Price analysis 8/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

The United States equities markets are attempting to stabilize after the carnage on Aug. 26. On similar lines, Bitcoin (BTC) is also witnessing a see-saw battle near the psychological level of $20,000 with both the bulls and the bears vying for supremacy. 

Although several analysts are bearish on Bitcoin in the near term, it has not stopped the whales from accumulating at lower levels. Data from on-chain research firm Santiment shows that the number of whale addresses holding between 100 to 10,000 Bitcoin has risen by 103 in the past 30 days.

Daily cryptocurrency market performance. Source: Coin360

In bear markets, rumors spread fast and could result in quick declines, but many times, the fears are unfounded. Mt. Gox creditors confirmed on Twitter that the rumor of a 137,000 Bitcoin dump spread on social media was false. The creditors said that the infrastructure needed to start the repayment was still notin place.

Could Bitcoin and major altcoins sustain the rebound? Let’s study the charts of the top-10 cryptocurrencies to find out.