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Bitcoin (BTC) gained over 7% on 1 January, climbing above the $45K value region. Matrixport predicts Bitcoin uptick to $50K this month, citing potential spot ETF approval around 10 January.

Meanwhile, a new meme crypto, Memeinator (MMTR), looks to outperform the altcoin market after emerging as among the top 2023 ICOs.

The latest Matrixport report shows BTC maintained a high funding rate, confirming the bullish outlook by investors as they await a Bitcoin exchange-traded fund approval. Further, an alt season could be imminent as the BTC dominance indicator plunged to 50.3%.

The current price surges indicate fewer sellers as Tether minting remains dormant. The funding rate stands at the +66% high. That shows longs paid shorts a 66% yearly rate to keep their positions.

The futures market and spot market squeeze will likely propel Bitcoin past the $50K value area by January 2024. Some expect the leading asset to attain this target by the end of January, week one.

Positive developments like BTC ETF approval, the April 2024 halving, and the improving global economy set the stage for significant rallies for Bitcoin. That would see altcoins exploding, and MMTR is among the assets poised for notable price movements.

Memeinator is a newly launched meme coin, and its presale success positions it among the alts to skyrocket in the next bull run. While canine-themed cryptos encounter criticism due to lack of utility and uninspiring marketing, MMTR wants to clear subpar cheap memes as it targets the billion-dollar market capitalization.

Memeinator emerged as the top ICO of the projects in 2023, joining 2024 as among the most promising cryptocurrency assets.

Memeinator establishes itself as a dominant project in the crypto world, and its presale success testifies to that. The blend of artificial intelligence and blockchain will likely see MMTR exploding to record levels.

Considering its impressive ICO status, Memeinator will likely succeed ahead. A broad-based market rally and the project’s ultimate objectives (clearing the meme coin sector for future generations and hitting $1 billion in market cap) means a smooth path for MMTR price to hit $1.

You can find more information about Memeinator on their official website.

The post Memeinator (MMTR) outlook amid imminent Bitcoin-driven bull run appeared first on Invezz

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