πŸ“ƒ Apr 24, 2024 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

The cryptocurrency market is currently showing a neutral to trending up trend based on the analysis of the available data. The evidence for this analysis is supported by the positive performance of Bitcoin, which has extended its increase and is reaching new highs. Additionally, Standard Chartered’s reaffirmation of a $150,000 Bitcoin price target by year-end adds to the positive sentiment. There is also a positive outlook for Ethereum and Binance Coin, as they continue to demonstrate growth and gain support on major exchanges.

Considering the volatile nature of the cryptocurrency market, there is a moderate level of confidence in this analysis for the next 8 hours. It is important to note that market conditions can change rapidly, and investors should closely monitor any developments that could impact the trend.

What is important

The current state of the cryptocurrency market is characterized by positive price movements and bullish sentiments for major cryptocurrencies like Bitcoin, Ethereum, and Binance Coin. Standard Chartered’s recent price target reaffirmation signals strong confidence in Bitcoin’s continued upward trajectory. Additionally, the positive performance of Ethereum and the growing support for Binance Coin on major exchanges contribute to the overall positive sentiment. However, it is important to closely monitor market conditions and news events that could impact the cryptocurrency market.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Bitcoin Price Extends Increase, Why Dips Turned Attractive In Short-Term– Bitcoin price continues to rise, reaching $67k.
  2. Standard Chartered Reaffirms $150,000 Bitcoin Price Target By Year-End– Standard Chartered predicts a year-end Bitcoin price target of $150,000.
  3. Trader That Called 2022 Bear Market Bottom Updates Bitcoin Forecast– A trader who accurately predicted the bear market bottom in 2022 has updated his Bitcoin forecast, providing a price prediction for the BTC cycle top.
  4. Bitcoin price today: pinned at $66k as rate jitters spur capital outflows By– Bitcoin price remains stagnant at $66k amid concerns of capital outflows due to rising interest rates.
  5. Binance Adds Support For OMNI, PEPE, & Others, Prices To Surge?– Binance adds support for Omni, Pepe, and others as prices surge.

Factors DrivingΒ the Growth – Market Sentiment

The analysis of the ‘Positive Keywords’ table indicates several positive sentiment keywords that have been mentioned in the news in the last 24 hours. These keywords include ‘cryptocurrency market,’ ‘binance,’ ‘bitcoin,’ ‘xrp,’ and ‘rally.’ The repeated mentions of these keywords reflect the positive sentiment surrounding the overall cryptocurrency market and specific cryptocurrencies like Bitcoin and XRP. These positive keywords indicate market optimism and potential growth opportunities within the cryptocurrency industry.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
33cryptocurrency market
30binance
30bitcoin
11cryptocurrencies
10xrp
9price
9rally
8meme coin
7bitcoin halving
7platform

Negative Terms – Sentiment Analysis

OccurrencesKeyword
14binance
13sec
9terraform labs
8crypto.com
8do kwon
6cryptocurrency market
6google
6south korea
5$5.3 billion
5apple

Crypto Investor Fear & Greed Index

The ‘Fear and Greed Indicators’ table provides insights into the market sentiment surrounding the cryptocurrency market. The indicators suggest a mix of fear and greed among investors, with the values fluctuating between fear and greed levels. It is important to note that market sentiment can rapidly change, and investors should monitor these indicators along with other factors to make informed investment decisions.

