BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT By Cointelegraph

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(BTC) and several other altcoins have bounced off their rapid assist ranges after consumers tried to arrest the present decline. Bloomberg senior commodity strategist Mike McGlone highlighted in a latest tweet that Bitcoin was buying and selling roughly 20% under its 50-week transferring common and such discounted ranges have “usually resulted in good worth assist.”

The bearish worth motion of the previous few days doesn’t appear to have deterred the institutional merchants from accumulating at decrease ranges. In keeping with CoinShares’ Feb. 22 “Digital Asset Fund Flows Weekly” report, institutional buyers pumped about $89 million into Bitcoin funds between Feb. 14 and Feb. 18, taking the entire inflows within the present month to $178.3 million.

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