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

FXStreet Team FXStreet

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.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche 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 ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

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. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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