Price analysis 8/9: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LINK

Bitcoin’s (BTC) recovery from $29,482.61 on July 21 has continued to surpass one resistance after another. On Aug. 9, rose above the 200-day simple moving average, an indicator watched by institutional investors to determine whether the asset is bullish or bearish.

A positive sign about the Aug. 9 rally is that Bitcoin was not affected by the flash crash in gold, which momentarily dipped to a four-month low. This suggests that traders are focusing on the fundamentals of the sector and are not affected by the performance of other asset classes.


Daily cryptocurrency market performance. Source: Coin360