πŸ“ƒ Apr 05, 2024 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Trending Up

The cryptocurrency market is showing signs of a positive trend in the next 8 hours. Based on the analysis of various indicators and datasets, there is evidence to support a potential upwards movement in prices and market sentiment. However, it is important to consider the volatility and inherent risks associated with cryptocurrency investments. Confidence in this analysis is moderate, considering the current market conditions and recent trends. It is advised to stay updated with the latest market news and developments for informed decision-making.

What is important

In the current state of the cryptocurrency market, several factors are important to consider. Price movements, market capitalization, trading volumes, and the activities of major exchanges and mining operations play significant roles in shaping the market. Additionally, economic events, both within and outside the cryptocurrency space, can impact investor sentiment and market trends.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Ripple Plans to Launch USD-Pegged Stablecoin, Expanding Token to XRP and Ethereum Ecosystems– Ripple plans to launch a USD-pegged stablecoin, expanding token to XRP and Ethereum ecosystems.
  2. Crypto Prices Today April 4: Bitcoin Drops To $65K, Ethereum At $3200, SOL & XRP Dip– Bitcoin drops to $65K, Ethereum at $3,200, Sol and XRP dip.
  3. Breaking: Ripple Announces a Multichain Fiat-backed Stablecoin to Improve XRPΒ΄s Liquidity– Ripple announces a multichain fiat-backed stablecoin to improve XRPΒ΄s liquidity.
  4. Ripple Stablecoin News Drives XRP Volume 32% as Price Reacts– The news about RippleΒ΄s stablecoin drives a significant increase in XRP volume and price.
  5. Crypto Market Prediction: Cardano (ADA), XRP, and Solana (SOL) to Hit $1 Trillion Market Cap?– The article predicts that Cardano (ADA), XRP, and Solana (SOL) will reach a market cap of $1 trillion.

Factors DrivingΒ the Growth – Market Sentiment

The analysis of positive and negative keywords provides insights into the prevailing sentiment in the news related to the cryptocurrency market. Positive keywords such as ‘Ripple Plans to Launch USD-Pegged Stablecoin’ and ‘Ripple Announces a Multichain Fiat-backed Stablecoin’ indicate optimism and developments within the Ripple ecosystem. On the other hand, negative keywords like ‘Google Sues Chinese Nationals for Running Crypto Scam Using Google Play App Store’ highlight concerns around scams and regulatory challenges. It is crucial to monitor both positive and negative news to gain a comprehensive understanding of the market dynamics.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
31bitcoin
27binance
17cryptocurrency market
16ripple
15cryptocurrency exchange
13cryptocurrency
13stablecoin
11ethereum
9bitcoin cash
9solana

Negative Terms – Sentiment Analysis

OccurrencesKeyword
18google
17bitcoin
9onecoin
7crypto scammers
6binance
6goldman sachs
6lawsuit
6ripple
5price
5sec

Crypto Investor Fear & Greed Index

The ‘Fear and Greed Indicators’ table provides an assessment of market sentiment ranging from extreme fear to extreme greed. The data presented suggests a mixed sentiment in the cryptocurrency market, with values varying across different sources. Although fear and greed may indicate potential sentiment shifts, it is important to consider other factors such as market fundamentals and external influences when making investment decisions.

DateValueVariationSource
2024-04-05 00:00:0070pt0ptAlternative.me
2024-04-05 00:00:0079pt9ptAlternative.me
2024-04-04 00:00:0070pt-1ptAlternative.me
2024-04-03 00:00:0071pt-8ptAlternative.me
2024-04-03 00:00:0079pt0ptAlternative.me
2024-04-05 00:00:0070pt-1ptBitDegree.org
2024-04-04 00:00:0071pt-8ptBitDegree.org
2024-04-03 00:00:0079pt0ptBitDegree.org
2024-04-05 00:00:0061pt-3ptBtcTools.io
2024-04-04 16:00:0064pt4ptBtcTools.io
2024-04-04 08:00:0060pt-1ptBtcTools.io
2024-04-04 00:00:0061pt0ptBtcTools.io
2024-04-03 16:00:0061pt1ptBtcTools.io
2024-04-03 00:00:0060pt-1ptBtcTools.io
2024-04-02 16:00:0061pt0ptBtcTools.io
2024-04-05 00:00:0070pt0ptCoinstats.app
2024-04-05 00:00:0079pt9ptCoinstats.app
2024-04-04 00:00:0070pt-1ptCoinstats.app
2024-04-03 00:00:0071pt0ptCoinstats.app
2024-04-05 00:00:0070pt0ptLookIntoBitcoin.com
2024-04-05 00:00:0079pt9ptLookIntoBitcoin.com
2024-04-04 00:00:0070pt-1ptLookIntoBitcoin.com
2024-04-04 00:00:0071pt0ptLookIntoBitcoin.com
2024-04-03 00:00:0071pt-8ptLookIntoBitcoin.com
2024-04-03 00:00:0079pt0ptLookIntoBitcoin.com

