11/10/2023 Crypto Market Analysis & Trend: Neutral
Investigation into current data sources and market indicators suggests the cryptocurrency market is likely to remain relatively neutral, with no strong directional bias, in the next eight hours. Several reasons support this perspective.
First, key Fear and Greed Indicators from sources such as Alternative.me, BtcTools.io, and BitDegree.org produce mixed signals. The majority of indicators gravitate around the ‘fear’ to ‘greed’ range, showing a divided market sentiment.
Secondly, the `Prices` table displays a mixture of positive and negative price variations across leading cryptocurrencies, like Bitcoin and Ethereum. The fluctuations indicate hesitancy in the market, with no particular crypto-asset consistently leading in terms of price performance.
Third, the Market Capitalization and Volumes data show relatively stable variations. Some metrics pose a slight increase or decrease, but nothing suggests the market’s total capitalization or volumes are subject to dramatic swings.
Lastly, Bitcoin Address Indicators show a very remarkable consistency across the series, implying no significant changes in network activity that could point to a decisive market trend.
However, while these observations lead us to anticipate a market neutrality, we shall remain careful given the volatile nature of the cryptocurrency field.
What is important
Key observations supporting market neutrality include mixed sentiments on Fear and Greed Indicators, fluctuations in prices with no consistent deviants, stable variances in Market Capitalizations and Volumes overall, and a stable trend observed in Bitcoin Address Indicators. However, the nature of the cryptocurrency market means it’s always subject to potential changes and fluctuations.
Latest Crypto News – Top 5
- Israel Police Freeze Crypto Accounts at Binance Allegedly Used by Hamas– Israel police freeze crypto accounts allegedly used by Hamas.
- Hamas-linked crypto accounts frozen by Israeli police, with Binance´s help: Report– Hamas-linked crypto accounts frozen by Israeli police with Binance´s help.
- Israel Says Binance Helped Seize Hamas´s Crypto Wallets– Israel claims to have seized Hamas crypto wallets.
- Binance Crypto Phishing Scammers Steal $450,000 From Hong Kong Victims– Phishing scam results in trader losing 22 ETH on Binance
- Geopolitical Uncertainty Puts Bitcoin under Pressure, $100M in Liquidations– Geopolitical uncertainty causes Bitcoin liquidations
Factors Driving the Growth – Market Sentiment
The ‘Positive Keywords’ and ‘Negative Keywords’ tables indicate some shared themes across various cryptocurrencies, such as ‘bullish’ and ‘cryptocurrency market’ on the positive side and ‘ethereum’, ‘bitcoin’, and ‘hamas’ on the negative side. The repeated negative references to ‘binance’ imply market concerns about this platform.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 5 | cryptocurrency market |
| 4 | xrp |
| 2 | bitcoin |
| 2 | bullish |
| 2 | ethereum-based altcoin |
| 2 | investment |
| 2 | reasons |
| 2 | ripple |
| 2 | solana |
| 2 | surge |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 19 | binance |
| 10 | crypto |
| 10 | hamas |
| 9 | cryptocurrency market |
| 9 | ethereum |
| 8 | bitcoin |
| 6 | hong kong |
| 6 | israel |
| 5 | crypto accounts |
| 4 | bitmain |
Crypto Fear & Greed Index
An analysis of the ‘Fear and Greed Indicators’ reveals mixed perspectives. The data is scattered across the spectrum from fear to greed, and no single strong sentiment characterizes the data. This spread indicates a market in flux, with no clear consensus on its fate.
