Best Crypto to Buy Now April 9 – Fantom, Toncoin, Ethena
As major cryptocurrencies pull sharply lower on Tuesday, with Bitcoin (BTC) and Ether (ETH) both down in the region of 4% in the past 24 hours, traders are looking for the best crypto to buy now to make quick gains.
Bitcoin was last trading just below $69,000 and Ether back near $3,500. Meanwhile, BNB, Solana and Dogecoin were each down in the region of 2-7% over the same time period.
The bearish price action is in fitting with the crypto market’s rangebound trading conditions in recent weeks.
Amid a lack of conviction that prices are set to vault higher ahead of the April 20 Bitcoin halving, crypto market sell pressure has ramped up in wake of Bitcoin approaching record highs above $72,000 on Monday.
Indeed, many traders think that the halving could end up being a “sell-the-news” event. Buying aggressively ahead of the halving thus makes little sense to a lot of market participants.
Others, like well-known trader Arthur Hayes, think macro conditions are set to be a near-term headwind. US tax payments and Fed tightening are set to withdraw USD liquidity in the coming weeks, acting as a short-term headwind to the market.
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