Stormrake - Insights #Assange BitcoinStormrake - Insights #Assange Bitcoinhttps://www.stormrake.com/blogs/tag/assange-bitcoinThu, 16 Apr 2026 03:46:47 +1000http://zoho.com/sites/<![CDATA[How will Tonight's US CPI affect Bitcoin?]]>https://www.stormrake.com/blogs/post/how-will-tonight-s-us-cpi-affect-bitcoin
Bitcoin is on the verge of closing its third consecutive bearish day since breaking above $64.5k, giving the impression that BTC is stuck in a persistent range. Volatility is expected to continue tonight with the release of US CPI data at 11:30pm AEST. The question remains: will this event drive BTC back up to the mid-$60k range, or will it trigger another drop below $60k?

The Consumer Price Index (CPI) is one of the key metrics used to measure inflation. Released monthly, these figures help central banks assess whether their strategies to combat inflation are effective.

Historically, CPI announcements have triggered volatility across all asset classes, not just Bitcoin. The data affects everything from Bitcoin to Gold, the USD, the S&P500, and other foreign currencies.
The chart above highlights the volatile impact CPI days have had on Bitcoin year-to-date, with an average price movement of 6.22% from high to low. In comparison, the last few of days, while still volatile, exhibited more modest ranges of 3.65%, 2.15% and 2.90%, respectively, which is much lower than the typical fluctuation seen on CPI days.

What to expect from CPI data:

The previous monthly CPI reading was 0.3%, and the forecast anticipates a slight decrease to 0.2%. There are three possible outcomes: the CPI could meet, exceed, or fall below expectations.

  • CPI Higher than Forecast: A higher-than-expected CPI indicates rising inflation and is bullish for "risk-off" assets like the USD. In response, "risk-on" assets such as Bitcoin may see a decline.
  • CPI In Line with Forecast: If the CPI meets expectations, Bitcoin and other assets are likely to continue their current trends without much influence from the data.
  • CPI Lower than Forecast: A lower-than-expected CPI suggests that inflation is cooling, which is bullish for risk-on assets like Bitcoin. This could shift the short-term trend back to bullish and push Bitcoin's price higher.

Stormrake Spotlight: SUI ($1.86)

We’ve briefly mentioned SUI in previous Stormrake Spotlights, but it has yet to be our coin of focus. However, in the past month, SUI has surged by over 100%. For context, Bitcoin (BTC) is up 10% for the month, and Ethereum (ETH) has only gained 3%. Notably, SUI is one of the few coins trading within 20% of its all-time highs. Investors should take note of SUI's recent strength, as it is poised to be one of the leading coins when Bitcoin reverses and the bull run resumes.

BTC/USD Key Levels and Price Action:

Bitcoin struggled to hold above the top CPR level and its moving averages, eventually failing to bounce off this support and falling to the key $60.1k level, wiping out over $100 million in leveraged longs. Previously, BTC has bounced off this $60.1k level, will it do so again, or will we see a break below, leading to a drop to the next support at $57.7k?

BTC Total ETF Flows for 9 Oct: $  0 million

(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:

Like Bitcoin, Ethereum has failed to stay above its moving averages and now appears to be approaching the CPR support line at $2,260. While a bounce at this level is likely, Ethereum is expected to remain in its downtrend for the time being.

ETH Total ETF Flows for  9 Oct: $  0 million

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
To receive the Morning Note in your inbox. Subscribe here: https://stormrake.substack.com/

Written by Alexandar Artis

Create a brokerage account today

Get Started

No Advice Warning 

The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
Stormrake is not a financial adviser and does not provide financial product advice. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Stormrake is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this newsletter.
 

Disclaimer 

All statements made in this newsletter 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.

Copyright © 2024 Stormrake Pty Ltd, All rights reserved
]]>Thu, 10 Oct 2024 13:29:46 +1100<![CDATA[Short-Term Volatility Continues to Hit Bitcoin: Cascading Liquidations]]>https://www.stormrake.com/blogs/post/short-term-volatility-continues-to-hit-bitcoin-cascading-liquidations
Yesterday, we identified the expected volatility over the short term. As anticipated, the wide range between long and short liquidations provided both the top and the bottom of the market. Almost immediately after I published yesterday's morning note, Bitcoin broke down, triggering a wave of long liquidations at $62,500.

This liquidation had a cascading effect, pushing the price down to $62,000 before bouncing back to $63,200 in the early morning. However, it soon retraced again to the current price of $62,060. For short-term traders, it's crucial to stay aware of the heightened volatility, with 2% moves occurring every few hours.

