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Price analysis 1/13: BTC, ETH, XRP, LTC, ADA, BCH, DOT, XLM, LINK, BNB

Published 01/13/2021, 02:20 PM
Updated 01/13/2021, 04:00 PM
Price analysis 1/13: BTC, ETH, XRP, LTC, ADA, BCH, DOT, XLM, LINK, BNB

The top 100 richest Bitcoin (BTC) addresses have added 334,000 Bitcoin to their existing holdings over the past 30 days, a clear signal that whales and institutional-size investors bought the dip. A positive sign is that most of them have not reacted to the recent fall in Bitcoin’s price. This suggests that large investors are bullish on Bitcoin for the long term rather than looking to make a quick gain.

An important element in the recent rally is many of the purchases have come from institutional investors who were critical of Bitcoin in the past. The list is likely to get bigger as Oaktree Capital’s co-chairman and co-founder Howard Marks is revisiting his previous “skeptical view” on Bitcoin. In his latest investor memo, Marks said that “thankfully,” his son had purchased a meaningful amount of Bitcoin for the family.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
BCH/USD daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
XLM/USDT daily chart. Source: TradingView
LINK/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView

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