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The Crypto Minute
Your Weekly Guide to Surviving the Crypto Rollercoaster.
CoinBrain
November 11, 2024 • Reading Time: 8 minutes
Welcome to a new issue of Crypto Minute by CoinBrain! It has been a wild ride since last Tuesday, crypto markets have a new ATH, and US politics is a major catalyst in this. Let us explore and catch up on the most important crypto stuff of last week.
⤵️ Today’s Agenda:
After winning the presidential elections, the orange man sends the orange coin to a juicy new ATH!
Some gigabrain from France turned political predictions into a $50M payday on Polymarket. That's some next-level crystal ball action!
Charles Hoskinson suits up for Washington DC, and $ADA holders are swimming in green candles!
📊 Market Snapshot
| $81,400BTC+18.4% | $3,150ETH+28.3% | $2.76TCrypto Market Cap+17.4% | 79 (Greed)Fear & Greed Index+26 from last week |
📅 Crypto Events You don’t want to Miss
Wednesday, Nov 13th - On this date, we expect the consumer price index (CPI) to be announced (both monthly and yearly). This impacts the future of interest rate decisions. Here’s how it works:
lower CPI ➡️ stable inflation ➡️ No need to increase interest rates
When interest rates stay low, the markets (including crypto) can expand.
Thursday, Nov 14th - 🇺🇸 US Fed Chair Powell Speaks in a panel discussion
Federal Reserve Chair Jerome Powell is an important person for crypto because of his large influence over the US economy.
Traders often look for clues in Powell’s speech and body language to indicate interest rate moves.
Higher volatility is to be expected. Crypto may see an uptick if Powell drops clues for ⬇️ lower interest rates
🐋Smart Money Tracker
Tuesday, Nov 5th: A MtGox wallet has transferred 32,371 $BTC worth over $2.19B to 3 new wallets. What are they up to? 🤔
Wednesday, Nov 6th: A whale created a new wallet and spent 15,132 $SOL (worth over $2.8M) on $PNUT (Peanut the Squirrel) and $FRED (First Convicted Raccon) memecoins. Interesting choice of coins, is there some don’t know? 🤑
Wednesday, Nov 6th: Some crazy betting profits happening after Trump won the election. These are the highest takers:
Mystery trader “Théo“ under accounts “Theo4“, “PrincessCaro“ or “Michie" earned an overall profit of $47.8M"!
zxgngl profits $11M
Saturday, Nov 9th: A whale is withdrawing massive amounts of $WIF from Binance. Should we be skeptical? 🤔 This same whale previously bought 9.8M $WIF at $1.53 from Aug 30 to Sep 2 and sold all $WIF at $2.35 on Sep 29, making a profit of $8M
Sunday, Nov 10th: After Bitcoin surpassed $80,000, MicroStrategy’s holdings now exceed $20B, with an unrealized profit of more than $10B. Their average buying price is $39,266.
Source: Lookonchain
📰 News Recap (Nov 4 to 11)
DOGE Flips XRP in Market Capitalization. Look who just crashed the crypto top 4 party! Dogecoin just leapfrogged over XRP, thanks to none other than Elon Musk's Twitter cheerleading and Trump's market-moving victory. Who says you can't teach an old DOGE new tricks?
Fed Hits the Discount Button, BTC Smashes Records! Sound the alarms – Bitcoin moonshot past $80K after the Fed dropped rates like they're hot! The perfect storm of cheaper money and Trump's crypto-friendly vibes has got the bulls running wild in the streets. Is this the start of the mother of all rallies?
$ADA Goes Supersonic as Hoskinson Takes on DC! Cardano's throwing a 100% gains party and everyone's invited! Charles Hoskinson just stepped into the regulatory ring in Washington DC, and ADA holders are loving it. Nothing like some good old regulatory clarity to get those green candles burning!
🌍️ Story of the Week
Bitcoin skyrocketing after Donald Trump’s election victory: Donald Trump clinched his return ticket to the White House after dominating the swing states, and Bitcoin responded with the mother of all rallies – smashing through $75,410 like it was made of paper!
The secret sauce behind this epic surge? Trump's been playing the crypto cards just right, promising to transform America into the world's crypto capital and even floating the idea of a strategic Bitcoin reserve (talk about a plot twist!).
Now the crypto prophets are out in full force, with some bold souls eyeing that magical $100K Bitcoin milestone like it's inevitable. But keep those diamond hands steady, fam – Trump's "America First" policies could still throw some spicy curveballs at the market. For now, though, the bulls are running wild in the streets, and this party's just getting started! 🚀
🔒 Major Token Unlocks of the Week
$LIQ - 4.79% of the total supply will enter circulation on Nov 13, 2024.
$RADAR - 12.00% of the total supply will enter circulation on Nov 13, 2024.
$ALICE - 2.38% of the total supply will enter circulation on Nov 15, 2024.
$IGU - 3.43% of the total supply will enter circulation on Nov 16, 2024.
$FLIP - 24.55% of the total supply will enter circulation on Nov 17, 2024.
The Chainflip ($FLIP) unlock is an extremely rare opportunity and can signify a nearing price dump. Tokens are going to be released mainly to “Oxen Foundation“ and “Strategic Investors“, who may or may not drop them on the market (usually they do to lock profits).
🗞️ From our Blog
💡 1 Minute Learning: Golden Cross
Ever wondered what gets crypto veterans all excited about two lines crossing on a chart? Say hello to the Golden Cross – the chart pattern that's basically the crypto equivalent of seeing a double rainbow!
When the 50-day moving average (the faster line) crosses above the 200-day moving average (the slower, chiller line), that's your Golden Cross moment. Think of it like your quick friend finally catching up to and passing your marathon-running buddy – it usually means momentum is picking up!
The fast line crosses over slow line = potentially bullish AF 🚀
Usually signals the end of a bear market (bye bye, pain!)
And that’s a wrap! 🎉 Enjoyed this newsletter? Forward it to a friend, and let them know they can subscribe here.
Got any ideas or feedback? We’d love to hear from you! Drop us an email at [email protected].
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and not investment advice or a solicitation to buy or sell any assets or make financial decisions. Always do your own research and stay safe out there.