Cryptocurrencies Price Prediction: Bitcoin, ImmutableX, ApeCoin – European Wrap 28 July

FXStreet Team FXStreet

Grayscale advocates for spot BTC ETF approvals on behalf of customers but wants its GBTC added to the mix

Grayscale asset management has submitted a comment letter to back its Grayscale Bitcoin Trust’s (GBTC) pending 19b-4 filing, adding to the list of the seven who have already submitted Spot BTC ETF filings to the US SEC for consideration.

Grayscale, which boasts up to $7 billion in assets under management, has written a comment piece to the US Securities and Exchange Commission (SEC). Through its legal team led byDavis Polk, the asset manager attempts to convince the financial regulator why approving all the spot BTC Exchange Traded Funds (ETF) applications would be the better decision.

ImmutableX price rallies 16% while Bitcoin, Ethereum and Ripple consolidate

ImmutableX (IMX) price saw a massive surge in buying pressure after a huge uptick in interest from traders. This outlook comes as Bitcoin price continues to trade sideways, hugging the $30,000 psychological level. Considering the way altcoins are pumping and dumping, this uptick could also be short-lived, with the possibility that these gains are undone quickly.

ImmutableX (IMX) price rallied 16% in less than three hours on Friday, increasing from $0.722 to $0.842. This uptick can be attributed to the massive 248% upswing in Open Interest. The number of contracts saw an increase to $21 million.

ApeCoin price likely to pull back as on-chain metrics flip bearish

ApeCoin, one of the largest metaverse tokens in the ecosystem, is struggling to recover as the selling pressure on the asset seems to be on the rise. The ERC-20 governance and utility token’s on-chain metrics have flipped bearish this week, signaling that a further pullback in APE price is likely.

On-chain metrics like daily active addresses, social dominance and supply on exchanges have turned bearish for APE this week. This is key for APE holders and market participants as changes in on-chain metrics are likely to influence sentiment among traders.

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XRP stuck in tight range as whale demand, on-chain activity strengthen

Ripple (XRP) declines for a second day in a row, trading around $1.07 at the time of writing on Tuesday. The remittance token has continued to sustain a bearish outlook, aligning with the broader cryptocurrency market.

Bitcoin rises toward $64,000 as Coldcard exploit, strategy sales recede – ADA advances

Bitcoin rose 1.6% over the last 24 hours, climbing as high as $64,160 to the highest since July 31 before retreating. The rebound followed a selloff spurred by an exploit that targeted a cold wallet over the weekend and bitcoin sales by the world’s largest corporate holder.

Crypto Today: Bitcoin, Ethereum, XRP shows recovery signs as Ethereum and XRP struggle

Bitcoin (BTC) advances above $63,000 on Tuesday, buoyed by increasing investor risk appetite. Ethereum (ETH) continues to trade under pressure below the supply range at $1,900 and above the short-term $1,800 support. At the same time, Ripple’s (XRP) upside is constrained under the pivotal $1.10 level while support at $1.00 remains intact.

US Yen intervention puts Bitcoin, risk assets on notice for liquidity flux

Washington’s growing coordination with the Bank of Japan (BoJ) points to a potential boost in global dollar liquidity — even as it runs up against a yen carry trade unwind that could squeeze liquidity if it deepens further. Last week, the US and Japan conducted a rare joint intervention to prop up the yen, which had slid to 40-year lows of 164 per dollar — the first of its kind since 1998.

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.