Introduction:

Today, Bitcoin started at $61,000, staying close to a crucial support level, causing concern for alternative cryptocurrencies. This stagnant situation might lead to a loss of support for altcoins. Let's delve into the current state of the market and explore which altcoins are garnering attention alongside the latest predictions for Bitcoin and other cryptocurrencies.

Cryptocurrency Overview:

The cryptocurrency market is experiencing shallow fluctuations, with Bitcoin hovering around the $60,000 support level following remarks from Federal Reserve members. Concerns arise from the Fed's dissatisfaction with first-quarter data, hinting at a potential shift towards tightening measures if inflation surpasses expectations. This could delay the target of achieving 2% inflation by 1-2 years, with the possibility of 2+ rate cuts by 2024.

Bitcoin and Altcoin Analysis:

Interest in cryptocurrencies is dwindling due to macroeconomic uncertainties, leading to a significant decrease in daily trading volume across exchanges. This week, BONK and CORE Coin suffered losses exceeding 15%, alongside other top 100 cryptocurrencies like STX, PENDLE, W, TAO, SEI, LDO, WIF, and HNT Coin. However, TON Coin stood out with a notable 22% increase, nearing the $7 mark, while RNDR Coin's anticipated surge has commenced, now at $11, especially with the impending NVIDIA earnings report on May 22.

Conclusion:

The cryptocurrency market remains in a state of flux, influenced by macroeconomic factors and Federal Reserve policies. While Bitcoin maintains its support level, altcoins face challenges amidst declining investor interest. Despite the market's current turbulence, certain cryptocurrencies like TON Coin and RNDR Coin show promise, hinting at potential opportunities for investors in the coming days.