Price analysis 6/8: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB


According to on-chain analytics resource Whalemap, Bitcoin (BTC) continues to trade in a range with local tops and bottoms with increased whale activity in the region.

Range-bound action in bitcoin has kept analysts guessing and some expect the consolidation to continue for some more time, while others expect another leg lower.

A June 6 Glassnode report states that the total losses from long-term holders represent over 0.006% of the market capitalization on May 29. This is compared to a peak of 0.015% of market capitalization during the 2018 to 2019 bears. Market.

Daily cryptocurrency market performance. Source: Coin360

Along with the quantum of losses, investors may also have to be prepared for longer periods of lower prices. For long-term investors, the current loss period is only one month old, while the previous loss lasted almost a year.

Can the sluggish trading action continue in Bitcoin and other major altcoins? Let’s study the chart of the top-10 cryptocurrencies to find out.