Cryptocurrencies Price Prediction: Bitcoin, Cardano & Compound – American Wrap 10 November

FXStreet Team FXStreet

Bitcoin rally accelerates as billionaires flock to the industry

Bitcoin (BTC) has increased by over 11% on a weekly basis and gained more than 35% since this time in October. The price of the pioneer digital currency has recently been on the bullish quest, which is hardly surprising, considering the number of whales pouring their money into the market.

Cardano price could be on the verge of a breakout to $0.15, bullish metrics suggest

Cardano price has established a robust resistance barrier at $0.112, which is also the upper boundary of a 12-hour ascending triangle. A breakout above this point can easily drive ADA towards $0.13, but rejection would be a notable bearish sign.

Compound price looks poised for a rally as number of new users joining the network skyrockets 350%

According to recent statistics provided by Dune Analytics, the total number of Compound users has skyrocketed by 350% in the past month, reaching a total of 175,000 users. It seems that the most significant spike happened on October 16. Compound price could be on the verge of a breakout thanks to the recent interest shown by new users.

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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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