Best Crypto to Buy Now April 25 – Wormhole, Bonk, Pepe
As major cryptos consolidate above earlier session lows, with Bitcoin (BTC) close to $64,000 and Ether (ETH) close to $3,150, traders looking for the best crypto to buy now are scouring altcoin markets for top gainers.
Blue-chip cryptocurrency markets are trading down on the week. Spot Bitcoin ETF demand has continued to decelerate, with BlackRock’s IBIT experiencing zero inflows for the first time on Wednesday.
❖ BITCOIN ETFS SEE $120 MILLION OUTFLOWS, BLACKROCK'S IBIT ENDS 71-DAY INFLOW STREAK
Per data from Farside Investors, most Bitcoin ETFs saw zero daily inflows, with just the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) seeing inflows of $5.6…
— *Walter Bloomberg (@DeItaone) April 25, 2024
And the latest US GDP report has just pushed US yields back to multi-month highs. That’s because the inflation component of the report was hotter than expected, weighing on Fed rate cut bets.
As per the CME, the odds of no interest rate cuts before September jumped 10% to over 40%.
While major cryptos like Bitcoin and Ether are trading flat over 24 hours, according to CoinMarketCap, this is potentially bearish.
Should Friday’s US Core PCE inflation report get hotter than expected, major cryptos could soon retest recent lows.
Additionally, fading ETF demand and continued post-halving selling from miners could see Bitcoin drop to $50,000.
That suggests that, for short-term investors, it probably isn’t the best crypto to buy now.
Investors hunting for fast returns will instead need to turn to the altcoin market.
Smaller and lesser-known altcoins can pump regardless of broader market conditions if they have a strong bullish narrative.
Here are some strong performers on Thursday that could be the best crypto to
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