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Bitcoin started the week with a massive sell-off, reaching USD 110,530 and trading at 109,900.
But the charts for BTC and altcoins suggest a quick recovery could occur to reach the average trading range.
The sell-off of bitcoins is mainly attributed to large sales made by whales and not to a change in the BTC market structure.
Despite the strong market correction, Ether and BNB remain strong on the charts.
Bitcoin bulls are defending the support at USD 110,530, but bears are maintaining pressure.
CoinShares reported net outflows worth USD 1 billion from BTC exchange-traded products last week.
Investor interest seems to be shifting from BTC to Ether
