|

Cryptocurrencies Price Prediction: Solana, Bitcoin & Ethereum – European Wrap 8 December

Solana Price Forecast: SOL flashes breakout potential on steady derivatives, ETF demand

Solana (SOL) edges higher by almost 5% at press time on Monday after a Doji candle formation on Sunday. Derivatives data indicate a rise in funding rate, signaling reduced incentive for traders to hold short positions. Meanwhile, the Solana-focused Exchange Traded Funds (ETFs) mark their sixth consecutive week of inflows, indicating a steady interest from institutional investors.

Chart

Bitcoin and ether shrug off weekend losses

“While last week ended poorly for crypto assets, raising fears of a renewed drop, the new week looks much more positive. While bitcoin spent the weekend below $90,000 and ether stumbled below $3000, buyers took the chance to jump on board, renewing the move higher. This should remind investors that bottoms are processes, not single events. The dip last Monday found buyers, as did the weekend’s losses, and a close back above last week’s high would reinforce the view that a low has formed for the time being.”

Ethereum ‘smart’ whales open $426M long bets as ETH price chart eyes $4K

Ethereum whales have opened massive long positions on Ether, totalling $425.98 million, in what looks like a bold bet that the downside is over.

Data from Cointelegraph Markets Pro and TradingView showed the ETH/USD pair trading at $3,140, 20% above the $2,621 low reached on Nov. 21. 

Author

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.

More from FXStreet Team
Share:

Editor's Picks

Zcash Price Forecast: ZEC poses 20% downside risk amid steady ETF outflows

Zcash price is trading below $1,300 continuing a steady decline over the past 10 days and slipping from its $1,698 peak on September 27. Grayscale’s ZEC Exchange-Traded Fund continues to record consistent outflows, with $8.49 million on Wednesday, suggesting reduced demand following the recent stock split.

Ripple and Stellar outlook: XRP and XLM test key support amid rising downside risks

Ripple and Stellar remain under pressure and extend their corrections as weakening derivatives metrics and broader macroeconomic headwinds weigh on sentiment. XRP and XLM approach a key support zone after three consecutive days of losses so far this week.

Samsung partners with Solana to integrate stablecoins into US Galaxy devices

Samsung announced a partnership with Solana to integrate the US Dollar stablecoin issued by Circle, USDC, into US Galaxy devices, supporting cross-border remittances. The feature will be built into the Samsung Pay and Samsung Wallet apps, sharing the same screen used for displaying credit cards and boarding passes.

Cryptocurrencies face new security risk as Ethereum researcher warns of potential ECDSA break
Ethereum (ETH) researcher Justin Drake has urged the crypto industry to begin preparing for a potential breakthrough that could undermine the cryptographic systems securing digital assets. In an X post on Wednesday, Drake called on the industry to calmly enter what he described as “bunker mode.”
Bitcoin: Is BTC setting up for an Uptober rally?
Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.