Cryptocurrencies Price Prediction: Avalanche, Crypto.com & ApeCoin — Asian Wrap 05 July

FXStreet Team FXStreet

Avalanche’s AVAX price is finished unless this happens

Avalanche’s AVAX price could endure another cataclysmic decline. Being an early buyer could be problematic. Avalanche’s AVAX price is showing signs of optimism amidst the brutal decline investors have been experiencing. On July 4, 2022, the AVAX price successfully retraced into a key 61.8% Fibonacci level at $17.41.

Why the Crypto.com price remains suppressed and what it will take to recover losses

Crypto.com price is in an unfortunate position. Since the sell-off from April highs at $0.50, the bulls have seen no pullbacks worth selling their losing investment into. The Crypto.com price has consolidated and declined for months with no retaliation from the bulls. In short, investors are avoiding engagement with cryptocurrency exchange tokens.

ApeCoin Price Prediction: APE hangs by a thread

ApeCoin price is breaking below an important technical element in the ASIA PAC session this morning that could signal the end of the current rally. At risk now is a full paring back of all the incurred gains and a swing back to the low of this year, near $3.00. In total, ApeCoin traders could stand to lose roughly 30%.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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