Crypto Market Pulse - November 18, 2024

Crypto Market Pulse - November 18, 2024 | Kairon Labs
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Crypto Market Pulse

LAST WEEK RECAP:

  • U.S. CPI increased 0.2% MoM and 2.6% YoY in October, same as estimates. U.S. core CPI increased 0.3% MoM and 3.3% in October, same as estimates.
  • U.S. PPI increased 0.2% MoM in October, same as estimates, the annual rate is 2.4%.
  • Powell said there’s no hurry to cut rate given strong economy.
  • BTC price reached $93K ATH and beats silver to become 8th largest asset in world.
  • U.S. Department of Government Efficiency (DOGE), led by Elon Musk, launched the X account.
  • On-chain meme trading platform DEXX suffered $16.79M security breach.
  • Consensys’s layer2 network Linea will launch token in Q1 2025.

LEGACY MARKETS – DXY

Crypto Market Pulse: November 18, 2024: Kairon Labs Crypto Market Insights - DXY

With Trump winning the elections the dollar is pushing for a breakout out of the big range. With the strength into range high it could lead to markets building ranges/ being choppy for a while.

LEGACY MARKETS – VIX

Crypto Market Pulse: November 18, 2024: Kairon Labs Crypto Market Insights - VIX

VIX is still muted after the elections.

BTC WEEKLY VIEW

Crypto Market Pulse: November 18, 2024: Kairon Labs Crypto Market Insights - BTC

BTC is seeing its first consolidation after the big impulse. The rally has been really vertical, so it makes sense for the market to take a bit of a breather in the short term.

ETH WEEKLY VIEW

Crypto Market Pulse: November 18, 2024: Kairon Labs Crypto Market Insights - ETH

ETH is again relatively weaker and isn’t near ATH’s yet.

ETH/BTC

Crypto Market Pulse: November 18, 2024: Kairon Labs Crypto Market Insights - ETH

ETH/BTC also retraced its entire post-election rally.

TOTAL3 USD MARKET STRENGTH

Crypto Market Pulse: November 18, 2024: Kairon Labs Crypto Market Insights - TOTAL3/USD

TOTAL3 also rotated its structure, and the market has seen some big rallies, especially in the meme coin sector.

TOTAL3 BTC MARKET STRENGTH

Crypto Market Pulse: November 18, 2024: Kairon Labs Crypto Market Insights - TOTAL3/BTC

TOTAL3/BTC has held its initial rotation from the election and is seemingly trying to fully rotate out.

SUMMARY

  • Eyes on TOTAL3/BTC as its showing relative strength post-elections.

DISCLAIMER:

The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

This post was prepared by Kairon Labs Trader Patrick Li and Joshua Van de Kerckhove.

Edited by: Marianne Dasal

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