Cryptocurrencies Price Prediction: Ethereum, Chainlink & Bitcoin – American Wrap 09 November

FXStreet Team FXStreet

Major cryptocurrencies pressured, BTC/USD under $17K

Major cryptocurrencies remained distressed across the board on Wednesday, weighed amid fears over the FTX-Binance deal. Against the US dollar, Ethereum and Ripple are down more than an eye-popping 20%, and Bitcoin has shed 8% against its US counterpart, as of writing.

Bitcoin extends steep fall as uncertainty grows

Bitcoin extends steep fall into second day, being down over 7% into early US session on Wednesday, following Tuesday’s 9.5% drop (the biggest one-day loss since Sep 13). Cryptos are under increased pressure for the second day, as fears about the financial health of major exchange FTX grow, despite plans for a rescue deal from bigger rival Binance, which signed a nonbinding agreement to buy FTX’s non-US unit to help cover a liquidity crunch of the rival exchange.

Chainlink announces staking in December as LINK price uptrend comes undone

Chainlink price is yet to escape the selling pressure traversing the crypto market. The oracle price feed token tumbled after running into resistance at around $9.50. Although tentative support at $8.00 could have absorbed the selling pressure, the entire crypto market generally sustained losses emanating from a bank run-like withdrawal on FTX exchange.

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Ripple holds $1.82 support as low retail demand weighs on the token

Ripple (XRP) is trading between a key support at $1.82 and resistance at $2.00 at the time of writing on Thursday, reflecting the lethargic sentiment in the broader cryptocurrency market.

Aster declines for fifth straight day despite buyback efforts

Aster trades under intense selling pressure, recording 3% loss at press time on Thursday. The perpetual-focused exchange resumed its Stage 4 buyback program on Wednesday and currently holds almost 52 million ASTER tokens.

Crypto Today: Bitcoin, Ethereum hold steady while XRP slides amid mixed ETF flows

Bitcoin eyes short-term breakout above $87,000, underpinned by a significant increase in ETF inflows. Ethereum defends support around $2,800 as mild ETF outflows suppress its recovery. XRP holds above at $1.82 amid bearish technical signals and persistent inflows into ETFs.

Bitcoin steadies near $87,000 as strong ETF inflows offset bearish pressure

Bitcoin is attempting to stabilize, holding near $87,000 on Thursday after this week’s pullback. Institutional demand shows signs of optimism, as US-listed spot Bitcoin Exchange-Traded Funds (ETFs) recorded fresh inflows of over $457 million on Wednesday.

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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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