Bitcoin (Bitcoin) Recovery is facing strong resistance near $35,000, but Mike McGron, senior commodity strategist at Bloomberg Intelligence, still exists BullishIn his latest analysis, McGlone stated that the probability of Bitcoin reaching $60,000 is greater than the probability of the price falling to $20,000.

Institutional investors seem to be taking advantage of Bitcoin’s weaknesses put up Their position. Cathie Wood’s Ark Invest has added more than 450,000 shares of Grayscale Bitcoin Trust through two separate purchases in the past week, increasing its holdings to more than 9 million shares. In addition, Edge Wealth Management and Rothschild Investment Corp have also added GBTC stocks to their portfolios.

Daily view of encrypted market data. source: Coin 360

However, not everyone is so optimistic about Bitcoin. Delphi Digital analysts pointed out that Bitcoin is test The support and break of the 12-month moving average may lead to further declines. Kevin Kelly, a certified financial analyst at Delphi Digital, said that a drop below $30,000 may be detrimental to Bitcoin.

If Bitcoin remains range-bound, traders may shift their attention to selected altcoins, which may come as a surprise. Let’s study the charts of the top 5 cryptocurrencies that may continue to attract buying interest in the short term.