After a whole week of hanging around the $107K level, the Bitcoin price has finally crossed its previous resistance and moved above the $109K mark. This surge comes as positive news of the BlackRock ETF, improving geopolitical conditions, and a weakening dollar floods in.

But does that make Bitcoin the best crypto to buy now?

Bitcoin Finally Above $109K – What’s Next?

Bitcoin’s major pump of over 2% in the last 24 hours happened only recently, which has pushed it on the path of reaching its ATH levels again. While the price analysis shows that it is still pretty much within the “macro consolidation zone” between $100K and $112K, hope remains that the apex crypto could climb higher and potentially reach even new highs.

Helping BTC reach unprecedented heights is the heightened institutional interest, as well as improving geopolitical conditions.

In the case of an ETF, for instance, BlackRock’s iShares Bitcoin Trust ETF (IBIT) has recently acquired upwards of $3.85 billion worth of Bitcoin in June, which happened shortly before it set a record by marking a 15-day inflow in all of its trading sessions.

Sosovalue shows IBIT’s cumulative net inflow as of July 2 is $52.42 billion, followed by FBTC’s $11 billion, ARKB’s $2.59 billion, and BITB’s $2.20 billion. The only outflow was noted by Grayscale’s GBTC, which is $23.33 billion.

The last recorded daily net inflow was about $407 million.

Source: SoSoValue

Geoffrey Kendrick, global head of crypto research at Standard Chartered, says that as treasuries buy more BTC, a positive driver for Bitcoin could be created, leading it to reach new highs. He estimates that by the second quarter of this year, over 245,000 BTC will be absorbed by spot ETFs and institutional buyers.

In terms of macroeconomic factors impacting the BTC price, Kendrick says investors should keep an eye on three main levers: the announcement of Powell’s successor, adoption of the bipartisan GENIUS stablecoin law, and increased BTC buys by sovereign states.

Is Bitcoin the Best Crypto to Buy Now?

One of the questions that BTC’s rise has now caused to emerge is whether Bitcoin is the best crypto to buy now. A legitimate line of questioning, it stems from the increased market volatility and Bitcoin’s continued rejection around the $110K mark.

For analyst Ali Martinez, it is a matter of Bitcoin’s resilience around the $109K level. In one of his latest tweets, the crypto analyst said that the daily chart of BTC looks promising. And if Bitcoin is able to close above $109K, doors will open for its rally to the $118K level.

So, yes, it looks like Bitcoin could be counted among the best crypto picks for smart investors. That being said, traders should be wise about it since Bitcoin has continued to show volatility, refusing to move above its recent highs. The same could happen again if even a single speck of bad news arrives, whether from the regulatory front or the crypto front. Therefore, they should also focus on smarter picks, such as crypto ICOs.

Best Crypto to Buy Now – Top 3 Picks For Investors

Bitcoin’s current price could deter many from investing, unless they are willing to own a fraction of an asset. For those looking for the whole token, better options could be found among the ICOs that could grow from Bitcoin’s growth.

Bitcoin Hyper

The first pick as the best crypto to buy now is Bitcoin Hyper. It is a simple meme coin on the surface, showcasing a Pepe dressed as a superhero, trying to look for that next hype. However, as investors dive deep into the project, they see an initiative trying to do something unique with the Bitcoin ecosystem.

Developed on the Solana blockchain, Bitcoin Hyper aims to provide an L2 scaling solution to the Bitcoin network. Its goal is to bring BTC out of its standard “store of value” use case and make the Bitcoin network capable of handling smart contracts.

The L2 scaling solution at play could facilitate off-chain transactions within the Bitcoin ecosystem, according to $HYPER’s whitepaper. Furthermore, integrated with Solana Virtual Machine, Bitcoin Hyper is laying the groundwork for more decentralized applications to be developed within the ecosystem.

And since materializing this vision would require a strong bridge, Bitcoin Hyper has come up with something called a canonical bridge.

All the docs highlighted within the official website show that Bitcoin Hyper’s approach isn’t merely to market the utility in hopes of making short-term gains, but has actual substance to it. Furthermore, this has helped raise the project upwards of $1.8 million already, making it a strong ICO to pick.

Token6900

The volatile cryptocurrency ecosystem has put Bitcoin in a place where one tweet can create bull traps and one war could push the BTC price into the five-digit zone. This erratic nature of the cryptocurrency market has been highlighted well by Token6900, a cryptocurrency project that revels in the lack of any use case.

Wrapping up the entirety of its messaging inside a nostalgic website that gives off the vibe of Windows 95, Token6900 stands as a singular project that could go against the likes of SPX6900, a similar project with a great approach to memes.

Token6900 shows from the very start that it is trying to one-up SPX6900 in multiple ways. The memes are more outlandish but direct. The themes are more relatable, and the tokenomics show that it only has one more token than SPX6900.

A purely speculative asset by design, it mirrors Bitcoin in many ways—not as a store of value, but as an asset that moves according to the whims of the community and could either disappear within a few weeks or continue to stand strong as the community keeps growing and the memes keep coming. And the music video accompanying the project is catchy too.

Even reaching 100x may be possible for this project—at least, that’s what Cryptonews believes.

A bunch of other analysts on YouTube have the same thought about this project. Its speculative nature makes it risky, but it also gives it the essence of high rewards, and that’s what the community has always asked for.

BTC Bull

Bitcoin’s growth could definitely shine more light on the meme coin market and could propel it to new heights. This is not just a theory, but something that has happened in the past and is happening right now. The cumulative meme coin market cap has gone up by more than 8% in the last 24 hours already, and BTC’s growth has triggered an increase in trading volume by 70%.

However, this approach to growth is too non-direct and is not always predictable. BTC Bull adds an element of certainty to this growth by tying some of its own mechanics with Bitcoin crossing certain thresholds.

For instance, when Bitcoin crosses the $125K mark, BTC Bull will trigger a token burn to limit its supply, supplementing its growth potential through a supply-demand mechanic. And when BTC reaches $150K, a Bitcoin airdrop event will happen. These will continue until the BTC price reaches $250K.

While this approach is quite “on the nose,” it could be considered effective—especially when we take into account BTC Bull’s community-driven approach. Its message is clear, which is to bolster more attention for Bitcoin and use it as support to pull itself upwards. This honesty makes BTC Bull a one-of-a-kind project, which could have large potential upsides, provided that its social media following keeps growing.

Furthermore, the first burn has already started with the presale ending, with only leftover tokens available for purchase.

Summary

Oftentimes, investors will come across the opportunity to dive into a major crypto after seeing major growth, which is relatively higher. However, given the market conditions and the fact that the BTC price has been rejected multiple times at the same level as it stands today, the current price action could be considered a bull trap.

Even if it isn’t, investors should be mindful with their investments and focus on ICOs with potential for bigger gains. The options mentioned in this article are relatively simple, with Bitcoin Hyper promising long-term gains, while the other two could surge in the short term. However, for traders looking for parabolic price action, these investments could be considered a steal.

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