Bitcoin (BTC) reached $59,000 early Wednesday before experiencing a brief dip. As of this writing, it trades at $58,639, reflecting a 2.12% increase from the previous day.

The inflow of $294.8 million into Bitcoin spot ETFs yesterday suggests growing investor confidence, potentially foreshadowing a short-term price increase for Bitcoin.

Bitcoin ETF Flow (US$ million) – 2024-07-09

(Provisional data)

IBIT: 121
FBTC: 91
BITB: -4.7
ARKB: 43.3
HODL: 3.3
GBTC: -37.5

For all the data & disclaimers visit:

— Farside Investors (@FarsideUK) July 10, 2024

However, recent data from Arkham Intelligence reveals that the German government transferred 5,853.5 BTC, worth $343.91 million, earlier today.

The Bitcoins were moved from its wallet to cryptocurrency exchanges Kraken, Cumberland, and 139Po (likely an institutional deposit/OTC service).

JUST IN: German Government selling up to 5103.5 BTC ($299.85M)

In the past 15 minutes, the German Government has sent 5103.5 BTC ($299.85M) to Kraken, Cumberland, Flow Traders, Coinbase, 139Po (likely institutional deposit/OTC service) and address bc1qu.

Since yesterday’s…

— Arkham (@ArkhamIntel) July 10, 2024

This substantial transfer could amplify selling pressure on BTC, potentially fostering uncertainty among traders.

Despite the current challenges in the BTC market, we’ve compiled a list of alternative cryptocurrencies that have demonstrated resilience and impressive price gains over the past 24 hours.

Celestia ($TIA): Soaring RSI Hints at Bullish Reversal

$TIA, the native currency of Celestia, operates on a network platform designed to enhance blockchain scalability through its data availability layer.

Celestia enables more efficient and scalable blockchains by separating consensus and data availability.

This foundational approach contributes to $TIA’s value within the cryptocurrency space.

Currently trading at $6.86, the $TIA token reflects a 7.61% increase over the past 24 hours, demonstrating considerable trading volume at $252.8 million.

A market capitalization of $1.33 billion also indicates strong liquidity for $TIA.

$TIA is up 7.61% in the past day. Source: CoinMarketCap

However, $TIA currently sits 67.58% below its all-time high (ATH) of $20.91, reached on February 10, 2024.

This decline, while potentially concerning for traders, indicates strong recovery potential for $TIA.

This potential is evident in its relative strength index (RSI), which currently sits at 52.36, a notable increase from its previous bearish zone of 35.76.

$TIA RSI is at 52.36. Source: TradingView

With an RSI of 52.36, $TIA’s increasing RSI suggests a potential reversal towards an upward trend, aligning with its 15% price increase over the past seven days.

Bittensor ($TAO): Strong Fundamentals Drive Double-Digit Gains

Due to its recent price performance, the $TAO token stands out among the best crypto to buy now.

As the native cryptocurrency of Bittensor, a platform facilitating decentralized blockchain-based machine learning networks, $TAO utilizes protocols designed to enhance scalability and data processing efficiency.

Trading at $263.52 per token as of writing, $TAO is up by 10.35% so far today, supported by a considerable trading volume of $66.84 million.

These factors indicate active market participation and liquidity, further supported by a market capitalization of $1.86 billion.

$TAO is up 10.35%. Source: CoinMarketCap

$TIA’s lower price point could present a more accessible entry point for investors with budget constraints, compared to $TAO.

Trading 65.51% below its all-time high (ATH) of $767.68, achieved on April 11, 2024, $TAO could present an opportunity for those seeking value investments.

An analysis of its fundamentals, coupled with its recent positive price trends, suggests the potential for price recovery.

Supporting this potential is the technical analysis indicator RSI, currently at 42.21, reflecting a significant increase from 34.02 and potentially indicating a gradual move towards an overbought zone.

$TAO RSI indicates an incoming overbought zone. Source: TradingView

Should Bittensor’s utility-based applications continue to expand, $TAO is well-positioned to benefit, potentially attracting investors seeking exposure to blockchain technologies with growth potential.

Optimism ($OP): Bullish Signals and Price Momentum – Could This Be the Best Crypto to Buy Now?

The $OP token, the native currency of Optimism, is also experiencing a period of growth and warrants consideration for those seeking the best crypto to buy now.

Optimism, a layer-2 scaling solution for the Ethereum blockchain, strives to enhance Ethereum’s scalability by facilitating faster and more cost-effective transactions through its optimistic rollup technology.

$OP trades at $1.63 as of writing. This price point is notably lower compared to both $TIA and $TAO.

Over the past 24 hours, $OP has seen a 7.10% increase in price, accompanied by considerable trading volume of $203.4 million and a market cap of $1.82 billion.

$OP is up 7.10% in the past day. Source: CoinMarketCap

This recent price surge aligns with $OP’s market RSI, which currently sits at 43.98 after rising from 34.46. This suggests a potential move towards bullish territory despite recent downturns in the crypto market.

56.6% of all L2 throughput is powered by the Superchain, built on the OP Stack.

That’s not counting Blast, Mantle, Manta, and others using OP Stack but not sharing revenue with the OP Collective like those in the Superchain

73.92% of all L2 throughput is powered by OP Stack.

— Ryan Wyatt (@Fwiz) June 25, 2024

The ongoing development and adoption of Layer-2 solutions and chains within Optimism’s ecosystem, much like the potential observed within the $TAO ecosystem, could contribute to price appreciation for $OP.

For those seeking investment opportunities at an earlier stage, crypto presales offer a chance to acquire tokens at a discounted price before they hit the open market.

Crypto Presales Presents the Best Alternatives

While established crypto assets like those mentioned above stand out as the best crypto to buy now due to their robust fundamentals, utility, recent price performance, and positive technical indicators, investors exploring new opportunities with lower initial investment requirements may find crypto presales particularly enticing.

Crypto presales offer early investors the chance to purchase tokens at discounted prices before they are officially listed on major exchanges, presenting an opportunity to secure positions at favorable rates. However, the presale market involves risks, including potential scams that could result in significant financial losses without careful consideration. analysts have compiled a list of vetted presales with potential. This resource provides a guide for informed decision-making in the presale market.

14 Top Crypto Presales to Consider

The post Best Crypto to Buy Now July 10 – Celestia, Bittensor, Optimism appeared first on Cryptonews.