BTC$28 068.88


ETH$1 796.91




Binance Coin


USD Coin




Risk demand recovery has given Bitcoin a chance to rebound

23 Jul 2021


Cryptocurrencies took advantage of the rebound in the stock market, locally offsetting the recent decline. From a broader perspective, the coin only manages to offset part of the losses but globally it still fails to return to growth. Bitcoin adds almost 5% during the last 24 hours. The growth comes with higher trading volumes, which is a positive signal. However, there are concerns that this positive dynamics will exhaust its potential already at current price levels around $32K.

If this is indeed the case, we get a scenario of sustained selling of the cryptocurrency while trying to grow. However, if within the previous cycle in early 2018 this led to the collapse of the crypto market and the beginning of the crypto winter, now the sentiment of the retail sector has no global impact on Bitcoin. The rally to $65K was not driven by retail crypto enthusiasts, the price was driven by big capital. Of course, the rally was supported by the retail sector but even the maximum level of panic by private investors is hardly catastrophic.

Bitcoin’s clear dependence on the decisions of big capital, which has no special feelings about digital currencies and pursues only the goals of maximum enrichment, sets up scepticism in assessments of long-term potential. The crypto community used to fear Bitcoin’s dependence on the concentration of computing power in China. Now the fear is the large involvement of big capital. Of course, when institutional investors buy, it’s only welcome as the price grows but sooner or later, they will start selling.

The good news is that now we can observe a stage of asset accumulation. If you look at the news agenda, big capital continues to increase its stake in the crypto sector. For example, the Rothschild Investment Corp fund increased its holdings in Grayscale’s BTC and ETH trusts by 5%. This is now a general trend, and it is very likely that we will still see Bitcoin rise in the coming days or weeks. However, at some point a new massive sell-off will begin with a potential $10K target, zeroing in on the entire rally from last October.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 69.6% 54 $28 068.88 1.33% 7.74% $542 479 232 239 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 79.6% 39 $1 796.91 2.35% 4.75% $219 895 368 505 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $1.001141 -0.09% -0.12% $78 575 681 204 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 74.4% 51 $323.51 -0.44% -2.98% $51 078 681 358 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 91.6% 2 $0.999580 0.05% -0.01% $34 405 741 418 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 84.4% 21 $0.427684 -3.54% 15.97% $21 790 915 468 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 62% 82 $0.105273 -13.59% 20.81% $18 255 461 602 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 78.4% 44 $0.362363 -2.84% 8.30% $12 581 690 970 ADA 7 days price change
9 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 75.2% 51 $0.075582 0.44% 1.34% $10 027 482 654 DOGE 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 76% 47 $1.12 -0.15% -5.20% $9 805 540 362 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 70.4% 52 $21.64 -0.45% 7.94% $8 303 091 244 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $0.999779 0.02% -0.10% $8 062 237 832 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 75.6% 49 $6.21 0.24% -1.17% $7 268 180 249 DOT 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 73.2% 59 $92.99 5.58% 13.69% $6 746 412 901 LTC 7 days price change

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