{"id":13156,"date":"2024-11-08T04:37:30","date_gmt":"2024-11-08T04:37:30","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=13156"},"modified":"2024-11-08T04:37:30","modified_gmt":"2024-11-08T04:37:30","slug":"crypto-markets-surged-this-week-whats-next","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/crypto-markets-surged-this-week-whats-next\/","title":{"rendered":"Crypto markets surged this week; what\u2019s next?"},"content":{"rendered":"<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">This week, cryptocurrencies soared following Donald Trump\u2019s not-so-unexpected victory in the presidential election and the Federal Reserve&#8217;s 25 basis point rate cut.\u00a0<\/span><\/p>\n<p><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><span style=\"font-weight: 400;\">Bitcoin hit an <\/span><b>all-time high<\/b><span style=\"font-weight: 400;\"> of $76,618, while Ethereum rallied from below the $2,400 mark to almost $3,000 at the time of writing.\u00a0<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-family: inter; font-size: 18pt;\"><b>DeFi tokens went up by 20-30%<\/b><\/span><\/h2>\n<p><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"font-weight: 400;\"><span style=\"color: #000000;\">Traders were particularly bullish on<\/span> <\/span><a href=\"https:\/\/www.btse.com\/en\/markets\"><span style=\"font-weight: 400;\">DeFi tokens<\/span><\/a><span style=\"font-weight: 400;\"><span style=\"color: #000000;\"> as they predicted the end of the SEC\u2019s anti-DeFi crusade &#8211; Donald Trump intends to<\/span> <\/span><a href=\"https:\/\/www.coindesk.com\/policy\/2024\/11\/07\/heres-how-quickly-gary-gensler-could-lose-his-sec-chair-gig-under-trump\/\"><span style=\"font-weight: 400;\">remove<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> Gary Gensler as SEC Chairman and adopt a more pro-crypto stance.\u00a0<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">Over the last couple of months, Uniswap, Immutable, Crypto.com had all received Wells notices from the SEC, indicating that the agency was preparing to bring charges against them.<\/span><\/p>\n<p><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"font-weight: 400; color: #000000;\">Going forward, however, many analysts expect the SEC to drop those charges. <\/span><a href=\"https:\/\/www.btse.com\/en\/trading\/UNI-USDT\"><span style=\"font-weight: 400;\">$UNI<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.btse.com\/en\/trading\/IMX-USDT\"><span style=\"font-weight: 400;\">$IMX<\/span><\/a><span style=\"font-weight: 400; color: #000000;\">, and $CRO tokens all jumped by 20-30% this week, as did major DeFi tokens such as <\/span><a href=\"https:\/\/www.btse.com\/en\/trading\/ENA-USDT\"><span style=\"font-weight: 400;\">$ENA<\/span><\/a><span style=\"font-weight: 400; color: #000000;\">, <\/span><a href=\"https:\/\/www.btse.com\/en\/trading\/LDO-USDT\"><span style=\"font-weight: 400;\">$LDO<\/span><\/a><span style=\"font-weight: 400; color: #000000;\">, and <\/span><a href=\"https:\/\/www.btse.com\/en\/trading\/AAVE-USDT\"><span style=\"font-weight: 400;\">$AAVE<\/span><\/a><span style=\"font-weight: 400;\">. <span style=\"color: #000000;\">Aave TVL has<\/span> <\/span><a href=\"https:\/\/defillama.com\/protocol\/aave#information\"><span style=\"font-weight: 400;\">increased by 22%<\/span><\/a><span style=\"font-weight: 400; color: #000000;\"> over the last month to surpass $15 billion.<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">Given that interest rates will continue to decrease across the board, it\u2019s even more likely that investors will flock to DeFi staking opportunities to seek yield.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-family: inter; font-size: 18pt;\"><b>Don\u2019t sell yet &#8211; there\u2019s more to come<\/b><\/span><b><\/b><\/h2>\n<ul>\n<li aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"color: #000000;\"><b>Solana (<\/b><\/span><a href=\"https:\/\/www.btse.com\/en\/trading\/SOL-USDT\"><b>$SOL<\/b><\/a><span style=\"color: #000000;\"><b>): <\/b><span style=\"font-weight: 400;\">Recently, Solana has soared because of its reputation as the go-to platform for memecoins to build on. But with Trump\u2019s re-election, its prospects of having Solana ETFs approved just went up, which is likely to fuel institutional inflows and a further run-up in $SOL\u2019s token price.\u00a0<\/span><\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><b>Remaining S&amp;P 500 earnings:<\/b><span style=\"font-weight: 400;\"> There are still two weeks to go for the remaining companies to report earnings, which, if positive, could continue to bolster markets. Also expect pro-crypto regulations to boost crypto mining stocks in the mid-long term.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><b>China stimulus: <\/b><span style=\"font-weight: 400;\">Expected to continue into 2025 and fuel crypto inflows.<\/span><\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">There still remains a degree of uncertainty as we head into the last months of 2024. Inflation could rear its ugly head again, and potential Trump tariffs could put a damper on the economy and US-China relations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">Continued conflict in the Gaza strip, Lebanon, and potentially Iran may upset markets, but on the bright side, a new Trump administration is likely to push for a resolution in the Middle East, as well as in Ukraine.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">Stay tuned!<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: inter; font-size: 14pt;\"><span style=\"color: #000000;\">For other market insights, visit this<\/span>\u00a0<a href=\"https:\/\/www.btse.com\/blog\/category\/market-insights\/\">link<\/a><span style=\"color: #000000;\">.<\/span>\u00a0<\/span><\/p>\n<hr \/>\n<p><i>Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0<\/i><a href=\"mailto:support@btse.com\"><i>support@btse.com<\/i><\/a><i>\u00a0or on X\u00a0<\/i><a href=\"https:\/\/x.com\/BTSE_Official\"><i>@BTSE_Official<\/i><\/a><i>.<\/i><\/p>\n<p><i>Disclaimer: BTSE blog content is intended solely to provide varying insights and perspectives.\u00a0 It does not constitute financial, legal, or investment advice and should not be relied upon as such. The views expressed are not necessarily those of BTSE. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Trading involves substantial risk due to market volatility, and past performance is not indicative of future results. Always trade with caution and consider seeking advice from a qualified professional before making any financial decisions.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, cryptocurrencies soared following Donald Trump\u2019s not-so-unexpected victory in the presidential election and the Federal Reserve&#8217;s 25 basis point rate cut.\u00a0 Bitcoin hit an all-time high of $76,618, while Ethereum rallied from below the $2,400 mark to almost $3,000 at the time of writing.\u00a0 &nbsp; DeFi tokens went up by 20-30% Traders were particularly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-13156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Crypto markets surged this week; what\u2019s next? &#8212; BTSE Blog<\/title>\n<meta name=\"description\" content=\"An exciting week for crypto, as prices have surged following Donald Trump&#039;s victory in the US elections. 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