| Date | Value | Variation | Source |
|---|---|---|---|
| 11/10/2023 00:00:00 | 47pt | -3pt | Alternative.me |
| 11/10/2023 00:00:00 | 50pt | 0pt | Alternative.me |
| 10/10/2023 00:00:00 | 50pt | 0pt | Alternative.me |
| 09/10/2023 00:00:00 | 50pt | 0pt | Alternative.me |
| 11/10/2023 00:00:00 | 50pt | 0pt | BitDegree.org |
| 10/10/2023 00:00:00 | 50pt | 0pt | BitDegree.org |
| 09/10/2023 00:00:00 | 50pt | 0pt | BitDegree.org |
| 11/10/2023 00:00:00 | 63pt | -1pt | BtcTools.io |
| 10/10/2023 16:00:00 | 64pt | -1pt | BtcTools.io |
| 10/10/2023 00:00:00 | 65pt | -3pt | BtcTools.io |
| 09/10/2023 16:00:00 | 68pt | 3pt | BtcTools.io |
| 09/10/2023 08:00:00 | 65pt | 2pt | BtcTools.io |
| 09/10/2023 00:00:00 | 63pt | 0pt | BtcTools.io |
| 11/10/2023 00:00:00 | 47pt | -3pt | Coinstats.app |
| 10/10/2023 00:00:00 | 50pt | 0pt | Coinstats.app |
| 09/10/2023 00:00:00 | 50pt | 0pt | Coinstats.app |
| 11/10/2023 00:00:00 | 47pt | -3pt | LookIntoBitcoin.com |
| 10/10/2023 00:00:00 | 50pt | 0pt | LookIntoBitcoin.com |
| 09/10/2023 00:00:00 | 50pt | 0pt | LookIntoBitcoin.com |
| 11/10/2023 00:00:00 | 50pt | 0pt | Milkroad.com |
| 10/10/2023 00:00:00 | 50pt | 0pt | Milkroad.com |
| 09/10/2023 00:00:00 | 50pt | 0pt | Milkroad.com |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table shows remarkable consistency in critical metrics over five different days. Despite minor fluxes, the general stability implies that there’s no dramatic shift in Bitcoin holders’ behavior.
| Date | Value | Variation | Address | Source |
|---|---|---|---|---|
| 09/10/2023 00:00:00 | 923,063 | -1.14% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 08/10/2023 00:00:00 | 933,577 | -2.20% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 07/10/2023 00:00:00 | 954,107 | -2.27% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 06/10/2023 00:00:00 | 975,790 | -1.98% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 09/10/2023 00:00:00 | 12,343,374 | -0.06% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 08/10/2023 00:00:00 | 12,351,106 | -0.01% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 07/10/2023 00:00:00 | 12,352,661 | -0.12% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 06/10/2023 00:00:00 | 12,367,848 | -0.04% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 09/10/2023 00:00:00 | 4,488,516 | 0.02% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 08/10/2023 00:00:00 | 4,487,470 | -0.01% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 07/10/2023 00:00:00 | 4,487,744 | -0.11% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 06/10/2023 00:00:00 | 4,492,891 | -0.04% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 09/10/2023 00:00:00 | 1,019,596 | 0.02% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 08/10/2023 00:00:00 | 1,019,372 | 0.02% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 07/10/2023 00:00:00 | 1,019,120 | -0.26% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 06/10/2023 00:00:00 | 1,021,792 | 0.00% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 09/10/2023 00:00:00 | 157,179 | -0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 08/10/2023 00:00:00 | 157,192 | 0.06% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 07/10/2023 00:00:00 | 157,100 | -0.21% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 06/10/2023 00:00:00 | 157,425 | 0.08% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 09/10/2023 00:00:00 | 15,868 | 0.08% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 08/10/2023 00:00:00 | 15,856 | -0.08% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 07/10/2023 00:00:00 | 15,868 | -0.01% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 06/10/2023 00:00:00 | 15,869 | 0.05% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 09/10/2023 00:00:00 | 2,012 | 0.00% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 08/10/2023 00:00:00 | 2,012 | 0.00% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 07/10/2023 00:00:00 | 2,012 | 0.10% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 06/10/2023 00:00:00 | 2,010 | 0.10% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
Economic events to move the cryptocurrency market
The ‘Economic Events’ table shows a relatively high number of events ranked as having high impact. These events, with potential repercussions in the economy, may cause uncertainty among investors, contributing to the neutral market sentiment.
