The Bitcoin Price Stabilizes, but Can It Recover?
The Bitcoin price has stabilized over the weekend after a sharp crash from $29k to $25.4k. It has since recovered slightly, hovering around the $26k mark. However, the price has been trading sideways and has not shown significant upward movement.
- Bitcoin price dropped from $29k to $25.4k and has since stabilized around $26k.
- Bitcoin has been trading sideways and testing the $26k support level.
- Analysts expect a rebound and hope for a recovery beyond previous highs.
- Bitcoin’s current price represents an 11% drop compared to last week.
- The price fluctuates between $26k as support and $26.25k as resistance.
Despite the recent drop, Bitcoin is still up 22% compared to last year. Some analysts believe this price drop is a correction and that Bitcoin is on track with its market structure. Others suggest that a bull run may not happen until next year’s halving.
Ordinals Make Up Majority of Bitcoin Transactions
Surprisingly, the majority of Bitcoin transactions over the weekend were related to Ordinals, despite claims that Ordinals were dead. Out of 530,788 transactions, around 450,785 were Ordinals-related, accounting for 84.9% of the activity on the Bitcoin blockchain.
- Out of 530,788 Bitcoin transactions, 450,785 were Ordinals-related.
- Ordinals represented the primary use case of the Bitcoin blockchain over the weekend.
- The hype around Ordinals has died down, but it remains a significant part of Bitcoin’s transaction activity.
Wall Street Memes Raises $26 Million in Presale
Wall Street Memes (WSM) has raised a total of $26 million in its presale, with increased interest as the end of the presale approaches. The project has seen a surge in investment, and the token’s price is currently $0.0337. Buyers can purchase WSM using card, ETH, USDT, or BNB.
- Wall Street Memes has raised $26 million in its presale.
- Increased interest as the end of the presale approaches.
- The token’s price is $0.0337, and it can be purchased with multiple cryptocurrencies.
Hot Take: Bitcoin’s Recovery and the Rise of Ordinals
While the Bitcoin price has stabilized, its future recovery remains uncertain. Many traders expect a rebound, but the timing and extent of the recovery are unknown. Additionally, the dominance of Ordinals in Bitcoin transactions over the weekend challenges the notion that Ordinals are dead. The crypto market continues to surprise and defy expectations, making it an exciting and unpredictable space for investors and enthusiasts.
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