Cryptocurrencies Price Prediction: Bitcoin, Cryptos & Hedera – American Wrap 17 January

FXStreet Team FXStreet

Bitcoin rallies to $104,000 as crypto traders gear for Donald Trump’s inauguration, here’s what to expect

Bitcoin (BTC) rallied to a high of $104,254 on Friday as traders anticipate a Trump-led rally with the inauguration event on Monday. The crypto community of traders, investors and businesses has pinned their hopes on the first-ever crypto president’s plan to designate crypto as a national priority.

The crypto market keeps its pace

The cryptocurrency market increased by 2.7% in the past 24 hours, reaching $3.6 trillion. It is returning to levels seen on January 7th and has been maintaining steady growth since the beginning of the week. Successful consolidation at these levels could pave the way to historical highs observed in December, effectively ending the period of corrective pullback and consolidation.

Hedera Price Forecast: HBAR bulls aim for all-time highs

Hedera’s (HBAR) price extends its gains, trading at $0.384 on Friday after rallying more than 38% this week. HBAR Foundation announces that Vaultik and the World Gemological Institute have partnered to tokenize $3 billion worth of diamonds, gemstones, watches, and jewelry as Real World Assets (RWAs) on the Hedera network. On-chain data also paints a bullish picture as HBAR’s Open Interest and Total Value Locked reach record levels, suggesting a rally continuation targeting all-time highs.

HBAR Open Interest chart. Source: Coinglass

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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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