Bitcoin and Nasdaq Divergence
Post-Election Trends
Upcoming weekly insights suggest Bitcoin may decouple further from traditional markets like the Nasdaq post-election. According to CryptoQuant, political uncertainty often pushes investors toward Bitcoin as a hedge against economic policy shifts. While the Nasdaq might face challenges due to new government policies, Bitcoin’s scarcity and role as a store of value could drive its price upward, even if equity markets struggle.
Source | TradingView
Ethereum’s Bullish Momentum
ETH/BTC Price Ratio
The ETH/BTC price ratio is showing strong bullish signs. Analysis highlights that “Ethereum is shaping a strong base against Bitcoin,” hinting at a possible breakout. This momentum is attributed to Ethereum’s continuous technological improvements, which make it increasingly attractive to developers and investors.
Sector-Specific Token Movements
Real-World Assets (RWA)
Source | Ideasoft
Tokens such as $OM, $ONDO, and $PRCL are gaining popularity as they tokenize real-world assets like luxury goods and real estate. Token Metrics notes that “the tokenization of tangible assets is gaining momentum, providing liquidity to traditionally illiquid markets.”
Gaming Tokens
Source | Shrimpy Token
ZssBecker, a respected gaming analyst, predicts a resurgence in gaming tokens. These tokens, such as those used in projects like Axie Infinity $AXS, go beyond gaming to build economies where players have real ownership of assets. As Becker states, “Gaming tokens are about creating economic ecosystems, not just games.”
Meme Coins
Source | Medium
Meme coins are capturing attention again with strong momentum:
- $DOGE: Highlighted for its significant surge, indicating strong performance momentum.
- $PEPE: Boosted by listings on major platforms, suggesting continued upward trends due to increased accessibility and visibility.
- $WIF: Noted for maintaining its momentum, signaling either stability or the potential for further growth.
- $PNUT: Experienced a dramatic increase, with some reports predicting it could be a top performer this week, driven by heightened attention from its exchange listings.
MilesDeutscher emphasizes that “meme coins are unpredictable but can deliver high rewards when community sentiment aligns.”
Layer-1 Blockchain Platforms
Layer-1 blockchains such as $SOL, $SUI, and $APT are receiving attention for their scalability and performance enhancements. Messari highlights that “competition among Layer-1 blockchains is intense, with each striving to offer the best infrastructure for DeFi and other applications.”
Alt Season = Meme Season
In this crypto bull run, there’s a noticeable shift from traditional investment flows. Previously, money moved from Bitcoin to Ethereum, then to large caps, and finally to altcoins. Now, after Bitcoin and a brief focus on major coins like Solana, funds are rapidly flowing into meme coins like Dogecoin, Pepe Coin, and others.
This trend reflects a market increasingly driven by community hype and speculative trading rather than fundamental value, potentially draining liquidity from more established assets. While this brings new investors and excitement, it also significantly increases market volatility and risk, highlighting a shift towards speculative investments in crypto.
Source | X @muststopmurad
General Market Sentiment
Traders are cautiously optimistic about Bitcoin and Ethereum. Analysts recommend watching for dips, which could serve as buying opportunities. Since Ethereum’s price often correlates with Bitcoin’s movements, Bitcoin’s trajectory is likely to influence ETH.
Notable Developments
Aptos Staking ETP
Source | ETC Group
On November 19, 2024, Bitwise Asset Management will list the first-ever Aptos Staking ETP (Ticker: APTB, ISIN DE000A4AJWU3) on the SIX Swiss Exchange in Zurich, Switzerland. This marks a significant milestone for staking products in the crypto market.
Upcoming FLOKI Announcement
$FLOKI set to broadcast a marketing announcement on Monday, November 18, at 2 PM (UTC). The event will be hosted on FLOKI’s X Spaces, providing updates that could influence the coin’s momentum.
Final Thoughts
The crypto market is showing interesting movements across Bitcoin, Ethereum, and various tokens like gaming, meme coins, and real-world asset projects. However, keep in mind that Millionero doesn’t provide financial advice. Always do your own research (DYOR) by visiting blog.millionero.com. When you feel prepared, you can trade spot and futures with us.