Bitcoin fell below the $60,000 mark on June 24 for the first time since May 3. The market seemed to have entered the fear zone, with no capitulation in sight.
Around the $61,156 level, 84.38% of BTC investors are making a profit, compared to 14.31% making a loss. Some maximalists even believe that the bottom has been reached and that the king coin is about to rise.
Source: IntoTheBlock
According to AMBCrypto’s exclusive report for the month of June, Bitcoin’s upward journey may not be possible in the near term. BTC will find it difficult to break the psychological barrier of $70,000 in July. The report used various metrics and metrics-based observations to analyze the future trajectory of the king coin.
Memecoins are taking the lead
Interestingly, memecoin traders enjoyed a more lucrative June, compared to Bitcoin holders, seeing gains in most trading sessions. To understand their winning strategies, AMBCrypto conducted an exclusive global survey involving 7,259 memecoin investors. As expected, the research results were quite insightful.
More than half (53%) of traders take a distributed approach, buying small amounts of coins in the hope of making a big profit. The rest (43.5%) are more cautious and research coins before investing.
AMBCrypto also found that Dogecoin was the most favorite memecoin in June. Numbers favored this story: net flows from large investors were -293.66% on June 25, which simply meant that outflows exceeded inflows over the past 30 days. This can be taken as a bullish signal and a sign of expected recovery.
Source: IntoTheBlock
AMBCrypto’s report also looked beyond memecoins and analyzed other areas of crypto such as DeFi, gaming tokens and AI tokens. However, the most surprising finding occurred in the NFT sector.
The report found that Solana has become the new leader in minting NFTs, surpassing Ethereum. This suggests that users and developers are increasingly choosing Solana for creating NFTs.
Dive into AMBCrypto’s June market analysis
Discover memecoin investment strategies, analyze market trends and see the performance of the top cryptocurrencies in June. This comprehensive report covers critical topics including:
- Strategies to optimize returns for memecoin investors.
- Important factors to evaluate before investing in memecoins.
- Predictions on whether Bitcoin will cross $73,000 in July.
- The potential decoupling of BTC from traditional finance (TradFi).
- Ethereum’s weakening correlation with Bitcoin.
- What makes Cardano short-term investors so optimistic?
- Are AI Tokens Good for Portfolio Diversification?
- Should You Sell All Your NFTs?
You can download the full report here.