Bitcoin price expected to reach $113,000 as IBIT ETF climbs to $87 billion and traders keep watch on…
Bitcoin’s price forecast shows consolidation above $113,821 after a bounce from $107K. Factors like whale accumulation, stablecoin inflows, and record hashrate coincide with a rise in ETF demand. These events are crucial as Bitcoin gears up for a significant test in the $118K–$120K resistance bracket.
In the realm of cryptocurrencies, XRP-USD is at a critical juncture, with a resistance level of $3.00 looming large. Whales have accumulated 120 million tokens, leaving only 21 million XRP available on exchanges. The upcoming SEC ruling on the 21Shares ETF on October 18 could potentially push the price towards $3.62 in the short term and between $5 and $9 in the final quarter of 2025.
Shifting gears to Ethereum, the ETH-USD pair has stabilized around $4,120. Inflows to ETFs and the SWIFT alliance are providing the necessary momentum for a potential climb to $5,766.
Another crypto gaining ground in the ETF rally is XRP. Nasdaq-listed XRP ETFs are performing well, with XRPR at $24.33 and XRPI at $17.55, fueled by SEC reforms driving inflows.
Etsy’s stock prices paint a different picture, dropping to $66.39 from a high of $75.77 as buyer numbers dwindle, seller attrition rises by 18%, and short interest hovers around 28.3%. Although their Q2 results showed a decline in gross merchandise sales of 4.8% to $2.8B, revenue edged up by 3.8% to $672.7M, with a 25% EBITDA margin. Investors are debating whether AI-driven growth can counter the marketplace’s inherent weaknesses.
On the stock market, the GBP/USD pair has stabilized at 1.3461 as the UK’s Q2 GDP outperformed forecasts, marking a 1.4% year-on-year growth. Conversely, the US dollar faces pressure amidst shutdown fears and a confidence drop to 94.2. The pair currently trades within the 1.3300–1.3500 range, with resistance at 1.3500 and support at 1.3330, with the impending U.S. jobs report adding to the market uncertainty.
Overall, the cryptocurrency market is gearing up for significant movements driven by ETF reforms, while traditional markets experience fluctuations based on economic indicators like GDP and job reports. The upcoming weeks promise crucial developments that could shape the direction of these markets for the near future.
