Cryptocurrencies Price Prediction: Bitcoin, Meme coins & Crypto – European Wrap 27 June

FXStreet Team FXStreet

Bitcoin price struggles around $61,000 as German, US government transfers weigh

Bitcoin (BTC) encountered resistance near the $62,000 mark on Wednesday and declined 1.5% to trade around $60,777 in Thursday’s European session. The US and German governments' transfers of BTC to exchanges in the past week have contributed to market FUD (Fear, Uncertainty, Doubt) among traders. Additionally, on-chain data reveals a rise in miners' selling activity, suggesting bearish sentiment in the market.

Meme coins, AI and RWA crypto tokens could drive profitability in 2024

Meme coins, Artificial Intelligence (AI) and Real World Asset tokenization (RWA) are the dominant narratives as the first half of 2024 draws to a close. A report by analysts at Biteye shows that the three sectors have emerged as the most profitable ones in 2024.

Buyers failed to pick up on the crypto market

The crypto market has been under moderate but persistent pressure throughout Wednesday, losing 1.26% over the past 24 hours to $2.24 trillion. Prices of top coins are down, except for Toncoin, which adds 1.6% for the day and 19% for 30 days, and Tron (+0.4% for the day and +10% for 30 days).

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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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