Cryptocurrencies Price Prediction: Bitcoin, Litecoin & Stellar Lumens – European Wrap 14 July

FXStreet Team FXStreet

Bitcoin Market Update: BTC/USD may retest $9,000 amid worsened sentiments on the global markets

Bitcoin is changing hands at $9,190, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. The first digital coin has been locked in a tight range for weeks with rare attempts to break free in either direction. At the time of writing, Bitcoin's market value is registered at $169.3%, while its market share recovered to 62.6% from the recent low of 62.2%.

Litecoin Price Analysis: LTC/USD bulls have low chances as long as the price is below daily SMA50

Litecoin experienced a sharp sell-off towards $42.63 on Monday and managed to recover to $43.44 by the time of writing. The 9th largest digital asset with the current market value of $2.88 billion has lost over 13% on a day-to-day basis and 1% since the beginning of the day. The coin is moving in sync with the market within a short-term bearish trend amid high volatility.

Stellar Market Update: XLM/USD nosedives from new 2020 highs

Stellar is free-falling after hitting a snag at $0.10. This crypto token has been on an upward roll since the beginning of July. Note that the gains in June hit another wall at $0.0850 before plummeting under the 23.6% Fibonacci retracement level taken between the last swing high of $0.1014 to a swing low at $0.02756.

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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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