Stormrake - Insights #October BullishStormrake - Insights #October Bullishhttps://www.stormrake.com/blogs/tag/october-bullishThu, 23 Apr 2026 00:34:25 +1000http://zoho.com/sites/<![CDATA[Bitcoin Surges to New All-Time Highs]]>https://www.stormrake.com/blogs/post/Bitcoin-Surges-to-New-All-Time-HighsBitcoin is riding the momentum from Donald Trump’s U.S. election victory. Here we go…]]>
Bitcoin has been on a tear, setting multiple new all-time highs in the past 24 hours alone. Starting from $74,500, it quickly surged past $75,000 and reached a fresh peak of $76,244. With a 9% increase in a single day, Bitcoin's rally shows no signs of slowing down.

In yesterday's morning note, we mentioned that achieving a new all-time high in the short term might hinge on a Trump victory. The high came sooner than expected, with Bitcoin prices rallying alongside Trump’s strong initial performance. As swing states were being counted, Bitcoin’s correlation with Trump’s chances seemed evident, with BTC climbing even before any official victory was declared. Just four hours after vote counting began, Bitcoin set a new all-time high.

                                                         Whilst we were not phased with who won the election, as both sides were long term bullish for Bitcoin. A Trump win is bullish for Bitcoin for several reasons: rising U.S. debt levels, support for a Bitcoin Strategic Reserve, the possible dismissal of SEC Chair Gary Gensler, and Bitcoin's currently bullish structure. For a more in-depth look at these factors, read our recent Thunder Trading article here: Bitcoin Hits New All-Time High Amid Trump’s Election Win
This outcome is as good as it gets from a cryptocurrency perspective. Just look at the sea of green—nearly every top 100 cryptocurrency is up over 15%, including all of our featured Stormrake Spotlight coins (GOAT, SUI, FTM, TAO, SOL, TIA).

If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: TAO ($523.1)

TAO has surged 20% since our mention in the Morning Note two days ago. While the entire crypto market has rallied as expected, TAO has outperformed and led the way in this bullish trend. As Bitcoin's rally continues, TAO is expected to follow suit.

BTC/USD Key Levels and Price Action:

Bitcoin has broken through previous price resistance levels, with the only remaining hurdle being the dotted green CPR level at $73.6k. Given the strong buying momentum, we anticipate Bitcoin will continue its upward trajectory. Any pullbacks to the 21 EMA should provide solid support, likely leading to a strong bounce.

BTC Total ETF Flows for  6 Nov: $  N/A 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:

Ethereum has benefited from Bitcoin’s rally, and for the first time in 24 hours, ETH has slightly outperformed BTC. However, it still trails behind other major altcoins like Solana and Sui. ETH has yet to reach new highs and faces resistance at $2,750 and $2,865. Like BTC, the 21 EMA serves as a key support level that could provide a springboard for future gains.

ETH Total ETF Flows for 6 Nov: $  N/A million

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
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Written by Alexandar Artis

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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, 07 Nov 2024 14:44:03 +1100<![CDATA[Today is the Day Bitcoin Wins Again]]>https://www.stormrake.com/blogs/post/Today-is-the-Day-Bitcoin-Wins-Again
US election day is upon us, but a new Bitcoin all-time high also looms.

In the past 24 hours, Bitcoin has rallied, increasing over 5.5% from yesterday’s low. Why? It’s no secret that a Donald Trump victory is seen as bullish for Bitcoin, both in the short and long term. Over the past week, Bitcoin’s price has strongly correlated with Trump’s odds of winning the election.

When Trump’s odds were rising, reaching a 67% chance to win (Polymarket) and $1.53 (Sportsbet), Bitcoin approached its previous all-time high. However, over the last five days, Trump’s odds fell from 67% to 55%, with betting markets adjusting to $1.75, and Bitcoin responded by declining. We saw a low of $66.8k yesterday. Since then, Trump’s odds have increased to 61%, with odds of $1.57, and Bitcoin has climbed by over 5.5%, trading back above $70k. This election will likely dictate Bitcoin’s short-term direction until a winner is decided. Although Trump is currently the favorite, election results often fluctuate as states announce their counts, creating potential dips and buying opportunities. Contact your Stormrake Broker; we’re monitoring Bitcoin and the election closely and are ready to assist with your Bitcoin purchases.

