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Ahead Of The Curve
11 Nov 2024

A raging rally into new all-time highs

A wild week! A relentless post-election surge sends BTC well into all-time highs. Meanwhile, open interest is propelling higher, volume records have been shattered, yields are surging in CME futures and perps and a sizeable CME gap has appeared.
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A raging Bitcoin rally into new all-time highs
Bitcoin soared by 30% in a relentless rally to new all-time highs, appreciating $17,500 to add $413 billion to its market cap. Market excitement was backed up by institutional capital flowing in, as MicroStrategy has bought $2 billion since October 31 and U.S. spot ETFs have bought $3.4 billion since the election. We look to Jerome Powell’s speech and the sentencing of the Bitfinex hackers as potential volatility-inducing events this week.
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