Following the release of the latest US Core PCE inflation data, major cryptocurrencies have faced sell pressure, prompting traders to explore alternative coins showing strong bullish momentum. Bitcoin (BTC) experienced a slight decline to $67,000, while most other major cryptos remained relatively flat or traded slightly negative, contributing to subdued sentiment as US equities also dipped.
US Inflation Figures and Market Interpretation
Despite the US inflation figures indicating a continued trend of disinflation, with core PCE at 0.2% MoM in April, economists interpreted the data as potentially supporting future Fed interest rate cuts. This analysis has influenced market sentiment, with expectations of further monetary policy adjustments later this year.
Top-Performing Altcoins: Opportunities for Investors
Several altcoins showed significant gains on Friday, presenting potential opportunities for investors seeking the best crypto to buy now.
- JasmyCoin (JASMY): The decentralized Internet of Things (IoT) protocol surged by 9% in 24 hours, indicating robust momentum. Despite its current value of $0.0309, JASMY remains significantly below its late 2021 all-time high, suggesting potential for further growth.
- Beam (BEAM): The decentralized gaming network saw a 7% increase in the past 24 hours, driven by its listing on Upbit. With a market cap nearing $1.4 billion, BEAM presents the potential for substantial gains, possibly reaching a market cap of $5 billion or more.
- Pepe (PEPE): A leading meme coin, PEPE exhibited a 16% jump, eyeing a retest of its record highs. With a market cap of around $6.44 billion, PEPE could challenge established meme coins like Dogecoin, potentially offering significant returns in this bullish market.
As the cryptocurrency market navigates through fluctuations, investors actively evaluate opportunities in both Bitcoin and altcoins. While Bitcoin remains a popular choice for its stability and long-term growth potential, altcoins like JASMY, BEAM, and PEPE present compelling options for those seeking higher returns and have become the best crypto to buy now.
