MARKET UPDATE 24.NOV.2024

Hello, and welcome to this week’s market update from Algo-Fund.com. It’s midweek, and we’re seeing mixed signals across the board. 

Let’s dive into the latest market trends and what they mean for investors like you.The U.S. dollar index, or DXY, continues to dominate market sentiment. While it hasn’t moved significantly higher, it remains strong, hovering around the key 107–107.20 level. This strength is holding back movements in altcoins and meme coins. However, with signs of negative divergence, a reversal may just be a matter of time.Bitcoin remains the highlight this week, reaching new highs. But its impact hasn’t fully translated to altcoins or miners yet. 

Technically, we may see Bitcoin push higher into a third wave before entering a consolidation phase. Short-term corrections are possible, but the long-term outlook remains bullish as we approach December.

On the yields front, the two-year rate has yet to break down decisively. A significant rollover here could signal a shift in risk sentiment, paving the way for Bitcoin and altcoins to thrive.Altcoins, on the other hand, are still waiting for the green light. The strong dollar is holding them back, but once the DXY weakens, we could see an exciting phase for smaller-cap cryptocurrencies and meme coins.

Thank you for tuning in to this market update from Algo-Fund.com. Keep an eye on the dollar and yields, as these will be key drivers in the coming days. Stay informed and stay ahead. See you in the next update!