The cryptocurrency market plunged today, June 27, amid profit-taking among investors after the recent rally. Bitcoin dropped by 0.45% to $106,500, while the market valuation of all tokens fell by 0.60% to $3.2 trillion. Let’s explore why Bitcoin and altcoins are falling and some of the top cryptos to buy.
Why Bitcoin and Altcoins Are Crashing
Bitcoin and most altcoins crashed today even as the stock market rally intensified. BTC dropped to $106,500, while top altcoins like SPX6900 (SPX), Celestia (TIA), Kaia (KAIA), Sei (SEI), and Pi Network prices fell by over 10%.
Other notable top laggards in the crypto market were coins like Pudgy Penguins (PENGU), Sui, Dogwifhat, and JasmyCoin. Only a handful of tokens like DeXe, Aptos, and Maple Finance were in the green.
The ongoing crypto crash is happening as investors book profits after the recent rally. This surge saw Bitcoin pump from below $100,000 to over $107,000 after the truce between Iran and Israel. It is common for cryptocurrencies to retreat after a strong surge as some retail investors take profits.
The crash also happened as Bitcoin found substantial resistance around the $107,000 level. Most of these falling altcoins would have soared if Bitcoin continued its uptrend and reached its all-time high.
Further, the retreat is likely because the recent rally was part of a dead cat bounce. A DCB is a situation where a crashing asset bounces back temporarily and then resumes the downtrend.
Best Hidden Gems Crypto to Buy the Dip In
Some of the top hidden gems crypto to buy for big returns are Near Protocol (NEAR), Cosmos (ATOM), and Bitcoin Pepe (BPEP).
Near Protocol (NEAR)
Near Protocol is one of the top crypto to buy because of its cheap price, strong utility, and high staking yield. Its price has plunged by over 74% from its highest point in December.
On-chain data shows that Near Protocol’s network is doing well. It had over 800,000 active addresses in the last 30 days and handled over 149 million transactions. This makes it the sixth-biggest player in the sector in terms of transactions. It has also become one of the top AI tokens in crypto.
Near Protocol is also one of the highest-yielding token with a staking yield of over 10%. This means that the token will earn you $1,000 a year if you invest $10,000.
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Cosmos (ATOM)
Cosmos is another top crypto to buy because of its strong market share in the crypto industry. Its ecosystem powers top players like Osmosis, dYdX Chain, Celestia, Injective, and THORChain. Cosmos, like Near Protocol, also has a high staking yield of 16%.
Technically, ATOM price has formed a double-bottom pattern at $3.559, its lowest swing on March 11 and June 22. Its neckline is at $5.50, its highest swing on May 12. Therefore, the token will likely bounce back, and possibly reach a high of $5.5, up by 40% above the current level.
Bitcoin Pepe (BPEP)
Bitcoin Pepe is another crypto to buy as its token sale intensifies. It has raised nearly $16 million in the past few months, making it one of the fastest-growing token sales of the year.
Bitcoin Pepe is thriving because of the potential for big gains after it launches its airdrop, potentially in July or August. Analysts anticipate that it will jump sharply because of the promise to disrupt the meme coin industry.
In this, it hopes to become the biggest meme coin-focused layer-2 blockchain network on Bitcoin. If it succeeds, it will help Bitcoin to disrupt Solana, the current leader in the meme coin space. Hurry up and buy Bitcoin PEPE here before the listing.
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