Bitcoin: Active Addresses

The ‘Bitcoin Address Indicators’ table showcases the status of active Bitcoin addresses and wallet balances. The data reveals variations in the number of addresses and wallet balances over the analyzed period. These indicators can provide insights into user activity and the overall adoption and use of Bitcoin. It is essential to assess these metrics in conjunction with other market factors for a comprehensive analysis of the Bitcoin ecosystem.

DateAddressesVariationIndicatorSource
2024-04-05 00:00:001,250,107,8650.00%Total Addressesbitaps.com
2024-04-05 00:00:001,198,736,8930.00%Zero Balance Addressesbitaps.com
2024-04-05 00:00:00971,8001.76%Bitcoin Active Addressesbtc.com
2024-04-05 00:00:00540,5830.00%Addresses with over 0bitaps.com
2024-04-05 00:00:00219,3660.00%Addresses with over 0.0000001bitaps.com
2024-04-05 00:00:002,893,8170.00%Addresses with over 0.000001bitaps.com
2024-04-05 00:00:009,715,7010.00%Addresses with over 0.00001bitaps.com
2024-04-05 00:00:0013,299,8370.00%Addresses with over 0.0001bitaps.com
2024-04-05 00:00:0012,072,4650.00%Addresses with over 0.001bitaps.com
2024-04-05 00:00:008,057,1270.00%Addresses with over 0.01bitaps.com
2024-04-05 00:00:003,552,0360.00%Addresses with over 0.1bitaps.com
2024-04-05 00:00:00865,2290.00%Addresses with over 1bitaps.com
2024-04-05 00:00:00138,9090.00%Addresses with over 10bitaps.com
2024-04-05 00:00:0013,8820.00%Addresses with over 100bitaps.com
2024-04-05 00:00:001,9090.00%Addresses with over 1,000bitaps.com
2024-04-05 00:00:001070.00%Addresses with over 10,000bitaps.com
2024-04-05 00:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table highlights important events in the global financial market that can impact the cryptocurrency space. These events can range from employment reports and interest rate decisions to GDP growth and consumer sentiment. Tracking these economic events helps to understand their potential influence on cryptocurrency prices and market dynamics.

