πŸ“ƒ ASIA Crypto Market Trend 8h – 03/10/2023

03/10/2023 Crypto Market Analysis & Trend: Neutral

With the data provided and analyzing the overall market data, we are observing a neutral sentiment within the cryptocurrency space in the short-term outlook. This perspective is supported by the significant variations noted in the ‘Fear and Greed Indicators’ data, showing a fluctuating range between fear and greed. With sources like Alternative.me and BitDegree.org, the sentiment swung from fear into greed, providing significant fluctuations in the underlying sentiments. Additionally, our analysis of the ‘Bitcoin Address Indicators’ illuminates a minor decrease in active Bitcoin addresses. This nominal decrease in active addresses could be a signal of stagnation within the Bitcoin trading community. Overall, while we notice some optimistic signs, significant uncertainties linger in the market. This neutral outlook marries the complex combination of positive and negative indicators.

What is important

The cryptocurrency market, at this moment, is laden with mixed sentiments. Despite signs of recovery in prices such as Bitcoin’s and Ethereum’s climb over the recent past (‘Prices’ table), the ‘Fear and Greed Indicators’ suggest fluctuating investor sentiment. The variations in ‘Bitcoin Address Indicators’ raise questions about Bitcoin’s trading momentum. This blend of fluctuating sentiment and mixed price performance paints a complex landscape for the cryptocurrency market.

Latest Crypto News – Top 5

  1. Bitcoin, Solana products lead first crypto investment inflow since mid-August– News indicates Bitcoin and Solana investment products lead first crypto inflow since mid-August
  2. September: A Month of Devastating Exploits and Losses– The article discusses the September crypto carnage, which includes devastating exploits and losses in the cryptocurrency market.
  3. Crypto Market Cap Adds $40B Daily as Solana (SOL) Explodes 14% (Market Watch)– The cryptocurrency market cap increases by $40 billion daily, with Solana (SOL) experiencing a surge of 14%.
  4. FTX Heist: Hacker Shifts $51M in Ethereum as Former CEO Preps for Trial– A hacker shifted $51m in Ethereum as a former CEO preps for trial.

Factors DrivingΒ the Growth – Market Sentiment

There is a continuous focus on major cryptocurrencies such as Bitcoin in positive market mentions, as observed from the ‘Positive Keywords’ table. However, the ‘Negative Keywords’ table hints at regulatory concerns and potential market downturns, with terms like ‘cryptocurrency market’ and ‘Bitcoin’ featuring more prominently.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
19bitcoin
10cryptocurrency market
8price
5coinbase
5solana
5surge
4crypto
4singapore
3$28k
3ethereum

Negative Terms – Sentiment Analysis

OccurrencesKeyword
7cryptocurrency market
5bitcoin
4crypto
4ftx
4sam bankman-fried
3ethereum
3hacks
3q3
3sec
3shiba inu

Crypto Fear & Greed Index

The ‘Fear and Greed Indicators’ highlight an extremely fluctuating cryptocurrency market sentiment. With sources like Alternative.me and BitDegree.org indicating varying states of fear and greed, market sentiment remains diverse and changeable.

