Cryptocurrencies Price Prediction: Shiba Inu, CFTC & Bitcoin – European Wrap 27 November
|Shiba Inu Price Forecast: Faces a pullback amid profit-taking after testing resistance level
Shiba Inu (SHIB) price hovers around $0.000024 on Wednesday after rejection from the weekly resistance level earlier this week. On-chain data supports a bearish outlook as SHIB holders realize profits from recent gains and raise the selling pressure, suggesting a further down leg for the memecoin price.
Trump plans to make CFTC lead crypto regulator
President-elect Donald Trump’s administration is reportedly considering granting the Commodity Futures Trading Commission (CFTC) greater authority over the cryptocurrency market, specifically Bitcoin and Ethereum. This plan would reduce the Securities and Exchange Commission’s (SEC) role in regulating digital assets and shift primary oversight to the CFTC, which is traditionally focused on commodities and derivatives.
BTC correction shifts attention to altcoins
The crypto market dipped to a total cap of $3.15 trillion on Tuesday. However, on Wednesday morning, buying prevailed, pushing the capitalisation back above $3.22 trillion, around the same level as the previous day. The return of buyers is boosting hopes of an end to the correction, fuelled by the overwhelmingly positive momentum in equity markets.
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