Cryptocurrencies Price Prediction: Upbit, Bitcoin & Cryptos – American Wrap 16 January

Upbit, South Korea’s largest cryptocurrency exchange, is facing potential regulatory sanctions for alleged Know Your Customer (KYC) violations. The Financial Intelligence Unit (FIU) of South Korea’s Financial Services Commission (FSC) has issued a suspension notice to the exchange, sparking concerns across Asian crypto communities.

Bitcoin's (BTC) price edges slightly lower and trades around $99,200 on Thursday after rallying 4% following the previous day’s US Consumer Price Index (CPI) release. Despite this recent rise in BTC prices, traders should keep watch on US Retail Sales data for December on Thursday, as it could provide more volatility to Bitcoin price. A K33 report suggests that selling BTC at the US President-elect Donald Trump’s inauguration is gradually becoming less compelling daily.

Crypto traders are optimistic again, anticipating Bitcoin (BTC) will surpass record highs amid volatile trading as pro-crypto President-elect Donald Trump's inauguration on Jan. 20 nears.