The three major U.S. stock indices fluctuated. The U.S. spot Bitcoin ETF reduced a total of 2145 Bitcoins on June 25th. In July, Mentougou will also start reducing BTC and BCH. This may be the key factor causing the decline in Bitcoin. With increased supply and decreased demand, the real test will come in July. Bitcoin may experience a short-term rebound, but the strength of the rebound is not great, and there may be a second bottoming. If it does not break $58,300, successful bottoming can be actively purchased. If it breaks, pay attention to the support at $56,500-$67,000 and $53,000-$55,000 below. Short-term stability requires at least $63,000, and medium-term stability requires a return to $65,000-$66,000.
The chairman of the U.S. SEC said that the approval process for the spot Ethereum ETF is going smoothly. Personally, it is believed that it is necessary to reduce Bitcoin allocation and increase Ethereum allocation. The key support below is $3150-$3350. Short-term stability requires at least $3450, and medium-term stability requires a return to at least $3650. It is expected to fluctuate with Bitcoin, but the leader of the next wave of the market may change to Ethereum.
Looking at the performance of altcoins yesterday, it is believed that holding low is a long-term choice. There are only two views on altcoins: one is that when Bitcoin stabilizes, altcoins will soar, and the other is to focus on three sectors: artificial intelligence, Ethereum ecosystem, and meme sector.
Currently worth paying attention to potential altcoins
AGIX
The artificial intelligence token SingularityNET (AGIX) soared by 20.5% in the past 24 hours, reaching $0.68 at the time of writing. Its market value is close to $8.9 billion, with a daily trading volume of $148 million.
Technical analysis shows that AGIX’s momentum is strong and continues to rise. The $0.60 support level has been confirmed, increasing confidence in the token’s trend. Predictions indicate that AGIX may reach the $1.40 target sooner than expected.
FET and AGIX’s recent price increases highlight the growing interest in blockchain projects focused on AI. Over the past year, Fetch.ai (FET) has performed exceptionally well, with a 714% price increase. Another reason for FET’s excellent performance is speculation about potential cooperation with Injective (INJ).
INJ
Injective has established partnerships with Noble and Clusters. The integration with Clustersxyz helps achieve unified identity between Ethereum, Solana, and Injective. Despite being in the early stages, the token has quickly attracted attention in the cryptocurrency market. The successful rounds of financing have highlighted its expanding importance in the DeFi space.
ANKR
Ankr Network aims to simplify web3 development and provides blockchain-based cross-chain infrastructure. The positive outlook for Ankr is reflected in the increased bullish sentiment, with the Greed Index rising to 81, indicating strong investor and trader confidence. The overall market recovery has also led to increased trading volume. Currently, ANKR’s trading price is $0.032, with a market value of $449 million and a total locked value (TVL) of over $82 million. These indicators indicate a strong bullish trend.
