After the recent correction, Bitcoin 

BTC

$22,720

 will need aggressive inflows to absorb the possible selling from the short-term traders and momentum players as the price nears $40,000. In the past few months, Grayscale Investments has been one of the major entities responsible for the pickup in demand.

However, JPMorgan Chase analysts pointed out in a recent note that Grayscale inflows “appear to have peaked” on a four-week rolling average basis. Without a strong tailwind from the institutional investors, many analysts believe Bitcoin may not break above $40,000.

The failure to resume the uptrend does not mean Bitcoin will plunge and enter a bear market similar to the one seen in 2018. Lower levels continue to attract investments from institutions, and the latest to disclose a position in Bitcoin is Nevada-based crypto mining firm Marathon Patent Group. The company has purchased $150 million worth of Bitcoin at an average price of $31,168.

Even if Bitcoin remains range-bound for the next few days, select altcoins could continue to move toward new highs.

Let’s study the charts of the top 10 cryptocurrencies to spot the ones that are in a bull trend.