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Cryptocurrencies Price Prediction: ETFs, PI & Crypto – European Wrap 31 December

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Bitwise files for 11 new crypto ETFs tracking altcoins like Aave, Zcash, and Ethena

Bitwise filed for 11 crypto Exchange Traded Funds (ETFs) with the US Securities and Exchange Commission (SEC) on Tuesday, with the aim to offer exposure to Aave (AAVE), Zcash (ZEC), Ethena (ENA), and other altcoins. Despite the shift in institutional interest from Bitcoin (BTC) to altcoins, Bitcoin's dominance remains around 60%, suggesting the chances of an altcoin season are low.

Pi Network Price Forecast: PI recovers ahead of the New Year

Pi Network (PI) edges higher by almost 1% at press time on Wednesday, extending recovery after a Doji candle with 0.40% gains on the previous day. Data shows an increase in Pi Network’s social dominance, suggesting a boost in retail interest. The technical outlook for PI suggests a potential rebound from $0.20 amid a Morning Star pattern.

Top 3 Price Prediction: Bitcoin, Ethereum, XRP prepare for a potential New Year rebound

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are holding steady on Wednesday after recording minor gains on the previous day. Technically, Bitcoin could extend gains within a triangle pattern while Ethereum and Ripple face critical overhead resistance.

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EUR/USD clings to modest gains above 1.1550 post-US CPI

EUR/USD stays in positive territory above 1.1550 in the American session on Wednesday. The data from the US showed that the annual CPI inflation climbed to 4.2% in May. This print came in line with the market expectation and made it difficult for the USD to gather strength.

GBP/USD pulls away from session highs, stays above 1.3400

GBP/USD stays in positive territory slightly above 1.3400 despite pulling away from session highs. The cautious market stance helps the US Dollar limit its losses and cap the pair's upside as investors assess the US inflation data, which showed that the CPI rose 4.2% on a yearly basis in May.

Gold trades at fresh 10-week low below $4,200

Gold builds on Tuesday’s losses and remains under heavy pressure, gyrating around the $4,150 mark per troy ounce as investors evaluate the latest US CPI data on Wednesday. Meanwhile, developments from the Middle East crisis and the likelihood of a more cautious Fed in the next few months continue to weigh on the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP face downside pressure amid investor de-risking

Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments.

Brutal sell-off: Silver deepens months-long slide, refocusing on $60

Silver has never been known for its calm temperament. The precious metal can spend weeks grinding higher before suddenly giving back months of gains in a matter of days. That volatile reputation has been on full display in recent weeks.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.