Cryptocurrencies Price Prediction: Shiba Inu, BNB & Crypto – European Wrap 3 October
|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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.