When traders were surveyed by Santiment regarding whether they believed crypto markets had peaked in April, nearly 44% of respondents believed they had, indicating a lack of confidence in further price increases.
Despite the price drop, a bullish divergence has been noted in Bitcoin’s whale accumulation chart.
Bitcoin’s large wallet holders, often referred to as whales, have acquired 0.29% of the Bitcoin supply from April 10 to May 10.
This increase in holdings amidst falling prices suggests that these large-scale investors anticipate a rebound.
Despite the recent market slump, several cryptocurrencies may still be good potential investment prospects.
Considering their strong fundamentals and/or positive technical analysis, AI, PEPE, SPONGE, BGB, YPRED, ATOM, and DLANCE are some of the best cryptos to buy now.
The cryptocurrency market is witnessing a new trend with the rise of AiDoge, a project that combines the virality of meme coins with the practical utility of artificial intelligence (AI).
AiDoge’s presale of its native $AI token has been gaining momentum, raising over $5.8 million so far in funding.