Cryptocurrencies Price Prediction: Shiba Inu, BNB & Crypto – European Wrap 3 October

FXStreet Team FXStreet

Shiba Inu and PEPE hold recent gains as Bitcoin hovers around $61,000

Bitcoin’s (BTC) price halts the decline and hovers around $61,000 at the time of writing on Thursday, after erasing recent gains and losing around 4.5% in the last seven days time frame. Over the same period, Shiba Inu (SHIB) and Pepe (PEPE) have held onto their gains, while Dogecoin (DOGE), the top meme coin by market capitalization, has lost around 3.2%.

BNB price is set for decline if it closes below key support level

Binance Coin(BNB) price trades slightly higher at around $548 on Thursday after declining 0.88% the previous day. It is currently trading near key support, and a sustained close beneath this level could indicate further declines. On-chain data further supports the bearish thesis as BNB’s long-to-short ratio is below one, and Total Value Locked (TVL) is falling, suggesting a potential price decline in the coming days.

The crypto market is still falling, but Bitcoin has already stabilised

The crypto market lost another 1.44% of its capitalisation in 24 hours to $2.13 trillion. The pressure is due to the ongoing wave of dollar gains and declines in risk assets due to the medium-term impact of the Middle East conflict and short-term profit-taking ahead of the US jobs report. The Sentiment Index returned to fear territory, falling to 37, a two-week low.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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