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


The cryptocurrency market and the U.S. stock market were sold off on September 20 Worried about collapse The bankruptcy of Chinese real estate giant Evergrande will not only hurt China, but will also have a broader impact on other markets.

When sentiment is bearish, traders will sell positions they consider risky and switch to safe-haven trades. This may be one of the reasons for Bitcoin’s sharp decline (Bitcoin) And most major altcoins on September 20.

Daily cryptocurrency market performance. source: Coin 360

According to Bybt’s data, Bitcoin holdings in Binance Wallet soar 29,717 Bitcoins have been reduced in the past 30 days. History shows that the increase in the Bitcoin balance on Binance caused the price of Bitcoin to fall.

The Bitcoin balance on Binance rose from 99,700 BTC on April 20 to 347,590 BTC on June 26. During this period, the price of Bitcoin plummeted from approximately US$57,000 to approximately US$30,000.

The question now is whether the sell-off will deepen, or the lower level will attract traders to actively buy? Let’s analyze the charts of the top 10 cryptocurrencies to find out.