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Bitcoin November Performance Update
Bitcoin is currently on track to record its best November in four years. The month still has two weeks left, but the strong price action suggests a bullish continuation.
Historically, when November closes green, December often follows suit with another positive performance. If this trend holds, we could be looking at a very strong finish to 2024 for Bitcoin, potentially setting the stage for a year-end rally.
Bitcoin Market Update
Despite a quick -5% correction yesterday, Bitcoin’s price action remains strong and has been mostly trending upward. ETF inflows continue to show aggressive buying, while stocks are also trading at all-time highs, creating an overall bullish environment. It’s easy to get swept up in the FOMO, but stay cautious and stick to your strategy.
The real excitement might still be ahead, especially when the altcoin market kicks off its typical parabolic rally. We haven’t seen peak altcoin madness yet, and it could be coming soon.
CPI Print: A Non-Event
The CPI data came in as a complete match across the board, delivering a “nothingburger.” It wasn’t expected to be a major catalyst, and with the print aligning perfectly with expectations, there’s no disruption to the ongoing trend. The market seems unfazed—let the rally continue.
3/ Bitcoin CPI Update Incoming
In a but more than 1 hour, we’ll get the latest CPI print. However, judging by market sentiment and feeds, the crypto space appears largely unfazed by this macro data release. This is typical during strong uptrends; the market tends to only react when there’s significant uncertainty or a major surprise in the data. For now, it seems the focus remains on the ongoing rally and broader bullish momentum. Let’s see if today’s CPI release changes anything or if the trend continues uninterrupted.
2/ Bitcoin Flips Silver
Bitcoin has just surpassed Silver, becoming the 8th most valuable asset globally based on market cap—a huge milestone for the cryptocurrency. Reaching the top 8 showcases Bitcoin's incredible growth and rising adoption.
For perspective, BTC is now "just" a 10x away from matching Gold's market cap of over $17 trillion. While the gap remains significant, this achievement highlights Bitcoin’s potential as a store of value and its increasing relevance in the financial landscape.