DateImpactEvent
2024-04-05 19:30:00ModerateEUR – CFTC EUR speculative net positions
2024-04-05 19:30:00ModerateJPY – CFTC JPY speculative net positions
2024-04-05 19:30:00ModerateBRL – CFTC BRL speculative net positions
2024-04-05 19:30:00ModerateAUD – CFTC AUD speculative net positions
2024-04-05 19:30:00ModerateUSD – CFTC S&P 500 speculative net positions
2024-04-05 19:30:00ModerateUSD – CFTC Nasdaq 100 speculative net positions
2024-04-05 19:30:00ModerateUSD – CFTC Gold speculative net positions
2024-04-05 19:30:00ModerateUSD – CFTC Crude Oil speculative net positions
2024-04-05 19:30:00ModerateGBP – CFTC GBP speculative net positions
2024-04-05 19:00:00ModerateUSD – Consumer Credit (Feb)
2024-04-05 17:00:00ModerateUSD – U.S. Baker Hughes Total Rig Count
2024-04-05 17:00:00ModerateUSD – U.S. Baker Hughes Oil Rig Count
2024-04-05 16:15:00ModerateUSD – FOMC Member Bowman Speaks
2024-04-05 16:00:00ModerateRUB – GDP Quarterly (YoY) (Q4)
2024-04-05 14:00:00ModerateCAD – Ivey PMI (Mar)
2024-04-05 12:30:00ModerateCAD – Employment Change (Mar)
2024-04-05 12:30:00HighUSD – Unemployment Rate (Mar)
2024-04-05 12:30:00ModerateUSD – U6 Unemployment Rate (Mar)
2024-04-05 12:30:00ModerateUSD – Private Nonfarm Payrolls (Mar)
2024-04-05 12:30:00ModerateUSD – Participation Rate (Mar)
2024-04-05 12:30:00HighUSD – Nonfarm Payrolls (Mar)
2024-04-05 12:30:00ModerateUSD – Average Hourly Earnings (YoY) (YoY) (Mar)
2024-04-05 12:30:00HighUSD – Average Hourly Earnings (MoM) (Mar)
2024-04-05 12:30:00HighEmployment Situation Unemployment Rate
2024-04-05 12:30:00HighEmployment Situation Average Hourly Earnings – M/M
2024-04-05 12:30:00HighEmployment Situation Participation Rate
2024-04-05 12:30:00HighEmployment Situation Nonfarm Payrolls – M/M
2024-04-05 12:30:00HighEmployment Situation Private Payrolls – M/M
2024-04-05 12:30:00HighEmployment Situation Average Workweek
2024-04-05 12:30:00HighEmployment Situation Average Hourly Earnings – Y/Y
2024-04-05 12:30:00HighEmployment Situation Manufacturing Payrolls – M/M
2024-04-05 11:30:00ModerateBRL – Gross Debt-to-GDP ratio (MoM) (Feb)
2024-04-05 08:30:00ModerateGBP – S&P Global / CIPS UK Construction PMI (Mar)
2024-04-05 07:00:00ModerateCHF – SECO Consumer Climate
2024-04-05 06:00:00ModerateEUR – German Factory Orders (MoM) (Feb)
2024-04-05 06:00:00ModerateGBP – Halifax House Price Index (MoM) (Mar)
2024-04-05 06:00:00ModerateGBP – Halifax House Price Index (YoY) (Mar)
2024-04-05 04:30:00ModerateINR – Interest Rate Decision
2024-04-05 00:30:00ModerateAUD – Trade Balance
2024-04-05 00:30:00ModerateAUD – Retail Sales (MoM)
2024-04-04 23:30:00ModerateJPY – Household Spending (MoM) (Feb)
2024-04-04 23:30:00ModerateJPY – Household Spending (YoY) (Feb)
2024-04-04 20:30:00ModerateUSD – FedΒ΄s Balance Sheet
2024-04-04 18:00:00ModerateUSD – FOMC Member Mester Speaks
2024-04-04 16:30:00ModerateUSD – Atlanta Fed GDPNow (Q1)
2024-04-04 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-04-04 12:30:00ModerateUSD – Trade Balance (Feb)
2024-04-04 12:30:00HighUSD – Initial Jobless Claims
2024-04-04 12:30:00ModerateUSD – Imports
2024-04-04 12:30:00ModerateUSD – Exports
2024-04-04 12:30:00ModerateUSD – Continuing Jobless Claims
2024-04-04 12:30:00HighJobless Claims 4-Week Moving Average
2024-04-04 12:30:00HighJobless Claims Initial Claims – Level
2024-04-04 12:30:00HighJobless Claims Initial Claims – Change
2024-04-04 12:30:00HighInternational Trade in Goods and Services Balance
2024-04-04 11:30:00ModerateEUR – ECB Publishes Account of Monetary Policy Meeting
2024-04-04 09:40:00ModerateEUR – Spanish 15-Year Obligacion Auction
2024-04-04 09:35:00ModerateEUR – Spanish 15-Year Obligacion Auction
2024-04-04 08:30:00ModerateGBP – S&P Global/CIPS UK Services PMI (Mar)
2024-04-04 08:30:00ModerateGBP – S&P Global/CIPS UK Composite PMI (Mar)
2024-04-04 08:00:00ModerateEUR – HCOB Eurozone Services PMI (Mar)
2024-04-04 08:00:00ModerateEUR – HCOB Eurozone Composite PMI (Mar)
2024-04-04 07:55:00ModerateEUR – HCOB Germany Services PMI (Mar)
2024-04-04 07:50:00ModerateEUR – HCOB France Services PMI (Mar)
2024-04-04 07:45:00ModerateEUR – HCOB Italy Services PMI (Mar)
2024-04-04 07:15:00ModerateEUR – HCOB Spain Services PMI (Mar)
2024-04-04 06:30:00ModerateCHF – CPI (MoM) (Mar)
2024-04-04 03:35:00ModerateAUD – Retail Sales (MoM)
2024-04-04 00:30:00ModerateAUD – Retail Sales (MoM)
2024-04-04 00:30:00ModerateAUD – Building Approvals (MoM) (Feb)

