Bitcoin is once again grabbing headlines as it defends a crucial support level and sets its sights on a monumental price target. Following strong market resilience, Bitcoin targets $132K milestone after defending $118K support, signaling renewed investor confidence and broader market momentum. As macroeconomic conditions evolve, particularly with the M2 money supply reaching an all-time high, many crypto investors are searching for the best crypto to buy now. This article explores what these developments mean for Bitcoin and highlights key altcoins worth considering in today’s dynamic environment.
Bitcoin Maintains Strong Technical Position
Bitcoin’s ability to defend the $118,000 support level has reinforced bullish sentiment across crypto markets. This support zone served as a critical psychological and technical floor that, once held, paved the way for a renewed price push. Analysts now eye $132,000 as the next potential milestone for BTC, driven by institutional accumulation, increased investor interest, and a favorable macro backdrop including inflation concerns and heightened fiat liquidity.
Macro Drivers: M2 Money Supply Hits ATH
Recent data reveals that the M2 money supply—representing the total amount of liquid money in the U.S. economy—has climbed to an all-time high (ATH). This surge suggests continued monetary expansion, which often leads investors to seek hard assets like Bitcoin as a hedge against currency devaluation. The rising M2 further supports the narrative of Bitcoin as digital gold, with more institutional actors positioning BTC as a long-term store of value. As such, the increased liquidity in fiat markets may indirectly fuel further crypto adoption and price appreciation.
Best Crypto To Buy Now As M2 Money Supply Hits ATH
While Bitcoin remains a cornerstone of many portfolios, its recent price action has also sparked interest in promising altcoins as investors diversify. Here are a few cryptos gaining traction in this environment:
Ethereum (ETH): With the upcoming network upgrades and broader DeFi and NFT ecosystem, ETH remains a strong contender for long-term growth.
Solana (SOL): Known for its speed and scalability, Solana continues to attract developers and investors, particularly in the NFT and gaming sectors.
Chainlink (LINK): As decentralized finance grows, Chainlink’s oracle solutions are becoming increasingly vital, making LINK a practical addition to diversified crypto holdings.
99Bitcoins Token (99BTC): With strong fundamentals and community backing, 99BTC is emerging as one of the best crypto to buy now, especially as traders look for undervalued gems in an overheated market.
Outlook for the Months Ahead
As the market digests the implications of a record M2 and macroeconomic uncertainty, Bitcoin’s strong technical posture provides a reassuring signal. Targeting $132K after defending $118K support marks a pivotal moment in its 2024 trajectory. Furthermore, increased liquidity and a favorable regulatory environment may act as tailwinds for the broader crypto sector. Investors would do well to keep an eye on both leading and emerging digital assets to capitalize on ongoing trends.
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