The week of Black Friday kicked off with high volatility as Bitcoin (BTC) shed 4% overnight. Many altcoins followed suit, facing even steeper retracements. However, some have rebounded to higher levels post-dip, showcasing resilience as BTC struggles to regain footing.
As Black Friday approaches, the crypto market mirrors the frenzy of deals in shops and online. Several coins, such as Dogecoin (DOGE) and Sui (SUI), have dropped 20% from their recent highs recorded just last week, presenting opportunities for bargain hunters.
A Timely Pullback for Buyers?
For those waiting on a pullback, now may be the perfect time to act. Some altcoins have already staged recoveries, with tokens like Fantom (FTM) and SEI rebounding strongly. Both dumped by around 10% but are now trading higher than yesterday’s levels. While the broader market is experiencing some corrections, this is not the major pullback many had anticipated. Expectations of a 10% BTC decline and a 20-30% altcoin plunge have not materialised. In fact, many altcoins are outperforming BTC during its pullback.
This correction has been anticipated for weeks now—some have been waiting since BTC hit $75,000. The question remains: now that the pullback is here, will those who asked for it finally act? Don’t be left on the sidelines waiting for a price that might not arrive. Seize the opportunity, take advantage of discounted prices, and practice patience.
For those feeling underexposed or worried they’ve missed the boat, now is the time to strengthen your Bitcoin position. This market remains in its early stages, presenting long-term believers with a prime opportunity. Contact your Stormrake Crypto Broker to seize this moment.
Stormrake Spotlight: Fantom ($1.035)
Stormrake Spotlight: Fantom ($1.035)
Fantom continues to demonstrate impressive strength. As noted yesterday, FTM’s resilience was on full display overnight. While Bitcoin pulled back 4%, FTM dropped 10% but swiftly rebounded, climbing over 12% from its overnight low and now trading above yesterday’s levels. Currently at its highest price since April, FTM looks poised for further gains.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin’s current price chart leaves little room for optimism, with lower lows and trading below all key moving averages. However, a glimmer of hope lies in the latest hourly candle, which appears ready to engulf the previous red candle. If confirmed, this could signal the start of a bullish reversal. But this short term pullback will be short lived and should be seen as a buying opportunity for the long term.
BTC Total ETF Flows for 25 Nov: $ - 549.4 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
ETH/USD Key Levels and Price Action:
ETH/USD Key Levels and Price Action:
Ethereum continues to outperform Bitcoin, trading higher than yesterday. ETH maintains a bullish price structure with higher highs and lows, supported by a bullish cross of the 21 EMA and 55 EMA. Regardless of BTC’s movements, ETH appears positioned to climb further, potentially targeting $3,557.
ETH Total ETF Flows for 25 Nov: $ - 4.1 Million
(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
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Written by Alexandar Artis
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