Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Polygon — Asian Wrap 31 January

FXStreet Team FXStreet

Bitcoin Price Forecast: Here’s what needs to happen for BTC to hit $50,000

Bitcoin (BTC) price shot up 3% on Monday but has since undone most of the gains and currently trades around $42,762. But a few things need to happen before BTC shows its bullish hand and resumes the uptrend.

Ethereum Price Prediction: $2,500 in sight as bullish metrics steer ETH back into the channel

Ethereum (ETH) price bullish outlook continues to abound despite the recent setback as bulls show fortitude. With technicals indicators and on-chain metrics supporting the intermediate trend, the upside potential for the second largest cryptocurrency by market capitalization continues to grow.

MATIC price eyes a 10% climb as Polygon tech’s Immutable zkEVM Mainnet early access goes live

Polygon (MATIC) price continues to push north despite growing overhead pressure. It shows no signs of stopping with multiple technical indicators in support as bulls buy the news of Polygon technology’s Immutable zkEVM mainnet going live for its early access.

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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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