The short-term outlook is simple: if Trump wins, Bitcoin could rally and reach new all-time highs. If Kamala Harris wins, Bitcoin might see a pullback (not a reversal), but all-time highs will still follow.

The long-term outlook is even clearer: Bitcoin is set to win regardless of the election result, with six-figure Bitcoin on the horizon in 2025.
If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: TAO ($454.5)

TAO has once again demonstrated strength as a solid coin during bullish market conditions. From yesterday’s low of $403, TAO surged by 15% and is now up 5% from our initial mention in the Morning Note. TAO remains a coin to watch, with pullbacks presenting buying opportunities. This is a great example of Stormrake Spotlight’s effectiveness, as dollar-cost averaging into a robust altcoin during market dips can yield strong returns.

BTC/USD Key Levels and Price Action:

Bitcoin bounced perfectly from the key support level yesterday, rallying up to our target of $70k. With this move, Bitcoin has flipped short-term bullish once more, with the 21 and 55 EMA crossing and BTC trading above both. Although BTC was initially rejected at this target, it’s likely to retest this level soon, now supported by the 21 EMA, which has consistently acted as a solid bounce level during bullish momentum. Once we clear $70k, the next target is $71.7k. A sharp rally to this level could potentially smash through to new all-time highs—especially if Trump wins.

BTC Total ETF Flows for  5 Nov: $  N/A 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:

Ethereum continues to lag, trading only 2.5% above yesterday’s low. It remains below all moving averages and hasn’t flipped into a bullish trend, unlike major altcoins like SOL and SUI, which are now trading 7% and 10% higher, respectively. Until ETH shows signs of bullish momentum, it’s will continue to underperform Bitcoin and other altcoins. Key levels for ETH remain at $2,556 and $2,300.

ETH Total ETF Flows for 5 Nov: $  N/A million

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
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Written by Alexandar Artis

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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, 07 Nov 2024 14:27:08 +1100<![CDATA[Election Day Looms, but Bitcoin Remains the Ultimate Winner]]>https://www.stormrake.com/blogs/post/election-day-looms-but-bitcoin-remains-the-ultimate-winner
With less than 24 hours until the US election, Bitcoin investors remain uncertain as the price continues to retrace after nearly reaching its all-time high less than a week ago. Betting odds still favor a Trump victory, while polls and sentiment suggest a much closer race. As anticipated, short-term volatility has spiked and is likely to persist. It is assumed that a Trump victory could trigger a short-term rally, pushing Bitcoin back above its all-time high, while a Harris victory might initially lead to a dip before a rebound to the upside.
The above image is how we view this election, regardless of the outcome, Bitcoin wins. Here’s our outlook for both scenarios:

If Donald Trump Wins: Trump has promised to create a Bitcoin Strategic Reserve, using government funds similarly to how the U.S. manages its oil reserves. This means the U.S. government would start buying and storing Bitcoin. This strategy would boost demand and enhance the government’s supportive stance on Bitcoin, resulting in higher Bitcoin prices.

If Kamala Harris Wins: Unlike Trump, Harris has yet to clarify her stance on Bitcoin, and her victory is generally seen as less bullish for Bitcoin in the short term. She hasn’t proposed anything comparable to Trump’s approach, so many expect an initial drop if she wins. However, the long-term impact of a Harris presidency is bullish for Bitcoin. It’s likely that her administration would turn on the “money printer” again to address the U.S.’s record debt levels. An increase in USD circulation would devalue the dollar and could lead more money to flow into Bitcoin, similar to the influx seen in 2021 when government handouts fueled investment in assets like Bitcoin.

TLDR: No matter who wins, Bitcoin stands as the true winner…
If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: TAO ($420.5)

TAO remains one of our top picks for the upcoming bull run. Amid market uncertainty, opportunities arise. While TAO is a strong coin in bullish conditions, it’s currently undergoing a pullback, which could provide a buying opportunity. Allocate wisely and consider dollar-cost averaging (DCA) into altcoins during dips.

