Bitcoin (BTC) has demonstrated significant upward momentum recently, breaking out of its consolidation triangle and surging by almost 8% over the last three days.

Today’s BTC/USD chart shows that the price has surpassed $60,000 as Bitcoin trades at $63,108 at press time.

Several bullish drivers have been identified for this recent price movement. The weakening US Dollar, influenced by slowing inflation and high expectations of a Federal Reserve rate cut as early as September, has played a significant role.

Additionally, substantial inflows into Bitcoin ETFs, reaching approximately $300 million last week, continue to provide strong support for the price.

Bitcoin’s price jumped following Saturday’s shooting at Trump rally in Pennsylvania. Many observers argue that the market might start to price in a potential Trump victory in November.

The attempted assassination of Donald Trump occurred approximately 8 hours ago, and crypto markets had an immediate reaction.

BTC rebounded as high as $60.3K, a 10-day high
TRUMP surged +63% as the news broke

Taking into account the serious matter of any assassination… pic.twitter.com/hUHKIhF5Zh

— Santiment (@santimentfeed) July 14, 2024

Looking at the technical analysis of the BTC/USD chart, the price is currently near $63,000, which may now serve as resistance after the bearish breakthrough in early July. Additional resistance at the $63,600 level could also test bullish confidence.

Given these factors, and considering the 8% rise over three days, a correction phase in Bitcoin’s price chart development may be a plausible short-term scenario as it encounters these resistance levels.

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

Mog Coin ($MOG)

$MOG is a community-driven meme token on the Ethereum blockchain and one of the best crypto to buy now. It originated from a group of Milady NFT enthusiasts who initiated the project through an equitable launch on Uniswap

Ive been holding $MOG since 4 hrs post launch. Ive tripled my stack over the past 3 mos.

Do you think im selling top of this accumulation range?

Do you think class of 2013-2016 OGs dont know how to exhaust jeets with patience while they crush off-chain for a bit?

Do you… https://t.co/N1InrILmRX pic.twitter.com/5dzmMn2vo4

— Doc τ 𐤊 ℵ Gemsly (@DrGemsly) December 3, 2023

The community-driven nature and connection to the popular Milady NFT ecosystem have been key drivers of $MOG’s value and adoption.

The $MOG token is currently trading at $0.00000205, marking a 20.13% increase over the past 24 hours, with a substantial trading volume of $49.5 million.

With a market capitalization of $767 million, $MOG demonstrates a strong presence in the market. However, the token is still 3.75% below its all-time high (ATH) of $0.000002202, reached in the early hours of today.

With this parabolic price action, traders might need to wait for a retest before accumulating the Mog Coin since it just set a new ATH today.

Its relative strength index (RSI), which holds at 67.38, is a jump from its previous 56.19 zone of 56.19, which affirms caution for investors

Notcoin ($NOT)

The $NOT token stands out among the best cryptos to buy now due to its recent price performance. Being a reputable token on the TON blockchain ecosystem, Notcoin leverages the Telegram-based gaming experience that has rapidly captured the attention of millions of users worldwide.

$NOT: This was 1 of the coins that led the rally in terms of coins rebounding despite a sketchy BTC environment.

If we see this continue further, I think that many other shitcoins follow. Other coins like TIA/DYM also are interesting (I have some TIA). pic.twitter.com/PZ7Em3wgJn

— Altcoin Sherpa (@AltcoinSherpa) July 15, 2024

This token currently trades at $0.016 per token and has recorded a 76.3% increase in value over the past 24 hours, backed by a trading volume of $397.8 million.

This indicates active market participation and liquidity, supported by a market capitalization of $1.65 billion.

Compared to Mog Coin’s price, the $NOT token’s value still shows room for more price uptrend since it trades 44.28% below its all-time high (ATH) of $0.02896, reached a month ago.

The technical analysis indicator RSI supports this, hovering at 58.53, a leap from 50.85, which indicates a gradual move towards a bullish zone.

VeChain ($VET)

Another best crypto to buy now is the $VET token, the native token of VeChain.