DateValueVariationSource
2024-04-24 00:00:0071pt0ptAlternative.me
2024-04-24 00:00:0072pt1ptAlternative.me
2024-04-23 00:00:0071pt-2ptAlternative.me
2024-04-23 00:00:0073pt0ptAlternative.me
2024-04-22 00:00:0072pt0ptAlternative.me
2024-04-22 00:00:0073pt1ptAlternative.me
2024-04-24 00:00:0071pt-2ptBitDegree.org
2024-04-23 00:00:0073pt1ptBitDegree.org
2024-04-22 00:00:0072pt0ptBitDegree.org
2024-04-24 00:00:0061pt-1ptBtcTools.io
2024-04-23 16:00:0062pt5ptBtcTools.io
2024-04-23 08:00:0057pt-2ptBtcTools.io
2024-04-23 00:00:0059pt-1ptBtcTools.io
2024-04-22 16:00:0060pt1ptBtcTools.io
2024-04-22 08:00:0059pt6ptBtcTools.io
2024-04-22 00:00:0053pt-1ptBtcTools.io
2024-04-21 16:00:0054pt-1ptBtcTools.io
2024-04-21 08:00:0055pt0ptBtcTools.io
2024-04-24 00:00:0072pt1ptCoinstats.app
2024-04-23 00:00:0071pt-2ptCoinstats.app
2024-04-23 00:00:0073pt0ptCoinstats.app
2024-04-22 00:00:0073pt0ptCoinstats.app
2024-04-24 00:00:0071pt0ptLookIntoBitcoin.com
2024-04-24 00:00:0072pt1ptLookIntoBitcoin.com
2024-04-23 00:00:0071pt-2ptLookIntoBitcoin.com
2024-04-23 00:00:0073pt0ptLookIntoBitcoin.com
2024-04-22 00:00:0072pt0ptLookIntoBitcoin.com
2024-04-22 00:00:0073pt1ptLookIntoBitcoin.com

Bitcoin: Active Addresses

The ‘Bitcoin Address Indicators’ table provides information on the active addresses and quantities of wallet addresses in the Bitcoin network based on balance values. The data shows fluctuations in the number of addresses and variations in balances over time. These indicators can provide insights into the activity and adoption of Bitcoin, which is an important aspect to consider when analyzing the overall health and growth potential of the network.

DateAddressesVariationIndicatorSource
2024-04-24 00:00:001,250,107,8650.00%Total Addressesbitaps.com
2024-04-24 00:00:001,198,736,8930.00%Zero Balance Addressesbitaps.com
2024-04-24 00:00:00531,015-0.26%Bitcoin Active Addressesbtc.com
2024-04-24 00:00:00540,5830.00%Addresses with over 0bitaps.com
2024-04-24 00:00:00219,3660.00%Addresses with over 0.0000001bitaps.com
2024-04-24 00:00:002,893,8170.00%Addresses with over 0.000001bitaps.com
2024-04-24 00:00:009,715,7010.00%Addresses with over 0.00001bitaps.com
2024-04-24 00:00:0013,299,8370.00%Addresses with over 0.0001bitaps.com
2024-04-24 00:00:0012,072,4650.00%Addresses with over 0.001bitaps.com
2024-04-24 00:00:008,057,1270.00%Addresses with over 0.01bitaps.com
2024-04-24 00:00:003,552,0360.00%Addresses with over 0.1bitaps.com
2024-04-24 00:00:00865,2290.00%Addresses with over 1bitaps.com
2024-04-24 00:00:00138,9090.00%Addresses with over 10bitaps.com
2024-04-24 00:00:0013,8820.00%Addresses with over 100bitaps.com
2024-04-24 00:00:001,9090.00%Addresses with over 1,000bitaps.com
2024-04-24 00:00:001070.00%Addresses with over 10,000bitaps.com
2024-04-24 00:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table highlights important events from the global financial market that could potentially impact the cryptocurrency market. These events, such as trade reports, GDP releases, and central bank speeches, can affect market sentiments and drive price movements. It is crucial for investors to stay informed about these economic events as they can provide valuable insights into the overall market conditions and potential opportunities.

