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Price analysis 3/26: BTC, ETH, BNB, ADA, DOT, XRP, UNI, THETA, LTC, LINK

Bitcoin price bounced off the 50-day moving average but the real test is near $57,500 where the bears are likely to push back.
Glassnode data shows Bitcoin (BTC) exchange reserves on Coinbase have dropped by about $8 billion. This indicates that institutional investors are locking away their purchases in cold storage for the long term instead of booking profits. HODLing by institutions is a huge positive as it will continue to reduce Bitcoin’s available supply, which may boost prices even if demand begins to diminish. The news flow suggests no slowdown in institutional adoption. New Zealand Wealth Funds Management revealed that its product KiwiSaver Growth Strategy allocated 5% of its assets to Bitcoin in October 2020. According to the firm’s chief investment officer James Grigor, the first Bitcoin purchase took place when Bitcoin was at $10,000. This means that when Bitcoin hit an all-time high at $61,825.44, the firm was sitting on a 518% profit. Grigor also added that Bitcoin could feature in more KiwiSaver schemes within the next five years. Daily cryptocurrency market performance. Source: Coin360In a recent podcast with Raoul Pal, New York Digital Investment Group CEO Robert Gutmann said the firm has been receiving inquiries from sovereign wealth funds about possible Bitcoin investments. Pal disclosed that Singapore’s sovereign wealth fund Temasek had been buying virgin Bitcoin from miners.More investors may arrive if the United States Securities and Exchange Commission approves a Bitcoin exchange-traded fund. The latest to seek approval to launch a Bitcoin ETF is Fidelity Investments. This shows that …
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