Cryptocurrencies Price Prediction: Bitcoin, Fed & Cryptos – American Wrap 31 October

FXStreet Team FXStreet

Bitcoin price is looking at more than just $40,000 if it remains loyal to this historical pattern

Bitcoin price not only has gained significantly over the last couple of weeks but it has also imbued a sense of confidence in the investors owing to a few reasons. These factors include the hype of spot Bitcoin ETF approvals by the Securities & Exchange Commission (SEC), the potential Quantitative Easing, as well as the upcoming halving event. However, what many investors are missing is how their optimism could get crushed.

US Fed interest rate preview: Two scenarios for Bitcoin and Ethereum prices

Bitcoin price rallied throughout October 2023, marking another profitable month for BTC holders. The upcoming US Federal Reserve interest rate decision has the potential to make or break Bitcoin’s price rally.

CME Fed Watch tool and expectation of interest rate hike

Crypto asset manager Valkyrie amends spot Bitcoin ETF filing

Digital asset manager Valkyrie Investments is the latest firm to amend its spot Bitcoin (BTC $34,525) exchange-traded fund (ETF) filing with United States securities regulators.

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FXStreet Team

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Ripple extends gains as cooling signs in US inflation mount

Ripple (XRP) holds above support reclaimed at $1.10 at the time of writing on Wednesday, extending its rally after the US Producer Price Index (PPI) data for June showed that price pressures in the world’s largest economy are cooling.

Crypto Today: Bitcoin, Ethereum, XRP stall after US CPI-driven mild rally

The cryptocurrency market pauses on Wednesday, following a brief, macro-driven rally the previous day. Bitcoin (BTC) is consolidating above $64,500, signaling waning bullish momentum and increased profit-taking as sellers emerge.

Chainlink holds gains as bullish momentum builds

Chainlink (LINK) price edges higher on Wednesday, holding its 5% gains from the previous day. Retail speculative demand for LINK is rising, with its futures Open Interest up 6% over the past 24 hours.

Bitcoin approaches technical pivot as soft US CPI aids recovery

Bitcoin (BTC) is near the key technical resistance zone around $65,160 on Wednesday as softer-than-expected US inflation data improves risk sentiment across the crypto market.

Bitcoin: Strategy sells, the market doesn’t care

Bitcoin (BTC) reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning. Meanwhile, traders have digested headlines about Strategy’s recent Bitcoin sale, highlighting the Crypto King’s resilience and deep liquidity.