The cryptocurrency market underwent a slight correction over the weekend, with the global market cap falling to $2.48 trillion. The correction could be due to high inflation numbers in the US and escalating global conflicts between Iran and Israel.
However, we may witness a market rebound, with Bitcoin’s (BTC) halving right around the corner. Let’s look at three crypto assets to watch this week.
Top 3 cryptocurrencies to watch this week
Bitcoin (BTC):
Bitcoin (BTC) is the current market leader, and other assets are following in its footsteps. BTC has fallen 6.2% in the weekly charts, and its price hovers just over $65k. However, BTC will undergo its next halving cycle later this month. Many consider halvings bullish as they reduce the supply of an asset. There is a possibility that BTC will rebound from its current slump and reclaim its all-time high of $73,737, which it attained in March of this year.
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Furthermore, if inflation in the US cools down, we may see a further price appreciation. The latest Iranian attack on Israel has further strained global economics. If the conflict comes to an end, the markets may recover faster.
Toncoin (TON):
While other assets faced a price correction, TON continued to rally. The cryptocurrency is up by 16.4% in the daily charts and nearly 31% in the weekly. TON has also overtaken Dogecoin (DOGE) as the 9th largest cryptocurrency by market cap.
Also Read: Top 3 US Stocks To Watch in April 2024
TON’s latest rally could be due to positive ecosystem news. The asset may continue to surge over the next few weeks, especially given BTC’s halving later this month.
dogwifhat (WIF):
WIF is another cryptocurrency that witnessed a massive rally in the last 24 hours. The popular memecoin is up by 14.3% in the daily charts and 20.2% over the previous month. However, the cryptocurrency is down by 17.8% in the weekly charts and over 30% in the 14 day charts.
According to CoinCodex, WIF will continue to rally over the next few weeks, hitting $5.48 on May 1, 2024.