Crypto Market Pulse - November 18, 2024
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
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
VIX is still muted after the elections.
BTC WEEKLY VIEW
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
ETH is again relatively weaker and isn’t near ATH’s yet.
ETH/BTC
ETH/BTC also retraced its entire post-election rally.
TOTAL3 USD MARKET STRENGTH
TOTAL3 also rotated its structure, and the market has seen some big rallies, especially in the meme coin sector.
TOTAL3 BTC MARKET STRENGTH
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
Kairon Labs provides upscale market-making services for digital asset issuers and token projects, leveraging cutting-edge algorithmic trading software that is integrated into over 100+ exchanges with 24/7 global market coverage. Get a free first consult with us now at kaironlabs.com/contact