$BTC $TON $XRP

🔥🔥🔥 Price analysis 8/9: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB:

♦️ Buyers are struggling to build upon Bitcoin’s sharp recovery on Aug. 8, indicating that the bears remain active at higher levels.

Bitcoin 

$60,464

 is close to completing a death cross, where the 50-day simple moving average (SMA) falls below the 200-day SMA. Although the death cross is believed to be bearish, analyst Timothy Peterson said in a post on X that Bitcoin has recorded a median return of 18%, two months after the eight death cross occurrences since 2015.

♦️ Bitcoin whales also seem to be sensing a bullish outlook. Whales with total holdings between 10 and 1,000 Bitcoin aggressively purchased on Aug. 5 and Aug. 6. However, the same cannot be said for the spot Bitcoin exchange-traded funds buyers who sold during those two days, resulting in a net outflow, per Farside Investors data.

The panic selling and the subsequent recovery in Bitcoin in the past few days suggest that the bulls and the bears are battling it out for supremacy. The price action is likely to remain volatile in the near term until a new directional move begins.

Will buyers drive Bitcoin toward $70,000, or could bears pull the price to $55,000? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

📌 Bitcoin price analysis

The bears pulled Bitcoin below $55,724 on Aug. 7, but the bulls bought the dip and pushed the price to the moving averages on Aug. 8.

📌 Ether price analysis

ETH turned up sharply on Aug. 8 and broke above the 38.2% Fibonacci retracement level of $2,602, indicating solid buying at lower levels.

📌 BNB price analysis

The failure of the bears to sink BNB

BNB

tickers down

$511

below the $460 level attracted buyers, who pushed the price above $495 on Aug. 8.

,1K

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