BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, SHIB, AVAX

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Bitcoin (BTC) and Ether (ETH) are testing psychologically important support levels at $ 60,000 and $ 4,000 respectively. Both of these levels are critical to keeping the uptrend intact in the short term.

While the fall may frighten profit traders, Bitcoin whales seem to view this dip as a buying opportunity. On-chain data shows that the third-largest Bitcoin whale added 207 Bitcoin to the holdings at an average price of about $ 62,053 per Bitcoin.

After the last purchase, the whale’s ownership increased by 635 Bitcoin in November, according to journalist Colin Wu.

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Daily market performance of cryptocurrency. Source: Coin360

However, not everything is bullish news for Bitcoin and cryptocurrencies. The U.S. dollar has risen to a sixteen-month high due to expectations that rising inflation may force the U.S. Federal Reserve to raise tariffs and accelerate the decline of its $ 120 billion monthly purchase program.

LMAX Group currency strategist Joel Kruger also said a strengthening dollar might hit risky assets hardest and that could be the reason for the recent withdrawal in Bitcoin and altcoins.

Will bulls defend the strong support levels and stage a recovery or aggressive selling will pull crypto prices below their strong support levels? Let’s study the charts of the top 10 cryptocurrencies to find out.