Daily Market Brief

Nov 4, 2024

Daily Market Brief 241104

RM
Rick Maeda
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  • The market continued its decline during weekend trading, with $BTC currently trading at $68,770 (-0.8%), while $ETH is at $2,458 (-1.4%).

  • ETH/BTC ratio continues to deteriorate, touching a weekend low of 0.03557 - its lowest level since April 2021.

  • Forward volatility has spiked significantly, with BTC volatility at 80.30% (up from 72.20%) and ETH at 82.92% (up from 75.40%), as traders brace for election-related market swings.

  • Other headlines include: UBS launching its first tokenised fund on Ethereum blockchain, UAE's M2 crypto exchange suffering a $13.7M hack, and World Liberty limiting its US token sales to $30 million.

  • Over the past 24 hours, the top three gainers were $GOAT, $FWOG, and $BABYDOGE, while the top three losers were $SATS, $VIRTUAL, and $RUNE.

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RM
Rick MaedaResearch Analyst