Price analysis 6/25: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, BCH, LTC
Cointelegraph
Published Jun 25, 2021 02:05PM ET
Updated Jun 25, 2021 03:40PM ET
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 (NYSE:JPM) 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.
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Written By: Cointelegraph
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