News 
Coin Information 
About us 
Bitcoin (BTCUSD) reached an all-time high of $76,480 following Donald Trump's election victory but is currently trading around $74,864.
2. Optimism in Cryptocurrency Under Trump
This win has generated optimism in the cryptocurrency sector, as many believe that digital assets will prosper under his leadership. Trump, who has shifted from being critical of cryptocurrencies to supporting them, aims to make the U.S. "the crypto capital of the planet" and has proposed the idea of a federal Bitcoin reserve. Analysts expect his administration to ease regulatory pressures, potentially leading to changes at the Securities and Exchange Commission (SEC), where current chair Gary Gensler is viewed unfavorably by the crypto community due to his strict regulations.
3. Whale Activity Indicates Confidence in Bitcoin
Additionally, since November 1, five major whale addresses have collectively purchased 2,780 BTC, valued at approximately $192.4 million, indicating strong belief in Bitcoin's future. On November 6, these whales withdrew over 1,806 BTC (around $132 million) from Binance, reflecting confidence in Bitcoin, especially after Trump’s victory.
4. Long-Term Whale Accumulation
One long-term whale has accumulated 11,658 BTC since March 14, 2024, investing about $780.5 million at an average price of $66,953 per coin, leading to around $42.3 million in unrealized profits.
5. Significant Inflows into Bitcoin ETFs
Furthermore, Bitcoin exchange-traded funds (ETFs) experienced significant inflows on November 6, totaling about $621.9 million, with Fidelity’s spot Bitcoin ETF (FBTC) leading the way, attracting $308.77 million. Other notable contributors included ARK 21Shares’s ARKB, Grayscale Bitcoin Mini Trust, and Bitwise’s BITB.
Bull case-
Primary supply zone -$77000. Any break above confirms an intraday bullishness. A jump to $80000 is possible.
Secondary barrier- $80000. A close above that barrier targets $81980/$85000/$90000.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index - Bullish
It is good to buy on dips around $73000 with SL around $66700 for TP of $90000.
Comment 0