BTC/USD Key Levels and Price Action:

ETH/USD Key Levels and Price Action:

Ethereum continues to face resistance as Bitcoin’s downtrend drags on. The 21 EMA remains a crucial resistance level for ETH, keeping the trend bearish. The $2,300 level is a key support for ETH and could be tested if BTC declines further. Conversely, if BTC turns bullish, ETH may retest the $2,556 level.

ETH Total ETF Flows for 4 Nov: $  - 42.7 million

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
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Written by Alexandar Artis

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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, 07 Nov 2024 14:17:41 +1100<![CDATA[A Historic Week Ahead for Bitcoin and Markets]]>https://www.stormrake.com/blogs/post/A-Historic-Week-Ahead-for-Bitcoin-and-Markets
If you could pinpoint two events with the potential to significantly impact every market, interest rate decisions and a U.S. election would top the list. Interestingly, both of these events are set to occur later this week. The U.S. election is scheduled for Wednesday, followed by the U.S. interest rate decision early Friday morning.

As both events carry a high degree of speculation, major market volatility is expected, particularly in Bitcoin and the broader crypto space. This election is the most closely contested in years, with betting odds for Trump declining over the past week (dropping from 67% to 55% on Polymarket and shifting from $1.53 to $1.72 on Sportsbet). This uncertainty is already reflected in Bitcoin's price: when Trump was heavily favored, Bitcoin was rallying and testing all-time highs. However, as the odds tightened, Bitcoin retraced over 8% from its recent high. With less than 72 hours until this ‘coin-flip’ election, volatility will likely ramp up further, persisting not only through the election but until Friday’s rate decision as well. Despite potential short-term volatility and downside risk, our long-term stance on Bitcoin remains bullish, as does its long-term technical structure. If the market dips in the short term, it should be seen as a buying opportunity.

Friday’s interest rate decision is likely to result in a second rate cut since 2021, with a 98% probability of a 25 bps cut. Since this announcement follows the election, it’s challenging to predict market conditions just before the rate decision. Further analysis will be included in Thursday’s Morning Note, by which time we should know the election outcome and have insight into market reactions.
If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: TAO ($433.58)

Bittensor (TAO) has been one of the strongest performers over the last 12 months, seeing nearly a 400% increase. However, it has recently experienced a pullback, currently presenting an attractive entry opportunity. TAO has consistently led during bullish market conditions, and as always, identifying leaders during these periods and allocating during pullbacks is a sound strategy. TAO is presently down 50% from its all-time high in March, representing a potential 100% gain if it returns to that level. Assuming altcoins continue to lead, TAO could be one of the frontrunners hitting new highs.

BTC/USD Key Levels and Price Action:

Bitcoin has continued its pullback, maintaining a short-term bearish trend and reaching a low of $67.5k, where it encountered support at a monthly CPR level. BTC has since reclaimed the 21 EMA but faces resistance at the 55 EMA. To signal a short-term bullish trend, BTC would need to break and sustain above the 55 EMA, ideally trading above $70k. Support remains solid around $68k, but the election will heavily influence short-term direction. Long-term bullish momentum remains as long as BTC stays above $65,250.

BTC Total ETF Flows for  3 Nov: $  N/A 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:

Ethereum remains in a bearish trend below all key moving averages and appears to be approaching lower levels. Depending on Bitcoin's reaction to this week’s events, ETH is expected to underperform in either direction. A bullish BTC could push ETH to reclaim $2,556, whereas a bearish BTC may see ETH dropping to $2,300.

ETH Total ETF Flows for 3 Nov: $  N/A 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, 07 Nov 2024 14:09:02 +1100<![CDATA[Anticipated Volatility Becomes Reality: Bitcoin’s Highs and Lows]]>https://www.stormrake.com/blogs/post/anticipated-volatility-becomes-reality-bitcoin-s-highs-and-lows
What a wild day for Bitcoin! It dipped below $69k, almost reached $72k, and then settled back to $69k—all within a few hours. The volatility is here, and while it may present opportunities, caution is advised.

