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Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Crypto – European Wrap 12 January

Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Crypto – European Wrap 12 January
FXStreet TeamFXStreet TeamFXStreet

Top 3 Price Prediction: Bitcoin rallies above $92,000 as Ethereum, Ripple show resilience

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in green on Monday, fueling a broader cryptocurrency market recovery. Bitcoin and Ethereum extend gains for the second consecutive day, crossing above $92,000 and $3,100, respectively, while XRP stabilizes near $2.00. Technically, BTC and ETH flash bullish potential while XRP remains at a crossroads.

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Bitcoin Price Forecast: BTC struggles amid ETF outflows, bearish futures data

Bitcoin (BTC) is trading below $91,000 at press time on Monday, struggling to hold above the 50-day Exponential Moving Average (EMA) at $91,548. A steady outflow from US spot Bitcoin Exchange Traded Funds (ETFs) reflects weakened institutional demand, risking a decline in market sentiment. Meanwhile, the derivatives market witnesses a selling bias with a greater number of active short positions.

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Crypto: Sell-the-growth continues

The crypto market capitalisation grew by 1% over the past day and is down 1% from a week ago. Bitcoin received a boost from reports of a criminal investigation against the head of the Federal Reserve, which created momentum for a flight from US assets. In our view, this precedent is negative for risk appetite. 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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