Ethereum’s price has fallen nearly 7% since its high on October 7 and is currently hovering around $2,388. This downward trend is in line with Bitcoin’s 2% drop in the past 24 hours. Although Ethereum (ETH) ended its lackluster performance last week with a 9% rebound, the short-term outlook remains questionable. However, as the cryptocurrency market moves through the first few months of the fourth quarter and against the backdrop of Vitalik Buterin’s nomination for the Nobel Prize, the medium- to long-term forecast remains unchanged. Will ETH price reach $10,000?
From a technical analysis perspective, Ethereum reaching $10,000 is a solid medium-to-high probability scenario. This assessment is based on two strong resistance levels at $2,800 and $4,000, which have long suppressed prices. Meanwhile, economist Tyler Cowen nominated Ethereum co-founder Vitalik Buterin for the Nobel Prize in Economics. Could this development help Ethereum reach $10,000?

The cryptocurrency market has witnessed notable drops in the prices of popular meme coins Shiba Inu (SHIB) and Dogecoin (DOGE). In the past 24 hours, SHIB has fallen by 3.72% and is currently valued at $0.000016, while DOGE has fallen by 2.5% and is currently priced at $0.106.
In addition, the trading volumes of both coins also changed significantly, with SHIB’s trading volume falling by 3.82% to $286.78 million, while DOGE’s trading volume surged by 16.41% to $637.79 million. The following section explores three main reasons for the price decline of these meme tokens.
Shiba Inu whale activity increases

Well-known cryptocurrency analyst Sherpa is bullish on Bitcoin (BTC), suggesting that a major price move is imminent. Sherpa, who has over 224,000 followers on X, highlighted that the price compression on Bitcoin’s daily chart is “extremely tight,” noting that the 25-period, 55-period, 100-period, and 200-period exponential moving averages (EMAs) are converging. According to Sherpa, this technical setup suggests that Bitcoin is about to see a major move, most likely to the upside. At the time of writing, Bitcoin is trading at $62,150.

Credit Suisse (SUI) gains strongly but faces future supply risks

Cryptocurrency markets could see a massive infusion of capital in the coming months as FTX creditors are set to receive more than $12 billion in compensation. The influx of funds expected from a court-approved repayment plan raises the question of whether the massive amount of money can revive the currently depressed market.
FTX creditor payment could spark crypto market recovery
In June, the bankrupt exchange reported that it had $12.6 billion to return to customers, a figure it expected to rise to $16.5 billion as more assets were liquidated. The initial distribution totals about $1.1 billion, a relatively small amount, but is expected to provide a much-needed boost to the cryptocurrency market, especially Bitcoin.

Canary Capital’s second XRP ETF filing sparked optimism in the market, with many experts revealing that the investment vehicle could be approved. Meanwhile, Bitwise has just filed its first ETF application of its kind in the U.S. In addition, the latest filing also comes as the U.S. Securities and Exchange Commission (SEC) is appealing the Ripple SEC case, further fueling market discussions.
Is an XRP ETF Launch in the U.S. Inevitable?
Canary Capital’s recent XRP ETF filing sparked market optimism. This is the second consecutive filing after Bitwise filed a similar application earlier this month. The companies’ continued efforts also reflect Wall Street investors’ growing confidence in Ripple’s native cryptocurrency.

Nick Szabo is a cryptographer and computer scientist who has long been the subject of speculation in the cryptocurrency community.
Many have wondered if he is Satoshi Nakamoto, the mysterious creator of Bitcoin. Szabo's contributions to digital currencies, particularly his work on "smart contracts," have sparked ongoing debate.
Szabo created "Bit Gold" in the late 1990s, which is often seen as a precursor to Bitcoin. His early work on digital currencies is closely related to the invention of Bitcoin. "Nick Szabo was exploring digital currencies long before Bitcoin came along," said cryptography expert Dominic Frisby.

SHIB 是今日（10 月 9 日）表现最好的加密货币之一。
总结
柴犬的价格在 24 小时内上涨了 4%，可能是由于外汇储备减少和代币销毁增加等关键因素推动的。相反，Shibarium的交易活跃度却下降了。

SHIB 再次闪烁绿色
根据 CoinGecko 的观察，今天（10 月 9 日），许多领先的加密货币均出现下跌。大多数都出现了小幅上涨，而 Shiba Inu (SHIB) 是表现最好的加密货币之一。
其价格在 24 小时内上涨了 4%，目前交易价格约为 0.00001786 美元。同时，由于 9 月底的短暂牛市，其估值在过去 30 天内上涨了近 40%。

复苏与 SHIB 交易所储备的暴跌相吻合。据CryptoQuant 称，这一数字在去年一直在下降，这表明从中心化平台向自我托管方法发生了重大转变。这可以被解读为一个看涨信号，因为它减轻了直接的抛售压力。  

