Following the dip caused by the Elon Musk vs. Trump fight, Bitcoin seemed to be back in action. The US and China talks in London further bolstered support for this cryptocurrency, pushing it beyond the $106K mark.
However, a correction set in within a few hours, leading to the BTC price hovering above the $105K mark again. The 1-hour chart shows Bitcoin opening below the 50 EMA and forming multiple consecutive red candles, which are clear signs of fear still lingering in the market.
CoinGlass also reveals that Bitcoin open interest has gone down by more than 1.5% in the last 24 hours on Binance. The heatmap shows that upwards of $110 million worth of cryptos were liquidated in the last 24 hours, with Ethereum leading the charge, followed by Bitcoin.
Add to that, the market sentiment has gone from greedy to neutral, showing that investors are being cautious.
However, all of this talk of intraday lows shouldn’t distract from the fact that Bitcoin could be the best crypto to buy now, as some analysts have even said that Bitcoin has already broken its 2-week downtrend. Does that mean further highs will be coming for Bitcoin?
$106K Is the Key Resistance for BTC – Analyst
The analyst in question is Rekt Capital, who posted his analysis on Twitter a few hours ago, stating that Bitcoin is currently challenging the resistance mark around $106.6K. A move beyond that will confirm his bullish bias.
He also added that Bitcoin has started to show signs of breaking the 2-week downtrend. With that, he expressed his belief that by the end of the day, it is possible for Bitcoin to form a support around that level and reach for new highs.
Institutional Momentum Has Also Been a Positive for Bitcoin
Beyond the technical analysis that shows Bitcoin potentially reaching new upsides, institutional momentum continues to be in full swing.
MetaPlanet, one of Japan’s biggest BTC players, has recently issued 555 million shares of Moving-Strike Warrants. The expected proceeds of this move could be $5.8 billion, which will be used to buy additional BTC.
And the “Bitcoin Prophet,” Michael Saylor, has also made headlines with his recent announcement. His post, “send more orange,” has been taken by many as a sign that MicroStrategy will be making another Bitcoin play soon.
Bitcoin’s Big Recovery After Elon-Trump Triggered Dip – Is it the Best Crypto to Buy Now?
The 1-hour chart on TradingView shows that Bitcoin has been able to recover by more than 5% following the Trump-Elon-war-triggered dip. This was clearly the result of a panic rally among Bitcoin purists harboring ever-bullish sentiment around the crypto.
However, the price action has been at a standstill. While it is accumulating and critical resistance levels are being tested, repeated institutional plays for Bitcoin might not make such a big impact anymore. The nascent news of institutions coming in to invest in Bitcoin is not budging the market as much as investors would have hoped.
So, the question is: is Bitcoin still the best crypto to buy now?
The answer is not cut and dry. While institutional investment is being commended on one hand, the market sentiment remains neutral. And while the current accumulation range generates hope for further upsides, investors should expect minor corrective movements as well.
The bottom line is that there is not much going on within the market right now for investors looking for short-term parabolic profits. Long-term holders, however, could think of it as a smart investment, as major-league players—from Ark Invest to Arthur Hayes—believe that “Orange has become more valuable than gold and $1 million could happen soon.”
Best Crypto to Buy Besides Bitcoin Right Now
For those who can afford and hold BTC, the apex crypto seems like a smart play. However, for investors looking for more nuanced ecosystems that blend the promise of long-term profits and short-term surges, the following ICOs could be considered even better investments.
BTC Bull
The most obvious investment option besides Bitcoin is a meme coin that creates a community of bulls around it.
BTC Bull’s core essence is its simplicity. There are no long-term promises of use cases that may never emerge, and there isn’t any exaggerated long-term potential. The only aspect moving this crypto forward is its focus on creating a social movement.
The conventional meme aspect of the crypto is already there. A bull stands at the center with its cartoonish imagery and a positive viewpoint around Bitcoin. The posts change every day, highlighting different aspects of the bull market. This has been done to make the community more Bitcoin-focused.
But beyond the memes, BTC Bull has established strong use cases, with a sharp focus on bringing to light its mechanics. Token burns and Bitcoin airdrops—both of them will happen when Bitcoin reaches a certain level of growth. With these mechanics unlocking as the BTC price hits new highs, a symbiotic relationship could be established between the two cryptos.
