Bitcoin loses $60,000 support; P2E Sector Booming as GFOX Soars

As bitcoin loses critical $60k support amid market turbulence, the Play-to-Earn sector thrives with Galaxy Fox (GFOX) rising in value, highlighting a sectoral contrast.

Every cryptocurrency bull market has brutal declines that test any investor's faith. It is part of what keeps markets healthy and provides entry positions for the strong, while weak hands seek exits. Given current macroeconomic conditions, including a strong dollar, delays in rate cuts, and a highly hostile regulatory environment, the carnage is not likely to end anytime soon. bitcoin (btc) lost support at $60,000 and the rest of the top ten cryptocurrencies have seen double-digit declines. It is evident that the market is shaken.

However, the P2E sector is booming as Galaxy Fox (GFOX) is fired after launch. The question arises: could GFOX be a promising cryptocurrency to buy now? And how does this memecoin/gambling currency continue to thrive amidst this chaos?

bitcoin loses $60,000 support

bitcoin has fallen below the $60,000 level and the bears have started calling for $52,000 and billions of dollars in liquidations. While touted as another massive source of liquidity, the Hong Kong bitcoin ETF was relatively disappointing, recording less than 10% of the first-day capital inflows of its US counterparts. However, it remains an essential conduit for native Hong Kong liquidity to travel to crypto markets.

Since late February, bitcoin has been moving vertically, and a healthy drawdown is needed to remove leverage and allow a more substantial base to form for an eventual bullish move. btc remains one of the top cryptocurrencies for investors who are long-term bearish on the dollar and its continued debasement. Despite missing the psychologically important $60,000 price level, the odds are strongly in favor of bitcoin trading above six figures later this year.

The play-to-win sector is booming

Galaxy Fox has been tagged as the leading cryptocurrency to buy now and this memecoin/game-to-earn coin has thrived since its launch. All pre-sale buyers received 25% of their tokens in TGE and follow a vesting schedule of 25% per week.

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

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

In this galactic infinite runner, players choose their favorite character from the Galaxy Fox roster, dodge obstacles, fly through space, and shoot enemies in a quest to earn as many stars as possible. At the end of the season, players with the most stars win prizes, and while altcoins bleed, GFOX holders will be able to win.

The protocol's nft collection unlocks special in-game upgrades, and token burning ensures that all community members accumulate value 24 hours a day. With increased staking rewards and an aggressive deflationary tokenomics model, GFOX has emerged as a clear winner in the current market conditions.

Conclusion

Is this cycle over? Are the lights out for the majors? Absolutely not. The FED plans to turn the printer back on in several months, and an expanding money supply always pushes risk assets to new highs. However, investors need to find relative strength in these declines, and Galaxy Fox is well ahead of its competition.

For more information about GFOX, visit the Galaxy Fox pre-sale, or Join the community.