Crypto Weekly (May 23 – May 26): Bitcoin Trades Sideways, Altcoins Surge

Crypto Market Last Week

The last week of May witnessed a marked sideways movement in Bitcoin, with its price fluctuating around $66,700 – $70,700. Throughout the week, the market lacked significant news events, making Bitcoin’s sideways movement and waiting for new information quite logical. Thanks to this stability in Bitcoin, many altcoins have started to rise sharply again, capitalizing on Bitcoin’s consolidation period.

BTC Chart

Notably, among the altcoins, Notcoin (NOT) has stood out with an impressive growth, increasing sixfold from its recent bottom. This growth in Notcoin indicates the growing interest of investors in altcoins, especially when Bitcoin remains stable without much volatility.

The strong recovery of Notcoin not only reflects market optimism but also demonstrates the potential for attracting investment into promising altcoin projects in the continuously evolving cryptocurrency market. This could also open new opportunities for investors seeking profits during Bitcoin’s sideways phase, as the market awaits significant news.

Top 10 Gainers of the Week

Source: Coinmarketcap

Top 10 Losers of the Week

Source: Coinmarketcap

Important News Last Week

• Telegram Plans to Launch Internal Cryptocurrency Stars
• Market Plummets as Mt.Gox Moves $2.9 Billion Worth of Bitcoin

Token Unlocks This Week

This week, several projects are unlocking large quantities of tokens, such as:

• GAL: Unlocking 115.5M GAL (worth $7.4M)
• HFT: Unlocking 406M HFT (worth $4.04M)

Source: token.unlock

Macro News This Week

This week, there are some important macroeconomic events to watch:

• Wednesday (June 5) at 12:15 PM (UTC): ADP Non-Farm Employment Change report. This report reflects changes in employment in non-agricultural sectors, indicating the state of US employment. If the actual figure is higher than the forecast, it will positively impact the USD and vice versa.
• Friday (June 7) at 12:30 PM (UTC): May Unemployment Rate report. If the actual figure is higher than the forecast, it will negatively impact the USD and vice versa.

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