The cryptocurrency market is facing minor corrections today. Bitcoin (BTC) has recently fallen to a price level of $94,000 after rising to the $97,000 mark. BTC appears to be facing substantial resistance at $97,000. Global crypto market capitalization has immersed 2.7% to $3.03 trillion in the last 24 hours.
Cryptocurrency slides
Market dips occurred after Florida considered two Bitcoin reserve invoices. The move has been a blow to cryptocurrency fans and investors. Many were hoping that the new state would join the ranks with BTC reserves.
Recent market gatherings may have been encouraged by institutional investors. BlackRock has purchased over $3.5 billion in BTC since April 22nd. Investor sentiment remains very low since the early April crash.
Interest rate cuts could potentially lead to more retail investors entering the cryptocurrency market. Given that US inflation has cooled more than expected, the Federal Reserve could soon introduce rate cuts.
Top 3 cryptocurrencies you can buy before Bitcoin reaches $100,000
1. Ripple (XRP):
Ripple’s XRP tokens had a rather bullish stage earlier this year. Assets are highly correlated with Bitcoin (BTC). If BTC violates the $100,000 mark, XRP could follow suit. Cryptocurrency can also regain the $3 mark.
2. Ethereum (eth):
ETH has not been able to gain momentum in recent months. Cryptocurrency is struggling to regain the $1,900 mark. If BTC reaches $100,000, ETH may experience a rally.
3. Dogecoin (Doge):
Doge is another cryptocurrency that could collect if BTC reaches $100,000. Memecoin has faced a significant price correction over the last few days. Low prices can be a good entry point for many investors.
