Cryptocurrencies Price Prediction: Bitcoin, Altcoins & Crypto – European Wrap 9 January

Bitcoin Price Forecast: BTC falls below $94,000 as over $568 million outflows from ETFs

Bitcoin (BTC) continues to edge down, trading below the $94,000 level on Thursday after falling more than 5% this week. Bitcoin US spot Exchange Traded Funds (ETFs) recorded an outflow of over $568 million on Wednesday, showing signs of decreasing demand. Moreover, CryptoQuant data shows that reducing stablecoin inflows weakens buying pressure and hints at further decline in Bitcoin price.

Altcoins Tron and Toncoin Price Prediction: TRX and TON show signs of weakness

Tron (TRX) and Toncoin (TON) prices extend their decline on Thursday after falling more than 6% this week. TRX and TON prices faced rejection from key levels, suggesting double-digit cash ahead. Furthermore, the technical outlook also supports a bearish trend as both altcoins show signs of weakness in momentum indicators.

Portugal bank blocks crypto transfers amid tightening EU rules

Banco de Investimentos Globais (BiG), one of Portugal's major banks, has decided to block fiat transfers to cryptocurrency platforms, citing compliance with European regulations. This move has sparked debates about Portugal's evolving stance on cryptocurrencies, once seen as a haven for crypto enthusiasts. The bank’s decision reflects increasing regulatory scrutiny, aligning with directives from the European Central Bank, the European Banking Authority, and the Bank of Portugal. It also emphasizes adherence to national rules on anti-money laundering and counter-terrorism financing.