreet

Lido DAO price rally could continue amidst accumulation by institutions and bullish on-chain metrics

Lido DAO token (LDO), a liquid staking token, is likely being accumulated by crypto asset management firms like Amber Group and trading firms like FalconX. Two catalysts, LDO accumulation by institutions and bullish on-chain metrics, could drive LDO price higher.

Crypto ETP volumes surge 91%, outpacing underlying assets: Report

Global cryptocurrency exchange-traded products (ETP) have seen a significant uptick in 2023, reportedly outpacing the growth of underlying assets, according to a report by the digital asset platform Fineqia, seen by Cointelegraph.

Week Ahead: AI and Nvidia are this week’s focus

In addition to the Sam Altman controversy, the graphic card manufacturer NVIDIA’s earnings are set to be released on Tuesday, which has added a tailwind to these tokens.

Render Token rallied 60% in the last five days.
Fetch.AI has inflated by 55% in the last six days.
Ocean Protocol’s OCEAN token has soared 43% in the last six days as well.
Worldcoin bounced by 50% in just two days but is retracing lower due to the Altman controversy.

The crypto markets are likely to move freely this week due to the lack of major macroeconomic events.

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FXStreet Team

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XRP approaches key support as risk-off sentiment deepens

Ripple (XRP) is trading at $1.06 on Monday, maintaining its position within a broader bearish trend. The token’s technical outlook continues to deteriorate, pressured by declining retail participation. Appetite for risk assets remains lethargic, as reflected in the Fear & Greed Index, which is embedded in the Fear territory at 28.

Crypto Today: Bitcoin, Ethereum, XRP extend decline amid renewed risk-averse sentiment

The cryptocurrency market remains weak on Monday, with Bitcoin (BTC) falling toward the nearest $62,000. Ethereum (ETH) and Ripple (XRP) reflect the sell-off across altcoins, edging lower toward $1,800 and $1.05, respectively. Risk appetite remains subdued, as the Fear & Greed Index holds steady at 28, deep within Fear territory.

The Bitcoin futures yield collapse: Once over 20%, now less than Treasury notes

Once a goldmine for carry traders, Bitcoin futures have flipped, consistently underperforming plain‑vanilla U.S. Treasuries every month since February. Carry trades consistently yielded 20% or more across regulated and unregulated crypto exchanges during the 2021 bull market. The strategy involved shorting Bitcoin futures while simultaneously buying a spot exchange-traded fund (ETF).

The crypto market is moving in the opposite direction to equities

The crypto market’s market capitalisation has fallen by 1% over the past 24 hours, returning to levels last seen in mid-July. The positive momentum the market showed in the first half of last week failed to take hold. Once again, we are seeing a negative correlation with the Nasdaq 100 index, this time in the form of falling cryptocurrencies while shares rise. Could this be becoming the new norm?

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.