๐ Alt season surprise?
Todayโs issue โคต๏ธ
1. ๐ Today in markets
2. ๐ Alt season surprise?
3. ๐ย Whatโs next in Crypto?
4. ๐ฎ Flooz Top Picks
๐ฅIs it too late?
We've seen a surge in the markets in the last 24 hours, and it looks like it could keep on climbing...
And this is where questions start to enter investors minds.
"Should I sell?"
"Should I buy?"
"Have I missed the chance?"
And it is normal, after all, it is money at stake, right? But let's just remember that we have been higher than we are right now.
This means there are still plenty of opportunities to enter the markets, with many altcoins still being lower than they were during the recent all-time high.
Now is there a reason for the sudden market rise?
Well... we did have improved and bullish data come in from CPI last week, and we have been on a road to recovery after the recent drop below $60k too.
There are many reasons why we could be seeing this, so let's deep dive into what might be happening ๐
๐ Today in markets
The markets are finally starting to move, as we head towards a new all-time high...
But will we continue up, or get a pullback first?
Let's see what the charts are saying ๐
Where do we even start with this? We have seen Bitcoin and the market explode with green candles exposed everywhere.
Firstly, the daily close was super bullish for Bitcoin as it looks to continue the uptrend and test new all-time highs. So, from a complete technical point, this is what we needed and we could see more strength continue as the breakout was strong.
However, we could see a potential small pullback before continuing up, but as long as we stay above the bullish support highlighted, we will see much higher prices, and there shouldn't be any concern unless that support is tested again.
As you can see, the predicted squiggle (the part at the end of the chart heading above the $74k mark), as we like to call it, was lined up almost perfectly, and this was from the analysis we released on Friday, and there is still room for that path to continue.
The trend line has fully broken out, which is incredibly bullish, and with ETF flows being the highest they have been in weeks, we may see a push to new all-time highs for Bitcoin and soon the rest of the market to follow, with Ethereum also seeing over a 20% rise in the last 24H...
We are now only less than 4% away from the previous all-time high, and if this breakout continues, we may even see a new all-time high before we see a drop, and if this does happen, we could see some Bitcoin dominance relief, allowing for alt coins to take over and start seeing much bigger gains.
As we look to come to the monthly close, this is certainly a bullish state and if it can hold or go even higher as we hit June, we could be about to see some more beautiful green candles form, and then the bull run will be truly under way.
However, we know the markets do their own thing sometimes, and no one can predict with 100% accuracy, so let's be ready and embrace the bull run with all possibilities.
๐ Alt season surprise?
Bitcoin has seen a huge bullish climb recently, moving above the $70k mark.
But there is another token taking the spotlight...
And it Ethereum.
However, this isn't a huge surprise as we know that the Ethereum ETF deadline is fast approaching, which may be the catalyst for this move, although with the entire market moving and Ethereum outperforming Bitcoin... are we about to see another scenario take place?
And yes... we are talking about a potential alt season!
Now before we get carried away, it is obvious still early, so we will not know for sure just yet.
But... seeing Ethereum outperform and other altcoins rally massively, including famous memecoins, Pepe and Doge, could we be setting up for a dream scenario?
Bitcoin is approaching a new all-time high and if it surpasses that and rallies above $80k, we could potentially see Bitcoin dominance relief before we truly see altcoins take over.
Again, while things are looking super bullish, we know the markets can also be surprising too, as we are currently seeing, so right now... let's take it step by step and see how it plays out.
But one thing is for sure... we are certainly moving into more exciting times and this bull run may be about to become explosive!
๐ Whatโs next in Crypto?
The latest market move has inspired many token categories to start moving, some more than others.
Although there are also bigger movers when the market turns the tides, and we are seeing it again with a few categories, which could signal some opportunities.
First up, and it is completely expected... we have memecoins.
Now, memecoins are always involved in a bull run, and when markets go up, we see memecoins rise due to one big reason. The unpredictability.
Investors look at the small price and see a good percentage increase and get FOMO so jump in.
"Oh, this could easily go to $1"
When in reality, if the price is sitting at $0.000001 and the market cap is already $500M, the chances of that happening are almost zero.
Memecoins are essentially hope coins for most and it is the reason we see them rise so quickly as they can be unpredictable, but they also signal hope and easy money for new investors.
So, if you are looking at an area to invest in, memecoins are always a good option as they will rise, the only question... is by how much?
Next, we have AI tokens.
This needs no explanation, as AI is on the rise, more users are getting involved every day, it is becoming better by the minute, and many projects are implementing AI in some kind of way.
Some of the top AI tokens have already started to move up, including $RNDR and as we move deeper into the bull run, we should expect many others to follow and do well.
So keep an eye out on the AI sector, as it is only just starting to heat up.
And lastly, we have gaming.
This is an area that is always expanding but the blockchain provides even more incentives to gamers, especially play-to-earn, where they can literally get paid to play their favourite blockchain games.
Now if that isn't cool, we don't know what is.
But overall, some brilliant games are being deployed onto the blockchain and it is attracting a lot of attention, especially in a dominated digital world.
As we venture further into the bull run, gaming will pick up more attention and will likely start to see some very big movers, including the likes of $GALA, $AXS, and $NAKA.
So buckle up frens, and keep an eye out because there will be projects that will hit new highs, and some that will blow investors minds completely.
Don't forget, we are helping you navigate this bull run the best we can, so make sure you tune into these each week to give you a better chance of getting ahead of the game and potentially altering your financial year!
๐ฎ Flooz Top Picks
Here are our three crypto picks of the week ๐
๐ First up on our list is $FLOKI
As one of the top memecoins in the crypto space, $FLOKI is leading for infrastructure and utility.
Not only are they increasing their marketing tactics constantly, but they are actively trying top add value even as a memecoin, which is quite unique.
Even though $FLOKI is in the top 100 already, there is much more room for this to climb and it is looking like one of the most bullish memecoins as the markets start to climb.
๐ Next up on the list, we have $ARKER
Arker is an online turn-based game with tradable assets which can be earned through the game, making this highly lucrative for gamers looking to earn while playing.
With gaming and incentivized playing starting to gain more attention on the blockchain, $ARKER is setting up as a project that meets this exact criteria.
Currently $ARKER sits at under $1M market cap and has a lot of room to move during the bull run, and it is one to keep an eye on if you're a gamer.
๐ Our last pick of the week is $GPU
The NodeAI platform is where complexity meets simplicity, providing a seamless interface for clients to tap into a global network of AI nodes.
This includes allowing users to lend their GPU power to the network in exchange for rewards, which with AI growing at incredible speeds right now, this could be a great earning opportunity.
$GPU is sitting at around a $137M market cap and has seen a rise in price of 27% in the last 24H, showing the demand for the project.
