The cryptocurrency market continues declining with the global market cap falling 3.8% in 24 hours, currently at $2.38 trillion. The latest market dip could be due to traders capitulating amid high fatigue. Miners have also begun selling their holdings as the price of mining one Bitcoin (BTC) surpassed $86,000 last week. BTC ETFs also began to see increased outflows over the last few days. All of these developments together could have triggered the market-wide sell-off.
With prices low, it could be a good opportunity for new investors to step into the crypto space. It could also be an opportunity for older investors to buy more assets. Let’s look at three crypto assets you could watch this week.
Top 3 cryptocurrencies to watch this week
Bitcoin:
BTC is the market leader and other assets follow its trajectory. BTC has fallen 3.2% in the last 24 hours, and over 6% in the last week. The current price level was tested in late April-early May.
Also Read: Cryptocurrency: Top 3 Coins To Buy During The Dip
According to crypto analyst Ali Charts, BTC’s price usually surpasses the cost of mining one coin. There is a possibility that BTC will breach the $86,000 level and hit a new all-time high soon.
Ethereum:
ETH is another cryptocurrency that could witness a price spike very soon. The asset is down 3.8% in the last 24 hours and by 5.5% over the previous week.
The US Securities and Exchange Commission recently dropped its investigation into ETH. It has also approved ETH ETFs, which may launch in early July. Both developments and BTC changing its trend could propel ETH to a new all-time high.
Shiba Inu:
Shiba Inu (SHIB) is a very popular cryptocurrency that has witnessed a significant price dip. SHIB is down 5.7% in 24 hours and over 16% in the previous week.
Also Read: Cryptocurrency: Top 3 Coins That Can Bring Generational Wealth
SHIB has a lot of potential for explosive growth. The price dip may present an opportunity for new investors to get into the project.