9/20 Price Analysis: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, AVAX

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Crypto markets and US stock markets sold off today over fears that the collapse of Chinese real estate giant Evergrande not only hurt China, but has broader implications in other markets as well.

When sentiment is bearish, traders move away from positions they perceive to be risky in favor of safe-haven trades. This could be one of the reasons for Bitcoin (BTC) and most major altcoins to drop sharply today.

Daily performance of the cryptocurrency market. Source: Coin360

Bybt data shows that Bitcoin held in Binance wallets has jumped 29,717 Bitcoin in the past 30 days. History suggests that an increase in the Bitcoin balance on Binance caused the price of Bitcoin to drop.

The Bitcoin balance on Binance fell from 99,700 BTC on April 20 to 347,590 BTC on June 26. During that time, the price of Bitcoin plunged from around $ 57,000 to around $ 30,000.

Now the question is whether the massive sales could escalate or will lower levels attract aggressive buying from traders? Let’s analyze the charts of the top 10 cryptocurrencies to find out.