Cryptocurrencies Price Prediction: Bitcoin, Quant & Crypto – European Wrap 13 November

FXStreet Team FXStreet

Bitcoin Price Forecast: BTC consolidates near $102,800 as market indecision persists

Bitcoin (BTC) price is trading sideways around $102,800 at the time of writing on Thursday, reflecting persistent market indecision after encountering resistance earlier this week. The range-bound price action is further supported by mixed flows in spot Bitcoin Exchange Traded Funds (ETFs). At the same time, on-chain data indicate that BTC is stabilizing within a defined range between $97,000 and $111,000, with no clear macro catalyst, suggesting that a decisive breakout may still be some distance away.

Quant Price Forecast: QNT eyes breakout rally as whales expand holdings

Quant (QNT) price is up 11% by press time on Thursday, advancing towards the upper band of a consolidation range. The short-term recovery aligns with a surge in demand from large wallet investors, known as whales, and a risk-on shift among derivatives traders.

The cryptocurrency market is stagnating, lagging its competitors

The cryptocurrency market capitalisation has changed little over the past day, fluctuating around $3.5 trillion. The cryptocurrency fear index has fallen to 15, its lowest level since 4 March. Notably, the cryptocurrency market has been left out of the recent rally in precious metals and stock indices. If this is not an attempt by whales to lock in profits from the rally since April or even from the growth of the last two years, then it is an alarming signal of deep-seated risk aversion that is about to manifest itself in larger markets.

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EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.