For BTC Bull, this could lead to following Bitcoin’s growth trajectory, and for Bitcoin, it could mean access to a wider community of holders not concentrated solely on whales. True aspects of crypto democratization have been subtly explored by this project, which could lead to BTC Bull becoming a strong Bitcoin-themed meme coin.
BTC Bull has been able to raise close to $7 million to date, showcasing that even though its fundamentals are simple, it still has a community of interested parties.
Additionally, crypto analysts such as Crypto ZIP have also shown appreciation for what this project could offer to the wider cryptocurrency community. Overall, BTC Bull is a Bitcoin-themed meme coin that could get a large following upon launch, leading to an explosive debut on exchanges.
Bitcoin Hyper
While BTC Bull presents itself as a meme-only option for Bitcoin enthusiasts, Bitcoin Hyper, despite having “hype” in the name, primarily focuses on introducing new use cases within the ecosystem.
The official whitepaper describes it as the world’s first L2 solution for the Bitcoin network. It addresses key shortcomings that, despite Bitcoin’s popularity, continue to remain within its ecosystem. These include high transaction fees and slow speed.
In the long term, Bitcoin Hyper’s view is that these shortcomings could stymie Bitcoin’s growth as far as innovation is concerned. With Bitcoin Hyper, however, these issues are addressed using three technologies: the L2 Scaling Solution, the Solana Virtual Machine, and the Canonical Bridge.
The L2 Scaling Solution is implemented through ZK Rollups running parallel to the main network, enabling off-chain transactions that can then be loaded onto the main chain. Maintaining this network is Bitcoin Hyper’s integrated Solana Virtual Machine, which also bestows other perks, such as DeFi applications and developer tools within the ecosystem.
Since these two facilities could only be established through a proper connection between Bitcoin Hyper’s L2 chain and the Bitcoin network, a Canonical Bridge has been set up.
The technical aspects of the project are complex and focus sharply on the upsides of what could happen if the Bitcoin ecosystem had more facilities.
To drive the point home, Bitcoin Hyper also relies on superhero-Pepe-like imagery, using memes as part of its communication strategy.
But why is this a strong investment to pick besides Bitcoin? It is an ICO, which means profit-takers can gain by becoming early movers. Secondly, its use cases, although not entirely unique, do have weight. There have been a few meme coins that provided strong use cases underneath, and Bitcoin Hyper could be one of them.
SUBBD
Bitcoin’s stagnation could be attributed to a lack of strong utility. However, considering the Ethereum price action is also stalled, the reasons become a bit blurry. It is the lack of clarity around use cases, perhaps, that often limits ETH to those who really understand the underlying technology.
Therefore, those seeking cryptocurrency projects with simpler use cases could find solace in Web3 initiatives like SUBBD.
The official website describes SUBBD as an AI agent creator platform, with tools available for creating an AI influencer on the platform. A deeper analysis of the project, however, reveals that the AI influencer ecosystem is an upcoming one. For now, the focus is on providing AI-driven tools to content creators to help them take care of administrative tasks without needless charges.
These administrative tasks, when they arrive, will be handled through an AI personal assistant, allowing content creators to automate interactions and handle custom requests as well.
Since the SUBBD ecosystem is rooted in creator-fan interaction, the SUBBD token will also provide fans with access to exclusive content from their favorite creators.
Much attention has been given to the ChatGPT-style content modifier that has been showed off via SUBBD’s official Twitter account, which primarily focuses on fan-creator collaboration.
When one factors in the richness of the core systems SUBBD is trying to bring to the forefront, it is easy to consider how it could be one of the best investor picks today.
Its content creation has viral potential, and the content creators it has onboarded have given it access to an audience of over 250 million. Overall, SUBBD has a pre-made audience that could help it grow in value.
Conclusion
With the BTC price now stalled, the market can go in any direction. There has been much action as of late, and institutional play isn’t generating as much buzz as it used to. That said, Bitcoin still remains a good buy, thanks to how governments around the world have started to adopt it.
Additionally, major players hold a strong belief that Bitcoin could reach new highs, and that’s where this “best crypto to buy now” list gets interesting. With one meme coin that leverages Bitcoin’s speculative nature (BTC Bull) and one utility token that envisions Bitcoin as a host of blockchain innovation (Bitcoin Hyper), this list presents assets that could gain momentum regardless of the prevailing market narrative.
In simple terms, the possibility that these tokens could generate profits for early movers is high, even if the broader market remains uncertain.
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