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Joel Frank
Author
Joel Frank
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Why Trust Cryptonews
While Bitcoin (BTC) remains stuck below its 200DMA at $64,000, other sectors of the crypto market are pumping, with investors scouring altcoin markets for the best crypto to buy now.
Bitcoin was last down just under 1.0% in the past 24 hours at $63,000, according to CoinMarketCap.
Ethereum (ETH), meanwhile, was down 2.4%, or nearly $2,600, over the same time period as investors fretted about continued Ethereum ETF outflows.
However, altcoins are generally still performing well amid anticipation that global central bank easing will drive demand for riskier assets in the long run.
China just reduced its reserve requirement on banks by 50bps.
That comes one week after the Fed cut interest rates by 50bps, initiating the first cutting cycle since 2020.
US Core PCE inflation data out later this week could fuel the idea of Fed easing further if they show inflation falling back to the Fed’s 2.0% goal faster than anticipated.
That could help push Bitcoin back above $64,000 and open the door to run towards $70,000.
That could inject further momentum into the altcoin market, which has been heating up over the past week.
Some are even going as far as to bet that a new altcoin season is incoming.
Here are some strong-performing altcoins on Tuesday that might be the best crypto to buy now.
Best Crypto to Buy Now – Which Are They?
Dogwifhat (WIF)
According to TradingView, the Solana meme coin dogfight (WIF) was a leading performer on Tuesday, up over 10% on the day.
WIF will likely soon retest the downtrend that has been in play since April.
A break above here could spark a rapid 2.5x move back to yearly highs near $5.0.
As a leading Solana meme coin, WIF stands to be a major beneficiary of any future altcoin season.
For investors looking to add exposure to meme coins, WIF is a strong candidate for the best crypto to buy now.
Alternatively, investors interested in meme coins might want to check out Cryptonews.com’s list of their favorite meme coin presales right now.
Meme coins like dogwifhat have a lot of upside potential, maybe as much as 10x.
However, traders looking for 50-100x upside potential will need to find smaller, lesser-known meme coins and get in before they start trending.
Meme coin presales are a great way to do this.
Conflux (CFX)
Another top performer and candidate for best crypto to buy now is Conflux (CFX).
Last, at $0.16, the innovative layer-1 blockchain recently pushed convincingly above its 50DMA.
Promising breakouts above the 50DMA have ultimately failed in recent months.
But this time, things look different, with CFX potentially poised for a swift move back up to its March highs of $0.55.
Celestia (TIA)
For short-term traders, Celestia (TIA) is a good option.
TIA recently snapped a short-term downtrend and subsequently went on to confirm the breakout.
Last at $6.15, it could soon retest resistance at $7.60.
Bulls will be hoping for a swift rally of more than 3x back to February highs above $20.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
