Price analysis 7/23: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC


Bitcoin’s (BTC) recovery is facing resistance near $32,500, suggesting that the ride higher may not be an easy one. However, a positive sign is that demand for cryptocurrencies remains strong and lower levels continue to attract buyers.

A survey of 150 family office clients of Goldman Sachs shows that 15% have already invested in crypto-assets and 45% want to take the plunge. The family offices manage more than $6 trillion in assets, meaning, even a small percentage of inflow from this sector could eventually boost crypto prices.

Daily cryptocurrency market performance. Source: Coin360

It is not only the wealthy who are investing in cryptocurrencies. A recent survey by Gallup shows that Bitcoin ownership among U.S. investors, with $10,000 or more invested in stocks, bonds, or mutual funds, has increased from 2% in 2018 to 6% as of June 2021.

JPMorgan Chase may soon allow its retail wealth clients to invest in cryptocurrencies. The bank’s advisers may not be allowed to recommend crypto to their clients but they can execute trades requested by them.

All this shows that investor interest in the crypto sector continues to increase. Could this result in a sustained recovery? Let’s study the charts of the top-10 cryptocurrencies to find out.