TL;DR

• BTC is up & ETH is up

• ETH over-performed BTC this week 

• Bitcoin dominance is down

• The hot coin we look at this week is $UNI

Latest & Greatest 📰

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BTC & ETH Market Update 📈

Crypto is up this week, with BTC being up 10.3% and ETH up 21.4%:

Bitcoin dominance has decreased over the week, starting from 56.6% to a high of 57.34% and ending at 55.86%. Investor sentiment, regulatory changes, technological advancements, and the overall growth of the cryptocurrency sector shape Bitcoin's market dominance. Its reputation as "digital gold" also enhances its position, making it a key player in the market.

It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.

Bitcoin reached a new high of nearly $77,000 on Nov. 8, boosted by a 0.25% rate cut from the U.S. Federal Reserve.

This move, aimed at balancing inflation and employment, lifted BTC/USD during Wall Street trading, adding to the momentum as analysts forecast further gains.

Optimism surrounding Donald Trump’s upcoming inauguration has led to projections of Bitcoin reaching $100,000 to $200,000, driven by expectations of crypto-friendly policies.

Bitget Research’s Ryan Lee anticipates a $100,000 target soon, citing high futures interest and stablecoin market cap growth as key indicators.

Digital asset firm Copper.co supports this outlook, with ETF accumulation trends reinforcing their $100,000 prediction.

Technical analyst Gert van Lagen suggests Bitcoin’s exit from a “descending broadening wedge” pattern could propel it toward $200,000 by mid-2025.

Yet, analysts warn of potential corrections, noting that Bitcoin must maintain support at $72,600 to sustain positive sentiment as concerns grow around “high leverage liquidity” and the risk of a “long squeeze.”

Ethereum (ETH) is showing strong bullish momentum, trading around $3,045 after a 21% gain following the U.S. presidential election.

This surge, alongside a breakout above a 161-day downtrend on Nov. 6, has renewed interest in the ETH/BTC pair, signaling a potential trend reversal.

Institutional confidence is rising with $132 million flowing into Ethereum ETFs, while 42.6% of ETH is staked, entering "scarcity mode."

Key analysts suggest that a daily close above the 50-day SMA could confirm a sustained rally, with Ethereum potentially reaching $6,000–$6,500 by early 2025.

Ethereum (ETHUSD) Analysis:

Ethereum (ETH) is trading at $3,045 after breaking above a 161-day downtrend, signaling a potential trend reversal. A daily close above the 50-day SMA could confirm a rally, with targets between $6,000–$6,500 by Q1 2025. Key support lies at $2,800.

Bitcoin (BTCUSD) Analysis:

Bitcoin hit a new all-time high near $77,000, with support at $72,600 critical for maintaining bullish momentum. A break below this level could lead to a correction, while holding above it may push Bitcoin toward $90,000 to $100,000 in the near term.

Expected Trading Ranges:

• Ethereum (ETH): Support at $2,800; Resistance at $3,100.

• Bitcoin (BTC): Support at $72,600; Resistance at $77,000.

Market Outlook:

Bitcoin's surge to $77,000 signals strong bullish momentum, with analysts predicting potential highs between $100,000 and $200,000. A crypto-friendly environment under Trump adds optimism, but support at $72,600 is key. A break below this could lead to a correction, though the overall outlook remains positive.

Ethereum’s market outlook is bullish, with a breakout above key resistance and moving averages. A close above the 50-day SMA could push ETH toward $6,000–$6,500 by Q1 2025, with support at $2,800.

BTC/ETH ratio has seen a decrease:

Over the past 6 days, the BTC to ETH rate has experienced a decrease. Starting at 28.58 ETH per BTC on Nov 05, the rate gradually declined to 26.18 ETH per BTC on Nov 08, marking a 2.4% drop. This indicates a downward trend in the value of Ethereum relative to Bitcoin during this period.

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Hot Coin: UNI 🔥

In this week’s newsletter, we dive into UNISWAP Network’s token with the ticker $UNI.

The price action and volume have been growing consistently and don’t seem to stop any time soon:

What is the project about?

Uniswap is a decentralized exchange (DEX) protocol built on Ethereum that leverages an Automated Liquidity Protocol, allowing users to trade ERC-20 tokens directly without relying on an order book or centralized intermediaries.

This unique protocol enables liquidity providers to create pools of tokens, which facilitate seamless token swaps using automated market-making (AMM) algorithms.

By decentralizing liquidity and enabling trustless transactions, Uniswap promotes both censorship-resistance and accessibility for users.

Unlike centralized exchanges, Uniswap allows any ERC-20 token to be listed and traded as long as there’s an available liquidity pool, providing cost-effective exposure for new and emerging projects.

Why is the project exciting now?

There are four main reasons why we feature this project in this week’s newsletter:

• Decentralized, Trustless Trading

• Automated Market Maker (AMM) Model

• Rewards for Liquidity Providers

• Open Token Listing

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