Cryptocurrencies Price Prediction: Ethereum, Shiba Inu & Bitcoin – American Wrap 12 October

FXStreet Team FXStreet

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: How will CPI affect the crypto markets?

Bitcoin price could see a minor run-up to retest the recent broken, bearish setup. This development is likely to influence Ethereum, Ripple and other altcoins to do the same. Regardless, investors need to stay focussed on the mid-term outlook, which is still pessimistic. Investors need to be cautious as September's US Consumer Price Index (CPI) numbers will be announced on October 13 at 12:30 GMT. While the expectation is 8.2%, which is lower than the previous month’s 8.3%, an upside surprise would send the markets into a tailspin as it would confirm expectations for steeper Fed rate hikes. Regardless of the direction, investors should prepare for a surge in volatility tomorrow.

Bitcoin price: The slingshot is pulled back, BTC ready to test $16,900?

Bitcoin price trend offer mixed signals as to the direction in which BTC is headed. On-chain analysts at Jarvis Labs believe Bitcoin’s next move relies on the performance of US equities. Bitcoin price could plummet and hit the downside target of $16,900 in the short-term.

Shiba Inu bleeds, Shytoshi Kusama promises bug removal in Shiba Eternity guide

Analysts have evaluated the Shiba Inu price trend and revealed a short-term bearish outlook. The Dogecoin-killer is struggling to recover from the decline below the $0.00001075 level. Analysts at FXStreet shared their outlook and strategy for a swing trade in Shiba Inu in the following video:

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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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