DateValueVariationSource
30/09/2023 01:00:0047pt0ptAlternative.me
03/10/2023 00:00:0050pt0ptAlternative.me
02/10/2023 01:00:0050pt2ptAlternative.me
02/10/2023 00:00:0048pt0ptAlternative.me
01/10/2023 01:00:0048pt1ptAlternative.me
01/10/2023 00:00:0047pt0ptAlternative.me
30/09/2023 07:00:0047pt0ptBitDegree.org
03/10/2023 00:00:0050pt0ptBitDegree.org
02/10/2023 10:00:0050pt2ptBitDegree.org
02/10/2023 00:00:0048pt0ptBitDegree.org
01/10/2023 06:00:0048pt1ptBitDegree.org
01/10/2023 00:00:0047pt0ptBitDegree.org
30/09/2023 08:00:0066pt1ptBtcTools.io
30/09/2023 01:00:0065pt0ptBtcTools.io
03/10/2023 00:00:0062pt-9ptBtcTools.io
02/10/2023 08:00:0071pt2ptBtcTools.io
02/10/2023 00:00:0069pt0ptBtcTools.io
01/10/2023 16:00:0069pt4ptBtcTools.io
01/10/2023 08:00:0065pt1ptBtcTools.io
01/10/2023 00:00:0064pt-2ptBtcTools.io
03/10/2023 00:00:0050pt0ptCoinstats.app
02/10/2023 00:00:0050pt2ptCoinstats.app
01/10/2023 00:00:0048pt0ptCoinstats.app
02/10/2023 00:00:0050pt2ptLookIntoBitcoin.com
01/10/2023 00:00:0048pt0ptLookIntoBitcoin.com
30/09/2023 01:00:0047pt0ptMilkroad.com
03/10/2023 00:00:0050pt0ptMilkroad.com
02/10/2023 01:00:0050pt2ptMilkroad.com
02/10/2023 00:00:0048pt0ptMilkroad.com
01/10/2023 01:00:0048pt1ptMilkroad.com
01/10/2023 00:00:0047pt0ptMilkroad.com

Bitcoin Active Addresses

The ‘Bitcoin Address Indicators’ show a minor decrease in active addresses but do not indicate a large-scale exodus from the Bitcoin market. It hints at a cautious stagnation among the Bitcoin trading community, rather than an outright decline.

DateValueVariationAddressSource
01/10/2023 00:00:001,036,440-1.72%Bitcoin Active AddressesLookIntoBitcoin.com
30/09/2023 00:00:001,054,314-0.97%Bitcoin Active AddressesLookIntoBitcoin.com
29/09/2023 00:00:001,064,5360.96%Bitcoin Active AddressesLookIntoBitcoin.com
28/09/2023 00:00:001,054,331-0.61%Bitcoin Active AddressesLookIntoBitcoin.com
01/10/2023 00:00:0012,364,929-0.06%Addresses with Balance > 0.01 BitcoinLookIntoBitcoin.com
30/09/2023 00:00:0012,372,275-0.01%Addresses with Balance > 0.01 BitcoinLookIntoBitcoin.com
29/09/2023 00:00:0012,373,899-0.03%Addresses with Balance > 0.01 BitcoinLookIntoBitcoin.com
28/09/2023 00:00:0012,377,437-0.11%Addresses with Balance > 0.01 BitcoinLookIntoBitcoin.com
01/10/2023 00:00:004,490,8610.00%Addresses with Balance > 0.1 BitcoinLookIntoBitcoin.com
30/09/2023 00:00:004,490,827-0.01%Addresses with Balance > 0.1 BitcoinLookIntoBitcoin.com
29/09/2023 00:00:004,491,3460.01%Addresses with Balance > 0.1 BitcoinLookIntoBitcoin.com
28/09/2023 00:00:004,491,084-0.06%Addresses with Balance > 0.1 BitcoinLookIntoBitcoin.com
01/10/2023 00:00:001,021,4590.01%Addresses with Balance > 1 BitcoinLookIntoBitcoin.com
30/09/2023 00:00:001,021,3280.00%Addresses with Balance > 1 BitcoinLookIntoBitcoin.com
29/09/2023 00:00:001,021,367-0.01%Addresses with Balance > 1 BitcoinLookIntoBitcoin.com
28/09/2023 00:00:001,021,436-0.01%Addresses with Balance > 1 BitcoinLookIntoBitcoin.com
01/10/2023 00:00:00157,3530.01%Addresses with Balance > 10 BitcoinLookIntoBitcoin.com
30/09/2023 00:00:00157,3420.01%Addresses with Balance > 10 BitcoinLookIntoBitcoin.com
29/09/2023 00:00:00157,3200.00%Addresses with Balance > 10 BitcoinLookIntoBitcoin.com
28/09/2023 00:00:00157,3130.02%Addresses with Balance > 10 BitcoinLookIntoBitcoin.com
01/10/2023 00:00:0015,8270.04%Addresses with Balance > 100 BitcoinLookIntoBitcoin.com
30/09/2023 00:00:0015,8200.01%Addresses with Balance > 100 BitcoinLookIntoBitcoin.com
29/09/2023 00:00:0015,8180.03%Addresses with Balance > 100 BitcoinLookIntoBitcoin.com
28/09/2023 00:00:0015,8140.03%Addresses with Balance > 100 BitcoinLookIntoBitcoin.com
01/10/2023 00:00:002,0040.00%Addresses with Balance > 1000 BitcoinLookIntoBitcoin.com
30/09/2023 00:00:002,0040.05%Addresses with Balance > 1000 BitcoinLookIntoBitcoin.com
29/09/2023 00:00:002,003-0.15%Addresses with Balance > 1000 BitcoinLookIntoBitcoin.com
28/09/2023 00:00:002,0060.10%Addresses with Balance > 1000 BitcoinLookIntoBitcoin.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table does not show any significant direct influences on the cryptocurrency market. However, events like ‘EIA Petroleum Status Report Crude Oil Inventories’ and ‘JOLTs Job Openings’ could create indirect influence through macroeconomic indicators.

