Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Shiba Inu – European Wrap 6 January

FXStreet Team FXStreet

Bitcoin Weekly Forecast: A crypto beginner’s guide to Nonfarm Payrolls and its effects on BTC

Bitcoin (BTC) price and the general crypto markets have been highly correlated with the stock markets since the COVID-19 crash in March 2020. Since then, macroeconomic news have been affecting Bitcoin, Ethereum and other altcoins, and the Nonfarm Payrolls (NFP) monthly release is one such significant event, with the December version to be published on January 6 at 13:30 GMT.

Ethereum Price Prediction: Trading Nonfarm Payrolls, will ETH bulls triumph?

Ethereum (ETH) price is traversing a bearish pattern and is close to invalidating it. However, due to the current market conditions combined with the release of Nonfarm Payrolls (NFP) on Friday at 13.30 GMT, there is a possibility that ETH could correct and retest a stable support level before establishing its direction.

Shiba Inu developers share Shibarium update, the layer-2 solution will scale a $4.9 billion market

Shiba Inu ecosystem’s developers have warned the community against other projects that lay claim to the layer-2 scaling solution Shibarium. Developers assured the SHIB army that the scaling protocol will use Bone (BONE) from the Shiba Inu ecosystem and will scale the dog-themed cryptocurrency, no other projects included.

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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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