| Date | Impact | Event |
|---|---|---|
| 12/10/2023 18:00:00 | Moderate | Treasury Statement Balance |
| 12/10/2023 15:00:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 12/10/2023 15:00:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 12/10/2023 15:00:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 12/10/2023 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 12/10/2023 12:30:00 | High | CPI CPI – M/M |
| 12/10/2023 12:30:00 | High | Jobless Claims Initial Claims – Change |
| 12/10/2023 12:30:00 | High | Jobless Claims Initial Claims – Level |
| 12/10/2023 12:30:00 | High | Jobless Claims 4-Week Moving Average |
| 12/10/2023 12:30:00 | High | CPI CPI – Y/Y |
| 12/10/2023 12:30:00 | High | CPI Ex-Food & Energy- Y/Y |
| 12/10/2023 12:30:00 | High | CPI Ex-Food & Energy- M/M |
| 11/10/2023 23:01:00 | Moderate | GBP – RICS House Price Balance (Sep) |
| 11/10/2023 20:30:00 | Moderate | USD – API Weekly Crude Oil Stock |
| 11/10/2023 18:00:00 | High | USD – FOMC Meeting Minutes |
| 11/10/2023 17:00:00 | Moderate | USD – 10-Year Note Auction |
| 11/10/2023 16:15:00 | Moderate | USD – FOMC Member Bostic Speaks |
| 11/10/2023 16:00:00 | Moderate | RUB – CPI (MoM) (Sep) |
| 11/10/2023 16:00:00 | Moderate | RUB – CPI (YoY) (Sep) |
| 11/10/2023 16:00:00 | Moderate | USD – EIA Short-Term Energy Outlook |
| 11/10/2023 14:15:00 | Moderate | USD – Fed Waller Speaks |
| 11/10/2023 12:30:00 | Moderate | CAD – Building Permits (MoM) (Aug) |
| 11/10/2023 12:30:00 | High | USD – PPI (MoM) (Sep) |
| 11/10/2023 12:30:00 | Moderate | USD – Core PPI (MoM) (Sep) |
| 11/10/2023 12:30:00 | High | PPI-Final Demand Ex-Food, Energy & Trade Services – M/M |
| 11/10/2023 12:30:00 | High | PPI-Final Demand Ex-Food & Energy – M/M |
| 11/10/2023 12:30:00 | High | PPI-Final Demand Ex-Food & Energy – Y/Y |
| 11/10/2023 12:30:00 | High | PPI-Final Demand Ex-Food, Energy & Trade Services – Y/Y |
| 11/10/2023 12:30:00 | High | PPI-Final Demand PPI-FD – Y/Y |
| 11/10/2023 12:30:00 | High | PPI-Final Demand PPI-FD – M/M |
| 11/10/2023 12:00:00 | Moderate | BRL – CPI (YoY) (Sep) |
| 11/10/2023 09:00:00 | Moderate | EUR – German Buba Mauderer Speaks |
| 11/10/2023 08:15:00 | Moderate | USD – FOMC Member Bowman Speaks |
| 11/10/2023 08:00:00 | Moderate | CNY – New Loans |
| 11/10/2023 06:00:00 | Moderate | EUR – German CPI (YoY) (Sep) |
| 11/10/2023 06:00:00 | High | EUR – German CPI (MoM) (Sep) |
| 11/10/2023 00:30:00 | Moderate | AUD – RBA Assist Gov Kent Speaks |
| 10/10/2023 22:00:00 | Moderate | USD – FOMC Member Daly Speaks |
| 10/10/2023 19:00:00 | Moderate | USD – FOMC Member Kashkari Speaks |
| 10/10/2023 17:30:00 | Moderate | USD – Fed Waller Speaks |
| 10/10/2023 17:00:00 | Moderate | USD – Fed Waller Speaks |
| 10/10/2023 17:00:00 | Moderate | USD – 3-Year Note Auction |
| 10/10/2023 16:30:00 | Moderate | EUR – German Buba Balz Speaks |
| 10/10/2023 13:30:00 | Moderate | USD – FOMC Member Bostic Speaks |
| 10/10/2023 12:00:00 | Moderate | EUR – ECB President Lagarde Speaks |
| 10/10/2023 08:30:00 | Moderate | GBP – Labour Productivity (Q2) |
Cryptocurrency Prices