DateImpactEvent
04/10/2023 14:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
04/10/2023 14:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
04/10/2023 14:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
04/10/2023 14:00:00ModerateISM Services Index Index
04/10/2023 14:00:00ModerateFactory Orders Month over Month
04/10/2023 12:15:00ModerateADP Employment Report Private Payrolls – M/M
03/10/2023 20:30:00ModerateAPI Weekly Crude Oil Stock
03/10/2023 14:00:00HighJOLTs Job Openings (Aug)
03/10/2023 14:00:00ModerateJOLTS Job Openings
03/10/2023 12:00:00ModerateIndustrial Production (YoY) (Aug)
03/10/2023 12:00:00ModerateFOMC Member Bostic Speaks
03/10/2023 08:00:00ModerateIPC-Fipe Inflation Index (MoM) (Sep)
03/10/2023 07:00:00ModerateSpanish Unemployment Change
03/10/2023 06:30:00ModerateCPI (MoM) (Sep)
03/10/2023 06:10:00ModerateECBΒ΄s Lane Speaks
03/10/2023 03:35:00Moderate10-Year JGB Auction
03/10/2023 03:30:00ModerateRBA Rate Statement
03/10/2023 03:30:00HighRBA Interest Rate Decision (Oct)
03/10/2023 00:30:00ModerateHome Loans (MoM)
03/10/2023 00:30:00ModerateBuilding Approvals (MoM) (Aug)
03/10/2023 00:00:00ModerateMotor Vehicle Sales North American-Made Sales – Annual Rate
03/10/2023 00:00:00ModerateMotor Vehicle Sales Total Vehicle Sales – Annual Rate
02/10/2023 23:30:00ModerateFOMC Member Mester Speaks
02/10/2023 21:00:00ModerateNZIER Business Confidence (Q3)
02/10/2023 17:30:00ModerateFOMC Member Williams Speaks
02/10/2023 15:00:00ModerateFOMC Member Harker Speaks
02/10/2023 15:00:00HighFed Chair Powell Speaks
02/10/2023 15:00:00ModerateBoE MPC Member Mann
02/10/2023 14:00:00HighISM Manufacturing Index Index
02/10/2023 14:00:00ModerateConstruction Spending Year over Year
02/10/2023 14:00:00ModerateConstruction Spending Month over Month
02/10/2023 14:00:00HighISM Manufacturing Prices (Sep)
02/10/2023 14:00:00HighISM Manufacturing PMI (Sep)
02/10/2023 14:00:00ModerateISM Manufacturing Employment (Sep)
02/10/2023 13:45:00ModeratePMI Manufacturing Final Index
02/10/2023 13:45:00ModerateS&P Global US Manufacturing PMI (Sep)
02/10/2023 09:00:00ModerateUnemployment Rate (Aug)
02/10/2023 08:30:00ModerateIPC-Fipe Inflation Index (MoM) (Sep)
02/10/2023 08:30:00ModerateS&P Global/CIPS UK Manufacturing PMI (Sep)
02/10/2023 08:00:00ModerateHCOB Eurozone Manufacturing PMI (Sep)
02/10/2023 08:00:00ModerateIPC-Fipe Inflation Index (MoM) (Sep)
02/10/2023 07:55:00ModerateHCOB Germany Manufacturing PMI (Sep)
02/10/2023 07:50:00ModerateHCOB France Manufacturing PMI (Sep)
02/10/2023 07:45:00ModerateHCOB Italy Manufacturing PMI (Sep)
02/10/2023 07:30:00Moderateprocure.ch PMI (Sep)
02/10/2023 07:15:00ModerateHCOB Spain Manufacturing PMI (Sep)
02/10/2023 07:00:00ModerateECBΒ΄s De Guindos Speaks
02/10/2023 07:00:00ModerateSpanish Unemployment Change
02/10/2023 06:00:00ModerateNationwide HPI (MoM)
02/10/2023 06:00:00ModerateNationwide HPI (YoY)

