Cryptocurrencies Price Prediction: Dogecoin, Ethereum & Bitcoin – American Wrap 10 November

FXStreet Team FXStreet

Bitcoin smashes through $69,000 as US inflation hits its highest point in 30 years

Bitcoin enters price discovery as US inflation hits 6.3%. The benchmark cryptocurrency has hit a new all-time high as institutional capital continues to flow in Bitcoin. US inflation hit 6.3% as Bitcoin crosses previous all-time high and begins price discovery. Analysts argue that Bitcoin is likely to hit the end of year targets in the currency cycle as the Consumer Price Index rises. Bitcoin is considered a hedge against inflation; therefore, a rise in inflation influences capital rotation in Bitcoin.

Dogecoin to skyrocket to $1 as SpaceX confirms DOGE-1 moon mission

Dogecoin price continues to experience whipsaws in price action with no defined breakout yet established. That may change given some upcoming fundamental events combined with strong technical breakout levels. Dogecoin price action continues to frustrate buyers. DOGE is, quite literally, going to the moon.

Ethereum price rally isn’t over yet as ETH bulls keep tight support

Ethereum (ETH) has been on a steep rally since the beginning of October, holding 80% of profits already – and it does not look that price action in ETH will stop anytime soon. Fresh buyers are adding to the rally with additional media attention and current tailwinds in cryptocurrencies. ETH price action reveals that although a few indicators point to overbought, bulls are keeping to a tight short window for profit-taking before Ethereum price rockets off to new all-time highs.

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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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