Bitcoin 

BTC

$20,722

 continues to face strong selling as bulls attempt to flip the psychological level at $60,000 into support. Some analysts believe that Bitcoin could enter a correction as traders book profits following last week's successful launch of Bitcoin exchange-traded funds.

On Dec. 18, 2017, the launch of a Bitcoin futures product by the Chicago Mercantile Exchange ended a strong bull run and marked the start of a multi-year bear market. A similar crash of a lesser magnitude was seen after the Coinbase IPO (COIN) on April 4, 2021. This suggests that the old adage “buy the rumor, sell the news” could be repeated in the real world once again.

However, several analysts are unperturbed by the pullback. Crypto market intelligence firm Decentrader said that “there are zero instances of Bitcoin breaking significant previous all-time highs and failing to continue higher.” They anticipate the Bitcoin bull run to continue with a possible target objective at $72,000 and then $88,000.

But not that every metric is flashing bullish at the moment. Data from Bybt shows that Bitcoin reserves rose to 400,000 Bitcoin on Binance, suggesting that traders may be looking at closing their positions.

Could Bitcoin stage a strong comeback that boosts sentiment in the crypto sector? Let’s analyze the charts of the top 5 cryptocurrencies that could remain in focus for the next few days.