Start the Week with Christmas Market Deals

The crypto market continues to reel from the aftermath of Powell’s bearish speech, serving as the main catalyst for this extended correction. Over the weekend, price action remained grim, with "blood in the streets" persisting. The much-anticipated 'Santa Claus' rally failed to materialise this year, leaving Bitcoin entrenched in a bearish trend while altcoins bear the brunt of the downturn.

While this may not have been the bullish Christmas run we’d hoped for, the opportunities arising from this correction could be even more rewarding in the long term. Bitcoin is currently trading around $95,000—down 12% from its all-time high—while many altcoins are experiencing significantly steeper declines.

Now is not the time to hesitate when it comes to buying at a discount. The strategy is simple: capitalise on these pullbacks. Accumulate Bitcoin and quality altcoins trading well below their recent highs, and hold. We are still in the early stages of the bull market, where corrections like these are par for the course. Historically, those who take advantage of such opportunities tend to see the greatest returns. Some of our favorite altcoins, such as Ondo and Fantom, are down 24% and 35% from their recent highs, respectively, while Sui has also seen a slight decline. This correction presents an excellent opportunity to accumulate these altcoins at a discount.

Despite the short-term uncertainty, Bitcoin’s long-term bullish trajectory remains intact. Use these dips to strengthen your Bitcoin holdings and seize the chance to acquire undervalued altcoins. For tailored strategies and support, reach out to your Stormrake broker to make the most of these market conditions.

Thank You for an Incredible Year!

As the year comes to a close, we want to express our gratitude for being a valued part of our community. Your trust and support have made 2024 an amazing year, and we’re excited to help you achieve even greater milestones in the year ahead.

As a token of our thanks, we’re giving you a special end-of-year bonus:

For every AUD$10,000 worth of Bitcoin you purchase with Stormrake, we’ll gift you AUD$20 worth of Bitcoin.

It’s our way of saying thanks for choosing us as your trusted partner in crypto.

This exclusive offer is available until December 31, 2024, so don’t miss out!

*Terms & Conditions Apply*

Stormrake Spotlight: Solana (SOL) ($181)

Solana continues to experience significant price declines, currently trading 30% below its all-time high. This correction presents an attractive entry point for investors, as SOL remains one of the premier cryptocurrencies in the space. To reclaim its all-time high, SOL would need to rise by 45%. Looking ahead, Solana is well-positioned to surpass its previous highs by 2025. This pullback offers a compelling opportunity for long-term holders to accumulate.

BTC/USD Key Levels and Price Action:

Bitcoin remains locked in a bearish structure, failing to break above the 55 EMA at $99,500. Since then, BTC has slipped below all major moving averages and the critical support level of $95,700. The current low stands at $92,200, and with the bearish trend persisting, another retest of this low seems likely.

BTC Total ETF Flows for 22 Dec: $ N/A million

ETH/USD Key Levels and Price Action:

Ethereum mirrors Bitcoin’s bearish structure, marked by lower highs and lower lows, trading beneath all major moving averages. ETH faced rejection at the 55 EMA and the key resistance level of $3,557, subsequently falling below the support at $3,370. A retest of its recent low of $3,100 appears imminent.

ETH Total ETF Flows for 22 Dec: $ N/A Million

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.

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