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Price analysis 6/10: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

Published 06/10/2022, 02:34 PM
Updated 06/11/2022, 08:00 PM
Price analysis 6/10: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 6/10: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

The United States equities markets tumbled on June 10 after the Consumer Price Index (CPI) report showed inflation soaring 8.6% from a year ago, the highest increase since 1981. The latest figures show that talks of inflation having peaked were premature and according to Bloomberg, investors are pricing in the key interest rate of 3% by the end of the year.

Continuing its tight correlation with the S&P 500, Bitcoin (BTC) dipped below $30,000 on June 10. Analysts are still divided about the near-term price action but Fundstrat co-founder Tom Lee said in an interview with CNBC that Bitcoin may have already bottomed. However, Lee seems to have toned down his expectations as he said that Bitcoin could “remain flat for the year, possibly up.”

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
XRP/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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