Price analysis 7/16: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC(BTC) is witnessing a tough battle between the bulls and the bears near $31,000, which makes it an important level to watch out for. Data from Glassnode shows that the $31,000 to $34,300 zone has seen strong interest from buyers and sellers as 9.93% of the Bitcoin supply has moved in this zone.
The failure of Bitcoin to rally quickly from strong support levels indicates weak demand. Proof of the current disinterest comes from BlackRock (NYSE:) CEO Larry Fink, who said in a recent CNBC interview that investor demand for cryptocurrencies had declined recently. Fink said that during his last two weeks of business travel, not one question about Bitcoin and crypto investing was presented to him.
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