Cryptocurrencies Price Prediction: Bitcoin, Litecoin & Chainlink — Asian Wrap 18 August

FXStreet Team FXStreet

Bitcoin price dips to the $25,100 range with $820 million long positions liquidated across the market

Bitcoin (BTC) price dipped below critical levels to test its range low during the afternoon hours of the US session. The slump was accompanied by heavy liquidations across the board, allowing retail traders to step in while longs closed their positions to avoid further losses.

The “Silver to Bitcoin’s Gold” marks 2023 low as Litecoin price slides by 12% owing to BTC crash

Litecoin price is witnessing an unfavorable month treading lower with every passing day. The altcoin is famous for being secondary to Bitcoin, but it seems like that label is doing more damage to the cryptocurrency than good.

Chainlink price crashes by almost 20% as investors switch to selling LINK

Chainlink price is bearing the brunt of the broader market bearish woes as the altcoin slipped to a monthly low this week. The investors have not been of much help either since they are looking to offset their losses. However, the helm of recovery sits in their hands.

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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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