Bitcoin continued its rally, reaching a new all-time high for the seventh consecutive day. However, the past 24 hours weren’t entirely smooth for the crypto market. BTC dipped to a low of $85.2k overnight, with most altcoins declining by over 10%. For example, Sui presented a buying opportunity at $2.83 and quickly recovered over 15% to trade above $3.20. Similarly, Dogecoin surged yesterday, gaining as much as 35% to reach $0.44 before pulling back to $0.38—potentially offering a buying opportunity for those willing to buy the dip.
These quick dips are not uncommon in bull markets. Prices often rally 30-40% over a week and then experience a 10% pullback, which can serve as an opportunity to add to positions. Don’t be discouraged by buying at higher prices; for instance, Dogecoin was $0.30 a week ago, then surged to $0.45, with potential for further gains. Bull markets are times when you “buy high and sell higher.” This isn’t the time to be passive or cautious—embrace these dips as chances to be proactive.
Bitcoin dominance remains above 60%, showing no signs of slowing down. BTC fell 4% overnight while altcoins dropped over 10%, reinforcing how early we are in this bull market, as Bitcoin continues to dominate.
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: RUNE ($5.91)
Stormrake Spotlight: RUNE ($5.91)
Rune has pulled back with the rest of the market but is now holding at a key support level. This dip should be seen as a buying opportunity, especially for those with long-term confidence in the project. Sentiment around Rune remains strong within the crypto community.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Another day, another Bitcoin all-time high. BTC saw its first slip in the recent rally with a quick 4% pullback after failing to breach $90k. As expected, the 21 EMA provided support, with the low touching $85.2k. Since then, BTC has rallied, nullifying the dip and attempting to reach $90k once more, but without success. It currently trades just above the 21 EMA. Expect this level to hold, with $90k acting as resistance.
BTC Total ETF Flows for 13 Nov: $ + 2 million (12 Nov saw total inflows of 1.11 billion)
(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 briefly broke above the key level of $3,370, reaching a high of $3,440 before retreating below resistance. ETH has found support at the 55 EMA and continues to bounce from that level. Expect this 55 EMA to hold and for ETH to retest the key resistance at $3,370.
ETH Total ETF Flows for 13 Nov: $ + 4.5 million (12 Nov saw total inflows of 295.5 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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