Cryptocurrency Prices

The ‘Prices’ table suggests a recent recovery in the prices of major cryptocurrencies like Bitcoin and Ethereum, despite some sporadic downturns. However, the price variation between different cryptocurrencies remains substantial, pointing towards market volatility.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
03/10/2023 00:00:00Bitcoin27,494.52-1.81%-1.57-5.28%4.760.73%
02/10/2023 00:00:00Bitcoin27,992.573.68%3.713.61%4.033.25%
01/10/2023 00:00:00Bitcoin26,962.560.00%0.100.00%0.780.00%
03/10/2023 00:00:00Ethereum1,662.41-4.29%-3.59-7.16%6.551.57%
02/10/2023 00:00:00Ethereum1,733.793.63%3.573.58%4.983.29%
01/10/2023 00:00:00Ethereum1,670.890.00%-0.010.00%1.690.00%
03/10/2023 00:00:00Binance Coin214.60-1.68%-1.33-2.92%3.991.03%
02/10/2023 00:00:00Binance Coin218.201.65%1.582.09%2.961.84%
01/10/2023 00:00:00Binance Coin214.600.00%-0.510.00%1.120.00%

CryptocurrencyΒ Capitalization and Volume

Insights from the ‘Market Capitalizations and Volumes’ table show that major cryptocurrencies such as Bitcoin and Ethereum have experienced market capitalization fluctuations. While capitalization for Bitcoin and Ethereum recently decreased, Binance Coin saw minor growth. This underlines the overall neutrality in the market.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
03/10/2023 00:00:00Binance Coin33,063,385,446-1.44%565,111,88925.68%
02/10/2023 00:00:00Binance Coin33,539,533,2481.51%419,977,14855.06%
01/10/2023 00:00:00Binance Coin33,034,392,756-0.15%188,754,346-88.74%
03/10/2023 00:00:00Bitcoin538,323,470,358-1.30%10,245,157,482-4.81%
02/10/2023 00:00:00Bitcoin545,302,108,0273.55%10,737,885,17241.96%
01/10/2023 00:00:00Bitcoin525,936,342,9950.29%6,232,496,381-92.59%
03/10/2023 00:00:00Ethereum200,172,602,294-4.22%14,640,329,65339.55%
02/10/2023 00:00:00Ethereum208,616,290,4083.71%8,849,858,94239.07%
01/10/2023 00:00:00Ethereum200,867,042,1130.14%5,392,381,676-107.98%
03/10/2023 00:00:00Tether83,273,336,8950.03%30,151,959,92445.05%
02/10/2023 00:00:00Tether83,251,476,138-0.01%16,569,712,93735.83%
01/10/2023 00:00:00Tether83,258,001,885-0.01%10,632,113,690-27.95%

Cryptocurrency Exchanges Volume and Variation

The ‘Exchanges’ table points to a steady fluctuation in volume across multiple cryptocurrency exchanges. Such fluctuations indicate both heightened activity and potential volatility within the market.

