Cryptocurrencies Price Prediction: Litecoin, Ethereum & Bitcoin — Asian Wrap 5 May

FXStreet Team FXStreet

Litecoin ETF has a higher chance of approval: Analyst

Litecoin (LTC) price hovers at $86 during the Asian session on Monday, up slightly on the day even as the wider crypto market consolidates, following April’s recovery. Meanwhile, Bloomberg analyst James Seyffart believes that the spot Litecoin Exchange Traded Fund (ETF) proposal by Canary Capital has a higher probability of approval than other assets.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP bulls turn cautious after rejection at key resistances

Ethereum price faced resistance around the daily level of $1,861 on Friday and declined 1.87% over the next two days. At the time of writing on Monday, it continues to trade down at around $1,795. If ETH continues its pullback, it could extend the decline to retest its psychological importance at $1,700. A successful close below this level could extend the decline to test its next support level at $1,449.

Bitcoin rallies above $97K following a surge in stablecoin inflows

Bitcoin (BTC) rose above $97,000 on Friday as the top cryptocurrency looked set to recover the $100,000 level heading into the weekend. The rise was fueled by increased inflows into the stablecoin market last week, particularly from USDT and USDC, which added $2.5 billion and $1.2 billion to their market caps, respectively.

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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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