has retraced almost all of its gains after breaking out past the $67k resistance level on 20 May. It extended upwards to $71.9k, but fell to test $67k again on 23 May.
This consolidation implies that Bitcoin’s bullish strength is not as high as investors would have hoped. In fact, a recent AMBCrypto report explored some relevant Bitcoin metrics, finding that many of themshared some insights into the crypto trends on social media. Memecoins have captured more of the public’s attention since mid-April due to their superior performance as a sector.also saw remarkable gains over the past two weeks, with the altcoin up by 63% since 20 April.
The heavy engagement with memecoins could be a sign that the market is greedy and speculative and not in a phase of organic development, one where the public pursues tokens with good tech and utility.have been positive lately and the month of May ended well too. However, it remains to be seen if that is enough to begin another rally this week.The data also showed that Bitcoin discussions were sliding downward.
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