BTC, ETH, ICP, AAVE, LUNA

Bitcoins ( BTC ) the recovery faces strong resistance near the $ 35,000 mark, but Bloomberg Intelligence senior commodities strategist Mi...


Bitcoins (BTC) the recovery faces strong resistance near the $ 35,000 mark, but Bloomberg Intelligence senior commodities strategist Mike McGlone remains bullish. In his latest analysis, McGlone said the likelihood of Bitcoin reaching $ 60,000 is greater than the price falling to $ 20,000.

Institutional investors appear to be using Bitcoin’s weakness to to build their posts. Cathie Wood’s Ark Invest added more than 450,000 shares of Grayscale Bitcoin Trust in two separate purchases over the past week, bringing their holdings to over 9 million shares. In addition, Edge Wealth Management and Rothschild Investment Corp have also added GBTC stocks to their portfolio.

Daily view of crypto market data. Source: Coin360

However, not everyone is so bullish on Bitcoin. Delphi Digital analysts pointed out that Bitcoin is test 12-month moving average support and a break below could lead to a further decline. Kevin Kelly, a certified financial analyst at Delphi Digital, said a breakout below $ 30,000 could turn out to be bearish for Bitcoin.

If Bitcoin remains limited, traders are likely to focus on certain altcoins, which may surprise on the upside. Let’s take a look at the charts of the top 5 cryptocurrencies that may continue to attract the interest of buyers in the short term.