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In the near future, there will be a bullish wave that will cause altcoins to rebound.
The upward price movement of Bitcoin will definitely affect altcoins.
At the weekend's conclusion, there will be a significant macroeconomic event to keep an eye on: nonfarm payrolls.
Potentially reviving in the run-up to Apple's announcement next week are AI cryptocurrencies.
The stabilization of Bitcoin's (BTC) price and the illogical directional bias in the movements of other cryptocurrencies last week were both disappointing. The majority of cryptocurrencies either trended steadily or fell, while a few had sudden, bullish movements.
Bitcoin might lead to the "destruction of fiat currency" (read more about it here).
The week will be defined by Bitcoin
The whole cryptocurrency market might benefit from this optimistic outlook, as Bitcoin is now up 1.26 percent in the Asian session. The $63,000 support level, nevertheless, is crucial, as mentioned in an earlier post. The greatest volume traded price level has moved from $63,000 to $67,700, making it a crucial support level, as a result of the consolidation seen over the previous two weeks.
So, as altcoins follow Bitcoin's positive lead, they may soon feel relief.
Week in cryptocurrency and macroeconomics
About €3.5 million was spent on Dusk (DUSK). Offering of Bonds
Minecoin (MINA) Protocol Berkeley Update
The V17 Upgrade for Cosmos (ATOM) on June 7
Altcoins Spotlight: Nonfarm Payrolls (NFP) @ 12:30 PM GMT
It is possible that DUSK, MINA, and ATOM may see more volatility and liquidity as a result of the forthcoming events.
Along with these alternative cryptocurrencies, Fetch.ai (FET) and Render (RNDR) also have significant events coming up next week, which might lead to a preemptive rise.
Arweave (AR) is no different; this can cause a shift in Filecoin, its modern storage token sector (FIL).
Also, Gala and The Sandbox could be prompted to take action by the forthcoming Chiliz (CHZ) event, which is known to shake up the gaming industry.
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