Price analysis 6/25: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, BCH, LTC

Bitcoin (BTC) price remains jittery and throughout this week, every relief rally is being sold into. This is a classic bear market reaction and may not end in a hurry. However, the current price action should not worry investors because the longer the time spent in a bottoming formation, the stronger the base for the next leg of the up-move.

In a recent note to investors, JPMorgan said that Bitcoin’s fair value may remain between $23,000 and $35,000 over the medium term. The bank pointed out that outflows from crypto Bitcoin funds since the fall on May 19, show a lack of demand from institutional investors. Another reason that may be capping Bitcoin’s price is the massive unlocking of Bitcoin from the Grayscale Bitcoin Trust fund at the end of the six-month lock-up period.

Daily cryptocurrency market performance. Source: Coin360

None of the events of the past few days have changed the long-term view of Bitcoin. Jason Urban, the co-head of trading at Galaxy Digital said that Bitcoin may “see something north of $70,000 by the end of the year.”

Although not a game-changer, the Purpose Bitcoin exchange-traded fund has seen an average inflow of 86.15 Bitcoin between May 15 and June 24, according to Glassnode data. This has boosted the ETF’s assets under management to 21,114 BTC. This shows that smart investors are gradually chipping away instead of trying to time the bottom.

Let’s study the charts of the top-10 cryptocurrencies to determine the critical support levels that could be touched if the downtrend continues.