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Price analysis 6/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Published 06/01/2022, 02:44 PM
Updated 06/01/2022, 06:20 PM
Price analysis 6/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 6/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Bitcoin (BTC) has made a tentative start to the month of June, suggesting that bears have not gone into hibernation just yet. Although Bitcoin is trading nearly 55% off its all-time high of $69,000, whales and institutions remain cautious and have not jumped into the market with gusto, according to BlockTrends analyst Caue Oliveira.

According to CryptoQuant contributor Venturefounder, if Bitcoin repeats the historical patterns seen after the previous halving cycles, then a bottom may be formed between $14,000 and $21,000 in the next six months. Thereafter, Bitcoin may chop around the $28,000 to $40,000 range for a large part of the next year and be around $40,000 during the halving.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
AVAX/USDT daily chart. Source: TradingView
SHIB/USDT daily chart. Source: TradingView

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