Price analysis 7/30: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC – BTC Ethereum Crypto Currency Blog

Traders expect altcoins to move higher now that Bitcoin price finally pierced the $41,000 resistance.

Bitcoin (BTC) and most major altcoins seem to be faltering near their respective overhead resistance levels. This suggests that some investors are continuing to sell at higher levels.

However, 21st Paradigm co-founder Dylan LeClair said that on-chain data shows “big transfer volumes from over-the-counter (OTC) desks over the last week.” Cointelegraph also recently highlighted a historic 57,000 BTC outflow from exchanges on July 28.

Ecoinometrics also cited on-chain data to show that “whales” and “small fish” accumulated Bitcoin when the price recovered from $29,400 to over $40,800 this week.

Daily cryptocurrency market performance. Source: Coin360

Institutional investors are also not to be left behind in their plans to accumulate more Bitcoin. MicroStrategy, which holds about 105,085 Bitcoin, said in its second-quarter report that the company intends “to deploy additional capital into our digital asset strategy.”

Wealthfront, a popular US-based robo-investment firm $25 billion in assets under management, announced that it would allow its clients to allocate up to 10% of their portfolio into Grayscale’s Bitcoin Trust and the Grayscale Ethereum Trust.

With demand increasing from small investors and high-net-worth individuals, will cryptocurrencies stage a sharper recovery? Let’s study the charts of the top-10 cryptocurrencies to find out.