Bitcoin (BTC) lastly broke above the $50,500 resistance and Ether (ETH) has risen above the $4,000 mark. This suggests that there’s rising curiosity in cryptocurrencies and several other legacy finance firms are initiating steps to faucet into this rising demand.

One of the world’s largest impartial asset managers, Franklin Templeton, has posted recent job purposes for medium to senior-level positions in crypto buying and selling and analysis, based on Linkedin job postings.

Meanwhile, in Japan, monetary conglomerate SBI Holdings is planning to arrange one of many first crypto funds within the nation by the top of November. Tomoya Asakura, the director and senior managing government officer at SBI, mentioned that the launch of a second fund will likely be explored relying on the success of the primary one.

Daily cryptocurrency market efficiency. Source: Coin360

While crypto merchants are cheering the current run-up in a number of altcoins, JPMorgan analysts have warned their purchasers that the altcoin rally and nonfungible tokens (NFT) are getting frothy.

The analysts mentioned that the altcoins share of the crypto market buying and selling surged from 22% at first of August, to 33%, which is excessive in comparison with historic requirements. They consider the reason being “froth and retail investor ‘mania’ relatively than a mirrored image of a structural uptrend.”

Could Bitcoin maintain above $50,500 and resume its uptrend or will altcoins stay in focus? Let’s examine the charts of the top-10 cryptocurrencies to seek out out.