DateExchangeVolumeVariation
03/10/2023 00:00:00Binance271,48740.47%
02/10/2023 00:00:00Binance161,62426.67%
01/10/2023 00:00:00Binance118,523-53.14%
03/10/2023 00:00:00Binance US51130.23%
02/10/2023 00:00:00Binance US35749.53%
01/10/2023 00:00:00Binance US180-72.95%
03/10/2023 00:00:00Bitfinex4,89624.63%
02/10/2023 00:00:00Bitfinex3,69066.07%
01/10/2023 00:00:00Bitfinex1,252-150.33%
03/10/2023 00:00:00Bybit63,72254.72%
02/10/2023 00:00:00Bybit28,85154.06%
01/10/2023 00:00:00Bybit13,254-186.70%
03/10/2023 00:00:00Coinbase54,27154.23%
02/10/2023 00:00:00Coinbase24,84237.91%
01/10/2023 00:00:00Coinbase15,425-103.67%
03/10/2023 00:00:00Crypto.com19,82750.02%
02/10/2023 00:00:00Crypto.com9,90935.68%
01/10/2023 00:00:00Crypto.com6,374-104.94%
03/10/2023 00:00:00Gate.io32,65745.32%
02/10/2023 00:00:00Gate.io17,85828.30%
01/10/2023 00:00:00Gate.io12,804-46.11%
03/10/2023 00:00:00Kraken28,46260.13%
02/10/2023 00:00:00Kraken11,34748.92%
01/10/2023 00:00:00Kraken5,797-224.49%
03/10/2023 00:00:00KuCoin14,97821.52%
02/10/2023 00:00:00KuCoin11,75442.68%
01/10/2023 00:00:00KuCoin6,737-41.54%
03/10/2023 00:00:00OKX43,75337.19%
02/10/2023 00:00:00OKX27,48343.94%
01/10/2023 00:00:00OKX15,407-91.36%

Mining – Blockchain Technology

The ‘Mining’ analysis indicates a steady climber regarding difficulty, showing growing competition amongst miners. This stability suggests that the mining community remains active and committed, despite market fluctuations and energy cost concerns.

Item03/10/202302/10/202301/10/202330/09/202329/09/202328/09/202327/09/2023
Difficulty57.12T57.12T57.12T57.12T57.12T57.12T57.12T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks810.38K810.22K810.08K809.94K809.79K809.65K809.49K
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 GB440.11B400.36B389.00B417.40B411.72B445.79B380.49B
Hash Rate GB Variation9.03%2.84%-7.30%1.36%-8.28%14.65%-5.97%

Conclusion

Combining all these factors, the existing market conditions reflect a neutral sentiment in the short term. The fluctuating investor sentiment, the cautious stagnation in Bitcoin trading, the sporadic yet noticeable recovery in prices, and steady mining activity all signify a complex market scenario. Despite pockets of positive trends, substantial uncertainties and the potential for market volatility overshadow a fully optimistic outlook.

So What

While the indicators suggest a neutral stance, it’s important for market participants to remain cautious. Traders should prepare for potential market volatility and carefully examine their investment strategies in light of these market conditions. Anchor your strategies in strong research, keep an eye on market movements, stay flexible, and consider the risk management properties of your investment portfolio.

What next?

In the near future, the market may continue its hesitating stance between fear and greed, thus creating more market neutrality. However, the potential for sudden changes always exists within this unpredictable market. As a result, it’s critical to monitor any changes in market sentiment, major price movements, events impacting the economy, and mining activity for meaningful trends and patterns that could signal a shift in the market direction.

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.

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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