Cryptocurrencies Price Prediction: Bitcoin, Axie Invinity & Ethereum — Asian Wrap 31 Dec

FXStreet Team FXStreet

Bitcoin Price Prediction: Buy opportunity before BTC hits $63,000

Bitcoin price has found some significant support against a make-or-break price level. A large number of new short positions was opened near the close of yesterday’s candlestick – and those new short sellers are likely feeling the pressure as Bitcoin ticks higher.

Axie Infinity could spike over 60%, but downside risks for AXS remain

Axie Infinity price has faced significant selling pressure since the beginning of November, dropping as much as 46% from the all-time high. AXS is currently down 42% from the all-time high. There are some signs that a strong rally may occur – but other signs point to further movement south.

Ethereum presents a massive buy opportunity before ETH hits $6,000

Ethereum price has just created sufficient conditions for one of the most potent bullish reversal signals in Point and Figure analysis. The potential trade could trigger a $2,000 rise from the entry with a more than 50% gain. Ethereum price has one of the best bullish reversal setups it has seen in a while on the $100/3-box reversal Point and Figure Chart.

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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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