Cryptocurrencies Price Prediction: Bitcoin, Mantle & CFTC – European Wrap 24 September

FXStreet Team FXStreet

Bitcoin Price Forecast: BTC stabilizes around $112,600 as Fed caution, geopolitical risks weigh on sentiment

Bitcoin (BTC) price stabilizes around $112,600 at the time of writing on Wednesday, after correcting by nearly 3% so far this week. However, the broader outlook remains fragile as the Federal Reserve’s (Fed) cautious stance on rate cuts and escalating geopolitical conflicts dampen risk appetite. Adding to the pressure, US-listed spot Bitcoin Exchange Traded Funds (ETFs) recorded their second consecutive day of outflows, highlighting weakness in institutional demand.

Mantle Price Forecast: MNT holds steady uptrend amid Bybit integrations

Mantle (MNT) price advances higher for the third straight day, trading above $1.80 at press time on Wednesday. The announcement of the VIP holder program and trading fees discount over Bybit on Tuesday boosted the interest in MNT derivatives. Furthermore, the technical outlook suggests an extended rally, potentially reaching a new record high.

US derivatives regulator to launch tokenized collateral pilot

The US Commodity Futures Trading Commission (CFTC) has announced a "Tokenized Collateral Program" that, once launched, will let regulated derivatives traders test the use of stablecoins as collateral. The initiative is structured as a pilot. It will apply to clearinghouses and futures commission merchants operating under CFTC oversight.

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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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