Cryptocurrencies Price Prediction: Bitcoin, Crypto & Ethereum – European Wrap 21 February

FXStreet Team FXStreet

Bitcoin Weekly Forecast: BTC demand and liquidity conditions remain weak

Bitcoin (BTC) price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot Exchange Traded Funds (ETFs) data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors. Moreover, a CryptoQuant’s report suggests that if demand growth and liquidity conditions do not improve, the price of Bitcoin could decline to $86,000.

Elon Musk’s post sparks Dogefather crypto surge, tokens skyrocket

Elon Musk’s latest post on X triggered a surge in Dogefather-themed tokens, causing prices to spike as investors reacted to his influence in the crypto market.

Elon Musk’s latest post on X has ignited a massive surge in Dogefather-themed tokens, with some experiencing rapid price spikes. Known for his influence in the crypto world, Musk’s social media activity often causes waves, and this time was no different.

Bitcoin and Ethereum face uncertainty as $2B options expire, volatility looms

Bitcoin and Ethereum face a critical test as $2B in options expire, raising concerns over volatility and key support levels in the crypto market.

A major event is unfolding in the crypto market as $2.04 billion worth of Bitcoin and Ethereum options expire, raising concerns about increased volatility. Bitcoin faces key resistance levels, while Ethereum struggles to maintain its footing, leaving traders uncertain about the short-term direction.

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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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