Cryptocurrencies Price Prediction: Bitcoin, Solana & Crypto – European Wrap 10 September
|Bitcoin price recovers, breaking above $56,000 resistance level
Bitcoin (BTC) trades just above $57,000 on Tuesday after gaining almost 4% on Monday, buoyed by mild ETF inflows, increasing whale buying activity during price dips, a long-to-short ratio above one, and increasing stablecoin holdings on exchanges.
Solana on-chain metrics suggest rising activity and declining fees, supporting bullish outlook
Solana (SOL) price could be set for a rally as the altcoin’s on-chain activity has increased significantly in the last thirty days. The Ethereum-competitor chain has observed a steep decline in transaction fees and a rise in daily active addresses, likely driving higher demand for SOL and Solana-based assets among crypto market participants.
Cautious rebound in cryptos
The turnaround in sentiment on the US markets saw the crypto market capitalisation rise by 3.2% in 24 hours to reach $2 trillion. However, it is too early to talk about a reversal in growth, as this level could prove resistant to intensified selling. The Cryptocurrency Sentiment Index rose to 33, the highest since late August, but is still in the 'fear' zone.
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