Price analysis 6/22: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, SHIB

Price analysis 6/22: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, SHIB – Mail Bonus

Bitcoin (BTC) continues to face a tough battle near the $ 20,000 psychological level as bulls and bears try to maintain their dominance. The trading company QCP Capital said in its latest market distribution that financing interest rates in derivatives markets were stable and favorable conditions were disappearing.

Another ray of hope for the Bitcoin bulls is that Bitcoin miners may be giving up as a recent price drop has made some mining machines unprofitable. Data from Arcane Research shows that public Bitcoin mining companies that had sold only 30% of their mining from January to April this year had discarded 100% of their Bitcoin production in May. Some analysts believe that miners giving up was a bullish signal.

Daily performance of the cryptocurrency market. Source: Coin 360

However, one measure suggests that Bitcoin has not bottomed out. Historically, Bitcoin indicates a bottom when less than 50% of Bitcoin addresses remain profitable. Glassnode data as of June 20 show that 56.2% of Bitcoin addresses are in profit, which raises concerns about another leg.

Could Bitcoin and altcoins sustain the recovery or will bears lower prices? Let’s look at the charts of the top 10 cryptocurrencies to find out.