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

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The crypto market has been in a strong bearish phase over the past several months, but analysts at JPMorgan Chase expect a turnaround and have forecast significant growth from current levels. Analysts cited the increasing share of all stablecoins in the overall crypto market for their bullish outlook.

Retail traders are adding bitcoin (BTC) to their portfolios, regardless of the current fall. The number of wallet addresses holding one bitcoin rose by 13,091 to a record high of 865,254. Similarly, the number of addresses holding around 0.1 bitcoin has also seen a sharp increase in the past 10 days, according to data from Glassnode.

Daily cryptocurrency market performance. Source: Coin360

Bitcoin’s sharp recovery from the June 18 drop reflects strong buying at lower levels and, according to Whalemap, has formed a new “whale level” that could act as short-term support.

Can the recovery for bitcoin and major altcoins continue in the near term? Let’s study the chart of the top-10 cryptocurrencies to find out.