Friday, September 2, 2022
HomeCryptoAlt CoinsBTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

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


Bitcoin (BTC) price has been trying to change course while the S&P 500 is still giving up gains on a daily basis. Even though the United States equities markets have been grinding lower since Aug. 26, Bitcoin has managed to hold on to the $20,000 mark. 

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

In comparison, the AUM for Ethereum products increased 2.36% to $6.81 billion during the same period, indicating that investors are positioning themselves in Ethereum products ahead of the Merge.

Daily cryptocurrency market performance. Source: Coin360

Even though prices are down across the ecosystem, bear markets at least offer attractive opportunities to 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. On similar lines, former executives from Galaxy Digital and Genesis are looking to raise a $500 million fund.

Although the near 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.