SHIB 涨势可能在短期内持续的另一个因素是该 meme 币的销毁机制。过去 24 小时内，销毁率上升了400% 以上，导致近 300 万枚代币被发送到空地址。
这些藏品等值的美元可能微不足道，但在该领域的持续努力将使柴犬变得更加稀缺，并且可能更有价值（假设需求保持其水平或增加）。
大额交易（衡量交易数量超过 100,000 美元的动量指标）也在上涨。该指标每日上涨5.5%（根据 IntoTheBlock 的数据），发出看涨信号。
Shibarium 努力追赶潮流
Shiba Inu 的第二层区块链解决方案 Shibarium 的进一步进展也被吹捧为可能推高 meme 币价格的一个因素。 
尽管该协议在过去几个月中实现了众多目标，但最近表现不佳。自 10 月初以来，每日交易量一直徘徊在 10,000 以下，而 2024 年初则达到数百万。
$SHIB

Cryptocurrency analyst Egrag Crypto predicts that XRP price will rise by 8,400% to $44. Interestingly, the analyst believes that the cryptocurrency could still reach a higher price target, calling the $44 price level “conservative.”
XRP price will reach $44
Egrag Crypto in his X post predicts that the XRP price will reach $44. He highlights that this price level is one of the conservative targets based on the current cycle and Fib channels. The $44 price level is a target based on the Fib 0.702 channel. The other price targets he mentioned are $13 and $27 based on the Fib 0.5 and 0.618 channels respectively.

Virtual currency is ultimately a Ponzi scheme, but the A-share market is heading straight for 5,000, supporting the nation's backbone. This sentence couldn't be more appropriate for today. The A-share market soared 5.7% in the morning, with an astonishing trading volume. It broke through one trillion in just 35 minutes, and the trading volume for the whole day is expected to break 3 trillion. Now all communities are talking about the A-share market, and even the groups that have been paying attention to the virtual currency meme for many years have begun to pay attention to the A-share market. Of course, this is also related to the correction of Bitcoin (big cake) today. Most retail investors in the currency market are profit-seeking. It has to be said that the recent domestic stimulus policies are very strong, and they have a certain "blood-sucking" effect on the currency market, but fortunately, this "blood-sucking" window period is only one day. Next, China will usher in a 7-day short holiday made up of adjustments and holidays, and then the market will return to the market dominated by US stocks. Although the market has a correction today, my view on the currency market in the next two weeks remains unchanged. I think the currency market will still be dominated by rising prices before the election.

The bearish impact has once again intensified as the cryptocurrency market temporarily dropped to $2.20 trillion. BTC price fell back below $65,000 and Ethereum continued to sell off, with ETH falling to $2,630.

Amid the sell-off, will the Bitcoin price surge in Q4 as history predicts, or is it about to fall below $60,000? Let’s find out in our Bitcoin price analysis.
Bitcoin price performance
After a bullish reversal in the past few weeks, the price of Bitcoin peaked at $66,508 but fell back over the weekend. After a 1.60% drop on Monday, the price of Bitcoin is currently trading at $64,590.

The election day is November 5th, and it is expected that the market will enter the election market two weeks in advance. Many large funds are expected to leave the market for risk aversion purposes, so we must cherish the market in the first two weeks of October. This is a good window period for making money, and Bitcoin is likely to hit 70,000 again!

The weekend market is consistent with my prediction on Friday. The 6w5 bitcoin is just the beginning of the market. Sure enough, on Friday night, the bitcoin went straight above 6w6. Although it failed to stabilize at 6w6 yesterday and today, the current market selling pressure is significantly smaller than last week, which also means that the pressure of 6w5 has been transformed into support. I expect the upward trend to continue for 1-2 weeks, because the general election will be around November 5th, and the market will definitely hype in advance. At this stage, many funds are unwilling to take risks. Even though Harris also expressed support for artificial intelligence and cryptocurrency last week, many people think that this is just a means of canvassing votes for the election. Trump and Harris are very concerned about the Canadian election. The crypto groups take two extremes. It is not an exaggeration to say that the former are bootlickers. After taking office, the policies he promised before will definitely be discounted. The latter adopts a training approach to encryption, first suppressing it, then avoiding the topic, and finally leaking some information to you and saying it is good for you. It's like a bad guy suddenly does a little good, and you see it instantly becomes much more handsome. But before Harris reveals specific policies supporting encryption, I think she is still bearish on the market. At least there will be a lot of funds that don't believe in him, so I think we should cherish the market in the first two weeks of October. I have a hunch that there will be a market that will hit 70,000, but it may not be able to stand up in the end.