The ‘Prices’ table demonstrates fluctuating values across cryptocurrencies, with no single asset consistently outperforming the others. While some assets, like Bitcoin and Ethereum, experienced slight decreases over time, others, like Binance Coin, saw minor appreciation. The result is a lack of a clear market leader.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 11/10/2023 00:00:00 | Bitcoin | 27,390.11 | -0.73% | -0.59 | 0.24% | 1.60 | -1.07% |
| 10/10/2023 00:00:00 | Bitcoin | 27,590.12 | -1.18% | -0.83 | -0.66% | 2.67 | 1.20% |
| 09/10/2023 00:00:00 | Bitcoin | 27,917.05 | 0.00% | -0.17 | 0.00% | 1.47 | 0.00% |
| 11/10/2023 00:00:00 | Ethereum | 1,567.63 | -0.80% | -0.65 | 2.21% | 2.86 | -2.96% |
| 10/10/2023 00:00:00 | Ethereum | 1,580.14 | -3.34% | -2.85 | -2.60% | 5.82 | 4.26% |
| 09/10/2023 00:00:00 | Ethereum | 1,632.84 | 0.00% | -0.25 | 0.00% | 1.56 | 0.00% |
| 11/10/2023 00:00:00 | Binance Coin | 208.60 | 1.34% | 1.31 | 3.73% | 3.60 | -1.45% |
| 10/10/2023 00:00:00 | Binance Coin | 205.80 | -2.72% | -2.42 | -1.95% | 5.05 | 3.13% |
| 09/10/2023 00:00:00 | Binance Coin | 211.40 | 0.00% | -0.47 | 0.00% | 1.92 | 0.00% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table confirms the narrative of a market without a clear direction. While some cryptocurrencies experienced relatively high capitalization and volume variations, such as Binance Coin and Tether, others, like Bitcoin and Ethereum, showed stability.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 11/10/2023 00:00:00 | Binance Coin | 32,124,877,056 | 1.44% | 555,476,619 | 14.44% |
| 10/10/2023 00:00:00 | Binance Coin | 31,663,076,066 | -2.77% | 475,288,217 | 47.01% |
| 09/10/2023 00:00:00 | Binance Coin | 32,540,141,230 | -0.37% | 251,859,887 | 37.36% |
| 11/10/2023 00:00:00 | Bitcoin | 534,655,184,151 | -0.68% | 11,634,746,676 | -15.32% |
| 10/10/2023 00:00:00 | Bitcoin | 538,282,690,588 | -1.25% | 13,417,496,252 | 35.70% |
| 09/10/2023 00:00:00 | Bitcoin | 544,989,660,642 | -0.12% | 8,627,631,924 | 33.82% |
| 11/10/2023 00:00:00 | Ethereum | 188,564,548,368 | -0.77% | 8,466,032,719 | -27.89% |
| 10/10/2023 00:00:00 | Ethereum | 190,023,356,510 | -3.37% | 10,827,113,052 | 52.75% |
| 09/10/2023 00:00:00 | Ethereum | 196,420,396,271 | -0.07% | 5,115,302,161 | 24.11% |
| 11/10/2023 00:00:00 | Tether | 83,483,900,707 | -0.05% | 11,036,501,310 | -81.75% |
| 10/10/2023 00:00:00 | Tether | 83,524,066,604 | 0.01% | 20,058,533,111 | 61.05% |
| 09/10/2023 00:00:00 | Tether | 83,516,000,504 | -0.01% | 7,812,779,878 | -12.27% |
Cryptocurrency Exchanges Volume and Variation
Evaluating the ‘Exchanges’ table presents a scenario in which all exchanges show fluctuations in volume, with some experiencing positive variations and others negative. This mixed behavior suggests no decisive direction in the exchanges market segment.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 11/10/2023 00:00:00 | Binance | 196,687 | -8.87% |
| 10/10/2023 00:00:00 | Binance | 214,125 | 38.26% |
| 09/10/2023 00:00:00 | Binance | 132,195 | 15.31% |
| 11/10/2023 00:00:00 | Binance US | 226 | -35.12% |
| 10/10/2023 00:00:00 | Binance US | 306 | 47.17% |
| 09/10/2023 00:00:00 | Binance US | 162 | 21.82% |
| 11/10/2023 00:00:00 | Bitfinex | 3,373 | -91.53% |
| 10/10/2023 00:00:00 | Bitfinex | 6,461 | 81.13% |
| 09/10/2023 00:00:00 | Bitfinex | 1,219 | 3.49% |
| 11/10/2023 00:00:00 | Bybit | 34,960 | -23.07% |
| 10/10/2023 00:00:00 | Bybit | 43,026 | 55.69% |
| 09/10/2023 00:00:00 | Bybit | 19,063 | 28.21% |
