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

Bitcoin (BTC) has been stuck between $45,400 and $47,500 for the past two days, indicating an uphill battle between buyers and sellers as both try to take control of the trend.

Data from on-chain analytics firm Glassnode showed that 100,000 Bitcoin exited exchanges in March. These large amounts of withdrawals have only happened twice in Bitcoin’s history, with the largest occurring in March 2020. However, this does not mean that the price will increase immediately. In 2020, the momentum only increased from the fourth quarter of the year.

In the short-term, analysts remain divided, with some expecting Bitcoin to fall to $44,800 or even $43,000 while others expect it to rally to the psychological $50,000 level.

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Daily performance of the cryptocurrency market. Source: Coin360

As crypto markets mature, they continue to attract new investors. A report by Gemini Crypto Exchange highlighted that the number of users who bought their first cryptocurrency in 2021 increased by more than 50% in India, Brazil and Hong Kong. Even Latin America, Asia-Pacific, the United States, and Europe saw over 40% more new users starting investing in 2021.

Could bitcoin and altcoins bounce off their support and extend the recovery? Let’s study the charts of the top 10 cryptocurrencies to find out.