After failing on its second attempt to break convincingly to the north of the $28,000 level this week, Bitcoin (BTC) has fallen just over 1% to trade back below the $27,500 mark.
The 200DMA (at $28,000) continues to act as strong resistance, and traders are likely reluctant to push the price above this key long-term level ahead of Friday’s key US jobs data release.
US yields are pulling back sharply from earlier weekly highs, though still remain up on the week, and a stronger-than-expected jobs data release could reignite the upward pressure on yields, which would likely weighing on crypto prices.
Higher yields on risk-free assets like US government bonds reduce the incentive for investors to hold riskier and non-yielding assets, of which Bitcoin is considered to be both.
Other blue-chip tokens like Ether (ETH), XRP (XRP) and Solana (SOL) are also pulling lower on Thursday, with each down roughly 2-3% in the last 24 hours as per CoinMarketCap.
With market conditions likely to remain somewhat tame ahead of Friday’s US jobs data, traders will continue to turn to illiquid shitcoin/meme coin markets in the hunt for better trading opportunities.
Here are some of the top-performing low-cap tokens as per DEXTools.
Blinky Red Ghost ($Blinky)
A recently launched shitcoin called Blinky Red Ghost ($Blinky) has pumped on Thursday, and was last up more than 300% in the last 24 hours, as per DEXTools.
Blinky Red Ghost last had a market cap of around $260,000, liquidity of $224,000, over 200 holders and around $650,000 in 24-hour trading volumes, all fairly impressive numbers.
The token doesn’t appear to be a scam, with no concerning aspects to its contract, as per the DEXTools’ security audit.
Master Shifu ($SHIFU)
A shitcoin called Master Shifu ($SHIFU) that was launched earlier this week is looking to make it three up days in a row and was last up over 160% in the last 24 hours, as per DEXTools.
The shitcoin last had a market cap of around $700,000, around $370,000 in liquidity, close to 300 holders and 24-hour trading volumes of over $700,000.
The token’s contract only has two alerts, as per DEXTools’ security audit.
Bolt ($BOLT)
Another token called Bolt ($BOLT), which is the native token of a Telegram-based trading bot, is also looking to make it three up days in a row.
$BOLT was last up around 140% in the last 24 hours as per DEXTools, with a market cap of just under $500,00, locked liquidity of around $110,000, over 1,300 holders.
Trading volumes in the past 24 hours are meager at only around $60,000, suggesting the recent move higher lacks conviction, so investors should be careful about a possible reversal.
Credit: Source link
