The cryptocurrency market lost a bit of steam over the last few days. Bitcoin (BTC) hit an all-time high of $111,814 on May 22. The original crypto has since fallen to the $109,000 price level. The global crypto market cap has dipped 0.5% in the last 24 hours to $3.57 trillion.
Also Read: Bitcoin Falls as President Trump Unveils New iPhone & EU Tariffs
Cryptocurrencies Hold Steady As Consolidation Hits
The cryptocurrency market seems to be moving in a sideways trajectory right now. The recent rally has slowed down considerably. Major assets show signs of a consolidation.
There have been some bullish developments in the cryptocurrency sector that could push the markets over the next week. Bitcoin maximalist and MicroStrategy founder Michael Saylor hinted at buying more BTC. Saylor’s MicroStrategy is among the biggest BTC holders in the world.
The Genius stablecoin regulating act has moved forward to the Senate. If enacted, the bill will present substantial clarity on the stablecoin frontier in the US. The crypto industry may benefit greatly from the Genius bill.
Also Read: Grok Predicts What Genius Act Means For The Cryptocurrency Market
Top 3 Cryptocurrencies Projected To Rally This Week
1. Bitcoin (BTC):
BTC is the market leader. Other cryptocurrencies will likely not move unless BTC does. CoinCodex anticipates BTC to rise to a new all-time high of $134,097 on May 31. BTC’s price will rally by 22.25% if it hits the $134,097 mark.
2. Binance Coin (BNB):
Binance’s BNB token is another cryptocurrency that could rally over this week. CoinCodex anticipates the cryptocurrency to trade at $726.75 on May 30. BNB will face a 7.8% rally if it hits the $726.75 target.
3. Polkadot (DOT):
Also Read: Cryptocurrency: 3 Coins Working In The Shadows To Deliver Future Returns
DOT is another cryptocurrency that could experience a rally over this week. CoinCodex estimates the asset to trade at $5.06 on May 31. DOT’s price will face a 10.7% price spike if the asset hits $5.06.
