Bitcoin’s recovery may trigger buying in these 4 altcoins
While most coins are reeling under pressure, Bitcoin and select altcoins such as ADA, ATOM, LDO, and ARB are showing promise. The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin (BTC) is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment. A silver lining is Bitcoin’s solid bounce on May 12. Several analysts anticipate Bitcoin to start a recovery but monitoring resource Material Indicators sounded cautious. In a recent analysis, they said that the lack of a strong bid from the whales at lower levels could be a concerning sign. They believe that the bullish perspective will invalidate if Bitcoin sustains below the 200-week moving average. Crypto market data daily view. Source: Coin360 Over the next few days, the progress on the debt ceiling talks between leaders from Congress and the White House is expected to take center stage. The uncertainty and risks ...