We've been emphasising that as the U.S. election approaches and uncertainty grows, Bitcoin’s volatility will likely continue to increase. Earlier this week, Trump was favored by bettors, with Polymarket giving him a 67% chance of victory and Sportsbet paying $1.53 for his win. Meanwhile, polls and sentiment suggested a much closer race. Over the last few days, however, Harris has gained ground, and Trump’s chances on Polymarket have dipped to 58%.

It’s no coincidence that when Bitcoin was testing all-time highs, Trump’s probability of winning was also at its peak. Now, as his chances have declined, Bitcoin has similarly pulled back. Many view Trump as pro-Bitcoin, seeing him as a bullish catalyst over the past year. Bitcoin has endured over a decade of scrutiny from politicians and governments and recently gained significant acceptance and adoption. Regardless of which party wins next week, our bullish stance on Bitcoin remains, and we view any potential dips as buying opportunities.
If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: DOGE ($0.1608)

Doge has remained resilient and is one of the few coins holding gains since Tuesday. During uncertain times, we recommend focusing on strengthening your Bitcoin position rather than venturing into altcoins. Once Bitcoin resumes its upward trend and market uncertainty fades, then consider solid altcoins like Doge.

BTC/USD Key Levels and Price Action:

As mentioned, Bitcoin was extremely volatile overnight. After dropping below $69k, it found strong support from the 200 moving averages and the monthly CPR pivot level. Bitcoin then bounced and retested the $71.7k target before being met with major selling pressure, resulting in a -3% hourly candle. BTC remains in a neutral trend, with significant support at $69k, which will likely hold before another move higher.

BTC Total ETF Flows for  1 Nov: $ - 54.9 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:

As expected, Ethereum continues to underperform Bitcoin, both on the upside and downside. Unlike BTC, ETH is in a bearish trend, trading below all moving averages, the key $2,556 level, and all the monthly CPR levels. The only scenario in which ETH could rally is if BTC reclaims its bullish momentum.

ETH Total ETF Flows for 1 Nov: $ - 11.4 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, 07 Nov 2024 14:02:01 +1100<![CDATA[The Dip is Here: A Bullish Opportunity to Buy Bitcoin]]>https://www.stormrake.com/blogs/post/the-dip-is-here-a-bullish-opportunity-to-buy-bitcoin
Overnight, all major markets have experienced a pullback, including the traditional S&P 500, Gold, Silver, various currencies like the USD, and cryptocurrency markets.

Despite the broad market downturn, there’s no cause for concern. The S&P, Gold, and Bitcoin are either at or approaching all-time highs, and a pullback is common after extended bull rallies. Let’s focus on Bitcoin…

Only a week ago, Bitcoin was trading below $66k. It then rallied over 12% to $73.6k without a pullback, so a correction was inevitable—and here it is. Bitcoin has pulled back 4.4% from Tuesday's high, which is actually bullish. Here’s why this pullback signals strength.
For those who read the latest Rake Review, this chart should look familiar. It’s important to understand the current trend: Bitcoin set a higher high on Tuesday and is now pulling back, poised to establish another higher low. This price action further solidifies the bullish structure and supports the ongoing bull flag pattern. The target of $88k remains, strengthened by the pullback staying above the recent higher low of $65,250. Although I don’t expect Bitcoin to drop to this level, it’s the maximum pullback Bitcoin can afford to remain bullish. Bitcoin is likely to hold around $69k and continue higher from there, making this a prime opportunity to buy the dip and position for the bull run and new all-time highs.


With the U.S. election less than a week away, market volatility is anticipated to increase. This election could be one of the most impactful events in recent history, and with uncertainty around the outcome, heightened volatility is expected. While betting markets slightly favor a Trump victory, polls suggest it could go either way. Regardless of the result, even if a pullback occurs following a Harris win, our long-term conviction in BTC remains strong, with expectations for continued growth through 2025.

If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: DOGE ($0.16233)

Even with the current pullback, Doge is outperforming many other altcoins, down only 3.5% on the day compared to others losing over 5%. Doge remains up since our first morning note and will likely lead the way for altcoins once this pullback concludes and the market rallies again.

