BTC Nears $90k as Alts Dip… Opportunity Knocks.
Bitcoin dips, altcoins follow, Bitcoin recovers, and altcoins show resilience—all within 24 hours.
Bitcoin continued its rally, reaching a new all-time high for the seventh consecutive day. However, the past 24 hours weren’t entirely smooth for the crypto market. BTC dipped to a low of $85.2k overnight, with most altcoins declining by over 10%. For example, Sui presented a buying opportunity at $2.83 and quickly recovered over 15% to trade above $3.20. Similarly, Dogecoin surged yesterday, gaining as much as 35% to reach $0.44 before pulling back to $0.38—potentially offering a buying opportunity for those willing to buy the dip.
These quick dips are not uncommon in bull markets. Prices often rally 30-40% over a week and then experience a 10% pullback, which can serve as an opportunity to add to positions. Don’t be discouraged by buying at higher prices; for instance, Dogecoin was $0.30 a week ago, then surged to $0.45, with potential for further gains. Bull markets are times when you “buy high and sell higher.” This isn’t the time to be passive or cautious—embrace these dips as chances to be proactive.
Bitcoin dominance remains above 60%, showing no signs of slowing down. BTC fell 4% overnight while altcoins dropped over 10%, reinforcing how early we are in this bull market, as Bitcoin continues to dominate.
If you feel underexposed or worry feel like you’ve missed out, now is a good time to bolster your Bitcoin position. You’re still early, and if you have long-term confidence in the crypto space, this is an ideal time to enter. Contact your Stormrake Crypto Broker to seize these golden opportunities.
Stormrake Spotlight: RUNE ($5.91)
Rune has pulled back with the rest of the market but is now holding at a key support level. This dip should be seen as a buying opportunity, especially for those with long-term confidence in the project. Sentiment around Rune remains strong within the crypto community.
BTC/USD Key Levels and Price Action:
Another day, another Bitcoin all-time high. BTC saw its first slip in the recent rally with a quick 4% pullback after failing to breach $90k. As expected, the 21 EMA provided support, with the low touching $85.2k. Since then, BTC has rallied, nullifying the dip and attempting to reach $90k once more, but without success. It currently trades just above the 21 EMA. Expect this level to hold, with $90k acting as resistance.
BTC Total ETF Flows for 13 Nov: $ + 2 million (12 Nov saw total inflows of 1.11 billion)
(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:
Ethereum briefly broke above the key level of $3,370, reaching a high of $3,440 before retreating below resistance. ETH has found support at the 55 EMA and continues to bounce from that level. Expect this 55 EMA to hold and for ETH to retest the key resistance at $3,370.
ETH Total ETF Flows for 13 Nov: $ + 4.5 million (12 Nov saw total inflows of 295.5 million)
(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
Written by Alexandar Artis
To view this article and many others on our blog - please click HERE
If you enjoyed this Morning Note, feel free to open an account and gain access to more proprietary research and work with your very own dedicated crypto broker.
Disclaimer
All statements made in this material 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.