Global #crypto market

Bitcoin is currently encountering resistance at its upper range, indicating potential short-term volatility. An analysis by Rekt Capital suggests that Bitcoin historically hasn't broken out of a re-accumulation range so soon after a halving event. With Bitcoin struggling against this high resistance, the cryptocurrency market appears uncertain.

Once again, meme coins are dominating the narrative as the crypto market enters the second phase of the bull cycle, overshadowing even Bitcoin's return to the $71,000 range.

Despite Nvidia's strong first-quarter earnings report, the prices of AI-related cryptocurrency tokens experienced a brief downturn, defying expectations of crypto traders.

Polygon, the Ethereum scalability solution addressing the network's scalability challenges, has reached a significant milestone: 4 billion total transactions. This accomplishment stands out, especially considering that the network was launched merely four years ago in June 2020.

Avalanche has been grappling with a persistent struggle to break through its price range, fluctuating between $30 to $39 for several weeks. As of the current writing, the price of Avalanche (AVAX) sits at $34.98, accompanied by a market cap of $13,366,945,544.

Bitcoin miners are beginning to experience pressure as they adjust to halved rewards following the halving event. While there was a temporary relief due to a surge in network fees, the subsequent decrease in transaction fees is now exacerbating their financial challenges.