Bitcoin

Bitcoin is now up about 15% from a two-month low of $56,500 on May 1, data shows, as concerns about stagflation in the U.S. economy prompted a risk-on stance.

Bitcoin’s recovery produced a bullish weekly candle, with Bitcoin’s interest rate returning to “neutral” after turning negative late last week, reflecting mixed market sentiment.

Despite BTC’s recent surge above $60,000, Bitcoin’s MVRV momentum remains below its 90-day moving average, meaning this remains an ideal point for entry.

Altcoins had mixed trends yesterday

On the upside, Worldcoin (WLD), Ethena (ENA), dogwifhat (WIF), Solana (SOL), Injective (INJ), Jupiter (JUP), Arweave (AR), THORChain (RUNE), Render (RNDR), Kaspa (KAS)… recorded 3-8% profits.

On the contrary, Bonk (BONK), MultiversX (EGLD), Floki (FLOKI), Conflux (CFX), Optimism (OP), Akash Network (AKT), Dodecoin (DOGE), Flare (FLR), Core (CORE), Lido DAO (LDO)… lost 3-6% of their value.

After hitting $3,200 yesterday, Ethereum (ETH) has started to fall, closing the daily chart in the red, ending a four-day winning streak.

However, ETH is currently holding above the key psychological threshold of $3,000.

(Personal opinion, not a recommendation)

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