TOMORROW IS THE USA ELECTION🇺🇸
You have been told that:
If Trump wins -> We are going to the moon.
If Kamala wins -> The bull market is over.
Will it really be like this?
The election of a president alone has not changed the course of a bull market in the past.
While the elections may bring volatility and affect market velocity in the short term, what will really define the direction will be the key macro events that will occur between now and the end of the year, which so far could have been somewhat influenced by the electoral context:
-November 7: US FOMC Interest Rate Decision
-November 13: US Consumer Price Index (CPI) for October
-November 15: US Retail Sales
-November 29: November BTC CME Options Expiry (BTCX24)
-December 2: US ISM Manufacturing PMI
-December 17-18: US FOMC Interest Rate Decision
-December 27: December BTC CME Options Expiry (BTCZ24)

#CryptoAMA

How can blockchain technology improve transparency and security in different sectors, beyond cryptocurrencies?

Bitcoin Daily Analysis - 2 hours + Liquidation Map
💠 On a daily scale we have broken the downward trend of the entire consolidation at ATH and now we are retesting to confirm whether we are going up or down. These retests are technically to continue going up.
💠 On a 2-hour scale we have retreated as we have been saying these days, it is normal that at the first touch at ATH we do not break it and retreat. We expect some bullish rebound above $71k in the short term.
💠 The liquidation maps clearly show that more and more people are getting into shorts and liquidating them above $75k (red-yellow zone). This is fuel for a "Short Squeeze" that liquidates them all.

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.

How can blockchain technology improve transparency and security in different sectors, beyond cryptocurrencies? #CryptoAMA

Yesterday, Microsoft announced its intention to buy Bitcoin.
This reminds us a lot of the last cycle, when Tesla made its purchase.
That event marked the last phase of the bull market: Bitcoin went from 40k to the ATH of 69k and then with the most intense Altseason we have seen.
We are not saying that the same thing will happen; nobody knows. Only that the situation evokes that memory.
What we do know is that we have had a year of bull market, and this is what we can learn to be prepared:
-The bull market will end at some point, probably when Twitter accounts assure us that we will reach 200k. That extreme euphoria has not yet arrived.
-Most likely, there will be one or two shock waves, the most parabolic of all, that can last for months. We do not know when, but everything points to that being the case.
-However, in this cycle not everything goes as in the previous one. This cycle is totally different. Adapt or die: not everything goes up or everything is worth it anymore.
-Memes dominate the sector. People have realized that most “useful” altcoins are smoke.

Some data to keep in mind:👀👀👀
Macro💥
-US debt increases by $473 billion in the last three weeks, causing concerns in the markets and possible future inflationary pressures.
-Trump has more than a 60% chance of winning the election on Polymarket. Markets are already anticipating this scenario.
-The IMF has increased its growth forecast for the UK to 1.1% (0.7% last year). This good projection is based on falling inflation and interest rates, which could boost global growth.
Crypto💥
-Uniswap announced the launch of its own L2, which could be a big catalyst for $UNI in the coming months.
-Hyperliquid, a leading perpetual DEX that is grabbing more and more market share, announced that it would launch its $HYPE token. With no VCs to reduce selling pressure and a very loyal community, it could be one of the launches of the year.
-Apecoin announced its own blockchain called ApeChain, and the $APE token rose by more than 100%.
-Ethereum is deflationary again after several adoption catalysts following months of inflation.
-$BTC re-staking through the Babylon protocol already exceeds $1.5 billion in TVL. This could become one of the next big narratives.

Some ALTa that could be interesting at this time👀👀👀

$BTC in range with little movement.
On the heat map we see that in the 68.5k👀👀👀 area traders continue to short leverage, but the price remains in range.
Today unemployment data is published in the US and we could expect some movement in the NY session...
When the market moves little and without volume, it is possible that the next movement is a manipulation...

NARRATIVE INDICATOR🔎
Last month's performance:
-MEMEs 2.0: +75%
-L1 2.0: +55%
-IA: +44%
-MEMEs 1.0: +26%
-RWA: +23%
-DEFI: +16%
-BTC Ecosystem: +16%
-GameFI: +15%
-BTC: +12%
-Average Performance: +24%
Conclusions:
- MEMEs 2.0 dominate the sector, followed by L1 2.0 and AI.

Memes don't stop🧨
They are outperforming all other tokens.

Bitcoin Weekly Chart Technical Analysis🎃

We're seeing Bitcoin continue to consolidate in a key range between $75k and $49k, just below its all-time high⚡️
Now, liquidity is building up at both ends of the range!
Both long and short liquidations are in play with the market ready to go for them. And we already know... the market always looks to punish the most confident! 😈

Weekly economic calendar🥶
An important week at a fundamental level, the most important ones are published on Thursday👀👀👀, this will probably keep us in range until then.

Whales accumulating $BTC like never before💥💥💥.

An accumulation in the current range unprecedented in the history of bitcoin.
Regardless of how the price moves in the range, the pump is already scheduled.
The macro is supporting, only the last key point is missing, the new retail. And it seems that it is about to fall.
Do you think we will reach the psychological barrier at $100k this cycle?

$BTC Update👀👀👀
The price gained liquidity at 62-61k, and it currently appears to be forming a range in an area worth watching.
We have $59.1k as the first support zone, the lower part of the range and where we could expect a bullish reaction👀👀👀.
The next demand zone in the structure is further down around $55k👀👀👀.

$BTC 💥💥💥Rejection at the top of the channel, for now the price maintains a bearish structure.
The price has just lost support around $65k.
We would expect a correction to the $59-61k area👀👀👀. There we should see a bullish reaction and detect long entries. It is important to maintain the support of $59.1k, we have a demand zone generated by the impulse and the EMA/1d nearby, losing said support would imply going to look for lower levels near $55k, but this would put at risk the bullish structure that is maintaining the price.

$BTC Liquidity💥💥💥
- Large cluster of bearish liquidity at $66k👀👀👀, above recent highs.
If we consolidate $65k strongly it would not be very likely that it will turn around at $69k, it seems more likely that it will attack above $70. Otherwise, if it only hits $66k

Finally, the rate cut was 0.5 bp.💥
Positive market reaction for now.👀👀👀
They have opted to continue increasing inflation and printing more debt.
Today and tomorrow we will have volatility. At the end of the week, the BOJ decision may impact the market more than the FOMC itself.
In the medium/long term we remain bullish, today's decision implies a period of cheaper money for investors. Also M2 at ATH, there is more money in the world than ever before and we do not believe that they will let prices fall before the US elections.
We can see corrections as countries/institutions could sell their assets acquired in dollars to repay loans and acquire new cheaper debt to inject into the markets later.

$BTC Heatmap so you can see what zone we are in right now🔥🔥🔥.

$BTC has managed to consolidate above 57K, and is now in the 60k zone. We are currently above the VPOC, if we manage a daily close in this zone we could move back into the range between 60K and 66K.

Key facts of the week $BTC ,$AAVE , $GOOG, $AAPL