Cryptocurrencies Price Prediction: Bitcoin, Shiba Inu and Monero – European Wrap 12 January

FXStreet Team FXStreet

Grayscale Bitcoin Trust discount shrinks first time in a year as DCG and Gemini saga unravels

Grayscale Bitcoin Trust (GBTC) shares could succumb to selling pressure from venture capital firm Digital Currency Group (DCG) unloading its GBTC shares. Crypto lender Genesis, owned by the DCG group owes $900 million to Gemini’s “Earn” product users and the two firms are embroiled in a long spat that weighs heavily on the market mood and leading crypto Bitcoin.

SHIB Price Forecast: Chinese PPI spurs hope for lower US CPI as Shiba Inu price to break above $0.00001000

Shiba Inu (SHIB) price action tanked 1.5% in late trading on Wednesday after markets got shaken by several comments from both ECB and Fed members. It has become clear that division is creeping into the US Federal Reserve's decision-making, which could spell trouble and bite its credibility. Markets recovered quite quickly, and SHIB jumped 5% after Chinese Producer Price numbers showed a firm cooldown in the economy with a negative print, propping up expectations of a lower US inflation number on Thursday.

This privacy coin plays a crucial role among futures traders, here's why

Monero (XMR) price has shown a steady ascent since November 9, 2022, without any major pullbacks or corrections. While this slow, under-the-radar rally was impressive, investors need to think two steps ahead to prepare for what comes next.

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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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