The cryptocurrency market saw a mixed session with major cryptos such as Bitcoin and Ethereum unwinding recent gains, while Solana remained relatively stable. The focus was on the approval of spot Ethereum ETFs by the SEC, with potential approval of 19-4b applications paving the way for ETF launches in the near future. Additionally, comprehensive crypto legislation secured a bipartisan majority in the US House, signaling progress for the industry. The market’s near-term trajectory is likely to remain bullish, with Bitcoin potentially retesting yearly highs near $74,000 and Ether trading back above $4,000.
Investors looking for the best crypto to buy now may need to be selective in their search for near-term gains. Ethereum is poised to receive an important regulatory green light, with a decentralized options market suggesting a 20% chance of ETH hitting $5,000 by the end of June. While Bitcoin remains the undisputed king of crypto, Ether has the potential for significant gains as it is currently trading over 20% down from its 2021 highs. For investors chasing higher and faster gains, smaller and lesser-known altcoins may offer opportunities higher up the risk curve.
Several altcoins showed strong performance on Wednesday, potentially making them the best crypto to buy now. Dogwifhat (WIF) was up 7.6% in 24 hours and showing resilience in a market decline. Bittensor (TAO), an exciting AI coin, has short-term momentum and could see a rise back to yearly highs above $750 if it breaks above its 50DMA. Dogecoin (DOGE) has formed an ascending triangle and is threatening a bullish breakout, with potential for a quick 40% gain if it pushes above $0.17 resistance.
For investors seeking bigger gains in the crypto market, getting in early on newer coins with lower market caps could provide opportunities for significant returns. Presale investing in Web3 startups is one strategy for risk-tolerant investors looking to add upside exposure to their portfolios. However, with many presales available, it can be challenging to know where to start. Analysts at Cryptonews compiled a list of their top picks for the best crypto presales to invest in now, offering potential opportunities for investors looking to capitalize on the high-risk, high-reward nature of the cryptocurrency market.
