To receive the Morning Note in your inbox. Subscribe here: https://stormrake.substack.com/
Donald Trump rang the opening bell at the New York Stock Exchange this morning after being named Time’s Person of the Year. Trump reaffirmed his vision of the United States as the global leader in cryptocurrency, stating, "We will be doing something great with Crypto."
A few months ago, Trump made headlines by attempting to launch his own cryptocurrency, World Liberty Finance (WLFI), as a fundraising vehicle for his presidential campaign. While the initiative fell short of his own lofty expectations, the raised funds are now being used to purchase established cryptocurrencies. These purchases, tied to Trump’s influence, have caused a rally in the associated tokens, which are currently leading the market.
Recent acquisitions by WLFI include Ethereum (ETH), Chainlink (LINK), and Aave (AAVE). Notably, LINK and AAVE are today’s biggest gainers, surging 21% and 25%, respectively, since the purchases were made. This trend highlights Trump’s undeniable influence on the crypto market, positioning him as one of the most significant catalysts in recent history.
Over the past year, Trump’s bullish stance on cryptocurrency has consistently driven market optimism. His remarks and actions have coincided with strong upward momentum, with the broader market often following Bitcoin’s lead. The post-election rally in November further underscored the power of his endorsements. WLFI’s future acquisitions are likely to attract significant attention from the market. For those interested in monitoring WLFI’s crypto activity, the wallet link provided above offers full transparency.
For investors feeling underexposed or worried about missing out, this is just the beginning. Strengthening your Bitcoin position or acquiring quality altcoins could yield substantial long-term gains. The crypto market is still in its early growth phase, providing believers with a prime environment to capitalise. Contact your Stormrake Crypto Broker today to seize this moment.
Stormrake Spotlight: Gala Games (GALA) ($0.05071)
Stormrake Spotlight: Gala Games (GALA) ($0.05071)
Gala Games (GALA) appears to be forming a solid base above $0.05 during its current consolidation phase, following a 13% rebound from its low two days ago. Despite broader market uncertainty, we remain bullish on GALA. This consolidation phase presents a potential opportunity to dollar-cost average (DCA) into the token, positioning for gains as the market stabilises.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin is battling to stay above the critical $100k support level, consolidating after achieving higher highs. BTC’s current bullish momentum is supported by its position above key moving averages. However, a break below these averages and the $100k level could signal a shift toward bearish control.
BTC Total ETF Flows for 12 Dec: $ + 132.8 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 maintains its bullish structure after setting a higher high. If ETH holds above its recent higher low of $3,800, this trend remains intact. Similar to Bitcoin, ETH is trading near its moving averages; a break below these levels could indicate bearish momentum, potentially driving ETH down to the key $3,724 support level.
ETH Total ETF Flows for 12 Dec: $ + 52.0 Million
(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
To receive the Morning Note in your inbox. Subscribe here: https://stormrake.substack.com/
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
Create a brokerage account today
No Advice Warning
The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
Stormrake is not a financial adviser and does not provide financial product advice. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Stormrake is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this newsletter.
Disclaimer
All statements made in this newsletter are made in good faith and we believe they are accurate and reliable. Stormrake does not give any warranty as to the accuracy, reliability or completeness of information that is contained here, except insofar as any liability under statute cannot be excluded. Stormrake, its directors, employees and their representatives do not accept any liability for any error or omission in this newsletter or for any resulting loss or damage suffered by the recipient or any other person. Unless otherwise specified, copyright of information provided in this newsletter is owned by Stormrake. You may not alter or modify this information in any way, including the removal of this copyright notice.Copyright © 2024 Stormrake Pty Ltd, All rights reserved
