Price analysis 7/19: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
Bitcoin's failure to rebound off strong support levels increases the risk of a deeper correction that could also negatively impact altcoins. After failing to sustain above the resistance of its narrow range, Bitcoin (BTC) fell near a key support on July 18. The consolidation of the past few days seems to be an accumulation phase, according to Glassnode’s Bitcoin Accumulation Trend Score. A similar score was seen during the accumulation phases between November to December and again from March to April. According to CoinShares data, institutional investors continue to plow funds into digital asset investment products, which rose to $742 million in the past four weeks. Bitcoin continues to attract the lion’s share of the funds, with last week alone accounting for $140 million in inflows. Daily cryptocurrency market performance. Source: Coin360 Morgan Creek Capital chief investment officer and founder Mark Yusko said in an interview with Cointelegraph that Bitcoin’s fair value is $55,...