– BTC, ETH, and the wider crypto market remain stable after US inflation data release.
– BTC is trading around $29,500 and ETH at $1,850, with total market capitalization unchanged at $1.136 trillion.
– Blue chip cryptos continue to trade within established ranges for nearly two months.
– Traders are waiting for updates on Bitcoin ETF applications and US regulation.
– The improving inflation situation implies the end of the Fed’s tightening cycle, potentially benefiting the crypto market.
– Traders are advised to buy dips rather than sell rallies.
– Some traders are turning to higher volatility shitcoins/meme coins for quicker profits.
– StrongX (STRONGX) has experienced significant gains, but caution is advised due to its high volatility and low liquidity.
– Messier 87 (M87) is also seeing gains, but there are six alerts identified by DEXTools’ security audit, indicating potential risks.
– 0x1 (0x1) is experiencing a pump, but it also has high transaction taxes.
– Wall Street Memes (WSM) and XRP20 are alternative projects with better value propositions and long-term outlooks.
The cryptocurrency market, including Bitcoin (BTC) and Ether (ETH), remains relatively unaffected by the release of US inflation data. The market’s total capitalization stands at $1.136 trillion, and major cryptocurrencies are trading within the same price ranges they have been for the past two months. Traders are eagerly awaiting updates on themes such as spot Bitcoin ETF applications and US regulation. With improving inflation and the expectation of spot Bitcoin ETF approvals, risks in the market appear to be tilted to the upside. Traders may find more opportunities in the higher volatility of the shitcoin/meme coin market, but caution is advised due to low liquidity and high risks. Some of the top-performing coins on Friday, according to DEXTools, include StrongX (STRONGX), Messier 87 (M87), and 0x1 (0x1). These coins have seen significant price increases in the last 24 hours, but investors should exercise caution as they may not hold value in the long term. For investors looking for better alternatives, Wall Street Memes (WSM) and XRP20 are recommended. These projects have generated significant interest and support from the crypto community and offer a better value proposition and long-term outlook. However, it is important to note that investing in cryptocurrencies carries a high level of risk.
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