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Price analysis 6/24: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

Published 06/24/2022, 02:44 PM
Updated 06/24/2022, 04:20 PM
Price analysis 6/24: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
DX
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BTC/USD
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The United States equity markets and the cryptocurrency space are witnessing a relief rally this week. Supporting the rise in risky assets is the U.S. dollar index (DXY), which retreated from its multi-year high. Generally, cryptocurrencies move inverse to the price of the U.S. dollar, but this week's bounce does not necessarily mean that bulls' grip over the market has come to an end.

Citing on-chain data, CryptoQuant senior analyst Julio Moreno, said that Bitcoin (BTC) miners may have already capitulated. Historical data suggests that miner capitulation usually precedes market bottoms.

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
SHIB/USDT daily chart. Source: TradingView
LEO/USD daily chart. Source: TradingView

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