Best Crypto to Buy Today 7 March – FGHT, MANA, CCHG, GMX, TARO, RIA
The cryptocurrency market has experienced minimal activity and lackluster performance in recent days as US regulators continue to target crypto companies and fiat onramps and offramps into crypto are disrupted. Meanwhile, the crypto and other risk asset markets are responding to Jerome Powell's less than bullish comments to Congress about the economy and interest rate policy.
How might this impact the selection of the best cryptos to buy today?
Bitcoin and Ethereum have seen a decline of 1.02% and 1.05%, respectively, today, bringing their prices to $22,338 and $1,561.
As the market responds to ongoing economic revelations, investors and traders are keenly anticipating upcoming economic data and Fed policy updates. Powell is scheduled to speak before the House Financial Services Committee on Wednesday, which may fuel further market action.
Several analysts have warned that negative headlines have dented market optimism and that the worst may not yet be over, with any rebound potentially leading to a significant correction.
CryptoQuant analysts have released data suggesting that the current funding rates of digital assets are indicative of a bearish market, indicating that further declines could be imminent.
Although some Federal Reserve members would prefer to remain at the current 25 basis points raise, other policymakers are willing to consider higher increases. According to CME's FedWatch tool, the chances of a 50-basis point rise on March 22nd are estimated to be approximately 29%.
Nevertheless, the impending employment report on Friday could drastically alter this picture and render prior forecasts irrelevant.
Investors in the cryptocurrency market are currently in a state of uncertainty, with the Federal Reserve's future
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