Price analysis 5/28: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, ICP, UNI, BCH

Earlier this week billionaire investor Carl Icahn’s told Bloomberg that he is considering entering crypto in a big way but this hardly made any difference to crypto prices. This is just another hint that the underlying sentiment is bearish and that crypto markets are not reacting positively to favorable news.

However, this does not mean that the bulls have stopped buying. While speaking to Cointelegraph, S2F Capital managing partner and chief investment officer Micah Spruill said that on-chain data shows whales, owning between 1,000 and 10,000 (BTC), and retail traders holding between 0.1 and 1 Bitcoin, are accumulating at lower levels.

Daily cryptocurrency market performance. Source: Coin360