Cryptocurrencies Price Prediction: Bitcoin, BOME & Shiba Inu – European Wrap 30 July

FXStreet Team FXStreet

Bitcoin price struggles at $67,000 as on-chain data suggests slight increase in selling pressure

Bitcoin (BTC) stabilizes around the $68,000 level on Tuesday after failing to close above $70,000 the day before. The US government moved $2 billion worth of Bitcoin from Silk Road's confiscated funds on Monday. Additionally, data from Lookonchain reveals that FalconX sold 1,000 BTC, totaling $69.52 million, on the Binance exchange. On-chain data indicates that the Coinbase Premium Index has dropped below the 14-day Simple Moving Average, signaling a slight uptick in selling pressure.

Book of Meme poised for 20% rally

Book of Meme (BOME) price is currently retesting its daily resistance at $0.0108 on Tuesday, and a close above this level could signal a bullish move. On-chain data indicates a rising Open Interest for BOME, reflecting positive investor sentiment and suggesting a potential rally in the coming days.

Shiba Inu could extend gains with Shiba Eternity web3 version launch

Shiba Inu (SHIB), a dog-themed meme coin and the second-largest crypto asset in the category, has two key market movers this week. The web3 version launch of the card game Shiba Eternity and the on-chain data.

Shiba Inu marketing executive behind the X handle @LucieSHIB announced the official launch of web3 version of the card game Shiba Eternity in closed beta.

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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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