Weekly Crypto Preview: These Are The Top 5 Coins


This
week
in
crypto,
the
market
is
poised
at
a
crucial
juncture
with
several
significant
developments
on
the
horizon.
These
are
the
top
5
cryptocurrencies
to
keep
an
eye
on
in
the
upcoming
days.

#1
Bitcoin:
Testing
Critical
Price
Levels

Bitcoin’s
recent
descent
below
the
$61,000
mark
has
led
to
a
wave
of
fear
and
uncertainties.
The
cryptocurrency
is
now
at
what
is
known
as
the
golden
pocket,
a
critical
Fibonacci
retracement
level
that
often
indicates
significant
market
reactions.

How To Get Free Crypto  

Daan
Crypto
Trades
(@DaanCrypto)
highlighted
the
importance
of
this
level,
stating,
“Bitcoin
arrived
at
the
golden
pocket
Fibonacci
retracement
level.
If
there’s
bulls
left
that
want
to
make
this
into
a
higher
low
then
this
is
the
spot.
A
bounce
should
lead
to
a
mid-range
retest
($66,092),
where
failing
to
do
so
likely
results
in
a
range
low
retest
($59,095).
Level
by
level.”

Bitcoin
price
analysis
|
Source:
X

@DaanCrypto

James
Check
(@Checkmatey),
a
noted
on-chain
analyst,
further
contextualizes
the
current

market
dynamics,
pointing
out
that
the
Bitcoin
Sell-side
Risk
Ratio
has
peaked,
indicating
a
potential
turning
point:
“The
Bitcoin
Sell-side
Risk
Ratio
has
reached
levels
signaling
it
is
time
for
the
market
to
move.
All
the
profits
that
were
going
to
be
taken,
have
been.
Same
for
losses.
The
market
needs
to
find
a
new
price
range
to
stoke
the
fire
of
fear,
greed,
panic,
or
euphoria.”
This
suggests
that
Bitcoin
might
soon
enter
a
new
phase
of
price
discovery,
influenced
by
underlying
market
sentiments.

Bitcoin
short-term
holder
sell-side
risk
ratio
|
Source:
X


@_Checkmatey_

Additionally,
prominent
crypto
trader
Wolf
(@IamCryptoWolf)
delivered
another
reason
to
be
optimistic
about
Bitcoin’s
recovery,
predicting
a
bounce
from
current
support
levels
toward
all-time
highs:
“As
expected,
BTC
has
reached
the
$62k
mark.
Market
sentiment
has
now
turned
extremely
bearish,
just
as
I
predicted.
Who
would
have
thought
this
10
days
ago,
huh?”

BTC
price
prediction
|
Source:
X

@IamCryptoWolf

#2
Ethereum:
Exchange-Traded
Funds
On
The
Horizon

The
push
for
Ethereum-based
exchange-traded
funds
(ETFs)
in
the
United
States
has
gathered
momentum
with
key
players
like
VanEck,
BlackRock,
Grayscale,
and
Invesco
Galaxy
Digital
revising
their
S-1
proposals
to
the
SEC
last
Friday,
June
21.
VanEck
has
notably
set
a
competitive
management
fee
of
0.20%,
closely
rivaling
Franklin
Templeton’s
0.19%.
This
competitive
pricing
strategy
could
exert
pressure
on
other
fund
managers,
including
BlackRock,
to
maintain
or
lower
their
fees
to
remain
competitive.

Coinbase Banner  

The
approval
of
the
S-1
forms
marks
a
critical
final
step
before
the
funds
are
ready
to
launch.
Balchunas

forecasts
that
these
funds
will
make
their
debut
in
early
July,
coinciding
with
the
week
leading
up
to
the
US
Independence
Day
holiday
on
July
4.

#3
Blast:
Ethereum
Layer-2
Scaling
Solution
And
Token
Airdrop

Blast,
emerging
as
a
significant
Ethereum
layer-2
scaling
solution,
is
set
to
enhance
its
market
presence
with
the
launch
of
its
token
and
a
comprehensive
airdrop
on
June
26.
The
founder
of
NFT
marketplace
Blur,
who
also
spearheads
Blast,
has
designed
an
innovative
reward
system
where
Blast
Points
and
Blast
Gold
are
allocated
to
users
and
developers
within
the
ecosystem.

The
distribution
strategy
for
the
airdrop
is
particularly
noteworthy.
Half
of
the
token
airdrop
will
be
allotted
to
developers
through
Blast
Gold.
The
other
half
will
be
distributed
to
early
users.
This
approach
aims
to
balance
the
incentives
between
developers
who
enhance
the
platform
and
users
who
contribute
to
its
ecosystem
through
engagement
and
transactions.

“Dapps
must
distribute
all
Gold
and
Points
to
users
by
June
25,
8am
ET
in
order
for
it
to
be
counted.

If
you
are
a
User
and
your
EOA
has
Points
or
Gold,
you
must
have
signed
into
your
Blast
dashboard
with
that
EOA
at
least
once
(either
by
receiving
an
invite
or
linking
it
to
an
existing
account)
in
order
for
it
to
be
included
in
the
airdrop
calculations,”
the
Blast
team

FreeBitcoin Banner  

announced
a
few
days
ago.

#4
TRUMP
And
MAGA:
Crypto
Volatility
Amid
Political
Debates

The
upcoming
US
presidential
debate
on
June
27
between
Joe
Biden
and
Donald
Trump
is
poised
to
inject
volatility
into
politically-related
memecoins
such
as

TRUMP
(MAGA)
and
Solana-based
Jeo
Boden
(BODEN).

The
90-minute
debate,
hosted
by
CNN’s
Jake
Tapper
and
Dana
Bash,
will
occur
without
a
studio
audience
at
the
request
of
the
Biden
team,
deviating
from
traditional
debate
formats.
To
prevent
disruptions,
Biden’s
team
has
secured
an
agreement
to
mute
the
candidates’
microphones
when
it
is
not
their
turn
to
speak,
a
measure
to
which
Trump’s
campaign
has
consented.

The
value
of
politifi
memecoins,
TRUMP
and
MAGA,
could
experience
significant
fluctuations
based
on
the
debate’s
outcome.

#5
Litecoin:
Anticipation
Builds
for
the
Litecoin
Summit
2024

The
Litecoin
community
is
looking
forward
to
the
Litecoin
Summit
2024,
scheduled
for
July
24-25
in
Nashville,
Tennessee.
The
summit’s
agenda
is
packed
with
sessions
that
will
delve
into
the
latest
developments
in
Litecoin’s
technology,
regulatory
issues,
and
market
dynamics.

One
of
the
most
anticipated

updates
at
the
summit
will
be
on
the
MimbleWimble
Extension
Blocks
(MWEB),
presented
by
developer
David
Burkett.
This
update
is
crucial
as
it
pertains
to
enhancements
in
privacy
and
scalability
for
Litecoin.
Charlie
Lee,
the
founder
of
LTC,
will
address
the
“State
of
the
Chain.”

At
press
time,
BTC
traded
at
$60,790.

BTC
price
falls
below
$61,000,
1-day
chart
|
Source:

BTCUSD
on
TradingView.com

Featured
image
created
with
DALL·E,
chart
from
TradingView.com

Go to Source
Author: Jake Simmons


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