BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB

189
SHARES
1.5k
VIEWS


Bitcoin dropped 56.2% within the second quarter of 2022, in line with crypto analytics platform Coinglass. That makes it Bitcoin’s worst quarter for the reason that third quarter of 2011 when BTC worth fell by 67%. A big a part of the injury was performed within the month of June when Bitcoin plunged 37%, the worst month-to-month drawdown since September 2011.

It’s not all gloom and doom for crypto buyers. On June 29, JPMorgan strategist Nikolaos Panigirtzoglou stated that the “Web Leverage metric” means that crypto’s deleveraging may be on its last legs. The eagerness of crypto firms with stronger stability sheets to bail out crypto companies in misery can also be a constructive signal.

Each day cryptocurrency market efficiency. Supply: Coin360

One other constructive view on Bitcoin got here from Deutsche Financial institution analysts. In a current report, the strategists stated that the S&P 500 might get better misplaced floor and rally to the degrees seen in January. This might profit Bitcoin as a consequence of its shut correlation with the S&P 500.

Might the downtrend resume or will decrease ranges appeal to consumers? Let’s research the charts of the top-10 cryptocurrencies to seek out out.