| 11/10/2023 00:00:00 | Coinbase | 27,512 | -10.93% |
| 10/10/2023 00:00:00 | Coinbase | 30,518 | 58.14% |
| 09/10/2023 00:00:00 | Coinbase | 12,776 | 17.46% |
| 11/10/2023 00:00:00 | Crypto.com | 10,969 | -21.24% |
| 10/10/2023 00:00:00 | Crypto.com | 13,299 | 42.30% |
| 09/10/2023 00:00:00 | Crypto.com | 7,673 | 22.75% |
| 10/10/2023 00:00:00 | Gate.io | 22,310 | 43.42% |
| 09/10/2023 00:00:00 | Gate.io | 12,623 | 18.32% |
| 11/10/2023 00:00:00 | Kraken | 16,933 | -9.73% |
| 10/10/2023 00:00:00 | Kraken | 18,581 | 72.29% |
| 09/10/2023 00:00:00 | Kraken | 5,148 | 8.14% |
| 11/10/2023 00:00:00 | KuCoin | 7,177 | -36.34% |
| 10/10/2023 00:00:00 | KuCoin | 9,785 | 40.58% |
| 09/10/2023 00:00:00 | KuCoin | 5,815 | 0.97% |
| 10/10/2023 00:00:00 | OKX | 34,213 | 61.99% |
| 09/10/2023 00:00:00 | OKX | 13,006 | 9.53% |
Mining – Blockchain Technology
Observing the ‘Mining’ table presents a scenario of notable stability across Bitcoin chain metrics. All indicators—whether Difficulty, Blocks, or Reward BTC—show uniformity over time, implying no significant changes in the Bitcoin mining landscape.
| Item | 10/10/2023 | 09/10/2023 | 08/10/2023 | 07/10/2023 | 06/10/2023 | 05/10/2023 |
|---|---|---|---|---|---|---|
| Difficulty | 57.32T | 57.32T | 57.32T | 57.32T | 57.32T | 57.32T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 811.45K | 811.29K | 811.14K | 810.97K | 810.81K | 810.67K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Reward BTC | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 447.37B | 421.72B | 484.41B | 455.91B | 398.93B | 370.43B |
| Hash Rate GB Variation | 5.73% | -14.86% | 5.88% | 12.50% | 7.14% | -26.15% |
Conclusion
The combined data from multiple key indicators suggest that the cryptocurrency market is in a state of neutrality without strong biases towards a specific direction. This state can be observed from the the mixed sentiments from the ‘Fear and Greed Indicators’, the fluctuations in cryptocurrency values, and the consistent behavior in Bitcoin addresses.
However, due caution should be exercised, given the volatility that characterizes the cryptocurrency market. Future market movements will depend on several factors, including varying investor attitudes reflect on the ‘Fear and Greed Indicators’, unfolding market events that can potentially drive different effects on different types of cryptocurrencies, and the dynamic nature of crypto exchanges that can create fluctuations.
So What
Given the current state of neutrality in the market, no significant investment opportunities seem glaringly appealing under current conditions. The lack of a clear market direction suggests that the market may continue in this state for a while. As such, investors might need to adopt a wait-and-see approach, focused on maintaining their current positions rather than making aggressive moves.
What next?
As the market balances between fear and greed according to the `Fear and Greed Indicators`, the next direction the market will swing towards would be dependent on imminent economic events, particularly those listed as ‘high impact’. The slightest shift in market sentiment can set off a ripple effect, propelling the market out of its current state of neutrality.
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.