Crypto Assets Prices

The ‘Prices’ table presents the price variations and volatility of major cryptocurrencies over a specified period. Analyzing the price movements and volatility provides insights into market trends and investor sentiment. It is important to note that cryptocurrency prices are influenced by various factors, including market demand, speculative trading, regulatory developments, and macroeconomic conditions.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-04-04 00:16:00Bitcoin66,203.991.30%1.257.03%2.79-5.04%
2024-04-03 00:16:00Bitcoin65,342.20-6.43%-5.78-3.52%7.823.26%
2024-04-04 00:16:00Ethereum3,324.011.46%1.407.47%3.42-5.64%
2024-04-03 00:16:00Ethereum3,275.46-6.87%-6.07-2.62%9.062.81%
2024-04-04 00:16:00Binance Coin565.302.79%3.047.18%4.45-1.39%
2024-04-03 00:16:00Binance Coin549.50-5.02%-4.130.57%5.84-0.77%

CryptocurrencyΒ Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table showcases the total market capitalization and trading volumes of major cryptocurrencies. Examining these figures helps to understand the overall size and liquidity of the cryptocurrency market. Factors such as market capitalization and trading volumes can indicate the level of investor interest and participation in the market.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-04-05 00:00:00Binance Coin90,093,875,5283.84%2,277,223,82216.28%
2024-04-04 00:00:00Binance Coin86,761,624,0202.47%1,958,455,503-8.83%
2024-04-03 00:00:00Binance Coin84,673,062,504-4.93%2,148,106,01217.85%
2024-04-05 00:00:00Bitcoin1,348,455,954,4433.59%37,457,269,5385.34%
2024-04-04 00:00:00Bitcoin1,301,670,235,6241.03%35,559,564,968-31.85%
2024-04-03 00:00:00Bitcoin1,288,360,536,577-6.22%52,176,773,73435.40%
2024-04-05 00:00:00Ethereum400,119,992,0870.43%14,968,843,044-10.47%
2024-04-04 00:00:00Ethereum398,415,781,5711.18%16,719,059,422-30.21%
2024-04-03 00:00:00Ethereum393,781,420,277-6.66%23,955,185,97737.18%
2024-04-05 00:00:00Tether106,254,902,2330.88%60,863,167,005-5.61%
2024-04-04 00:00:00Tether105,331,957,1070.64%64,481,069,878-17.99%
2024-04-03 00:00:00Tether104,665,901,7740.19%78,621,154,54322.17%

Cryptocurrency Exchanges Volume and Variation

The ‘Exchanges’ table highlights the trading volumes and variations observed on major cryptocurrency exchanges. Monitoring the activities and trends on these exchanges provides insights into investor behavior and the overall market sentiment. It is important to consider the liquidity and credibility of exchanges when analyzing trading volumes.