BTC/USD Key Levels and Price Action:

Bitcoin recently pulled back through the key support level of $71.7k. After breaking this level, BTC rebounded sharply off the 200 EMA and is now trading above another key support at $70k. Despite a short-term bearish cross of the 21 and 55 EMA, the strength of the rebound—nearly 1.5% in under four hours—demonstrates Bitcoin’s resilience in the current market. Once the dip is confirmed as complete, the short-term upside target is $71.7k, setting up a another attempt at the all-time high.

BTC Total ETF Flows for  31 Oct: $ - 105.1 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:

Ethereum has retraced, giving up its gains from recent days. ETH now trades below all key moving averages and the critical level of $2,556, which has been a key level since August. We can expect ETH to follow Bitcoin’s price action, although likely underperforming in both directions.

ETH Total ETF Flows for 31 Oct: $ - 36.6 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, 07 Nov 2024 13:49:45 +1100<![CDATA[The Rake Review: October 2024]]>https://www.stormrake.com/blogs/post/The-Rake-Review-October-2024October lived up to its ‘Uptober’ reputation, with Bitcoin making solid gains and setting the stage for potential new highs.]]>

October Did Not Disappoint

October lived up to its ‘Uptober’ reputation, with Bitcoin making gains and setting the stage for potential new highs. 

Another successful 'Uptober'

After some early doubt and fear, October has officially been another successful month for BTC and continues to live up to its name of ‘Uptober’. In previous Octobers, Bitcoin saw an average return of 23%. At the time of writing, Bitcoin is up +14.6% since October 1 and is looking to continue higher in November. 

October has been a rollercoaster to say the least, with the month opening at $63,400 before spending the first week or two struggling to make any progress to the upside and even falling below $60k briefly. Whilst things were looking bearish for the short term, our long term faith was not wavered as the long term structure we identified had remained in play. Will Uptober be the month to send Bitcoin to new all time highs or be the ignitor for November to be the month we see a new all time high.

Bitcoin Technical Analysis:

Bitcoin vs USD

A clearer view of the chart can be found here: https://www.tradingview.com/x/BsCN8quF/ 
In last month's Rake Review, we discussed Bitcoin’s bull flag formation, a bullish pattern that has now broken to the upside, showing promising momentum. After testing the top of the channel, Bitcoin has continued higher, reinforcing our target of $88k. The strong structure of higher highs and higher lows keeps this target within reach. 

Bitcoin currently faces resistance at its previous all-time high from March. This level might prompt a pullback, but as long as BTC remains above its recent higher low at $65,250, the bullish trend persists. Minor pullbacks on shorter timeframes may offer good entry points to further allocate toward your Bitcoin positions.

Bitcoin Dominance

A clearer view of the chart can be found here: https://www.tradingview.com/x/0QAJRsAI/
The chart above compares Bitcoin dominance (yellow line), Bitcoin price (purple line), and Total 2 (the total crypto market cap excluding Bitcoin - cyan line). Bitcoin dominance represents the percentage of the overall cryptocurrency market cap made up by Bitcoin, highlighting its relative strength and influence in the market.

The chart above shows Bitcoin dominance (yellow line), Bitcoin price (purple line), and Total2 (the entire crypto market cap excluding BTC - cyan line). Currently, Bitcoin dominance is at levels not seen since April 2021 and is likely to continue rising. When dominance increases, more capital flows into BTC, leading to price appreciation. Now at 60%, Bitcoin dominance has historically reached around 67.39% in previous bull runs. Typically, dominance peaks within 12 months of BTC’s cycle high, marking the blow-off phase where both Bitcoin and altcoins rally to new all-time highs. Indications suggest that late 2025 could be the peak of the bull run.

While a drop in BTC dominance doesn’t mean a price decline, it does indicate that capital flows out of other coins while new funds enter the crypto space, lifting both BTC and altcoins. We expect Bitcoin dominance to rally to around 67% over the coming months before it peaks. When this peak occurs, the entire crypto market could reach even higher levels in 2025. In bear markets, both prices and dominance decline as capital exits the crypto space or moves into stablecoins like USDT or USDC. Prepare for the bull run by continuing to accumulate Bitcoin—contact your personal Stormrake Broker to seize this golden opportunity.