DateImpactEvent
2024-04-25 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-04-25 14:00:00ModeratePending Home Sales Index Month over Month
2024-04-25 14:00:00ModeratePending Home Sales Index Index
2024-04-25 12:30:00HighInternational Trade in Goods (Advance) Imports – M/M
2024-04-25 12:30:00HighGDP Quarter over Quarter – Annual Rate
2024-04-25 12:30:00HighJobless Claims Initial Claims – Level
2024-04-25 12:30:00HighInternational Trade in Goods (Advance) Balance
2024-04-25 12:30:00HighGDP Personal Consumption Expenditures – Annual Rate
2024-04-25 12:30:00HighJobless Claims Initial Claims – Change
2024-04-25 12:30:00HighInternational Trade in Goods (Advance) Exports – M/M
2024-04-25 12:30:00HighJobless Claims 4-Week Moving Average
2024-04-24 17:00:00ModerateUSD – 5-Year Note Auction
2024-04-24 16:30:00ModerateUSD – Atlanta Fed GDPNow (Q1)
2024-04-24 14:30:00ModerateUSD – Cushing Crude Oil Inventories
2024-04-24 14:30:00HighUSD – Crude Oil Inventories
2024-04-24 14:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-04-24 14:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-04-24 14:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-04-24 14:00:00ModerateEUR – ECBΒ΄s Schnabel Speaks
2024-04-24 13:15:00ModerateEUR – ECB McCaul Speaks
2024-04-24 12:30:00ModerateCAD – Wholesale Sales (MoM)
2024-04-24 12:30:00ModerateCAD – Retail Sales (MoM) (Feb)
2024-04-24 12:30:00ModerateCAD – Core Retail Sales (MoM) (Feb)
2024-04-24 12:30:00HighUSD – Durable Goods Orders (MoM) (Mar)
2024-04-24 12:30:00ModerateUSD – Core Durable Goods Orders (MoM) (Mar)
2024-04-24 12:30:00HighDurable Goods Orders Core Capital Goods – M/M
2024-04-24 12:30:00HighDurable Goods Orders New Orders – M/M
2024-04-24 12:30:00HighDurable Goods Orders Ex-Transportation – M/M
2024-04-24 10:00:00ModerateEUR – Eurogroup Meetings
2024-04-24 09:30:00ModerateEUR – German Buba President Nagel Speaks
2024-04-24 09:30:00ModerateEUR – German 10-Year Bund Auction
2024-04-24 08:15:00ModerateEUR – ECB Supervisory Board Member Tuominen Speaks
2024-04-24 08:00:00ModerateEUR – German Ifo Business Climate Index (Apr)
2024-04-24 08:00:00ModerateEUR – German Current Assessment (Apr)
2024-04-24 08:00:00ModerateEUR – German Business Expectations (Apr)
2024-04-24 07:00:00ModerateEUR – German Buba President Nagel Speaks
2024-04-24 01:30:00ModerateAUD – Trimmed Mean CPI (QoQ) (Q1)
2024-04-24 01:30:00ModerateAUD – CPI (QoQ) (Q1)
2024-04-24 01:30:00ModerateAUD – CPI (YoY) (Q1)
2024-04-23 20:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-04-23 17:00:00ModerateUSD – 2-Year Note Auction
2024-04-23 14:00:00HighUSD – New Home Sales (Mar)
2024-04-23 14:00:00ModerateUSD – New Home Sales (MoM) (Mar)
2024-04-23 14:00:00HighNew Home Sales Annual Rate
2024-04-23 13:45:00HighUSD – S&P Global Services PMI (Apr)
2024-04-23 13:45:00ModerateUSD – S&P Global Composite PMI (Apr)
2024-04-23 13:45:00HighUSD – S&P Global US Manufacturing PMI (Apr)
2024-04-23 13:45:00ModeratePMI Composite Flash Composite Index
2024-04-23 13:45:00ModeratePMI Composite Flash Services Index
2024-04-23 13:45:00ModeratePMI Composite Flash Manufacturing Index
2024-04-23 13:00:00ModerateUSD – Building Permits
2024-04-23 12:00:00ModerateUSD – Building Permits
2024-04-23 11:30:00ModerateUSD – Building Permits
2024-04-23 11:30:00ModerateEUR – German Buba President Nagel Speaks
2024-04-23 11:15:00ModerateGBP – BoE MPC Member Pill Speaks
2024-04-23 10:00:00ModerateEUR – Eurogroup Meetings
2024-04-23 08:30:00ModerateGBP – S&P Global/CIPS UK Services PMI
2024-04-23 08:30:00ModerateGBP – S&P Global/CIPS UK Manufacturing PMI
2024-04-23 08:30:00ModerateGBP – S&P Global/CIPS UK Composite PMI
2024-04-23 08:15:00ModerateEUR – ECB Supervisory Board Member Fernandez-Bollo Speaks
2024-04-23 08:00:00ModerateEUR – HCOB Eurozone Services PMI (Apr)
2024-04-23 08:00:00ModerateEUR – HCOB Eurozone Composite PMI (Apr)
2024-04-23 08:00:00ModerateEUR – HCOB Eurozone Manufacturing PMI (Apr)
2024-04-23 08:00:00ModerateGBP – MPC Member Haskel Speaks
2024-04-23 07:30:00ModerateEUR – HCOB Germany Services PMI (Apr)
2024-04-23 07:30:00ModerateEUR – HCOB Germany Manufacturing PMI (Apr)
2024-04-23 07:15:00ModerateEUR – HCOB France Services PMI (Apr)
2024-04-23 07:15:00ModerateEUR – HCOB France Manufacturing PMI (Apr)
2024-04-23 05:00:00ModerateJPY – BoJ Core CPI (YoY)
2024-04-23 05:00:00ModerateSGD – CPI (YoY) (Mar)
2024-04-23 05:00:00ModerateSGD – Core CPI (YoY) (Mar)
2024-04-23 00:30:00ModerateJPY – au Jibun Bank Japan Services PMI