The next major liquidation level sits at $61,800, where over $125 million worth of BTC longs could be liquidated. Bitcoin is now less than $300 away from this level. If these leveraged longs get liquidated, we could see a short-term bounce before a potential further decline.

That said, this is purely a short-term trend, and our long-term position on Bitcoin remains unchanged, as we continue to see an overall bullish structure. While short-term trends may flip quickly, any downtrend should be viewed as a buying opportunity in line with the long-term outlook.

Stormrake Spotlight: WIF ($2.45)

As the broader market moves slightly lower, WIF has lost 4% on the day. Meme coins, in general, should be considered leveraged bets on Bitcoin and other large market cap cryptocurrencies. Their volatility is unparalleled, and they tend to perform well in bullish, risk-on market environments.

These are not coins you should be DCAing (dollar-cost averaging) into. Opportunities may arise once the market shows a clear bullish direction. Until then, the risk is high, and trades should only be made after conducting thorough research and ensuring you're comfortable with the potential downside.

BTC/USD Key Levels and Price Action:

Bitcoin is currently testing the top CPR line for the fifth time in less than 24 hours, while also falling below all moving averages. A bearish crossover of the 21 and 55 EMA has occurred. The top CPR support sits at $62,060, and if this fails to hold, combined with the potential long liquidations at $61,800, we could see Bitcoin retest the middle CPR support level at $60,800.

BTC Total ETF Flows for 8 Oct: $  - 9.4 million

(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:

Overnight, Ethereum remained relatively sideways and did not experience the same volatility as Bitcoin. However, ETH has failed to break above the 200 EMA and is now trading below all major moving averages as well as the middle CPR levels. This weakness is expected to continue, particularly if Bitcoin shows further short-term signs of weakness. While ETH's next significant support level is some distance away, it remains at the red CPR line of $2,260.

ETH Total ETF Flows for  8 Oct: $  - 4.5 million

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
To receive the Morning Note in your inbox. Subscribe here: https://stormrake.substack.com/

Written by Alexandar Artis

Create a brokerage account today

Get Started

No Advice Warning 

The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
Stormrake is not a financial adviser and does not provide financial product advice. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Stormrake is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this newsletter.
 

Disclaimer 

All statements made in this newsletter 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.

Copyright © 2024 Stormrake Pty Ltd, All rights reserved
]]>Wed, 09 Oct 2024 14:17:02 +1100<![CDATA[Bitcoin's Volatile Day: Key Liquidation Levels Signal Potential Breakout]]>https://www.stormrake.com/blogs/post/bitcoin-s-volatile-day-key-liquidation-levels-signal-potential-breakoutBitcoin experienced extreme volatility, with key liquidation levels at $62,500 and $64,750 serving as crucial support and resistance, potentially signaling future price movements.]]>
Yesterday was one of the most volatile days we've seen for Bitcoin in a while, with multiple 2+% moves up and down, shaking out both bulls and bears, and liquidating long and short positions in the process.
When liquidations occur, positions that once provided support or resistance for Bitcoin vanish. As the liquidation heatmap shows, there is a significant volume of leveraged positions at $62,500 and $64,750. If Bitcoin reaches these levels, those positions will be wiped out. Should BTC break below $62,500, we could expect a further drop toward $60.1k, while a break above $64,750 could push BTC up to $66k.

With nearly a 4% range between these key liquidation levels, Bitcoin is likely to remain volatile, using these areas as critical support and resistance. If leveraged longs are wiped out, it could present a buying opportunity, as it may only be a matter of time before the higher-level shorts are liquidated.

Stormrake Spotlight: WIF ($2.61)

DOGWIFHAT (WIF) is one of the big dogs of the memecoin sector. You might be wondering why I've shifted focus from projects like SOL, ETH, and FTM to a meme coin. Well, this isn't just a teaser for the upcoming 'Thunder Trading' article that will be released later this week, memes play a significant role in the cryptocurrency ecosystem. Despite being less than a year old, WIF has established itself as a staple in the memecoin space, with a 70% price rise over the past 30 days. However, it remains 50% below its all-time high set in March of this year. Still considered a small-cap asset with a market cap of just $2.6 billion, WIF has the potential for significant growth during a bull market. Memecoins can be rocket fuel for a crypto portfolio, but understand that with the potential for increased upside comes a sharp increase in volatility and risk. If you're unsure about how much to allocate, consult your dedicated Stormrake Crypto Broker.

