Market Insights 💥10/30/2024💥

1. Bitcoin on the rebound:

○ Bitcoin has surpassed $72,000, a level it has not seen in 4 months. The reasons behind this rise are analyzed, such as liquidity in the market and massive purchases of ETFs.

2. Macroeconomic context in the US:

○ The US economy grows at 2.8% in the third quarter. Consumer spending rises 3.7%, the highest since the beginning of 2023, driven by consumer products such as cars and

technology.

○ Growth could be influenced by an attempt to stabilize the economy prior to the presidential elections, favoring the positive perception of the current party.

3. EurozoneExceedsExpectations:

○ Eurozone GDP grew 0.4% in the third quarter, with Spain

leading the way. Germany avoids recession, and expectations for another 50-basis-point cut

are diminishing, although a 25-basis-point cut is likely in December.

4. ChinaandPossibleCatalysts:

○ China could boost the global market with a possible 10 trillion yuan fiscal package, expected to be approved on November 8.

This would act as a major catalyst for international markets.

5. RussiaFinesGoogle:

○ Russia has fined Google $20 trillion, an absurd figure that

exceeds global wealth, highlighting geopolitical and political tensions

between big tech and certain governments. 6. Race for AI and Tech Profits:

○ Google's parent company Alphabet has seen its revenues grow by 16%, thanks to advances in artificial intelligence. Expectations are that Microsoft and Meta will also show strong results in the AI ​​sector. This could continue to drive the narrative.

7. Projections for Bitcoin and Altcoins:

○ Bitcoin has a 60% dominance in the crypto market, which has limited the rise of other cryptocurrencies (altcoins). If the dominance falls, we could see a capital rotation towards altcoins.