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Bitcoin and Crypto Rally Just Beginning: Prioritize Key Winners for Optimal Gains

Not everything has rallied, nor will it. While speculation is intensifying, only a select few coins and tokens are likely to outperform.

Author

Markus Thielen
November 08, 2024

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Bitcoin and Crypto Rally Just Beginning: Prioritize Key Winners for Optimal Gains

👇1-13) This week underscored the importance of staying attuned to data, narratives, fundamentals, flows, and technicals, as crypto markets can shift rapidly. Some of our favored altcoins have performed exceptionally well: Solana proxies JTO-USDT (+24% over the past 7 days) and JUP-USDT (+16%) kept pace with SOL-USDT. While we hadn’t anticipated a 17% rally in Ethereum, our proxy ENA-USDT outperformed significantly with a 37% gain.

👇2-13) This week was a strong indicator of where investors should focus going forward; any coin or token that failed to rally at least 10% over the last week should likely be avoided despite our bullish outlook. This rally highlights the need to pick winners selectively rather than adopting a broad approach. For example, in one of our recent ‘crypto fundamentals’ reports, we paired a long position on JTP (+24% in the last 7 days) against a short on TON, which only gained 1.6% - with the JTP-TON spread trade up +22%.

Ethereum (LHS) vs. weekly stochastics indicator (RHS) - bottoming out

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