Newer investors got a typical baptism of fire earlier this week. Bitcoin ($BTC) experienced a flash crash as a cascade of liquidations pushed it down nearly 10% after briefly touching its ATH on Monday, March 5th. What caused the $BTC dump, and will price continue to go lower? This was all a result of overleveraged traders taking irresponsible positions.
Thankfully, markets hold pockets of resistance, and during this drawdown, Galaxy Fox ($GFOX) rallied 9%. Why is this ICO pumping during downturn? And why was it recently labeled a top crypto to invest in this cycle? Let’s take a look.
Bitcoin ($BTC): Flash Crash & $1.1 Billion In Liquidations
Bitcoin dashed investors’ hopes against a rock earlier this week. After adding more than $200 billion to its market cap and shooting up over $10,000, everybody thought it would blast past its ATH like a knife through butter. But the order books had different plans. More than $1.1 billion of perps got liquidated across markets, and nearly $870 million of longs got wiped off the face of the planet in a single day.
Huge sell wall orders waited at $69,000, $69,200, and a massive blockade at $70,000. Who is responsible for this selling pressure? Miners are the natural sellers of Bitcoin and always look to cash in when $BTC approaches its ATH. Additionally many experienced traders who have seen multiple cycles knew that $BTC would not break its ATH on the first go. And add into the mix many people who got burnt last cycle, looking to break even and finally exit their position.
Bitcoin is still one of the top cryptos to buy right now, and this cycle will be the first time that $BTC breaks its ATH pre-halving. Things are looking very exciting for those buying spot and holding.
Galaxy Fox ($GFOX) Pumping Throughout Downturn
Galaxy Fox registered an impressive 9% gain while markets saw a bloodbath. Why is this presale token pumping? Its innovative price-demand mechanism is responsible, and surging participation pushed $GFOX into its next presale phase. Entering the final innings of a massively successful presale and crossing $4 million, Galaxy Fox has cemented its position as the top crypto to invest in this cycle.
Leading the ICO charge, this micro-cap can easily teleport into a multi-billion dollar project. Remember, this is the bull market, and crazy things happen. Galaxy Fox has ideal narrative support, strong fundamentals, and has shown incredible proficiency in creating early momentum. Everything an investor wants to see in an early-stage project.
Thanks to its hybrid build, $GFOX is supported by the GameFi and memecoin narratives. It takes a classic memecoin build, integrates a P2E component, and adds an earning ecosystem on top. The endless runner game pays out prizes each season and is a great onboarding tool for the ecosystem. Staking rewards are another draw, and the Stargate module distributes payouts aligned with ecosystem activity and growth.
Holding and staking $GFOX is a stakeholder position in this galactic ecosystem, and investors can rely on the protocol’s token burn to help them accrue value around the clock. And the current trajectory implies a blockbuster price discovery phase when $GFOX goes live.
Closing Thoughts: Presales In A Bull Market
Investors who want to make crazy returns in this bull market have only a handful of options: trade one of the top ten cryptocurrencies with excessive leverage, deploy six figures or more into a major altcoin, or participate in presales.
Presales are the last golden wealth creation tool. Investing in Galaxy Fox today allows you to become an early supporter and early adopter of 2024’s top crypto to invest in. Can you imagine buying one of 2021’s biggest memecoins like $DOGE or $SHIB early? Galaxy Fox is this cycle’s equivalent.
Learn more about $GFOX here:
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