Cryptocurrencies price prediction: Bitcoin, Litecoin & EOS - European Wrap - 2 October

FXStreet Team FXStreet

Bitcoin price prediction: BTC/USD recovery halted, downside still in danger – Confluence detector

Bitcoin is among the daily losers on Wednesday following the rejection from levels just above $8,500. The correction from the lows formed marginally above $7,700 initially stepped above $8,000 before extending the bullish leg to a weekly high of $8,530. At the time of writing Bitcoin is trading at $8,221 amidst a growing bearish momentum.

Litecoin price analysis: LTC/USD bulls reclaim $56 support amid growing demand across the market

The cryptocurrency market is currently reviving the trend following minor corrections from what analysts regard as a fake. Litecoin is flexing its bullish muscles after failing to impress the investors over the last couple of days.

On Wednesday, Litecoin is up 1.61% after opening the session at $55.78. A bullish action touched highs around $56.74. At the time press, LTC/USD is trading at $56.66 while the bulls look forward to blasting through $60. Still pressing down on the price is the descending trendline resistance.

EOS price analysis: EOS/USD range-bound with bearish bias below $3.00

EOS lost over 4% of its value in recent 24 hours. The coin has been depressed during early Asian hours amid global sell-off on the cryptocurrency market. At the time of writing, EOS/USD is changing hands at $2.96, off Monday's low of $2.86

EOS takes seventh place in the global cryptocurrency market with the current market value of $2.70 billion.

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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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