Cryptocurrencies price prediction: Avalanche, Bitcoin & Cryptos – American Wrap 24 December
|Avalanche Price Forecast: AVAX struggles near $12 as Grayscale files updated form for ETF
Avalanche (AVAX) trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an Exchange Traded Fund (ETF) with the US Securities and Exchange Commission (SEC). Derivatives data suggest a rise in retail interest amid negative funding rates, which point to a persistent bearish trend.
Bitcoin Price Forecast: BTC slips below $87,000 as ETF outflows intensify, whale participation declines
Bitcoin (BTC) price continues to trade in red below $87,000 on Wednesday, failing to reclaim a key psychological level earlier this week. Weakening institutional demand, as reflected in continued outflows from Bitcoin spot Exchange-Traded Funds (ETFs), alongside a decline in whale, shark, and dolphin participation, is weighing on market sentiment and keeping BTC’s short-term outlook cautious.
Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?
Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission (CFTC). Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.
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