Bitcoin News

Price analysis 10/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI


Bitcoin (BTC) has been sustaining above $54,000 for the past few days but that has not resulted in euphoria among investors. Google Trends data shows that Bitcoin search interest has not picked up in recent days and is nearing one-year lows. Some analysts believe that this is a sign that only stronger hands are accumulating.

A recent report from CoinShares also showed that institutional investors pumped more than $226 million into Bitcoin products in the week ending Oct. 8. The analysis firm estimates that the total assets under the management of institutional crypto products have ballooned to $66.7 billion, just 5% below the record hit in May.

Daily cryptocurrency market performance. Source: Coin360

Data from Glassnode also shows that the Bitcoin wallets of long-term holders contain 13.3 million Bitcoin, accounting for 70% of the entire Bitcoin supply. The long-term holders have not sold their holdings and have also added more than 2.37 million Bitcoin to their wallets over the past seven months. Bitcoin purchasing by long-term whales outstrips newly mined coins by 12.7 times, the report added.

Could Bitcoin continue its up-move or is it time for a few days of consolidation? Let’s study the charts of the top 10 cryptocurrencies to find out.