BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, LUNA, AVAX

Bitcoin (Bitcoin) And ether (Ethereum) Has retreated from their respective upper resistance levels, indicating that the bears continue to sell on rallies.

New research in Australia It shows that the Ethereum Improvement Proposal (EIP) 1559 upgrade has turned Ethereum into a better store of value than Bitcoin. The report stated that since EIP-1559, the annual growth rate of the supply of Ether is 0.98%, while the growth rate of the supply of Bitcoin is 1.99%.

With the proliferation of irreplaceable tokens, decentralized finance, and Metaverse-related altcoins, the demand for ether has been on the rise.Multiple analysts Still optimistic about ether And it is expected to rebound to the range between US$6,000 and US$10,000.

Daily cryptocurrency market performance. source: Currency 360

On-chain analysis company Glassnode said that the derivatives market and the high holdings of long-term holders Selling may prolong Bitcoin’s decline“The leverage of open positions in options and futures reaches or hits record highs” may cause shocks.

Can the Bitcoin correction pull down the entire crypto industry? Let’s study the charts of the top 10 cryptocurrencies to find out.