Top 5 cryptocurrencies to watch this week: BTC, BNB, UNI, FIL, THETA
BTC consolidation has opened the door for BNB, UNI, FIL and THETA to go higher.
Price analysis
Bitcoin (BTC) made a strong comeback in July and is on track for its best monthly gains since October 2021. The strong rally in Bitcoin and several altcoins has pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6.
Investors seem to be making the most of Bitcoin's depressed levels. Data from on-chain analytics firm Glassnode shows Bitcoin in exchange wallets fell to 2.4 million Bitcoin in July, down from March 2020 levels of 3.15 million Bitcoin. This sent the metric to its lowest level since July 2018.
Daily View Crypto Market Data . Source: Coin360Mike McGlone, Senior Commodity Strategist for Bloomberg Intelligence, pointed out that the US Federal Reserve's indication to consider hikes “meeting-by-meeting” rates could lay the groundwork for Bitcoin to outperform most assets. He said that "Bitcoin's risk-reward ratio is looking favorably for one of the biggest bull markets in history".
Could Bitcoin extend its short-term rally and could this trigger some altcoins to buy? Let's study the charts of the top 5 cryptocurrencies that are likely to outperform in the...
BTC consolidation has opened the door for BNB, UNI, FIL and THETA to go higher.
Price analysis
Bitcoin (BTC) made a strong comeback in July and is on track for its best monthly gains since October 2021. The strong rally in Bitcoin and several altcoins has pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6.
Investors seem to be making the most of Bitcoin's depressed levels. Data from on-chain analytics firm Glassnode shows Bitcoin in exchange wallets fell to 2.4 million Bitcoin in July, down from March 2020 levels of 3.15 million Bitcoin. This sent the metric to its lowest level since July 2018.
Daily View Crypto Market Data . Source: Coin360Mike McGlone, Senior Commodity Strategist for Bloomberg Intelligence, pointed out that the US Federal Reserve's indication to consider hikes “meeting-by-meeting” rates could lay the groundwork for Bitcoin to outperform most assets. He said that "Bitcoin's risk-reward ratio is looking favorably for one of the biggest bull markets in history".
Could Bitcoin extend its short-term rally and could this trigger some altcoins to buy? Let's study the charts of the top 5 cryptocurrencies that are likely to outperform in the...
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