BTC/USD Key Levels and Price Action:

As anticipated, Bitcoin reached the key resistance level of $63.8k, testing it twice within the past 24 hours. BTC failed to break it on the first attempt, retracing 2% before bouncing off the confluence of moving averages. It briefly broke above, reaching a high of $64.5k, where bears defended the level, pushing BTC back down to the 55-EMA at $62.7k before bouncing again to the current level of $62.3k. The momentum favors the upside, so we can expect another retest of the $63.8k resistance. Any pullbacks should be viewed as buying opportunities, as long as BTC remains above its moving averages.


BTC Total ETF Flows for 7 Oct: $  N/A

(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:

While Bitcoin is actively retesting resistance, Ethereum continues to struggle with its moving averages and CPR levels. The key level for ETH remains $2,556, but it will only reach this if it can clear the numerous moving averages acting as barriers. While ETH remains bullish versus the USD, it is underperforming against Bitcoin. Until this trend shifts, BTC may offer better opportunities than ETH. Downside support for ETH stands at $2,260.

ETH Total ETF Flows for  7 Oct: $  N/A

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
To receive the Morning Note in your inbox. Subscribe here: https://stormrake.substack.com/

Written by Alexandar Artis

Create a brokerage account today

Get Started

No Advice Warning 

The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
Stormrake is not a financial adviser and does not provide financial product advice. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Stormrake is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this newsletter.
 

Disclaimer 

All statements made in this newsletter 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.

Copyright © 2024 Stormrake Pty Ltd, All rights reserved
]]>Wed, 09 Oct 2024 14:04:02 +1100<![CDATA[Julian Assange and the Real-World Case for Bitcoin’s Importance...]]>https://www.stormrake.com/blogs/post/Julian-Assange-and-the-Real-World-Case-for-Bitcoin-s-Importance...Julian Assange’s adoption of Bitcoin highlights its vital role in providing financial freedom beyond traditional systems.]]>
Julian Assange, the creator of WikiLeaks, has spoken publicly for the first time since his release from prison. You might be wondering what this has to do with our cryptocurrency morning notes. Assange was among the earliest notable adopters of Bitcoin after being debanked personally, and WikiLeaks was also blocked from receiving payments through traditional banking and payment providers. This occurred in 2010, just a year after Bitcoin’s inception, at a time when the concept was foreign to most.
From that point on, WikiLeaks continued to invest in Bitcoin and saw a staggering 50,000% return by 2017. Bitcoin "maximalists" rallied behind Assange and continued to support him with donations during his imprisonment.

The respect Assange holds within the crypto community was on full display during his release from long-term imprisonment in the UK this past June. An anonymous donor gifted him 8 BTC, valued at approximately $736,000 AUD. These donations also covered Assange's jet and recovery expenses, which totaled $520,000 USD.

Assange’s story highlights why Bitcoin is so vital. It not only serves as protection against the risks of fiat currency but also offers an alternative means of storing wealth, free from third-party liabilities or the danger of asset freezes. Bitcoin grants financial freedom beyond traditional systems and should be viewed as more than just an investment.

Stormrake Spotlight: Solana ($146.20)

Solana has risen 10% since we first mentioned it last week and is now approaching the bullish half of the range. A breakout here could see SOL continue toward the range highs of $170. Until then, remain patient and consider pullbacks as opportunities to dollar-cost average (DCA) into your positions. Check back tomorrow for the next Stormrake Spotlight.

BTC/USD Key Levels and Price Action:

Bitcoin has maintained its bullish momentum, breaking above all key moving averages, particularly the 200 SMA. If BTC can hold above this moving average at $62,700, there’s a good chance it will re-test the key resistance level of $63,800.

BTC Total ETF Flows for 6 Oct: $  N/A

(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 may finally be showing signs of strength. ETH has broken above the 21 and 55 EMAs, causing a bullish crossover between the two. This short-term trend suggests ETH could attempt to move back toward the key resistance level of $2,556, though it will likely encounter resistance from both the 200 moving averages and CPR levels.

ETH Total ETF Flows for  6 Oct: $  N/A

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
To receive the Morning Note in your inbox. Subscribe here: https://stormrake.substack.com/

Written by Alexandar Artis

Create a brokerage account today

Get Started

No Advice Warning 

The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
Stormrake is not a financial adviser and does not provide financial product advice. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Stormrake is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this newsletter.
 

Disclaimer 

All statements made in this newsletter 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.

Copyright © 2024 Stormrake Pty Ltd, All rights reserved
]]>Mon, 07 Oct 2024 14:39:05 +1100