Crypto Assets Prices

The ‘Prices’ table provides information on the prices, price variations, and volatilities of major cryptocurrencies. The data shows the recent price movements in Bitcoin, Ethereum, and other cryptocurrencies, along with their respective variations and volatilities. These price indicators are essential for understanding the current market sentiment and making informed investment decisions.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-04-24 00:16:00Bitcoin66,565.51-0.38%-0.69-3.63%2.15-2.08%
2024-04-23 00:16:00Bitcoin66,816.012.51%2.942.36%4.241.97%
2024-04-22 00:16:00Bitcoin65,136.010.46%0.58-1.61%2.27-1.42%
2024-04-23 00:16:00Ethereum3,205.251.26%1.690.75%3.380.79%
2024-04-22 00:16:00Ethereum3,165.000.61%0.94-2.87%2.59-2.48%
2024-04-23 00:16:00Binance Coin606.003.93%4.021.44%5.242.34%
2024-04-22 00:16:00Binance Coin582.202.10%2.57-0.82%2.90-1.75%

CryptocurrencyΒ Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table presents the total market capitalization and trading volumes of major cryptocurrencies. The data shows the capitalization and volume variations, providing insights into the overall market trends and liquidity of cryptocurrencies. These indicators can be used to assess the market’s depth and potential investment opportunities.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-04-24 00:00:00Binance Coin93,371,090,9920.25%1,782,081,628133.28%
2024-04-23 00:00:00Binance Coin93,140,127,5664.54%763,909,936-24.47%
2024-04-22 00:00:00Binance Coin89,091,610,6801.41%1,011,433,48414.57%
2024-04-24 00:00:00Bitcoin1,307,786,234,812-0.70%22,244,439,898-19.63%
2024-04-23 00:00:00Bitcoin1,317,058,642,8542.91%27,679,088,77741.61%
2024-04-22 00:00:00Bitcoin1,279,763,566,4070.14%19,545,471,118-15.20%
2024-04-24 00:00:00Ethereum393,043,550,8402.23%10,944,381,924-10.75%
2024-04-23 00:00:00Ethereum384,466,906,7161.76%12,262,910,62534.27%
2024-04-22 00:00:00Ethereum377,835,271,557-0.20%9,132,832,954-7.73%
2024-04-24 00:00:00Tether110,436,760,6020.50%41,286,910,987-8.42%
2024-04-23 00:00:00Tether109,891,550,1720.02%45,084,310,24545.59%
2024-04-22 00:00:00Tether109,867,996,2200.08%30,966,211,11227.55%

Cryptocurrency Exchanges Volume and Variation

The ‘Exchanges’ table highlights the trading volumes and variations on major cryptocurrency exchanges. The data indicates the performance and market share of exchanges such as Binance, Binance US, Coinbase, and others. This information is valuable for investors as it reflects the trading activities and preferences of market participants.

