BTC, ADA, AVAX, CAKE, ATOM

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Bitcoin (BTC) is knocking on the doors of the key $ 50,000 level and most traders are still bullish even after the digital asset went from the July 20 low of $ 29,278 to an intraday high of $ 49,757.04 on August 21 increased by 70%.

The surveillance resource’s material indicators indicated many puts at the strike price of $ 50,000 and the “almost consistently positive funding (overheated)” suggesting a rejection at current levels and a “pullback into September”.

Daily view of crypto market data. Source: Coin360

Nikita Ovchinnik, 1inch Network’s chief business development officer, said several new institutional investors got into crypto over the past year and that “they didn’t come for short-term gains”.

Another positive sign for the crypto sector is the ever-growing list of unicorns. Analysts expect more companies to join the list as the adoption of crypto and blockchain increases.

Bitcoin’s hesitation near the $ 50,000 mark could shift the focus to altcoins? Let’s look at the charts of the top 5 cryptocurrencies that are likely to attract traders’ attention in the short term.