Cryptocurrencies Price Prediction: Token, Stellar & Bitcoin – European Wrap 30 January

FXStreet Team FXStreet

Token unlock worth $330 million could impact these four cryptos

Crypto protocols Optimism (OP), Sui (SUI), ZetaChain (ZETA) and DYDX (DYDX) are set to unlock $330 million in scheduled events this week. These four cryptos unlock between 1% and 7% of their circulating supply. Traders should be cautious as token unlocks frequently generate negative sentiment among investors as they represent an increase in circulating supply, weighing down prices.

Stellar Price Prediction: XLM bulls aim for 110% rally

Stellar’s (XLM) price hovers around $0.40 on Thursday after falling by 3.4% in the last two days. The technical outlook shows the formation of a symmetrical triangle if it breaks above the target at the $0.84 level, which is 110% of its current trading levels.

Bitcoin Price Forecast: BTC holds above $105,000 amid US macroeconomic data release

Bitcoin (BTC) holds above $105,000 at the time of writing on Thursday despite the Federal Reserve’s (Fed) decision to halt interest rate cuts in the United States (US) the previous day. Traders should watch the upcoming United States (US) Gross Domestic Product (GDP) for the fourth quarter of 2024 data release on Thursday, which could bring volatility to Bitcoin. Glassnode reports that BTC’s bull cycle mirrors 2015–2018, with room for further euphoria-driven growth.

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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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