The cryptocurrency market has been on fire since last week after the election of Donald Trump as the US president. As unpredictable as the market can be, there are some indicators that can offer the path on which direction the market is going. Is Bitcoin finally going to the 100K level?
Fundamentals 📰
October witnessed an acceleration in the inflation rates as well as a rise in unemployment rates, we are expecting upcoming data this week on November 21, followed a day later by Purchasing Managers Index (PMI) and consumer sentiment reports.
Leading to December and beginning of 2025, the question is whether the Fed is going for a cut in interest rates as expected.
This might look promising for the markets but we should also bear in mind the behavioral and sentimental analysis whereas most people by the end of the year will extract some liquidity from the market which might cause a slight correction in the crypto markets prices.
Big Institutions Orders 🤑
The institutional appetite for BTC is growing over and over with Blackrocks ETFs increasing in adoption and holding a significant portion of the company’s portfolio.
We have seen signs of no selling from whales, both large and small whale entities continue to add to their BTC exposure. Accumulation is still happening at the 90K levels which hold very strong, this also indicates the potential entry of new whales.
Technical Analysis 📈
The Bitcoin chart looks very promising especially seeing a parabolic move upwards to above 93000$ level and holding accumulation within the 90000$ range.
We started to see a lot of altcoins moving, especially memecoins leading the way with the likes of BONK, WIF and PEPE rising again.
A correction to the 70k levels for BTC is a possibility that might occur though less probable then reaching the 100k levels which is a forecast done by the biggest institutionals like Microstrategy.
It is always recommendable to adjust your leverage and risk accordingly because volatility is inevitable with the current market conditions. The real key to success in the trading business is controlling your emotions and mitigating your risk.