Bitcoin’s price remains stable near a critical technical level, trading below the “death cross,” a bearish indicator where the short-term moving average falls below the long-term moving average. In this scenario, Bitcoin shows limited movement as investors adopt a cautious approach. Meanwhile, the GameFi sector is witnessing rapid activity, with the Axie Infinity game token experiencing a significant price surge. Axie Infinity, a blockchain-based game where players collect and battle with various characters, has seen increased demand for its token recently, driven by the rising popularity of GameFi and investment from large investors known as “whales.” This year, the GameFi sector has introduced notable changes to the crypto market by combining gaming and financial services, offering users unique opportunities. Games like Axie Infinity have attracted users through digital ownership and rewards, leading to overall growth despite price volatility. Experts suggest that although Bitcoin’s price remains uncertain, growing interest in GameFi tokens could inject new momentum into the market. However, investors are advised to consider the potential for market fluctuations and make decisions cautiously, as cryptocurrency prices can change rapidly.
Source: decrypt
