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Best Crypto to Buy Now
As traders analyze the latest Fed policy announcement and its impact on the altcoin market, they are on the lookout for the best crypto to buy today.
Bitcoin and Ether Prices
- Bitcoin (BTC) is currently trading in the $57,000s, down over 4% in the last 24 hours.
- Ether (ETH) is trading around $3,000, about 1% lower.
The selling pressure is attributed to Bitcoin ETF outflows and indications of persistent inflation in the US.
Market Outlook
US ETFs have witnessed outflows for five consecutive days, impacting the outlook for Fed rate cuts.
Bitcoin bears are eyeing a support test at $53,000, which could present a buying opportunity.
Despite the current dip, a 30% retracement from March highs might attract long-term bulls to re-enter the market.
Altcoins with Momentum
Investors seeking quick gains are advised to explore altcoins showing strong performance. Here are some top picks:
Wormhole (W)
Wormhole is a multi-chain protocol showing an 11% increase in the last 24 hours, with potential to rally towards $1.0.
Optimism (OP)
Optimism, a Layer-2 Ethereum scaling solution, is up 7.5% and could target $4.0 soon.
Axelar (AXL)
Axelar, a web3 interoperability platform, has surged 8.5% and aims to surpass $2.0 resistance.
Alternative Investment Strategy – Presales
Investing in presales of Web3 projects can yield high returns if chosen wisely. Identifying promising projects early on can lead to significant profits.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