VeChain is a blockchain platform that enhances supply chain management and business processes through distributed ledger technology.

It aims to improve transparency, efficiency, and traceability across various industries.

This performance from $VET is actually astonishing.
Look at these numbers from them. 35%+ pump in the past 7 days, market cap is growing everyday and the volume traded in the last 24 hours is up by almost 50%. Nice little upward trend we have here. Currently resting in a big… pic.twitter.com/yOCKjapy5F

— Crypto Raven (@hiRavenCrypto) July 15, 2024

At press time, the $VET token trades at $0.033 and has recorded an 11.44% increase over the last 24 hours, boasting a market cap of $2.69 billion.

This recent price surge aligns with VET’s market RSI, which has risen from 76.63 to 81.76, indicating a potential move towards overbought territory despite recent fluctuations in the crypto market.

Similar to the growth potential seen in other blockchain ecosystems, the ongoing development and adoption of supply chain solutions within VeChain’s ecosystem are expected to drive further utility and potential price appreciation for VET.

Crypto Presales Presents the Best Alternatives

Certain cryptocurrencies, such as Mog Coin, Notcoin, and VeChain, present compelling best crypto to buy now due to their established presence, utility, and recent performance. However, investors seeking lower entry points might consider exploring crypto presales.

These presales offer discounted token prices before official exchange listings, potentially yielding favorable returns. Nevertheless, presales carry inherent risks, including possibly being used for fraudulent activities.

For those interested, Crypto News offers a curated list of vetted presale opportunities to aid in informed decision-making.

As always, thorough research and caution are essential to mitigate the risks involved in trading cryptocurrencies.

14 Best Crypto Presales to Invest In Now

The post Best Crypto to Buy Now July 15 – Mog Coin, Notcoin, VeChain appeared first on Cryptonews.

Data shows the cryptocurrency derivatives market has registered significant liquidations after the Bitcoin rally above the $63,000 mark.

Bitcoin Rally Has Resulted In Short Liquidations On Derivatives Market

According to data from CoinGlass, the latest volatility in the cryptocurrency market has led to large liquidations on the derivatives side. “Liquidation” here naturally refers to the process that any open contract undergoes where its platform forcibly closes it off after it has amassed losses of a certain degree.

The table below shows how the derivatives liquidations have looked during the last 24 hours:

It would appear that the cryptocurrency derivatives market has registered total liquidations of $126 million in the past day. Out of these, almost $101 million of the contracts were short ones.

This figure is equivalent to more than 80% of the total, implying that these investors betting on a bearish outcome for the market were the most heavily affected by the latest volatility. This naturally makes sense, as assets across the sector have seen green returns in this window, led by Bitcoin’s rally.

A mass liquidation event like this latest one is popularly called a “squeeze“, and as shorts were the side that contributed to a majority of these liquidations, the squeeze would be known as a “short squeeze.”

During a squeeze, liquidations end up feeding further into the price move that caused them, thus unleashing a cascade of further liquidations. As such, the sharp price surge in the past day would in part be fueled by the short squeeze.

As for the breakdown of this latest squeeze for the various symbols, it would seem like Bitcoin has come out on top like usual with around $45 million in liquidations.

Ethereum (ETH) and Solana (SOL) have made up the rest of the top three with $24 million and $8 million in liquidations, respectively. Interestingly, while most of the sector has seen the dominance of short liquidations, XRP (XRP) on fourth has seen longs edge out instead. This may be down to the fact that the coin has overall only moved sideways while the rest have rallied.

BTC Has Managed To Reclaim The $62,000 Support Level

With the latest rally, Bitcoin has been able to make some significant recovery, with its price even briefly surging above the $63,000 level earlier in the day.

The chart below shows what the coin’s surge has looked like:

According to data from the market intelligence platform IntoTheBlock, Bitcoin is now floating above the significant on-chain support level of $62,000. “While resistance is strong above, enough bullish momentum can prevent selling pressure,” notes the analytics firm.