What’s Next for Bitcoin in November?

If you thought October was volatile, brace yourself for November. Bitcoin is testing its previous all-time high, with the US election just days away. Regardless of the election outcome, Bitcoin’s long-term position remains strong. Expect significant volatility in the first couple of weeks (similar to October) before Bitcoin regains stability and likely continues its climb toward our bull flag target of $88k.

Market Update

Top 10 cryptocurrencies by market cap
Here is the fast five of what you need to know about the market in October 2024:
    1. Bitcoin ends October up 14% after recovering from an initial 7% dip.
    2. TON fell out of the top 10, replaced by TRON.
    3. Solana outperformed Ethereum with a 15% gain compared to Ethereum’s 2.4% rise.
    4. SPX6900 entered the top 100, soaring 432% this month.
    5. Memecoins were the hottest category, with some gaining over 50%, 100%, and even 200%.

    Video of the month

    How the US election may affect Bitcoin?

    In the news

    United States Presidential Election:
    With the US election less than a week away, it’s shaping up to be one of the most pivotal in recent memory. Since Harris replaced Biden, the race has tightened, with betting odds currently leaning in Trump’s favour. Polymarket gives Trump a 66% chance of victory, while Sportsbet offers odds of $1.55. Despite these odds, polling suggests the race is still close, and many consider it a virtual toss-up.

    For the crypto sector, a Trump victory is seen as favourable, with Trump proposing a US Bitcoin Strategic Reserve and even incorporating Elon Musk into his campaign—a strong crypto advocate. Harris, on the other hand, has made minimal statements about cryptocurrency, and Democrats have historically been more critical of digital assets. The prospect of a Trump win has already fueled Bitcoin’s rally as investors potentially price in his victory. If Harris wins, a market dip might follow, creating a “buy the dip” opportunity for Bitcoin before the bull run continues. Regardless of the election’s outcome, market sentiment points to a bullish trend into 2025, as fundamental support for crypto remains strong.
    BRICS Members Begin Bitcoin Mining
    At a recent BRICS meeting, new members UAE, Argentina, and Ethiopia revealed they have begun government-backed Bitcoin mining operations. This shift reflects BRICS countries' growing interest in digital assets to bolster economic resilience and potentially move away from Western financial systems. As the coalition grows in economic power, Bitcoin may emerge as a preferred currency for these nations, prompting further global interest in adopting Bitcoin.

    Bitcoin and Ethereum ETF Performance:

    October was a record month for Bitcoin and Ethereum ETFs, with the Spot Bitcoin ETF seeing $870 million in net inflows on October 29 alone—the third highest day since inception. U.S. ETFs now hold almost 1 million Bitcoin, just behind Satoshi Nakamoto's holdings. If this trend continues, ETFs could become the largest Bitcoin holders by November. Spot Bitcoin ETFs have had nearly continuous inflows since October 14, totaling $4.5 billion, while the Spot Ethereum ETF saw net inflows of $65.1 million in the same period.

    Education

    Stormrake's Morning Note:

    For those who want to stay engaged with the crypto market, Stormrake has relaunched the Morning Note, a daily 3-4 minute read covering the previous day's trading, key events, and upcoming highlights. It also includes the “Stormrake Spotlight” to feature coins we believe have strong performance potential.

    In recent spotlights, coins like Sui (35% gain), Solana (30%), Goat (80%), and Fantom (55%) have achieved significant gains. These aren’t just short-term plays; we have long-term conviction in these picks. Stay ahead by subscribing and let us handle the research, so you’re prepared for the bull run. 

    Subscribe to the Morning Note here: https://stormrake.substack.com/

    Stormrake is heading to the Australian Crypto Convention

    We’re thrilled to be sponsoring the Australian Crypto Convention in Sydney on November 23-24! As a sponsor, we’ll have a dedicated booth at the event, and we invite you all to come by, meet our team, and enjoy exclusive perks. Our directors and key members from both the trading and brokerage desks will be there, ready to connect and discuss the latest in crypto.

