Top Crypto Gainers Today on DEXScreener
Bitcoin (BTC) rallied past key support at $55,000 and sustained above this level today, even as the German government’s Bitcoin transfers continued to mount.
According to the latest data from crypto intelligence platform Arkham, Germany transferred 2,738.7 BTC, worth approximately $155.3 million, to exchanges, OTC services, and unlabelled addresses today.
More analysts are becoming hopeful about a possible price rebound. Others are still unsure and think it’s too early to be certain, however. Keith Alan, co-founder of Material Indicators, is one of the skeptics. He thinks Bitcoin may slide further before it hits rock bottom.
The Weekly close for Bitcoin was ugly.
There's a lot of chatter on CT about the bottom being in, but I'm not seeing any validated confirmation of that yet. A retest of support could give us the confirmation we are looking for, but I'm not confident $53.5k will hold.
I'm… pic.twitter.com/2QZDWkSdhL
— Keith Alan (@KAProductions) July 8, 2024
Ethereum (ETH) is below the $3,000 level, trading at $2,913, down 2.68% in the last hour. Meanwhile, Ripple (XRP) made a comeback above the $0.40 support, currently trading at $0.42. Pro-crypto attorney Fred Rispoli predicts a ruling in the SEC vs. Ripple lawsuit by the end of July, adding to the market’s speculative activities.
July 31, although I could see her doing July 13 to be poetic.
— Fred Rispoli (@freddyriz) July 2, 2024
Despite these market fluctuations, many traders turn to on-chain markets to invest in top crypto tokens despite the inherent market volatility. In addition, these markets come with significant risks despite their potential for high returns. Hundreds of tokens are issued daily, many of which are literally designed to scam investors.
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