Quick Weekly Overview
Today, May 27:
-Memorial Day (stock and bond markets are closed)
-IEEE International Conference on blockchain and Cryptocurrency (ICBC 2024)
Wednesday, May 29:
-Consensus 2024, from May 29-31
Friday, May 31:
-Core PCE
Analysis
Today, the stock market is closed because of Memorial Day. Crypto never closes.
This week is not very interesting events-wise, but we could still see some interesting moves. After the ETF approval, ETH continues to outperform the rest of the market. ETH/BTC is very strong, and many ALTS/BTC appear to be forming a local bottom. If BTC stays above $60k, then we should see altcoins giving very good returns, which was the main plan from weeks ago. Memecoins are leading and other interesting sectors should be: AI, RWA, Ehereum ecosystem, Solana ecosystem.
Conclusion
ETH and SOL are looking very strong and compared to the rest of the market, especially to BTC. Altcoins also look good individually and against Bitcoin, so in my opinion, this is a good scenario for a potential altcoin run.