Bitcoin experienced a 1.18% increase in the last 24 hours, which allowed it to move past its $106K barrier. The momentum is high enough for the world’s largest crypto to hit $110,000 soon, according to Business Standard, as institutional interest is fueling the cryptocurrency market at an unprecedented level.
This is another piece of bullish news prompting investors to find the best crypto to buy now, since the BTC price surge will definitely push the entire cryptocurrency market in an upward direction.
“Bitcoin is Going through a Robust Upward Momentum thanks to Institutional Push” – Delta Exchange
Riya Sehgal, research analyst at Delta Exchange, noted that Bitcoin’s recent surge past $106,000 means the crypto is going through a solid upward momentum.
She highlighted that Bitcoin targeting the key resistance zones near $107,500 and breaking above the key support levels shows that there is potential to reach an all-time high.
“Institutional interest remains the key catalyst,” Riya added, “as evidenced by JPMorgan’s recent announcement to offer Bitcoin access via spot ETFs—a significant endorsement from a major traditional finance player—and Morgan Stanley’s similar moves.”
It is to be noted that a few days ago, JPMorgan’s CEO, Jamie Dimon, put up a bullish front, saying that clients of the bank can now buy Bitcoin.
“We are going to allow you to buy it,” he said at the bank’s annual investor day on Monday. “We’re not going to custody it. We’re going to put it in statements for clients.”
As Delta Exchange said, the push from traditional finance players will likely make Bitcoin a desirable asset for even the biggest skeptics within the industry.
Another major piece of evidence of institutional fuel pushing Bitcoin forward is the response to Bitcoin ETFs. These assets have seen five consecutive weeks of inflows, totaling over $600 million. BlackRock’s IBIT is leading that inflow.
Not Everything is Right on the Institutional Front
However, things are not all green when institutional interest in Bitcoin is considered. MicroStrategy—now Strategy—is facing a class-action lawsuit accusing it of misleading investors about the risks and profitability of its aggressive Bitcoin strategy during a critical growth phase.
The report came to light in the company’s filing with the U.S. Securities and Exchange Commission on May 19th, which highlighted that the plaintiff, Anas Hamza, alleges that MicroStrategy has violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.
Things are heating up on the institutional front, creating volatility for Bitcoin that suggests the BTC price will be pushed in a positive direction soon.
Bitcoin is currently trading just around the $107,000 level and has a market capitalization of $2.12 trillion. Only a surge of 2.12% would be enough for the BTC price to reclaim its all-time high, and if the bullish action continues, reaching $110,000 will not be so difficult.
Best Crypto to Buy Now – Institutional Interest in Bitcoin May Create Bullish Conditions for These Tokens to Grow
The focus of current institutions is to create a strong support around Bitcoin so that its growth could reach levels not seen before. And since the $110,000 level could become a reality within the next few days, the following tokens could also get swept by this storm to reach new highs.
BTC Bull – Bitcoin-Themed Meme Coin Most Likely to Explode After Listing
The institutional fuel pushing Bitcoin upward will definitely trickle into the meme coin market, causing it to experience explosive levels of gains. However, BTC Bull is a meme coin that could benefit the most from it.
As a meme coin designed specifically to follow Bitcoin’s bullish phase, BTC Bull has set up mechanics that could push its value higher as the BTC price breaks past new barriers.
The core of the project is the assumption that one day, Bitcoin will cross the $250K barrier. And to pay homage to that, BTC Bull will initiate token burns and Bitcoin airdrops multiple times as the world’s largest crypto crosses its key resistance points.
These levels are: $125K, $150K, $175K, $200K, $225K, and $250K. An ambitious assumption, but BTC Bull’s entire narrative is built around being bullish on Bitcoin. And considering the project has raised over $6 million already, it stands to reason that most bulls think the same way.
Jacob Crypto Bury, a popular crypto analyst on YouTube with over 56,000 subscribers, believes that Bitcoin is “so ready to hit $110,000”—and that means BTC Bull could see a major surge in value.
“While there is always a chance for the market to go down and retest $102,000, right now, the market is wild and anything could happen,” he said. “Bitcoin reaching $110,000 does not seem too unreal anymore.”
Best Wallet Token – Offering Investment Opportunities to Newcomers
As institutional interest pushes Bitcoin to new highs, even those who have been on the fence about crypto will want to step in. When that happens, these newcomers will require an optimal way to deal with the market without being overwhelmed by its complexities.
That’s when Best Wallet can step in to provide the perfect, accessible, and robust crypto storage and swapping solution.
Powered by the Best Wallet Token (BEST), Best Wallet is presented as an all-in-one solution for newcomers as well as veterans of the cryptocurrency market.
The product is suitable for storing and swapping crypto. However, thanks to the addition of OnRamper, users can also leverage Best Wallet to buy and sell crypto using fiat.
Additional tools like staking keep this ecosystem equipped to provide passive earning opportunities. And since Best Wallet Token is also a DAO crypto, the product will likely evolve with time.
While upcoming developments like portfolio management and market insights assessment are keeping people excited, what makes Best Wallet truly special is its token launchpad.
This launchpad, which was previously known as “Upcoming Tokens,” is a way for investors to buy crypto ICOs ahead of everyone else. It promises to let BEST holders find crypto ICOs while they are at their “zero stage.”
Security-wise, too, the platform is optimal. Going for accessibility and security instead of complexity, Best Wallet Token allows users to access the wallet using the standard “two-factor authentication” model.
Due to the facilities the token gives access to, YouTube analysts such as Alessandro De Crypto have called Best Wallet Token the #1 coin to buy now.
Solaxy – Solana-Based Meme Coin and Potentially the Biggest Meme Coin Presale
Bitcoin’s surge due to massive institutional interest has also funneled toward Solana, which is now trading closer to the $170 level at the time of writing.
However, despite the many positives of Solana, its expansion has led to the emergence of major questions around its scalability.
Downtimes, network congestion, and hacks—these were just some of the issues it has dealt with in the past. And while Solana devs are coming up with new innovations to curtail these problems, a proper L2 solution is still missing.
Solaxy is a project that has emerged to fulfill that role. It is the world’s first L2 solution for the Solana chain, the website claims. It aims to tackle the network congestion issues of Solana using off-chain transactions powered by ZK Rollups.
Maintaining the health of this L2 layer is Celestia, and since proper implementation would require a way to seamlessly transfer a token from one chain to the next, Solaxy has also employed Hyperlane technology.
These developments have already set Solaxy apart from standard Solana-based projects. However, despite offering robust perks, Solaxy proudly accepts itself Solana-based meme coin.
To reinforce the idea that it is a meme coin with a dash of proper utility, Solaxy has created comedic images of some of the brightest minds, showcasing its “not-so-serious” approach.
The community has responded positively to this strategy, leading to Solaxy raising upwards of $38 million to date.
The goal of the project is to raise more than $74 million. This news has emerged from 99Bitcoins, a popular team of cryptocurrency analysts who also believe that Solaxy could be the next 100x gem.
Furthermore, if Solaxy is able to raise over $74 million during the remainder of its presale, it could become the biggest meme coin presale to date.
Final Words
Bitcoin’s march to $110,000 has institutional investors to thank. And while this growth has instilled in the cryptocurrency community a new level of confidence, it also means that Bitcoin and other high-cap tokens are almost beyond the scope of most retail investors.
For them, the best crypto to buy now exists on the low-cap side of the aisle. Thankfully, due to the use cases these tokens represent and the unique imagery they have portrayed on social media, these assets could experience an explosive debut once they are live on a cryptocurrency exchange.
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