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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple — Asian Wrap 28 August

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple — Asian Wrap 28 August
FXStreet TeamFXStreet TeamFXStreet

Bitcoin dives below $60K as crypto market liquidations charge above $300 million

The crypto market experienced over $313 million in liquidations on Tuesday after Bitcoin plunged below $60K, per Coinglass data. Long traders have sustained 90% of the total liquidations worth $282 million, a magnitude above $31.36 million in short liquidations.

Ethereum plunges by 9% following selling pressure from whales and ETF investors

Ethereum (ETH) is down nearly 9% on Tuesday following increased selling pressure from ETH ETF investors and whales. The selling pressure has also led to Ethereum co-founder Vitalik Buterin being accused of not believing in ETH as a store of value (SoV).

XRP could rally as Ripple whales buy 50 million coins in 24 hours

Ripple (XRP) lost key support at $0.65 early in August. Since then the altcoin is trading sideways. Key market movers like whale accumulation, XRP supply distribution and on-chain activity are likely influencing the altcoin’s price. 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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