Less than a week ago, Bitcoin was trading below $68k in anticipation of one of the most eventful weeks in recent history. The US election and interest rate decision were expected to shape Bitcoin's near-term direction. Bitcoin now trades above $81k, hitting new all-time highs daily. Dips are brief and quickly bought up, signaling the start of a bull run—strap in.
Sentiment is overwhelmingly bullish across fundamentals, technicals, and external factors. Over the weekend, Tether Treasury minted 1 billion USDT on the Ethereum chain, and the Bitcoin Strategic Reserve announced its finalized plan to acquire 1,000,000 Bitcoin, with an annual purchase of 200,000 Bitcoin over five years. In short, the bullish outlook has never been stronger and yet you are not bullish enough.
Among altcoins, Cardano (ADA) has led the charge. Its founder, Charles Hoskinson, confirmed an advisory role under Trump, intending to work with the U.S. government to establish clearer crypto regulations. ADA surged 35% in a single day following this announcement. Other notable gainers include Sui and Dogecoin, up 66% and 75%, respectively, since their first mentions in the Morning Note.
If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. You’re still early, and if you have long-term confidence in the crypto space, this is an ideal time to enter. Contact your Stormrake Crypto Broker to seize these golden opportunities.
Stormrake Spotlight: TAO ($562.3)
Stormrake Spotlight: TAO ($562.3)
TAO ends its time in the Stormrake Spotlight 30% up from its first mention, making it another successful pick. TAO remains 25% below its all-time high, with further gains likely. Check back tomorrow for our next Stormrake Spotlight.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin has set another all-time high, using the 21 EMA as support and a bounce zone. Any dips only reach the 21 EMA before bouncing back almost immediately. The CPR resistance at $82.3k may act as a barrier, as its previous level at $76.3k briefly did before BTC continued higher.
BTC Total ETF Flows for 10 Nov: $ N/A
(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, like Bitcoin, has shown no signs of slowing down. While still far from its own all-time high, ETH has been breaking through previous price levels as though they were cleared highs. Currently, it’s testing CPR resistance, with a brief rejection followed by a dip to the 55 EMA and a sharp bounce. Once ETH clears the CPR level, the next target is $3,370, with any downside likely to find support at the 21 EMA.
ETH Total ETF Flows for 10 Nov: $ N/A
(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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