Traders in the crypto market are currently on the lookout for top crypto performers today as major cryptos start to recover following a weekend dip to multi-week lows. September is historically a bearish month for bitcoin, with the cryptocurrency only rising in three out of the nine previous Septembers.
bitcoin is currently trading in the upper $58,000s, up about 2.5% for the day. Other major cryptos, such as ethereum, are also showing positive momentum, with ethereum up 2.2% in the last 24 hours to just over $2,500.
Will This September Buck the Bearish Trend?
Traders are looking to major US economic data releases this week, including the ISM PMI reports and US jobs data on Friday, to potentially support the case for Fed interest rate cuts while dispelling concerns about a looming recession in the US economy.
The anticipation of the first Fed interest rate cut since 2020 later this month could provide a boost to market sentiment. With inflation easing and signs of weakening in the labor market, the Fed is expected to initiate a series of interest rate cuts, potentially breaking from the traditional bearish seasonal trend in September.
Political factors may also come into play, with the current lead of the more pro-crypto Republican Presidential candidate Donald Trump over Democrat nominee Kamala Harris potentially influencing market dynamics.
As enthusiasm for Kamala Harris wanes due to poorly received policy proposals and lackluster interviews, traders are exploring alternative crypto options that could perform well in September.
crypto-performers-today-which-are-they">Top crypto Performers Today – Which Are They?
One of the top crypto performers today is the DePIN wireless network alt-coin, Helium (HNT), which has seen a 7.5% increase in the last 24 hours, trading at $7.65. Helium is eyeing a retest of its multi-month highs from August, aiming to surpass the $11 mark.
Furthermore, developments in the Helium network, such as telecom providers utilizing Helium’s carrier offload program, could drive further growth in HNT’s value.
Uniswap (UNI) and MANTRA (OM) are two other notable crypto performers today, with UNI up 6.3% and OM up 4.5% respectively. Uniswap is approaching a retest of its 50-day moving average (DMA), while MANTRA is targeting $1.0 and a retest of its 50DMA.
crypto-performers-today">Alternative to Top crypto Performers Today
While the top crypto performers today show significant growth potential, some traders with a higher risk appetite may seek even greater upside potential. One strategy to consider is participating in crypto presales, offering the opportunity to invest in promising projects at discounted rates.
Although presales involve risks, they can provide exposure to projects with 100x potential. Traders are encouraged to conduct thorough research before participating and only invest what they can afford to lose.
To explore some of the top crypto presales currently available, check out Cryptonews.com's list of 19 Best crypto Presales to Invest In Now – Upcoming token Sales.
