Price Analysis 1/14: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE

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Bitcoin (BTC) and most major altcoins are facing selling at higher levels and buying at lower levels, indicating the possibility of range formation. On-chain analytics firm Whalemap said a “recovery of $46,500 will look like a trend reversal,” for Bitcoin, as the previous 90,000 BTC accumulation phase was at that level.

Fidelity Digital Assets said in its annual report that the “massive accumulation” of Bitcoin by Bitcoin miners suggests that the “Bitcoin cycle is far from over.” The report added that more sovereign nations could “acquire Bitcoin in 2022 and perhaps even see a central bank make an acquisition.”

Daily performance of the cryptocurrency market. Source: Coin360

The CEO of Swiss financial institution SEBA Bank, Guido Buehler, said in a recent interview that if the right counterparties and the necessary regulations are in place, SEBA’s asset pools could invest in Bitcoin at the right time. Buehler painted a bullish picture for Bitcoin, saying a rally to $75,000 was possible.

Will Bitcoin and most major altcoins remain limited in the short term? Let’s study the charts of the top 10 cryptocurrencies to find out.