Monday, January 30, 2023

Price analysis 6/20: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX


The crypto markets have been in a strong bear phase for the previous a number of months however JPMorgan Chase analysts anticipate that to alter and so they projected significant upside from the current levels. The analysts cited the rising share of all stablecoins within the whole crypto marketplace for their bullish outlook.

Unperturbed by the present fall, retail merchants have been including Bitcoin (BTC) to their portfolios. The number of wallet addresses holding one Bitcoin surged by 13,091 to a file excessive of 865,254. Similarly, the variety of addresses holding about 0.1 Bitcoin has additionally witnessed a pointy rise prior to now 10 days, based on information from Glassnode.

Daily cryptocurrency market efficiency. Source: Coin360

Bitcoin’s sharp restoration from the June 18 fall reveals strong buying at lower levels and based on Whalemap, this has led to the formation of a brand new “whale level” which can act as a short-term assist.

Could the restoration in Bitcoin and main altcoins proceed within the close to time period? Let’s research the charts of the top-10 cryptocurrencies to search out out.