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Cryptocurrencies Price Prediction: Bitcoin, Ripple & US – American Wrap 29 August

Cryptocurrencies Price Prediction: Bitcoin, Ripple & US – American Wrap 29 August
FXStreet TeamFXStreet TeamFXStreet

Bitcoin hovers around $60,000 as BTC ETFs record second consecutive day of outflows

Bitcoin's (BTC) price recovers from Wednesday's losses and trades higher by 2.3% at $60,320 at the time of writing on Thursday. However, the recovery could be short-lived as on-chain metrics project a negative outlook, as shown by negative exchange funding rates. At the same time, US spot Bitcoin ETFs posted their second consecutive day of outflows on Wednesday.
Bitcoin Spot ETF Net Inflow chart
Ripple (XRP) traders have consistently taken profits on their holdings in the last two weeks, per Santiment data. Once again, traders have grabbed $8.36 million in profit so far on Thursday. Typically, profit-taking negatively influences the asset as it increases the selling pressure. 
XRP
Donald Trump, the 45th President of the United States and the current Republican US presidential candidate for the November election, made a key announcement related to crypto early Thursday. Trump’s son, Eric, recently promoted the launch of their project, World Liberty Financial, on X . 
 
 

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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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