Cryptocurrencies Price Prediction: Bitcoin, Ripple & Ethereum – Asian Wrap 06 February

FXStreet Team FXStreet

Bitcoin could reach $500,000 says Standard Chartered; key factors that could fuel a potential rally

Bitcoin (BTC) remained below $100,000 on Thursday as the broader crypto market continues to face downside risk from a potential global trade war. However, Geoffrey Kendrick, Standard Chartered's head of digital asset research, predicted that Bitcoin could climb to $500,000 before 2028, toward the end of President Donald Trump's administration.

Meanwhile, BlackRock is preparing to introduce a Bitcoin exchange-traded product (ETP) for its European investors, signaling sustained institutional interest in the top pcry

Ripple's XRP in view: SEC reevaluates crypto securities classification amid enforcement scale-down

XRP is down 3% in the early hours of Thursday as crypto community members anticipate that the Securities and Exchange Commission's (SEC) appeal of the ruling in its case with Ripple will likely not stand following latest developments under the new administration.

Can an altcoin season occur without a rally in Ethereum? Crypto community debates

Ethereum's (ETH) struggles in recent months have raised questions about whether the second-largest cryptocurrency is stifling altcoin gains. ETH has historically been a major driver of altseasons, and crypto community members suggest that its current underperformance could prevent a broader altcoin rally. Ethereum's lagging performance in the current bull cycle could be costing the broader altcoin market as the much-anticipated altseason continues to stall.

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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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