Crypto Market Pulse - November 26, 2024
LAST WEEK RECAP:
- Bitcoin reached $99K ATH
- US BTC ETFs recorded 5 consecutive days of inflows
- SEC chair Gary Gensler to step down in January
- Trump names pro-crypto Scott Bessent as Treasury Secretary pick
- Nvidia beats Q3 revenue and EPS estimates
- BTC ETF option begins trading
- MSTR (MicroStrategy) becomes the most traded U.S. stock on Nov 21st
- Arkham will launch a spot trading platform in the U.S.
LEGACY MARKETS – DXY
The dollar pushes for a breakout out of the big range, with no significant rejection observed. It now looks more like a retest.
LEGACY MARKETS – VIX
VIX is still muted as the market expectations remain largely unchanged.
BTC WEEKLY VIEW
Bitcoin continues to make new highs within its uptrend. It faced significant selling pressure after coming just 1k short of breaking the 100k mark, leading to a pullback. We anticipate that BTC will consolidate again near the 100k level.
ETH WEEKLY VIEW
ETH has followed BTC’s rally and broken above its previous high but remains relatively weak overall.
ETH/BTC
ETH is showing relative strength.
TOTAL3 USD MARKET STRENGTH
TOTAL3 exhibited a varied performance as altcoins posted modest gains with healthy incremental growth observed.
TOTAL3 BTC MARKET STRENGTH
TOTAL3/BTC has a breakout and subsequent retest; we expect it to continue its upward momentum.
SUMMARY
- Eyes are still on TOTAL3/BTC as it shows 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