US airstrikes on Iranian nuclear sites sent crypto prices tumbling, as global markets began pricing in the risk of a wider geopolitical conflict.
The Bitcoin price momentarily fell to $98.5k before bouncing back to $102k, while the altcoins are faring much worse.
Yet, bottoming indicators are starting to flash. Whales and smart money investors are opening leveraged long positions while altcoins have formed long-tailed doji candles at key support levels, which indicates seller exhaustion and a potential bullish reversal.
Is The Crypto Bull Market Over? Buy The Dip?
The United States’ entry into the Israel-Iran conflict over the weekend has increased the risks of a broader geopolitical conflict.
US bombers hit key Iranian nuclear sites, including Fordow, Natanz and Isfahan. Even more worryingly, US President Donald Trump is now hinting at a potential regime change in Iran, posting MIGA (Make Iran Great Again) in a recent Truth Social post.
However, the global financial markets appear to be largely unfazed.
For instance, oil prices have erased all gains from their post-US strikes rally, with both Crude Oil WTI and Brent down from their weekend highs. Stock futures, gold, and the US dollar aren’t showing signs of extreme volatility.
Even the Bitcoin price is down by just 5% over the past week and 9.4% from its all-time high. While altcoins are seeing sharper sell-offs, the Total 3 market cap – which excludes Bitcoin and Ethereum – has formed a doji candle, which signals seller exhaustion.
Typically in this bull cycle, macroeconomic and geopolitical-driven crypto crashes have proven to be excellent buying opportunities, and all signs suggest this time may be no different.
4 Altcoins That Are Ready To Bounce Back
We list 4 altcoins that are showing signs of a bottom and appear poised for a bullish reversal.
Ethereum (ETH)
Ethereum continues to be among the best cryptos to buy for this year’s bull run. There’s now a strong possibility that ETH has bottomed, as evidenced by a long doji wick to the $2,100 support and a swift rebound.
Legendary trader Bluntz also indicates that the ETHBTC trading pair has likely hit its local bottom, as evident by the completion of the A-B-C corrective pattern.
Whales and institutions have been buying the dip. Data from Spot On Chain reveals that an institution invested $112.96M to buy over 47,000 ETH during the recent three-day market correction.
Meanwhile, a whale has opened a $100 million long position on ETH, with 25x leverage.
Ethereum looks ready to bounce back, which would give a significant boost to the altcoin market.
Hyperliquid (HYPE)
Hyperliquid (HYPE) also appears poised for a bullish reversal. It has formed two doji candles right at its 0.618 Fibonacci level.
For instance, the Hyperliquid price is up by nearly 10% on Monday, while most altcoins are down significantly.
It’s also one of the few altcoins seeing more short liquidations than longs over the past 24 hours.
Unsurprisingly, whales are aggressively buying the dip, with one newly created wallet buying $17.5 million HYPE over the past two days.
Hyperliquid has been one of the best-performing crypto assets during this bull cycle, a trend that is expected to continue.
Fartcoin (FARTCOIN)
Fartcoin is typically one of the strongest performers during broader market relief rallies. Today is no different.
The Fartcoin price is up by 12% in the past 24 hours. After falling to $0.78 late on Sunday, it is back to trading at $0.93 at press time.
Fartcoin formed a doji candle just above a key support level, a precursor to a bullish reversal.
The popular meme coin has proved itself as one of the top performers during this bull cycle, much to the chagrin of Wall Street. Now with a Coinbase and Hyperliquid listing, bulls believe that Fartcoin could reach the $10 billion market capitalization.
Many are already calling it the next Dogecoin.
BTC Bull (BTCBULL)
BTC Bull (BTCBULL) has emerged as one of the hottest presale tokens on the market, having already raised over $7.3 million in its ICO.
There is no concept of a bounce-back with BTCBULL, considering it is still in its presale. However, the ICO will end on June 30th, and the meme coin will go live in the first few days of July, likely in the middle of a bull run.
Experts are, therefore, anticipating an extremely strong rally right out of the gate.
BTC Bull is a unique Bitcoin-themed meme coin. The project has tied itself to BTC’s long-term growth trajectory.
The token holders will receive a sizable free Bitcoin airdrop when the BTC price hits certain set milestones, $150k, $200k and so on. Experts believe this could happen this year itself.
Even before that, holders can benefit from token burn events and a massive BTCBULL airdrop as well. Early presale buyers are already benefiting from lucrative staking rewards.
Owing to its unique value proposition and small market cap, several experts are calling BTC Bull the next 100x crypto.
Visit BTC Bull Presale
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