    Our booth will feature a popcorn machine for a quick snack, and potentially a Stormrake DJ booth and an exclusive party for our clients. We’re offering discounted tickets—contact your Stormrake Broker for details or follow the link below to secure yours. We look forward to seeing you there!

    Written by Alexandar Artis

    Memes of the month

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    If you enjoyed this Rake Review, feel free to open an account and gain access to more proprietary research and work with your very own dedicated crypto broker.

    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 © 2022 Stormrake Pty Ltd, All rights reserved
    ]]>    Thu, 31 Oct 2024 15:46:07 +1100    <![CDATA[95% of Bitcoin Holders are in Profit: A Sign of a Bullish Surge?]]>https://www.stormrake.com/blogs/post/95-of-bitcoin-holders-are-in-profit-a-sign-of-a-bullish-surge
    Bitcoin is pumping and is now less than 2% away from creating a new all-time high. This means that the overwhelming majority of the Bitcoin supply is in profit—an extremely bullish signal for Bitcoin and all its holders. Such levels of profit typically indicate the beginning of a parabolic rise.
    The chart above shows the percentage of Bitcoin supply in profit relative to the price of Bitcoin. Historically, whenever more than 90% of the Bitcoin supply is in profit, Bitcoin’s price often starts a parabolic move upward. As the percentage of coins in profit climbs to 95%, we commonly see Bitcoin setting new highs and continuing its upward trend as long as the supply remains above this 95% profit threshold. A decline below 95% after a prolonged period at or above this level has historically signaled a market top. Currently, the percentage of Bitcoin supply in profit has surged back above 90% and even 95%, pushing Bitcoin close to its all-time highs. We can expect prices to keep rising while this measure remains above 95% in profit. Keep an eye on this metric and subscribe to our morning note to stay informed if Bitcoin falls below this level.

    With the U.S. election less than a week away, market volatility is anticipated to increase. This election could be one of the most impactful events in recent history, and with uncertainty around the outcome, heightened volatility is expected. While betting markets slightly favor a Trump victory, polls suggest it could go either way. Regardless of the result, even if a pullback occurs following a Harris win, our long-term conviction in BTC remains strong, with expectations for continued growth through 2025.

    If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: DOGE ($0.16920)

    After four consecutive bullish days, Dogecoin has experienced its first pullback. This is a minor dip compared to the rally it is currently enjoying, and with Bitcoin showing strength, DOGE remains a leader in the space.

    BTC/USD Key Levels and Price Action:

    Bitcoin narrowly missed its previous all-time high and is currently pulling back slightly. The 21 EMA and the key support level around $71.8k are likely to provide support and act as a bounce zone. If BTC bounces here, it may reload for another attempt at the ATH of $73,777. No signs of bearishness are present.

    BTC Total ETF Flows for  29 Oct: $ + 227.2 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:

    Ethereum has shown impressive performance over the past 24 hours, experiencing only a minor pullback to the 21 EMA and maintaining this level. We expect Ethereum to continue its bullish trend, using the 21 EMA as support on its way to the $2,840 target.

    ETH Total ETF Flows for 30 Oct: $ - 3.6 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, 31 Oct 2024 15:23:43 +1100    <![CDATA[Bitcoin Nears a New All-Time High]]>https://www.stormrake.com/blogs/post/Bitcoin-Nears-a-New-All-Time-High
    Bitcoin is on the brink of breaking its all-time high, with its recent surge reaching $73,620 overnight—just $150 shy of the previous high set in March. I anticipated BTC would hit a new peak soon, but it may occur as early as tomorrow.

    Bitcoin dominance continues to rise, now surpassing 60% for the first time since April 2021. This is an incredibly bullish sign for the entire space, as we’re still in the early stages of this bull run where Bitcoin’s strength leads, and altcoins soon follow. Our altcoin favorites, Solana and Sui, have outperformed many others; Solana recently hit $184 (we covered SOL at $137 in our Stormrake Spotlight), and Sui surged by 16% just yesterday. We predict these two will lead the altcoin market over the next 12 months.

