Cryptocurrencies Price Prediction: Chainlink, Bitcoin & Apecoin – American Wrap 28 July

FXStreet Team FXStreet

Chainlink price recovers fueled by large transactions, whale accumulation

Chainlink witnessed a surge in transactions and accumulation by large wallet investors, popularly known as whales, over the past two weeks. These bullish on-chain metrics of LINK can explain the altcoin’s price hike over the last 14 days. Chainlink ranks among the top 30 cryptocurrencies by market capitalization and the token is leading the pack of altcoins this alt season in July.

Bitcoin Weekly Forecast: Can BTC reach $40k or $25k first?

Bitcoin price continues to show no signs of directional bias in the short term. But in the mid-to-long term outlook, BTC could trigger a minor downtrend that could lead to an extension of the 2023 bull run.

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.

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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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