A sectorial contrast is highlighted as the Play-to-Earn sector flourishes as Bitcoin loses the crucial $60k support amid market instability, with Galaxy Fox (GFOX) seeing a sharp increase in value.

Every cryptocurrency bull market has severe declines that put an investor's trust to the test. It helps maintain the health of the markets and gives the strong entrance points while the weaker players seek for the exits.

The carnage isn't going to stop anytime soon given the macroeconomic fundamentals of the moment, which include a strong dollar, delays in rate decreases, and an extremely unfriendly regulatory environment. The support for Bitcoin (BTC) dropped to $60,000.

The losses on the other ten most popular cryptocurrencies have been double digits. The market is definitely shook.

Nonetheless, as Galaxy Fox (GFOX) leaps after introduction, the P2E industry is flourishing.

So, the query is: could GFOX be a promising crypto to buy now, and how is this memecoin/play-to-earn coin still thriving amid this chaos

Bitcoin loses $60k support

Bitcoin has fallen below the $60,000 level, and bears have begun calling for $52,000 and billions of dollars in liquidations.

While touted as another massive liquidity source, the Hong Kong Bitcoin ETF was relatively disappointing and saw less than 10% of first-day inflows than its US counterparts.

However, it is still an essential conduit for Hong Kong’s native liquidity to travel into crypto markets.

Since late February, Bitcoin has been moving vertically, and a healthy drawdown is needed to flush out leverage and allow for the formation of a more substantial base for an eventual move higher.

BTC remains a top crypto to buy for investors who are bearish long-term on the dollar and its continued debasement.

Despite losing the psychologically important price level of $60,000, the odds stand heavily in favor of Bitcoin trading above six figures later this year

Play-to-Earn sector booms

Galaxy Fox has been labeled the leading cryptocurrency to buy now and this memecoin/ play-to-earn coin has been thriving since its launch. All presale buyers received 25% of their tokens at TGE and are following a vesting schedule of 25% per week.

Staking rewards are live and thousands of holders are taking advantage of the boosted pools live for the first 30 days to earn up to 60% APY on their GFOX tokens.

Amid the altcoin drawdown, the play-to-earn sector has proven the most resilient. Markets have shown that investors love the ability to translate their gaming skills into cash. Galaxy Fox will launch its own P2E game on May 11, and the community is holding its breath in anticipation.

Selecting their preferred character from the Galaxy Fox roster, players must avoid obstacles, travel across space, and fire adversaries in order to win as many stars as they can in this intergalactic infinite runner.

Players with the most stars at the end of the season receive awards; GFOX holders will be able to profit while cryptocurrencies lose value.

Special in-game bonuses can be unlocked through the protocol's collection of NFTs, and the token burn guarantees that everyone in the community is always gaining value.

With increased staking incentives and a proactive deflationary tokenomics approach, GFOX has emerged as the market leader in the present circumstances.