Cryptocurrency industry in the last 24 hours Bitcoin It started to recover as its price rose above $66,000. This recovery has increased the total crypto market cap by 6% to $2.51 trillion today. This resulted in more than $113 million in short liquidations.
GameStop The recent surge in meme stocks, led by (GME), has triggered a new uptrend. Additionally, the altcoin rally in 2021 was triggered by a similar event in which meme stocks surged nearly 100x.
Altcoin Season is on the Horizon
Last year, Bitcoin price largely drove the cryptocurrency market. A few specific altcoins have surpassed others in this regard. Bitcoin’s market dominance has increased further recently, affecting altcoins. Interestingly, the ETH/BTC pair has continued to decline over longer time frames, despite growing predictions that the market could turn around.
In the end, Bitcoin investors profit altcoinThey will shift it to . This will trigger the expected “altcoin season”.
Polygon (MATIC) Ready for Ascension
$MATIC #polygon looks Ready for 30-40% Recovery Rally..📈 pic.twitter.com/hI3Yi1nogJ
— Captain Faibik (@CryptoFaibik) May 16, 2024
NEWS CONTINUES BELOW
A top-tier Ethereum (ETH)-based scaling solution with nearly $1 billion in total value locked (TVL) after being stuck in a correction mode for the past few months polygon (MATIC) showed early signs of an uptrend.
To the famous analyst Captain Faibik according toMATIC’s price is on the verge of a jump of at least 40 percent towards 95 cents in the coming weeks.
Moreover, MATIC price against the US Dollar has formed a solid support level at around 64 cents along with an upward divergence in the daily Relative Strength Index (RSI).
