Cryptocurrencies Price Prediction: Bitcoin, Polygon & Solana — American Wrap 27 March
MicroStrategy buys $150 million worth of Bitcoin as institutional interest soars to eight-month high
Bitcoin has been noting increasing institutional interest for the last few days as whale movement on the network grew. At the same time, another major bitcoin holder MicroStrategy also dove back into accumulating BTC suggesting that the cryptocurrency could be taking a bullish turn.
Polygon (MATIC) price sees relentless pressure from the bears as they have set their sights on completing this bearish triangle drawn on the chart. With the base at $1.064, pressure is mounting for a break of that level to the downside. Although bulls have tried to break out of it on several occasions, each time a firm rejection is the result. This points to bears being in the driver’s seat at the moment.
While large market capitalization assets like Ethereum noted a decline in capital inflow, Solana (SOL), XRP and Polygon’s token MATIC witnessed an inflow of funds. This has fueled a bullish sentiment among holders. While Bitcoin rally takes a backseat, demand for altcoins and their mentions on social media are on the rise.
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FXStreet Team
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