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Price analysis 7/16: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC

Published 07/16/2021, 03:20 PM
Updated 07/18/2021, 05:40 PM
Price analysis 7/16: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC

Bitcoin (BTC) is witnessing a tough battle between the bulls and the bears near $31,000, which makes it an important level to watch out for. Data from Glassnode shows that the $31,000 to $34,300 zone has seen strong interest from buyers and sellers as 9.93% of the Bitcoin supply has moved in this zone.

The failure of Bitcoin to rally quickly from strong support levels indicates weak demand. Proof of the current disinterest comes from BlackRock (NYSE:BLK) CEO Larry Fink, who said in a recent CNBC interview that investor demand for cryptocurrencies had declined recently. Fink said that during his last two weeks of business travel, not one question about Bitcoin and crypto investing was presented to him.

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

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