Cryptocurrencies Price Prediction: SPX6900, Ethereum & Ripple — Asian Wrap 09 June

FXStreet Team FXStreet

Altcoins in the lead: SPX, ICP, AB - Binance Alpha coins surge, ICP plans a trend reversal

The cryptocurrency market begins the week on a positive note with altcoins such as SPX6900 (SPX), Internet Computer (ICP), and AB (AB) leading the gains on Monday, at press time. Recovering from the flash crash on Thursday, Bitcoin reclaims and holds above the $105,000 level on Saturday, adding tailwinds to altcoins. The meme coin SPX soared 7.95% on Sunday following the 8% hike on Saturday to complete a bullish weekend. At the time of writing, SPX trades at $1.25 with minimal intraday movement after a 22% rally last week.

Ethereum Price Forecast: ETH tests key resistance amid rising exchange inflows

Ethereum (ETH) is trading just below $2,500 on Friday as investors exerted net selling pressure of 117,000 ETH across crypto exchanges following the Trump-Musk clash. Following a clash between US President Donald Trump and Tesla CEO Elon Musk over the "big beautiful bill," which led to Ethereum shedding over 7% of its value on Thursday, crypto exchanges saw net inflows of 117,000 ETH, the second-highest since April 24. The rising exchange inflows signify increased selling pressure on the top altcoin.

Ripple Price Prediction: XRP offers multiple buy signals targeting $2.50

Ripple (XRP) edges higher after a broader flash sell-off on Thursday, which saw the crypto market capitalization drop 4% to $3.4 trillion. XRP has recovered to trade at around $2.17 at the time of writing on Friday after dropping 9% on Thursday. This uptrend has the potential to continue into the weekend with bulls eyeing $2.50, underpinned by improving sentiment.

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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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