    Any pullbacks should be viewed as opportunities to increase BTC holdings or positions in strong altcoins like Sui and Solana.

    With the U.S. election less than a week away, market volatility is expected to rise. This election could be one of the most impactful events in recent history, and with uncertainty around the winning party, volatility is anticipated. While betting markets slightly favor a Trump victory, polls indicate it could go either way. Regardless of the outcome, even if a larger pullback occurs if Harris wins, our long-term conviction in BTC remains firm, with expectations for continued growth in 2025.

    If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: DOGE ($0.17564)

    DOGE has continued to lead the memecoin space, gaining 11% since yesterday’s morning note. It’s likely to maintain strong performance as BTC leads the market.

    BTC/USD Key Levels and Price Action:

    Bitcoin narrowly missed its previous all-time high and is currently pulling back slightly. The 21 EMA and the key support level around $71.8k are likely to provide support and act as a bounce zone. If BTC bounces here, it may reload for another attempt at the ATH of $73,777. No signs of bearishness are present.

    BTC Total ETF Flows for  29 Oct: $ + 227.2 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:

    Ethereum has finally broken above resistance around $2500-$2600 and is trading above, retesting the 21EMA for support. Like BTC, this level could provide a bounce zone during bullish trends, with additional support at $2,556. No bearish threat is indicated.

    ETH Total ETF Flows for 29 Oct: $ - 6 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, 31 Oct 2024 15:13:00 +1100    <![CDATA[Bitcoin Surges Past $70K, All-Time Highs in Sight]]>https://www.stormrake.com/blogs/post/Bitcoin-Surges-Past-70K-ATH-in-Sight
    Bitcoin is continuing its rally after a quick weekend dip, breaking above $70,000 and approaching new all-time highs. The market sentiment is overwhelmingly bullish, and Bitcoin’s upward momentum is clear. With Bitcoin dominance rising and nearing 60%, and consistent higher highs and higher lows, Bitcoin seems well-positioned to reach a new all-time high soon.

    Adding to this optimism, Donald Trump is emerging as the favorite to win the upcoming U.S. presidential election. Betting odds give him a 66% chance of victory (via Polymarket) and Sportsbet offering odds of $1.55. The anticipation of a Trump win is a potential catalyst for Bitcoin's bullishness, and a Trump victory could be the spark needed for Bitcoin to achieve new highs. With the election just a week away, Bitcoin could be poised to break records soon.

    In our Morning Note from October 17, we analysed a bull flag pattern suggesting Bitcoin might reach $88,000 USD in the coming weeks and months. It now appears that this pattern is playing out, so prepare for a potential rise to our short-to-medium-term target over the next few months.

    If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. 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: DOGE ($0.158)

    Continuing with the theme of meme coins, Dogecoin is considered the godfather of the memecoin space. Just as Bitcoin leads the broader crypto market, DOGE leads the meme coin sector. If memecoins are to play a major role in this bull run, DOGE will likely lead the charge, with smaller-cap memecoins such as WIF, GOAT, and PEPE expected to follow. DOGE is currently 80% below its all-time high and has a market cap of $23 billion. Last bull run saw DOGE reach a peak market cap of $97 billion, just something to keep in mind.

    BTC/USD Key Levels and Price Action:

    Bitcoin has broken through the monthly CPR level that posed a challenge in recent weeks and is currently testing the critical resistance at $70.1k after eight consecutive green candles. Some resistance is expected at this level, while the 21 EMA should provide strong support as BTC aims for new all-time highs.

    BTC Total ETF Flows for  28 Oct: $ + 120.1 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:

    Ethereum is finally close to breaking its key resistance levels and is trading above all moving averages. Currently priced above $2,556, ETH is looking bullish as BTC continues higher. The next resistance levels are around $2,850. Although ETH appears promising, it remains 48% below its ATH and is being outperformed by Solana, which may pose a threat to Ethereum's position as the second-largest cryptocurrency.

    ETH Total ETF Flows for 28 Oct: $ - 8.4 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
    ]]>    Tue, 29 Oct 2024 12:32:41 +1100