Price analysis 8/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX

Price analysis 8/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX


After strong monthly gains in July, Bitcoin (BTC) and the altcoins have started the new month on a tentative note. Even the United States equities markets have started August on a soft note. 

Is the bottom in?

BofA Securities head of U.S. equity and quantitative strategy Savita Subramanian said in a recent note that the stock market usually bottoms after earnings estimates are revised lower but that has not yet happened during the current downturn.

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Analysts in the crypto space also remain divided on whether the current rise is a bear market rally or the start of a new bull phase.

Daily cryptocurrency market performance. Source: Coin360

However, a minor positive is that the world’s first Bitcoin spot price exchange-traded fund (ETF), the Purpose Bitcoin ETF, has added 2,600

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