Best Crypto to Buy Now April 11 – BitTensor, Helium, NEO
Following a slow day of news that saw Bitcoin (BTC) trade in rangebound fashion in the $70,000-71,000 area, traders are turning to the altcoins markets as they hunt for the best crypto to buy now that could deliver quick gains.
Traders continue to monitor themes including the upcoming Bitcoin halving, the evolving Fed interest rate outlook, and Bitcoin ETF flows.
The halving is now just nine days away as nerves are building that Bitcoin could see price turbulence.
Meanwhile, fading GBTC outflows means spot Bitcoin ETF demand is returning as a tailwind to the market. That is helping to cushion the BTC price against a recent repricing of Fed rate cut bets.
Wednesday’s hot US CPI data, which comes on the heels of strong jobs and activity data a week earlier, suggests that it will be too early for the Fed to cut interest rates this summer.
Whilst the timing of US rate cuts are being pushed back, the long-term trajectory remains towards easing.
New York Fed President John Williams reiterated his stance that rate cuts make sense later this year.
Globally, other major central banks are also easing. The ECB signaled rate cuts to come this summer at its Thursday meeting.
Macro thus looks set to remain a long-term tailwind for Bitcoin and the broader market. Indeed, many continue to bet that BTC can hit $100,000 this year.
That suggests, for investors looking to get involved in crypto, it could be the best crypto to buy today. It is, after all, the oldest, most time-tested and trusted crypto asset on the market.
The 9 Bitcoin ETFs have purchased ~225,000 #Bitcoin since the launch in January.
IBIT alone has absorbed all of the Grayscale selling.
This is a net purchase of ~3,600 Bitcoin for every trading day since the launch.
In the next few
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