[Eternal Fire November 11th evening, cryptocurrency market trend information analysis and judgment]
Some information comes from aicoin.
As expected, Bitcoin broke through the 80,000 mark and continued to hit the 85,000 mark.
On the 111th, according to Wall Street reports, if Trump tries to fire Federal Reserve Chairman Powell, Powell is ready for a legal fight.
On November 11, Nate Geraci, president of The ETF Store, said on the social platform, "It is predicted that there will be multiple spot cryptocurrency ETF applications submitted this week, including XRP, SOL, ADA, etc. It can be assumed that many issuers are fully prepared for the election results. There is no harm in accelerating now. hanfeng16890
It is good news for the above three stocks, please pay attention to their prices. If successful, sol is expected to continue to break through 230 and look around 250, and the corresponding ecology, wif, jto, ray, bome, etc. will further rise.
On November 11, last week’s “Trump trade” hit a climax in the market. Trump's return to the White House and the possibility of a Republican victory in Congress, as well as the Federal Reserve's 25 basis point interest rate cut as scheduled, have settled two key risk events and prompted a significant rebound in financial markets.
According to 4E monitoring, the US stock market has risen rapidly, and the three major indexes have all hit new highs this week. The Dow Jones and S&P 500 recorded their best single-week performance of the year. Among them, the S&P 500 rose 4.66% for the week, the Dow Jones rose 4.61%, and the Nasdaq rose 5.74%. Tesla soared to a new high since April 2022, with a weekly cumulative increase of 29.01%, and a market value of over one trillion US dollars. Nvidia once surpassed Apple and became the world's most valuable company again, with a weekly cumulative increase of 9.03%. The total market value of the seven technology giants increased by nearly US$940 billion in a week.
[The meaning of fighting against the A-share market is self-evident. In a word, my US stocks can still rise, so don’t run to the Rabbit House.]
The above is the important market information on the 11th. The feud between Trump and Powell has been mentioned in previous articles. The focus of the conflict lies in monetary policy. Trump is a businessman who wants to develop the economy, so he must have an easy monetary policy, while Powell's starting point is CPI and employment data. At the same time, Trump recently said that he will not fire Powell, which is not allowed from a legal perspective, but there is room for maneuver in everything.
SOL ETF and XRP ETF have been planned for a long time. However, since the former US SEC Chairman Gary Gensler is a typical Democrat, he is extremely unfriendly to cryptocurrencies. Many projects have been troubled by Gary Gensler for various reasons. On August 27, Trump made it clear at the BTC conference that if he wins the election, the first thing he will do is to fire Gary Gensler! The latest news shows that SEC Chairman Gary Gensler will resign before the new president takes office. If the chairman of the SEC can be replaced by Trump's own people, that is, someone who supports cryptocurrencies, then XRP and SOL ETFs will most likely be approved!
On the 13th, which is Wednesday, the U.S. Department of Labor will release the CPI inflation data for October. The overall interest rate in October is 4.75% to 5%. The current market forecast for CPI is 2.6%, and the previous value was 2.4%. That is to say, in the market's view, CPI should theoretically rebound, and the market also accepts the rebound of CPI. So as long as the announced value is not higher than 2.6, it is within an acceptable range. If the announced value is much higher than 2.6%, then whether the Federal Reserve will continue to cut interest rates in the following December is a question. From the current point of view, Powell's attitude is relatively tough. He would rather go to court with Trump than easily change monetary policy because Trump won the U.S. election.
In terms of the market, the overall market continues to be bullish, but the current market sentiment has gradually turned to bullish bullishness, the contract holdings have increased significantly, and the long positions have increased significantly. There is a possibility that the market will be pushed down and the contract will be exploded. BTC is still rising in a shrinking volume in the overall trend. There is no locked-in plate above, so the selling pressure comes from the profit plate. Judging from the current market situation, even if BTC has risen to more than 80,000, there are not many follow-up plates in the secondary market of the currency circle. Basically, no one is willing to continue to increase BTC above 80,000 points, so the market fluctuates at a high level during the day, or a small retracement! After the U.S. stock market opens in the evening, ETFs begin trading. With the support of ETFs, the market is expected to continue to rise. Trump's victory in the U.S. election still has an impact on the market! Focus on the closing of today's market. If it closes with a negative line, it means that there is a divergence between the long and short positions in the market, and the market has changed from a unilateral rise to a fluctuating upward. If it is a fluctuating upward, it is not very friendly to friends who do contracts. There will often be a situation of turning back and inserting needles. The main purpose is to clear leverage!
In terms of altcoins, altcoins collectively ushered in a small bull market over the weekend. Many of the coins shared by Lao Huo were basically at the top of the list of gains. And on the second day after Trump won the election, the previous guide strategy clearly pointed out that the price of altcoins would reach 80,000 after Trump took office, which clarified the bullish idea and emphasized that there would be a round of altcoin season coming, which is indeed the case!
On Monday, the performance of the altcoins was average. After experiencing a sharp rise, they all fell back to a certain extent. There are factors of profit-taking, but more of it is the lack of confidence in whether it will continue to rise in the future. However, from the perspective of the main force, in each round of pull-up, there will be various wash-ups. It is a wise choice to wash out the chips with weak willpower in the initial stage (current price segment). I personally think that the altcoins will continue to rise after a small intraday retracement, but the premise of all this is that BTC will not experience a big dive! When the market starts to go crazy with FOMO, it is the end of this round of market! The targets listed by my core strategies can be opened at low prices.
This month, feel free to keep on playing music and dancing!
