Best Crypto to Buy Now 10 May – Bitcoin SV, Lido DAO, SUI
In a surprising turn of events, Bitcoin experienced a significant drop earlier today, falling below the $27,000 mark to register an intraday low of $26,833.
This unexpected downturn occurred in the middle of the day and has countered the upward trend that followed the release of somewhat positive U.S. inflation data.
Considering the ongoing market volatility in the cryptocurrency market, what are the best cryptos to buy now?
Market analysts have linked the abrupt fall in Bitcoin's price to a significant transaction from the U.S. government's Bitcoin wallet.
Blockstream data revealed a substantial movement of 9819.01814463 bitcoins from the wallet. This transaction had a noticeable impact on the market, causing Bitcoin to fall below the $27,000 mark for the first time in a month.
However, the downturn was short-lived, with Bitcoin quickly recovering to trade above $27,000 again.
At the time of writing, Bitcoin's price stands at $27,676, nearly breaking even over the past 24 hours.
Bitcoin's price had initially surged following the release of the Consumer Price Index (CPI) report by the Bureau of Labor Statistics.
The report indicated that annual inflation had decelerated to 4.9% in April, down from 5% in March and below the predicted 5%.
The CPI increased by 0.4% on a monthly basis, which was in line with expectations and higher than the 0.1% in March.
Even with the recent market downturn and the release of the latest CPI data, a number of cryptocurrencies continue to stand out for potential investment consideration.
AI, BSV, SPONGE, LDO, ECOTERRA, SUI, and SWDTKN are some of the best cryptos to buy now, based on their strong fundamentals and/or positive technical analysis.
AiDoge has recently hit a significant milestone in the
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