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Price analysis 5/9: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, DOGE, AVAX, DOT

Published 05/09/2022, 01:07 PM
Updated 05/09/2022, 02:40 PM
Price analysis 5/9: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, DOGE, AVAX, DOT
BTC/USD
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Global equity markets extended their decline on May 9 and the S&P 500 fell to a new 52-week low. Bitcoin (BTC) dropped to a new year-to-date low and most major altcoins extended their decline as they tracked the weakness in the stock markets.

Data from blockchain analytics firm Glassnode shows that Bitcoin inflows to centralized exchanges have risen to more than 1.7 million coins, the highest since February. This suggests that whales may be dumping their holdings as they anticipate an extended downtrend.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
LUNA/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
AVAX/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView

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