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Top 3 coins to watch this weekend
The cryptocurrency market remains stagnant. Bitcoin (BTC) fell below $65,000 for the first time since mid-May. The current drop is likely due to the capitulation of BTC miners, as the cost of mining one BTC surpassed the $86,000 level this week. Miners have been selling some of their holdings to book profits. Markets are also suffering from a lack of new money.
As inflation cools, investor sentiment may improve given expectations of a cut in interest rates. This could lead to more investment in risky assets such as cryptocurrencies.
Top 3 cryptocurrencies to keep an eye on this weekend
Bitcoin
The price of Bitcoin has seen a steady decline since the beginning of this month. BTC was trading at over $71,000 on June 6 and has since fallen below $65,000. As mentioned above, miners selling their BTC holdings and a lack of new capital could be behind BTC’s current downtrend.
Also Read: Solana (SOL) Weekend Price Prediction: Will $140 Recover?
BTC is the market leader and any move it makes will likely spread to other cryptocurrencies.
Ethereum
Ethereum (ETH) witnessed a brief recovery this week in the wake of the Securities and Exchange Commission falling down your investigation into the project. The asset’s price once again entered the red, falling 7.8% on the 14-day chart and 6.4% compared to the previous month.
Also read: Cryptocurrency: top 3 coins to buy during the fall
The Securities and Exchange Commission has also approved ETH ETFs (Exchange Traded Funds), which could launch as early as July. The ETF and SEC’s abandonment of the investigation could trigger a huge rally for ETH. It is possible that the recovery has been delayed and will begin when market participants are more confident.
Pepê
Since its launch in April 2023, Pepe has performed incredibly well. It is one of the best-performing crypto assets of the past year. Pepe has achieved several historic records; the most recent occurred on May 27, 2024.
The frog-themed cryptocurrency may soon recover. The drop in prices could be a good point for new investors to enter.