Russia’s massive build-up of soldiers, warplanes, equipment and extended military drills near Ukraine’s borders increased fears of a possible invasion within the next few days. That could have renewed selling in Bitcoin 

BTC

$18,187

, which plummeted below the strong support at $39,600.

Among the gloom and doom, there is a ray of hope for crypto investors because data from Glassnode shows that more than 60% of Bitcoin supply has not been used in any transaction for more than a year. This suggests that long-term hodlers are not dumping their positions in the downtrend.

Mike McGlone, chief commodity strategist at Bloomberg Intelligence, warned that Bitcoin could be in for a “rough week ahead" and cautioned that "inflation is unlikely to drop unless risk assets do.” However, McGlone expects Bitcoin to emerge stronger this year.

Could Bitcoin and altcoins stage a recovery and trap the aggressive bears? Let’s study the charts of the top-5 cryptocurrencies that may participate in a relief rally.