Cryptocurrencies Price Prediction: Bitcoin, Compound and Ethereum – European Wrap 1 July

FXStreet Team FXStreet

Bitcoin Weekly Forecast: This support level can define BTC’s fate

Bitcoin price has finished the first half of 2022 and things are not looking good. With record negative returns, BTC is likely to continue heading lower, especially if one particular support level is breached.

DeFi traders must consider these resistance levels before trading Compound’s COMP price

COMP price is consolidating in a tight range, trying to establish a directional bias after a quick recovery rally. Depending on which camp wins, COMP is likely to head in that direction. However, judging by the market structure, a pullback seems likely.

Key price levels to watch out as Ethereum enters Q3 in a negative posture

Ethereum (ETH) price has been clawing back losses at the start of the trading day, but attempts have been cut short quite quickly after Europe opened, and saw equities dragged to the downside. Now it looks like price action will have to take a step back, becoming less volatile as liquidity gets pulled for the summer. Expect the downtrend not to be over, but the train is starting to slow as the summer lul kicks in.

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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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