Bitcoin News

Price analysis 4/7: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA

0

According to CoinShares, the institutional inflow into crypto products hit $4.5 billion in Q1, which is 11% higher than the intake seen in Q4 2020. This shows that institutional interest is on the rise but the quarter-on-quarter growth has slowed down from the 240% recorded in Q4 2020. 

As Bitcoin price moves higher, more funds are needed to sustain the levels. Therefore, if institutional inflows do not pick up in the next few days, Bitcoin (BTC) and other altcoins could witness a major correction.

Daily cryptocurrency market performance. Source: Coin360

The next correction could test the resolve of institutional investors and even though these investors have deep pockets, some may have jumped into crypto only for quick speculative gains. There is always the possibility that investors may dump their positions if Bitcoin starts a correction.

While this may accelerate the fall, lower levels are likely to attract investors who may have missed the bus earlier. If this assumption plays out, volatility throughout the market may remain high in the next few days.

Let’s analyze the charts of the top-10 cryptocurrencies to see if it also projects a possible correction.