Top 5 cryptocurrencies to watch this week: BTC, ADA, AVAX, CAKE, ATOM
(BTC) is knocking at the doors of the key $50,000 level, and most traders are still optimistic, even after the digital asset rallied 70% from the July 20 low at $29,278 to an intraday high at $49,757.04 on Aug. 21.
Monitoring resource Material Indicators pointed to a lot of puts at the $50,000 strike price and the “positive funding almost across the board (overheated),” which suggests a rejection at the current levels and a “pullback going into September.”
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