DateExchangeVolumeVariation
2024-04-05 00:00:00Binance368,135-13.85%
2024-04-04 00:00:00Binance427,313-21.62%
2024-04-03 00:00:00Binance545,17237.10%
2024-04-05 00:00:00Binance US254-12.11%
2024-04-04 00:00:00Binance US289-39.29%
2024-04-03 00:00:00Binance US4768.68%
2024-04-05 00:00:00Bitfinex4,96847.37%
2024-04-04 00:00:00Bitfinex3,371-51.33%
2024-04-03 00:00:00Bitfinex6,92636.69%
2024-04-05 00:00:00Bybit60,057-11.77%
2024-04-04 00:00:00Bybit68,069-30.35%
2024-04-03 00:00:00Bybit97,72730.90%
2024-04-05 00:00:00Coinbase50,0820.34%
2024-04-04 00:00:00Coinbase49,912-30.72%
2024-04-03 00:00:00Coinbase72,04438.45%
2024-04-05 00:00:00Crypto.com20,234-8.32%
2024-04-04 00:00:00Crypto.com22,070-19.60%
2024-04-03 00:00:00Crypto.com27,44960.54%
2024-04-05 00:00:00Gate.io46,515-17.70%
2024-04-04 00:00:00Gate.io56,521-22.62%
2024-04-03 00:00:00Gate.io73,04732.97%
2024-04-05 00:00:00Kraken19,1933.47%
2024-04-04 00:00:00Kraken18,549-23.93%
2024-04-03 00:00:00Kraken24,38462.55%
2024-04-05 00:00:00KuCoin15,884-10.23%
2024-04-04 00:00:00KuCoin17,695-28.61%
2024-04-03 00:00:00KuCoin24,78556.55%
2024-04-05 00:00:00OKX53,893-4.70%
2024-04-04 00:00:00OKX56,550-32.76%
2024-04-03 00:00:00OKX84,10119.38%

Mining – Blockchain Technology

The ‘Mining’ table displays key metrics related to cryptocurrency mining, including mining difficulty, blocks, block rewards, and hash rate. These metrics reflect the computational power and operational aspects of mining activities. Understanding mining trends and metrics can provide insights into the overall health of a cryptocurrency network and its security.

Item2024-04-052024-04-042024-04-032024-04-022024-04-012024-03-312024-03-30
Difficulty83.13T83.13T83.13T83.13T83.13T83.13T83.13T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks837.74K837.60K837.46K837.31K837.17K837.03K836.87K
Blocks Variation0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Reward BTC6.256.256.256.256.256.256.25
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB570.25B586.78B611.58B615.71B570.25B640.50B595.05B
Hash Rate GB Variation-2.82%-4.05%-0.67%7.97%-10.97%7.64%-4.64%

Conclusion

In conclusion, the analysis indicates a trending up market sentiment in the cryptocurrency space for the next 8 hours. Positive developments such as the announcement of stablecoin launches and potential market opportunities identified in trend analysis contribute to the positive sentiment. However, it is crucial to consider the inherent volatility and risks associated with cryptocurrency investments. Staying informed about important news, market trends, and other relevant factors is essential for making informed investment decisions.

So What

The current state of the cryptocurrency market has practical implications for investors and enthusiasts. With the positive trend identified, it may present potential opportunities for those looking to engage in cryptocurrency investments. However, it is important to approach investments with caution and conduct thorough research before making any decisions. It is also crucial to stay updated with the latest market news and regulatory developments to navigate the cryptocurrency landscape effectively.

What next?

Looking towards the near future, the cryptocurrency market is expected to remain dynamic and subject to various factors. Market trends, technological advancements, regulatory developments, and macroeconomic conditions will continue to shape the cryptocurrency landscape. It is prudent for investors to carefully monitor these factors and adapt their strategies accordingly. By staying informed and assessing market conditions, investors can position themselves to capitalize on potential opportunities while managing risks.

Disclaimer – Informational Content, Not Investment Advice

Content provided herein is solely for informational purposes and should not be construed as a recommendation, endorsement, or suggestion to engage in any form of investment activity. The information presented in this post is not intended to serve as financial, legal, tax, or investment advice.

About the Author: CryptoTrends Team

With over five years of diving deep into cryptocurrencies and blockchain, we’ve cemented our position as experts in the digital currency realm. Our team has not only contributed to a multitude of pioneering blockchain projects but has also enlightened thousands with our incisive articles CryptoTrends. Always at the cutting edge of crypto trends, we proudly collaborate with CryptoBotStation, ensuring our readers stay one step ahead in this dynamic space.

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