BTC Flashes First Weekly “Golden Cross” Symbol. Galaxy Fox Verges for 3 million dollars
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Bitcoin (BTC) has historically led market rallies, with altcoins riding on its coattails. Positive macro conditions for altcoins are generally when BTC makes slow and steady gains or moves sideways for long periods of time, giving alts room to run.
As BTC flashes its first ‘golden cross' signal on this week's time frame, markets are more optimistic and the current price correction may be reversed.
Ethereum recently outperformed the market with ETF-narrative support. This same narrative has sent BTC from $25,000 to $40,000 over the past several months. Meanwhile, a new memecoin project, Galaxy Fox (GFOX), is verging on $3 million in its ongoing presale, both GameFi and memecoins have gained popularity by being among the popular narratives driving the current bull market.
Bitcoin Golden Cross appeared
A golden cross is a bullish flash that occurs when the 50-day moving average crosses the 200-day moving average. In this case, BTC formed the first golden cross every week, as described by the famous trader Jelle on X.
Despite the recent correction – a common occurrence after Bitcoin's months-long, almost vertical – this pattern shows positive price action going forward. Sentiment is entirely positive in 2024, with half coming later this year, which is always ahead of a huge run. Added to this crypto-native phenomenon are macroeconomic conditions, and Powell predicts that prices will begin to decline this year.
Galaxy Fox Presale
Galaxy Fox raised nearly $3 million
Galaxy Fox's ability to raise nearly $3 million in several weeks was certainly influenced by the power of narratives. And this presale introduces a hybrid build that combines P2E and memecoin components.
GameFi is expected to be one of the biggest growth verticals of 2024, and there is currently a resurgence in P2E projects – a small sub-division within the GameFi umbrella. The game Galaxy Fox Runner features the classic game-to-earn cash incentive that rewards top players, and this part of the protocol is embedded right into the GameFi narrative.
The Tokinomics design combines the classic burning campaign and taxation systems often used by memecoins.
The protocol also features in-game stats updates, an NFT marketplace, real-world commodities, and NFTs that offer rewards. This broad market demand is another reason for users to participate, and the expected performance in small caps this year is huge.
Galaxy Fox Presale
Closing thoughts
The BTC Spot ETF has ushered in an era of long-term cash flow from institutional investors, and if Ethereum ETH is approved, the wealth effect could wash through DeFi, making it worthwhile to own one of the top ten cryptocurrencies.
Learn more about Galaxy Fox here: Galaxy Fox Presale | GFOX Telegram Community
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