Price Analysis 8/3: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX

Bitcoin and most major altcoins are seeing buying near high support levels, indicating bullish sentiment.

Price analysis

Bitcoin (BTC) and altcoins follow US stock markets higher on August 3 as traders buy the dip.

Retail investors seem to be making the most of the Bitcoin bear market, as the number of wholecoiners has surged by 40,000 since June's sharp drop. In comparison, wallet addresses containing more than 1,000 Bitcoins have decreased by 113 since May.

Some analysts, however, believe that Bitcoin has yet to form a macroeconomic bottom. Trading firm QCP Capital expects Bitcoin to rise gradually for most of the third quarter amid high volatility.

They think Bitcoin's rally could top out at around $28,700. For the long term, the firm has not ruled out a final Bitcoin capitulation at around $10,000, which could mark a bottom for the bear market.

Daily performance of the cryptocurrency market. Source: Coin360

Nevertheless, Bitcoin miners appear to be in bullish mode as they increased their Bitcoin holdings in July following the June sellout. According to data from...