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

Bitcoin (bitcoin) and most major altcoins Witnessed a sharp sell-off on August 19, but there does not appear to be a specific trigger for the sudden drop. The sharp drop has resulted in more than $551 million in liquidations over the past 24 hours, according to data from Coinglass.

With the exception of the V-shaped bottom, other patterns usually take time to complete as both buyers and sellers try to gain the upper hand. This tends to result in some random volatility, which can be an opportunity for short-term traders, but long-term investors should avoid getting caught up in the noise.

Daily cryptocurrency market performance. resource: Coin 360

Investors who bought bitcoin in 2017 or earlier did so only by holding positions, Glassnode data shows.percentage of Bitcoin supply dormant for at least five years An all-time high of 24.351% was reached on Aug. 18, indicating that holders are reluctant to panic sell or take small profits.

Can Bitcoin and most altcoins challenge the June lows, or will the bulls buy the current dip? Let’s study the chart of the top 10 cryptocurrencies to find out.