Best Crypto to Buy Today April 4 – Ethena, Bitcoin SV, Bitcoin Cash
With Bitcoin (BTC) eyeing a potential break back to the north of its 21DMA in the upper $67,000s as US stocks rise and the US dollar declines, investors looking for the best cryptocurrency to buy today are scouring the altcoin market for opportunities.
Bitcoin is attempting to erase weekly losses, as macro investors mull the outlook for interest rate cuts this summer. It was last down 5% on the week.
US economic data has been mixed so far this week, but largely supports the notion that the labor market and economy remain robust.
That’s kept traders worried that the Fed might not cut interest rates as soon as hoped (i.e. June). But Fed Chair Jerome Powell’s comments on Wednesday seemed ease these concerns somewhat.
Attention now turns firmly to Friday’s US jobs report. The US economy will have added a robust 200,000 jobs in March, according to the median projection of economists polled by Reuters.
Should this data surprise to the downside, Bitcoin could well vault back above $70,000 as rate-cut bets strengthen.
Indeed, the theme of rate cuts later in 2024 is set to remain a long-term tailwind to the Bitcoin market. The upcoming halving and ongoing spot Bitcoin ETF demand are also likely to continue supporting the price.
Bitcoin remains on course to test $100,000 in 2024, making it a strong candidate for best crypto to buy today.
But investors looking for gains in the region of 5-10x will need to target smaller, lesser-known altcoins.
Here are some strong-performing altcoins on Thursday that could be candidates for the best crypto to buy today.
Tokenization protocol Pendle (PENDLE)’s token is pumping on Thursday, last up more than 12.5% in 24 hours as per CoinMarketCap.
PENDLE was last changing hands in the $5.50s and approaching a
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