BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX


Bitcoin (bitcoin) and most major altcoins are struggling to find a bottom, suggesting traders are selling their positions out of fear. The big question on everyone’s mind is whether the sell-off is over, or will it continue to fall?

Dylan LeClair, senior analyst at UTXO Management, emphasized that the network cost basis, the average price of the last time various investors moved Bitcoin, was $24,000, and historically, Cost basis to price ratio has fallen below 1.0.

If history were to repeat itself, according to this indicator, Bitcoin may have to fall further to make it an attractive buy.

Daily cryptocurrency market performance. source: Coin 360

Long-term investors don’t appear to be disturbed by Bitcoin’s recent correction. Glassnode data shows that investors continue to withdraw their coins to cold storage.

Lex Moskovski, chief investment officer at Moskovski Capital, said: “Bitcoin’s illiquid supply is increasing.

Bitcoin and most major altcoins are nearing strong support levels. Can investors use their opportunity to buy or will the bears prevail? Let’s study the chart of the top 10 cryptocurrencies to find out.