BTC, MATIC, EOS, XMR, AAVE

Bitcoin (BTC) is struggling to maintain any worth degree in the course of the present pullback, indicating an absence of demand at greater ranges. Does this imply that the bull development is over and the institutional buyers are abandoning the crypto markets?

No! It is the opposite method round. Glassnode’s weekly publication pointed out that the Grayscale Bitcoin Trust (GBTC) premium is rising, suggesting that institutional buyers are accumulating at decrease ranges.

GBTC shouldn’t be alone, one other fashionable automobile for institutional buyers, the Canadian Purpose Bitcoin exchange-traded fund has additionally witnessed sturdy capital inflows. According to analysts at Glassnode, this exhibits “early indicators of renewed institutional curiosity.”

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Crypto market information day by day view. Source: Coin360

Another metric that could be signaling a possible bottom in Bitcoin is its dominance chart, which looks similar to the early part of 2017. If Bitcoin’s dominance follows a similar trajectory to 2017, it will indicate that Bitcoin is still some distance away from its peak and altcoin season still has room to run.

Now that the monthly options and futures expiry has passed, investors are likely wondering if Bitcoin could start a sharp recovery next week and which altcoins will rally if that happens. 

Let’s look at 5 cryptocurrencies that could start trending moves this week.