Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Zcash – European Wrap 22 October

FXStreet Team FXStreet

Crypto Today: Bitcoin, Ethereum, XRP stabilize amid ETF inflows resurgence

Bitcoin (BTC) steadies above $108,000 at the time of writing on Wednesday, after facing rejection from resistance at $114,000 the previous day. However, a resurgence of BTC spot Exchange Traded Funds (ETFs) inflows supports a short-term bullish outlook.

Meanwhile, Ethereum (ETH) and Ripple (XRP) show signs of weakness amid negative market sentiment due to macroeconomic uncertainty, profit booking and the lack of key price catalysts to sustain their recovery.

Bitcoin Forecast: Start of a major correction or the next bull run? [Video]

Bitcoin traders are on high alert after last week’s volatility shook the market. Will institutions buy the dip, or will the market correct further?
We walk through the technical outlook with an Elliot Wave formation, its corrective wave scenarios (possible swings toward lower support zones), and the key weekly decision levels to watch for Bitcoin.

Zcash Price Forecast: ZEC eyes $300 breakout rally as network activity, retail demand grow

Zcash (ZEC) recovery run towards the $300 mark gains traction on Wednesday, surviving the crypto market’s flash crash and subsequent days of high volatility. The renewed uptrend in the privacy coin points to further gains as retail demand and on-chain activity surge.

Zcash provides privacy to users by collecting deposits into transparent pools, such as Sprout, and transferring them to anonymous pools, like Sapling or Orchard pool, using zero-knowledge proof-based high-level encryption technology. This transfer is called shielding.

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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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