The bull market is back in a big way, and Bitcoin ($BTC) is quickly headed for new ATHs this week as GBTC outflows see a big drop. Holders of Grayscale’s Bitcoin Trust ETF are the last natural sellers, and these holders have either diamond-handed $BTC for years or are rotating out of this ETF due to it charging fees ten times more expensive than competitors.
Now that Bitcoin is charging again, memecoins are breaking out in tandem, and you should be asking yourself what crypto to buy today? Small caps will be the big breakout stars this cycle, and Galaxy Fox ($GFOX) could hit $6 million this month. Approaching its retail launch this token is becoming the focus of on-chain degens globally.
Bitcoin ($BTC) GBTC Outflows Drop
Outflows from Grayscale’s Bitcoin Trust ETF have finally slowed, and its AUM has dropped by nearly 50% since it was converted into an ETF in January. Created to unlock exposure to Bitcoin way before the ETF approvals, the conversion suddenly unlocked billions of trapped capital. Selling was no surprise and Bitcoin’s price action will look much healthier when GBTC has zero AUM. Now that GBTC outflows are easing up, Bitcoin is primed to break into a fresh rally and could set a new ATH this week.
The Grayscale Bitcoin Trust was a leading cause of the 2022 market collapse and now presents the most significant headwind to Bitcoin. However, with a dwindling AUM and the halving less than a month away, Grayscale’s impact on price is steadily waning. The halving will take place in less than a month, and instead of needing approximately $57.6 million of inflows to purchase daily issuance, it will only require $28.8 million.
Flows dictate price, and falling supply meeting constant or increasing demand means the price will go up. For this reason, $BTC is a top crypto to buy now in the run-up to the halving.
Galaxy Fox ($GFOX) Hitting $6 Million This Month?
Galaxy Fox is ready to hit $6 million this month and anybody asking what crypto to buy today as animal spirits reawaken should look at this presale. Powering past $5 million in several weeks and showing no signs of slowing, this new hybrid model is rapidly becoming a top crypto to invest in this quarter. Bitcoin has woken up, memecoins are ready to rip, and participating in a meme presale today is easy money.
This project reimagines what it means to be a memecoin and has blended a play-to-earn game into its ecosystem. This makes $GFOX one of the only tokens unlocking exposure to the growing memecoin rally and booming GameFi narrative. Galaxy Fox’s P2E component is an endless runner game, but this gaming classic has a Web3 twist. At the end of each season, the top-ranked players walk away with prizes, and adding a financial incentive turns this game into the perfect onboarding hook for new users.
Galaxy Fox’s tokenomics model is all-gas-no-brakes with staking rewards, a token burn, and a unique taxation system that funnels money throughout the ecosystem to drive long-term growth. Anybody can start earning immediately with the staking program, and the burn campaign ensures holders are accruing value around the clock, even while sleeping. Similar to Bitcoin’s halving and supply dynamic, when $GFOX goes live, all these economic levers will activate, and a massive repricing of the token is expected.
Closing Thoughts: Welcome to the Next Leg Up
The next leg up of the bull market has started, and Bitcoin looks primed to print a new ATH this week as GBTC outflows fall off a cliff. Memecoins are still running hot, and regarding what crypto to buy today, the obvious choice is Galaxy Fox.
This presale will go to market in ideal conditions, and small caps with solid value propositions and deflationary tokenomics always perform well out of the gate. Get your ticket for the Galaxy Fox journey today.
Learn more about $GFOX here:
Visit Galaxy Fox Presale | Join the Community
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.