Bitcoin's Influence on the Cryptocurrency Market

Bitcoin, with a market dominance of over 50% in the cryptocurrency sector, establishes itself as a relatively stable choice amidst the volatility of cryptocurrencies. This analysis investigates the potential performance of alternative cryptocurrencies in June if Bitcoin manages to reach $73,000, its highest value.

Evaluation of Arbitrum Chart

The ARB/BTC chart demonstrates a substantial downtrend, with prices consistently below the daily Ichimoku Cloud and the 100-Day EMA average. The current consolidation phase near support levels signals a crucial turning point.

Assessment of Injective Chart

In the context of the INJ/BTC chart, a prolonged downtrend is evident, characterized by continual struggles to exceed the daily Ichimoku Cloud and the 100-Day EMA average. The ongoing testing of the support level suggests a potential breakout. Noteworthy achievements of Injective Protocol in the DeFi sector could attract considerable interest and funding as the DeFi industry expands.

Overview of Ordi Chart

The ORDI/BTC chart displays a downtrend pattern with consolidation below the daily Ichimoku Cloud and the 100-Day EMA average. The proximity to a support level implies the possibility of an impending breakout.

Ordinals (ORDI), a cryptocurrency project integrated within the Bitcoin ecosystem, could witness a surge in momentum and interest throughout the Bitcoin ecosystem's growth if Bitcoin experiences an upward trajectory.