Best Crypto to Buy Now June 13 – Livepeer, Notcoin, Toncoin
As major cryptocurrencies consolidate on Thursday in wake of a volatile Wednesday session that saw markets buffeted by US CPI data and a Fed policy announcement, traders are scouring altcoins markets as they look for the best crypto to buy now that might deliver quick gains.
A softer-than-expected US CPI report sent Bitcoin (BTC) briefly back as high as $70,000 as Fed rate cut bets surged.
US CPI 3.3% YoY EXPECTED 3.4% pic.twitter.com/i1m4k8Ul45
— GURGAVIN (@gurgavin) June 12, 2024
However, those Fed rate cut bets were then dampened by the Fed policy announcement. As per the bank’s new “dot-plot”, the median expectation amongst policymakers is for only one rate cut in 2024.
Back in March, the median of policymaker expectations was for three rate cuts this year.
So Fed dot plot:
No rate cut this year: 4 FOMC participants
One rate 1/4-point cut: 7 participants
Two rate 1/4-point cut: 8 participantshttps://t.co/pnJV01d3i4 pic.twitter.com/ezO0VY50Zj
— David Wessel (@davidmwessel) June 12, 2024
Bitcoin subsequently fell back as low as the $67,000s, though has since recovered to around $68,000.
Ethereum (ETH) was last just above $3,500, hovering above its lowest since mid-May.
Other major altcoins like Solana (SOL), Dogecoin (DOGE), XRP (XRP) and Cardano (ADA) were at or close o multi-week lows.
10x Research, in a recent note, remain bullish on BTC and recommend sticking with it. They note that BTC has tended to rally following softer-than-expected CPI releases recently.
#BREAKING: What last night's #CPI and #FOMC means for #Bitcoin ->
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