Crypto prices tumbled on Friday as the Triple Witching volatility spilled over from equities into digital assets.
Over $5 trillion worth of stock options and futures contracts expired during Friday’s quarterly triple witching. While U.S. equities managed to close in the green, crypto assets faced sharp rejections at key resistance levels and slid lower.
The Bitcoin price fell by over 2% from this week’s high, trading as low as $115,200. Altcoins are faring worse, with Solana meme coins among the worst performers on the day. Ethereum ecosystem coins like Lido DAO and Arbitrum also saw sharp declines.
However, experts remain confident that the crypto bull market isn’t over, and buying the dip remains the correct move. Majors like Dogecoin and Solana, mid-caps like Fartcoin and Pudgy Penguins and low-caps like Bitcoin Hyper continue to be among the best cryptos to buy now.
Why Is Crypto Down Today?
Crypto assets, particularly Bitcoin, continue to show a strong correlation with the US stock market.
On Friday, equities faced heightened volatility with the expiry of over $5 trillion in stock options and futures contracts.
Triple witching refers to the simultaneous expiration of stock options, stock index options, and stock index futures.
This concentrates massive trading activity into a single session, and as traders unwind or roll over positions, volumes spike and volatility surges, often spilling over into correlated markets like crypto.
Major stock indices saw a sharp sell-off in the Friday trading session before a bullish reversal to end the day in the green.
However, crypto assets failed to hold key support levels and ended up in the red.
Why Sidelined Investors Should Buy The Dip?
Experts are confident that buying the dip remains the correct move.
For starters, the Bitcoin price saw a sharp sell-off following the last Triple Witching as well, only to form a bottom just 3 days later and rally by 25% to a new all-time high.
Moreover, BTC continues to make higher lows and higher highs, and the bullish structure is intact even after Friday’s crash.
Best Cryptos To Buy Now
The TOTAL3 market cap, which excludes Bitcoin and Ethereum, is on the cusp of a multi-year breakout.
Unsurprisingly, majors like Solana, Dogecoin and XRP are among the best cryptos to buy now. Notably, $SOL needs to flip the $240 resistance and Dogecoin $0.31 for an explosive rally. Meanwhile, a weekly close above $3 could result in a sustained uptrend in XRP.
Solana meme coins were among the worst performers in Friday’s crypto crash. However, assets like Fartcoin and Pudgy Penguins continue to be in high demand among experts.
Among the low caps, Bitcoin Hyper has emerged as one of the hottest commodities, having already raised over $17.1 million in its presale.
Notably, HYPER is one of the favourite coins of whales and smart money investors. Five-figure investments are daily occurrences, and one whale invested over $160k into the token in a single transaction.
After all, Bitcoin Hyper is the latest BTC layer-2 coin. L2 tokens are excellent high-beta plays on their respective layer-1s and often reach multibillion-dollar valuations. Considering HYPER’s early demand during its presale, there is no reason why it cannot replicate the success of other top layer-2 projects.
With its cutting-edge use of zero-knowledge architecture and the Solana Virtual Machine, Bitcoin Hyper has perfectly positioned itself to onboard the DeFi apps, meme coins and payment protocols that are looking to enter the Bitcoin ecosystem.
Unsurprisingly, experts are calling HYPER the next 100x crypto, with even conservative analysts eyeing up to 10x returns from it.
Visit Bitcoin Hyper Presale
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