Ethereum is trading near $1300
Bitcoin changed little over the day, remaining near $19.1K as the external outlook turned bleak, but there was no positive change either. Ethereum is trading near $1300, but the top altcoins are mostly down, losing between 0.2% (Tron) and 5% (Cardano). By Thursday, the cryptocurrency fear and greed index was unchanged at 20 points ("extreme fear"). The total capitalisation of the crypto market fell by 0.7% to $915bn overnight.
There is a lot of press attention on the US inflation data coming out today, which could determine the Fed's next move. This wait-and-see attitude leaves BTCUSD near the lower end of the trading range, from where we could see an explosion of volatility in either direction.
A sharp rise from current levels would dramatically increase the chances that the cryptocurrency bottom has already been passed in June. A step down from current levels could kick-start a decline into the $12-14K area.
News background
Arcane Research has warned that the ratio of Open Interest (OI) in bitcoin and Ethereum futures and perpetual contracts to their capitalisation indicated a likely sharp increase in volatility in the crypto market. Major investment bank JPMorgan and payment processor Visa has announced the integration of blockchain solutions Liink and B2B Connect for fast international payments. Blockchain could make transactions fast and cheap and even compete with the SWIFT interbank payment system.
The island nation of Dominica in the Caribbean Sea has adopted Tron cryptocurrency as a legal tender in the country.
Lastly, the head of the Commodity Futures Trading Commission (CFTC), Rostin Benham, expressed his belief that bitcoin and Ethereum are commodities and warned the crypto industry that regulation is inevitable.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 82.8% | 24 | $63 750.07 | -1.20% | -0.01% | $1 255 280 817 746 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.4% | 43 | $3 131.24 | -0.81% | 2.38% | $382 166 561 258 |  |
|
| 3 |  USDT |
Tether predictions | 92.4% | 1 | $0.999673 | -0.02% | -0.09% | $110 389 597 653 |  |
|
| 4 |  BNB |
Binance Coin predictions | 84% | 20 | $597.89 | -2.57% | 7.77% | $88 241 972 087 |  |
|
| 5 |  SOL |
Solana predictions | 70% | 67 | $139.24 | -3.88% | -2.31% | $62 261 872 877 |  |
|
| 6 |  USDC |
USD Coin predictions | 95.6% | 2 | $0.999975 | 0% | -0.01% | $33 388 685 238 |  |
|
| 7 |  XRP |
XRP predictions | 66% | 65 | $0.525901 | 0.09% | 4.53% | $29 048 608 224 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 65.6% | 64 | $0.147939 | -2.26% | -5.20% | $21 310 480 492 |  |
|
| 9 |  TON |
Toncoin predictions | 70.8% | 61 | $5.32 | -1.37% | -12.27% | $18 487 310 502 |  |
|
| 10 |  ADA |
Cardano predictions | 63.6% | 76 | $0.462886 | -1.70% | -1.26% | $16 494 433 838 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 62.4% | 79 | $0.000025 | -1.94% | 10.28% | $14 859 616 662 |  |
|
| 12 |  AVAX |
Avalanche predictions | 64.8% | 72 | $34.42 | -3.29% | -0.79% | $13 016 047 881 |  |
|
| 13 |  WTRX |
Wrapped TRON predictions | 86.4% | 18 | $0.120241 | 2.69% | 9.56% | $10 528 698 256 |  |
|
| 14 |  TRX |
TRON predictions | 86.4% | 21 | $0.120098 | 2.45% | 9.23% | $10 516 157 562 |  |
|
| 15 |  STETH |
Lido stETH predictions | 95.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
