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

Bitcoin (BTC) and most major altcoins are stuck in a tight range with bulls buying near the support and bears selling at resistance levels. Usually, such tight ranges are followed by an expansion in volatility.

Although a few analysts have not ruled out a quick drop to low $40,000s, most traders expect Bitcoin to rebound sharply and move up to $60,000.

Goldman Sachs said in a note to investors that if Bitcoin continues to increase its market share over gold as a store of value and crosses the 50% mark, then it could rally to $100,000 over the next five years.

On-chain analytics provider Glassnode said in its report on Jan. 3 that Bitcoin’s illiquid supply has increased to more than 76% of the total circulating supply. According to Glassnode researchers, the drop in liquid supply suggests that price capitulation looks unlikely in the near future.

Could Bitcoin surprise with a sharp move down and pull the major altcoins lower? Let’s study the charts of the top 10 cryptocurrencies to find out.