DateExchangeVolumeVariation
2024-04-24 00:00:00Binance294,8873.63%
2024-04-23 00:00:00Binance284,54433.82%
2024-04-22 00:00:00Binance212,629-8.76%
2024-04-24 00:00:00Binance US243-2.02%
2024-04-23 00:00:00Binance US24832.62%
2024-04-22 00:00:00Binance US187-25.50%
2024-04-24 00:00:00Bitfinex2,466-39.28%
2024-04-23 00:00:00Bitfinex4,06178.74%
2024-04-22 00:00:00Bitfinex2,272-16.38%
2024-04-24 00:00:00Bybit50,187-15.78%
2024-04-23 00:00:00Bybit59,58838.62%
2024-04-22 00:00:00Bybit42,986-12.10%
2024-04-24 00:00:00Coinbase31,403-8.83%
2024-04-23 00:00:00Coinbase34,44656.14%
2024-04-22 00:00:00Coinbase22,061-13.63%
2024-04-24 00:00:00Crypto.com14,524-1.01%
2024-04-23 00:00:00Crypto.com14,67211.89%
2024-04-22 00:00:00Crypto.com13,113-10.71%
2024-04-24 00:00:00Gate.io39,2811.37%
2024-04-23 00:00:00Gate.io38,75212.16%
2024-04-22 00:00:00Gate.io34,551-4.01%
2024-04-24 00:00:00Kraken15,9682.35%
2024-04-23 00:00:00Kraken15,602138.82%
2024-04-22 00:00:00Kraken6,533-26.78%
2024-04-24 00:00:00KuCoin11,185-4.40%
2024-04-23 00:00:00KuCoin11,70019.39%
2024-04-22 00:00:00KuCoin9,800-17.08%
2024-04-24 00:00:00OKX35,204-11.22%
2024-04-23 00:00:00OKX39,65429.23%
2024-04-22 00:00:00OKX30,685-4.93%

Mining – Blockchain Technology

The ‘Mining’ table provides insights into the mining difficulty, mined blocks, block rewards, and hash rate, representing the computational mining capacity in the cryptocurrency market. The data indicates variations in mining difficulty, blocks, rewards, and hash rate levels, which can influence the overall network security and mining profitability.

Item2024-04-242024-04-232024-04-222024-04-212024-04-202024-04-192024-04-18
Difficulty86.39T86.39T86.39T86.39T86.39T86.39T86.39T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks840.59K840.42K840.27K840.13K840.00K839.85K839.70K
Blocks Variation0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Reward BTC3.133.133.133.133.136.256.25
Reward BTC Variation0.00%0.00%0.00%0.00%-50.00%0.00%0.00%
Hash Rate GB712.87B644.16B605.51B558.27B648.45B618.39B588.33B
Hash Rate GB Variation10.67%6.38%8.46%-13.91%4.86%5.11%-15.95%

Conclusion

In conclusion, the analysis of the cryptocurrency market indicates a current neutral to trending up trend, supported by positive price movements, price targets, and overall market sentiments. The positive keywords, along with the performance of major cryptocurrencies, contribute to the optimistic outlook. However, it is essential to closely monitor market conditions, economic events, and news developments to make informed investment decisions.

So What

Considering the current state of the cryptocurrency market, it is crucial for investors to exercise caution and stay updated on market developments. While there are positive indicators and sentiment, market conditions can change rapidly, and potential risks need to be carefully evaluated. It is advisable to diversify investment portfolios, conduct thorough research, and consult with financial advisors to navigate the dynamic cryptocurrency market effectively.

What next?

Looking ahead, it is expected that the cryptocurrency market will continue to be influenced by various factors, including global economic events, regulatory developments, and technological advancements. Investors should closely monitor these factors and how they impact the market. Additionally, the upcoming trends in Bitcoin, Ethereum, and other major cryptocurrencies will likely shape the overall market direction. It is advisable to stay informed and adapt investment strategies accordingly.

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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