bitcoin

BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB


The price of Bitcoin (BTC) has been trying to reverse course while the S&P 500 is still giving up gains on a daily basis. Even though US stock markets have been falling since August 26, Bitcoin has managed to hold the $20,000 mark.

However, investor interest seems to be shifting away from Bitcoin. This led to a reduction in assets under management (AUM) for Bitcoin investment products, which fell 7.16% in August to $17.4 billion, according to a new report from CryptoCompare.

In comparison, the AUM of Ethereum products increased by 2.36% to $6.81 billion over the same period, indicating that investors are positioning themselves in Ethereum products before the merger.

Daily performance of the cryptocurrency market. Source: Coin360

Even though prices are falling across the entire ecosystem, bear markets at least offer some attractive opportunities for long-term investors. To capitalize on this opportunity, Reddit co-founder Alexis Ohanian’s venture capital firm Seven Seven Six is ​​aiming to raise $177.6 million for a crypto investment fund. In a similar vein, former executives from Galaxy Digital and Genesis are seeking to raise a $500 million fund.

Although the short term looks uncertain, long term investors may be looking for bottom fishing opportunities. Could Bitcoin and major altcoins stay above their immediate support levels? Let’s study the charts of the top 10 cryptocurrencies to find out.