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BTC, ADA, AVAX, CAKE, ATOM


Bitcoin (BTC) is knocking at the doors of the key $50,000 level and most traders are still optimistic even after the digital asset rallied 70% from the July 20 low at $29,278 to an intraday high at $49,757.04 on Aug. 21.

Monitoring resource Material Indicators pointed to a lot of puts at the $50,000 strike price and the “positive funding almost across the board (overheated),” which suggests a rejection at the current levels and a “pullback going into September.”

Crypto market data daily view. Source: Coin360

Nikita Ovchinnik, chief business development officer of 1inch Network said that several new institutional investors had taken exposure to crypto in the past year, and that “they didn’t come for short-term gains.”

Another positive sign for the crypto sector is the ever-growing list of unicorns. Analysts expect more companies to join the list as the adoption of crypto and blockchain increases.

Bitcoin’s hesitation near the $50,000 mark may shift focus to altcoins? Let’s study the charts of the top-5 cryptocurrencies that are likely to attract traders’ attention in the short term.