Cryptocurrencies Price Prediction: Bitcoin, Stellar & Tezos – American Wrap 28 January

FXStreet Team FXStreet

Bitcoin price is bound for another downswing to $25,000, says trading veteran

Bitcoin price is currently around $31,200 after another critical recovery from $29,241. So far, BTC hasn't closed below $30,000 since breaking it out, making this level extremely strong. However, despite defending this point, Peter Brandt still thinks Bitcoin price could fall towards $25,000.

XLM Price Prediction: Stellar primed for a 30% breakout as sentiment turns extremely bullish

Stellar had a considerable price spike towards $0.411 on January 7 and has been consolidating ever since. The digital asset is currently trading inside a descending triangle pattern on the 12-hour chart awaiting a breakout.

Tezos Price Prediction: XTZ gears up for a move towards $5 if this level cracks

Tezos has been inside a significant uptrend since December 23, 2020, reaching a high of $3.39 on January 23, 2021. After a 22% correction in the past week, the digital asset seems ready for another leg up.

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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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