Cryptocurrencies Price Prediction: Uniswap, FTX & Bitcoin – American Wrap 28 December

BTC Price Analysis: Bitcoin traders hanging on in the belief last-minute pop is still possible

Bitcoin (BTC) price is no match for global market dynamics as traders are moving into bonds for safety in the last week of the year. The move comes after the US Housing Price Index points to a sharp decline in the value of houses across the US, and a 2-year bond auction by the US Treasury received an outsized number of bids – more than have been seen since 2017. The bond market moved so substantially that the forecasted rate cut for 2023, visible in the CME Fed Fund Futures, got priced out and turned into hikes throughout 2023.

US Department of Justice has launched an investigation into $372 million FTX exchange hack

US Department of Justice is investigating the mystery hack that hit the collapsed FTX exchange. After FTX was hit by a liquidity crisis, the exchange was the target of an exploit and $372 million in cryptocurrencies was siphoned off the exchange. An investigation by federal prosecutors can help determine whether the event was an inside job. 

UNI Price Analysis: Uniswap traders move out of the pennant, looking for a 10% drop

Uniswap (UNI) price action performs a clear break below the pennant formation that was marked up on the charts after what could have been a bear trap on Tuesday. Instead UNI traders are selling off as the Relative Strength Index (RSI) dips further. As other asset classes are confirming the risk-off tone, expect to see UNI slide below $4.80 by this weekend.