🚀 Ethereum, Bitcoin & Cardano Price Forecast: European Market Wrap - September 5th Analysis

Crypto markets defy traditional finance gravity—again. Three giants lead the charge while Wall Street scratches its head.

Ethereum: The Merge's Afterglow

Smart contract supremacy isn't just holding—it's accelerating. Network upgrades translate to value surges, leaving legacy systems eating dust.

Bitcoin: Digital Gold's Next Rally

Store-of-value narrative strengthens as institutional money wakes up. No banks needed, no opening hours—just pure momentum.

Cardano: The Academic Approach Pays Off

Peer-reviewed development might sound boring until it outperforms hype-driven competitors. Methodical beats manic every time.

European traders pivot toward digital assets while regulators still debate definitions. Meanwhile, crypto does what it does best: ignores borders and banking hours. Traditional finance's response? Another committee meeting—how revolutionary.

Crypto Today: Bitcoin renews bid for $118,000, Ethereum and XRP show recovery signs 

Cryptocurrency prices are showing signs of recovery on Friday, led by Bitcoin (BTC), which has reclaimed support above $112,000. Altcoins, including ethereum (ETH) and Ripple (XRP), are edging higher, reflecting easing selling pressure. 

Bitcoin, having reached its record high of $124,474, has since encountered intense volatility, triggered by macroeconomic uncertainty and profit-taking, especially from long-term holders. The risk-off sentiment spread to the derivatives market, which saw significant cooling. Bitcoin’s Open Interest (OI) averages at $79.21 billion at the time of writing after peaking at $88 billion on July 15.

Gold hits a new all-time high: What does this mean for Bitcoin?

While Gold (XAU/USD) has climbed to a new all-time high of $3,578 in early September, Bitcoin (BTC) struggled, retesting July lows after a three-week decline, reigniting the debate about Gold’s role versus Bitcoin as a store of value. Correlation between both assets remains weak, which challenges the “digital gold” narrative but supports both as complementary hedges. To gain more insights into Gold and Bitcoin, FXStreet interviewed some experts in the crypto markets.

Cardano Price Forecast: ADA gears up for a potential breakout run

Cardano (ADA) trades above $0.80 at press time on Friday, with bulls trying to overcome the 3.26% loss from the previous day. Cardano’s recovery teases a potential falling wedge pattern breakout on the 4-hour chart amid steady Optimism among derivative traders. However, the on-chain data flash weakness as profits and network activity decline. 

The Network Realized Profit/Loss (NRPL) is used to gauge the net amount of profit or loss realized by token holders after on-chain transactions. Santiment data shows Cardano’s NRPL stands at 3.48 million ADA, down from 13.98 million ADA on Thursday. This indicates a significant decline in the amount of profits booked by ADA holders, suggesting a drop in bullish momentum.