Today’s Market Rundown: Major Events & Price Levels to Watch This Week. News of November 12, 2024
Bitcoin nearly hit $90,000 before a swift correction back to $85,000, sparking market euphoria. Key support around $74,000 might be tested soon. Big updates from $BTC, $INST, $JOE, $CARV, $KMNO, $POL, and $APT are on the horizon.
Bitcoin almost hit $90,000 before a sharp leverage flush took it down to around $85,000. The market is in an absolute euphoric state, so brace for volatility. Bitcoin’s run isn’t likely over yet, as we’re still early in the cycle.
However, keep an eye on that previous all-time high around $74,000—chances are strong it’ll get tested as support at some point.
Meanwhile, ETH is trading around $3,260.
Today's Bitcoin Liquidity Heatmap
There are two important zones:
Support: $85,000, $83,650
Resistance: $89,000, $90,000
Tip: Retail traders are looking for a correction, whereas larger funds are already accumulating bitcoin. Traders should brace for volatility on both sides and play around the support&resistance levels.
Important Dates to Watch:
$BTC: US CPI data will be released on Nov. 13
$INST: Instadapp will release a major tokenomics update next week
$JOE: LFJ (formerly Trader Joe) is launching Token Mill, a bonding curve AMM, on Solana next week
$CARV: CARV Node Sales Mechanism Upgrade will take place tomorrow + CARV token utility will be enhanced soon
$KMNO: Kamino Finance is set to make a major announcement next week
$POL: Polygon's AggSummit conference starts today, where the team may reveal important updates
$APT: $126M worth of APT will be unlocked on Nov. 11
Hot coins: LUCE, GOAT, AI16Z, USA, ACT, EARL, EPIKMost coins are showing an impressive rally and traders are excited to see it continue. The best strategies might be using DCA and COMBO bots to accumulate more coins and sell on the peak.
Stay focused in the market—stay with the Bitsgap platform!
