Best Cryptocurrencies to Buy Today, Feb 3 – BTC, OM, FARTCOIN
Highlights:
- The best cryptocurrencies to buy today include Bitcoin, Mantra, and Fartcoin, each showing unique market opportunities despite volatility.
- Bitcoin remains a hedge against currency devaluation amid new U.S. tariffs, driving increased trading volume and interest.
- Mantra and Fartcoin show bullish momentum, with OM nearing $6 resistance and FARTCOIN eyeing a potential breakout.
The crypto market has kicked off the week on a bearish note following Donald Trump’s announcement of new tariffs on Canada, Mexico, and China. The announcement led to a broad market decline, with the overall market cap dropping 7% to $3.12 trillion while the 24-hour trading volume surged to $330 billion.
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Amidst the broad market sentiment, crypto liquidations have hit over $2.32 billion in the past 24 hours, with $1.92 billion in long positions and $393 million in short positions. In addition, Bitcoin dropped below the $91k level while most altcoins recorded double-digit losses.
Despite the setback, let’s take a look at the best cryptocurrencies to buy today, such as Bitcoin, Mantra and Fartcoin.
Best Cryptocurrencies to Buy Today
1. Bitcoin (BTC)
The largest asset, Bitcoin, is trading at $95,423 after recovering from $91k levels last seen on January 13. The pullback has led to a decline of 3.60% in the past 24 hours. BTC has declined by 5% and 3% on the weekly and monthly charts, respectively, solidifying the bearish sentiment. Furthermore, its market cap dropped to $1.89 trillion while the trading volume surged by 170%, indicating increased market activity.
According to Jeff Park of Bitwise, tariffs imposed under Trump’s policies could increase Bitcoin prices. In this senario he claims that these measures are to cheapen of the US dollar hence making the exports cheaper. This mirrors the Plaza Accord of 1985 where the dollar was devalued to solve trade issues. The same can positively boost the adoption of Bitcoin as an alternative asset.
This is the only thing you need to read about tariffs to understand Bitcoin for 2025. This is undoubtedly my highest conviction macro trade for the year: Plaza Accord 2.0 is coming.
Bookmark this and revisit as the financial war unravels sending Bitcoin violently higher. pic.twitter.com/WxMB36Yv8o
— Jeff Park (@dgt10011) February 2, 2025
High tariffs may also bring inflation, such as the increase in prices for imported products. Many nations that deal with the US could be faced with a weakened currency and less purchasing capability. Holding Bitcoin as an asset may be attractive when fiat currencies devalue. Gold has always been a safe-haven, but Bitcoin provide an unprecedented digital base for the same. This change places Bitcoin among the best cryptocurrencies to buy today.
2. Mantra (OM)
Mantra has shown a remarkable journey recently, surging by over 30% in the past month. Amidst the broad market decline, the altcoin has surged by 3.20% to trade at $5.75 in the past 24 hours. The bullish momentum has elevated its market cap and trading volume to $5.05 billion and $420 million, respectively.
OM’s strong momentum suggests it could reach $6.50, supported by bullish trends and ongoing interest in RWA narratives. The price shows potential for higher highs, with consolidation likely before another surge. The 20-day EMA is trending upwards, suggesting a continued bullish momentum, while the RSI is approaching the overbought zone.
With strong price performance, OM is becoming one of the best cryptocurrencies to buy today for traders seeking potential returns. A breakout above $6 could lead to further gains, reinforcing its growth trajectory.
3. Fartcoin (FARTCOIN)
Despite trading on a continuous downtrend recently, FARTCOIN exhibits a bullish trend and has surged by 18% today. As of this writing, the AI-based memecoin is trading at $0.70, with its market and trading volume at $692 million and $676 million, respectively.
Fartcoin has entered a key interest zone in the daily chart. Despite dropping 74% from its all-time high, FARTCOIN is poised for a major move and could rally above the resistance at the $1.30 mark. A break above this resistance zone could lead to a rally past the next resistance zone at the $1.6 mark.
Furthermore, the Relative Strength Index (RSI) indicator hovers in the 40 indexes, nearing the oversold region. Should the bullish momentum hold, the RSI could climb above the neutral region, leading to a rally in FARTCOIN’s price.
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Raymond Munene
Raymond Munene is a crypto content writer who contributes to Crypto2Community. With over three years of experience, he is interested in Bitcoin, Blockchain, and Technical Analysis. Focusing on daily market analysis, his research helps traders and investors alike. His particular interest in cryptocurrency and blockchain aids his audience.
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