by Rushali 
BTC was trading in a sideways range and spent the day trading session in a tight range bound between $32,000 and $34,000. It tried many times to cross the resistance line but every time it falls behind. Data from Cointelegraph Markets and TradingView show a price increase of 4.14% for the top cryptocurrency, which currently trades at $33,840.
Ki-Young Ju, the CEO of the cryptocurrency analysis firm CryptoQuant, has seen a potential bullish indicator that may indicate a price breakout in the near future for Bitcoin.
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According to Ju, more than 15,000 Bitcoin were recently withdrawn from Coinbase Pro with the outflows going “into custody wallets that only have in-going transactions,” indicating the purchases were likely “OTC deals from institutional investors.” Rallies have followed similar outflows in the past, and Ju sees this as a sign BTC will “protect $33,000 in the short-term.”
The financial market is still under pressure from the antics of wall street and helped initiate the recent pumps in the price of Dogecoin (DOGE) and now XRP.
After rallying 147% to trade at $0.76 overnight, XRP price corrected by 47%, and currently the altcoin is trying to retake the $0.40 level.
Wall Street has got a breather and recovered from the Jan 29 losses on Feb 1. The S&P 500, Dow, and NASDAQ have all benefited from the positive price action on Feb. 1 and closed the day up 1.61%, 0.76%, and 2.5% respectively.
The investors at wall street have focused on silver stalks and given it a bull run above $30, its highest price level since 2013.
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Defi related tokens continue to perform well as the battle between Uniswap and Sushiswap heats up and the top two DEXs see increased trading volume, along with sharp appreciation in the price of their native tokens.
The price of UNI is up 17% and trading at $20.44 while SUSHI is up 28% and trading at a price of $12.73.
Binance coin is the best performing coin in the last 24 hours.
