Bitcoin

SATS

ORDI

Northern

LeverFi

Since last weekend, Bitcoin’s price has exhibited sideways trading, contributing to a lackluster trend across the altcoin market. The daily BTC chart displays rejection candles at both highs and lows, indicating a lack of clear dominance by either buyers or sellers. Amidst this uncertainty, the prevailing market fear has led to a major sentiment shift, highlighting ORDI, SATS, and LeverFi among the top altcoins to sell.
Interestingly, the crypto buyers struggle to build a bullish momentum despite recent developments in spot ETF inflow and German government selling. On July 12th, <a href="https://coingape.com/us-bitcoin-etf-see-1-1-billion-inflow-this-week-btc-holdings-at-all-time-high/" rel="noopener noreferrer nofollow">Bitcoin spot ETFs</a> saw a significant inflow of $310 million, continuing their positive trend with net inflows for six consecutive days.
The German government has reportedly sold all of its Bitcoin holdings, amounting to $2.9 billion. This follows a series of transactions over the past 25 days where significant amounts of Bitcoin were moved, leading up to this complete liquidation.&nbsp;
Despite the positive development, the BTC price struggles to maintain momentum, indicating potential downfall risks. If the correction extends, the <a href="https://coingape.com/top-brc-20-tokens/" rel="noopener noreferrer nofollow">BRC-20 tokens</a> could witness a major downfall.&nbsp;
Also Read: <a href="https://coingape.com/bitcoin-miner-northern-data-predicts-robust-revenue-growth-amid-ai-boom/" rel="noopener noreferrer nofollow">Bitcoin Miner Northern Data Predicts Robust Revenue Growth Amid AI Boom</a>
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 <li style="font-weight: 400;" aria-level="1"><h2 id="span-style-font-weight-400-altcoins-to-sell-ordi-span">Altcoins to Sell- ORDI</h2></li>
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ORDI is a pioneering cryptocurrency created using the BRC-20 standard on the Bitcoin blockchain. This standard leverages the Ordinals protocol, allowing data to be inscribed directly onto Satoshis, Bitcoin’s smallest unit thus facilitating the creation of unique digital assets such as NFTs.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/v/vN9bLFbm.png" alt="BINANCE:ORDIUSDT Chart " width="1814" height="755">
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 ORDI| Tradingview
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For the past four months, the <a href="https://coingape.com/price/ordinals/" rel="noopener noreferrer nofollow">ORDI price</a> has experienced a steady correction resonating in a falling wedge pattern. As the market supply pressure eased this week, the token price rebounded from the pattern’s lower trendline at $25.8.
The bullish turnaround uplifted the asset 28.63% to trade at $33.24, while the market cap jumped to $695.2. However, if the market correction extends, the sellers could rechallenge the lower trendline.
A possible breakdown will accelerate the selling momentum and could target $18.45.&nbsp;
Also Read: <a href="https://coingape.com/breaking-germany-runs-of-bitcoin-with-3846-btc-moved-to-flow-traders/" rel="noopener noreferrer nofollow">Germany Runs Of Bitcoin With 3846 BTC Moved To Flow Traders</a>
<ul>
 <li aria-level="1"><h2 id="b-sats-1000sats-b">SATS (1000SATS)</h2></li>
</ul>
SATS (1000SATS) is a <a href="https://coingape.com/education/brc-20-know-everything-about-this-new-development-by-bitcoin/" rel="noopener noreferrer nofollow">BRC-20</a> token designed to honor Satoshi Nakamoto, the creator of Bitcoin. Each 1000SATS token represents 1,000 satoshis.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/g/GxCPQWMO.png" alt="KUCOIN:SATSUSDT Chart " width="1815" height="755">
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 SATS (1000SATS)| Tradingview
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The ongoing correction in the SATS token can be effectively tracked by observing the falling channel pattern. The two downsloping trendlines as dynamic resistance and support have $0.00000082 to $0.00000011 registering a loss of 86.4%.
However, the token entered an oversold state which bolstered a sharp reversal back to $0.0000002, while uplifting the market cap of $431.26 Million. If the bullish momentum persists, the <a href="https://coingape.com/price/sats-ordinals/" rel="noopener noreferrer nofollow">SATS price</a> could rise another 15% before challenging the channel’s upper boundary.
This resistance coinciding close with 100D EMA and $0.000000238 creates a high supply zone for traders to witness renewed selling pressure. If the resistance holds, the SATS token could trigger another reversal and prolong the downward trend.
Also Read: <a href="https://coingape.com/markets/bitcoin-price-to-reclaim-60000-as-institutional-investors-pile-102k-btc-in-3-months/" rel="noopener noreferrer nofollow">BTC Price To Reclaim $60,000 As Institutional Investors Pile 102k Bitcoin In 3 Months?</a>
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 <li style="font-weight: 400;" aria-level="1"><h2 id="span-style-font-weight-400-leverfi-lever-span">LeverFi (LEVER)</h2></li>
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LeverFi (LEVER) is a decentralized, on-chain leverage trading platform built on the Ethereum blockchain. It aims to enhance asset efficiency and provide sustainable real yields for traders and lenders.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/w/WgThnvmY.png" alt="BINANCE:LEVERUSDT Chart " width="1946" height="893">
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 LeverFi (LEVER)| Tradingview
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Despite the recent market correction, the LEVER token showed notable resilience above the $0.002 level. However, the consolidation prolonged in the crypto market and built the fear of prolonged correction as the price developed a bearish head and shoulder pattern.
The LeverFI token currently trades at $0.0022 while the market cap holds $74.7 Million. A potential breakdown from $0.002 will intensify the selling momentum and could drive the falling price to $0.00156.
Thus, for buyers to invalidate this bearish thesis, a breakout from the $0.0027 resistance is needed.
Key Takeaway
The Bitcoin fall struggling to breach $60000 indicates the overhead supply in the market cap persists. Despite the reduced selling pressure from the German government’s BTC liquidation and the significant inflows into Bitcoin, the current sideways price action suggests a need for stronger buyer conviction. In the event of an extended market correction, BRC-20 tokens, which have recently surged in popularity, emerge among the top altcoins to sell due to their potential for significant impact.
The post <a href="https://coingape.com/markets/brc-20-altcoins-to-sell-as-bitcoin-fails-60000-breakout/" rel="noopener noreferrer nofollow">3 BRC-20 Altcoins to Sell as Bitcoin Fails $60000 Breakout</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

3 BRC-20 Altcoins to Sell as Bitcoin Fails $60000 Breakout

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Coingape News Media

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