Crypto Market Analysis & Trend: Neutral/Trending Up
Over the past 24 hours, the cryptocurrency market has shown a neutral-to-trending up trend. Several factors contribute to this observation. Firstly, the prices of top cryptocurrencies such as Bitcoin and Ethereum have remained steady, with minor variations that indicate stability. Additionally, positive news surrounding the market, such as the predicted rally of Dogecoin and the performance of spot Ethereum ETFs, have contributed to overall positive sentiment. The buying activity of Ethereum whales further supports the positive outlook. Despite minor setbacks, such as liquidations in the market, the overall sentiment remains optimistic.
This analysis is based on up-to-date data from reliable sources and provides a confident outlook for the next 8 hours. However, it is important to monitor market developments for any potential shifts in trend.
What is important
The key points to understand the current state of the cryptocurrency market are:
1. The market is currently showing a neutral-to-trending up trend, indicating stability and positive sentiment.
2. Bitcoin and Ethereum, the two major cryptocurrencies, have experienced relatively steady prices with minor variations.
3. Positive news surrounding the market, such as the predicted rally of Dogecoin and the performance of spot Ethereum ETFs, have contributed to the overall positive sentiment.
4. The buying activity of Ethereum whales further supports the positive outlook.
5. It is essential to monitor market developments closely for any potential shifts in trend or significant news that may impact the market.
Top 5 – Latest Headlines & Cryptocurrency News
- Dogecoin to rally 7200%, reach $10? How this price prediction can come true!– Dogecoin is predicted to rally to $7,200 and reach $10 in price. This prediction can come true due to various factors.
- New Cryptocurrency $0.00107 Leverages Ethereum (ETH)´s Power: Can It Become a Top Crypto?– A new cryptocurrency leverages the power of Ethereum to become a top crypto.
- Ethereum whales buy ETH worth $440 mln – Preparing for a rally?– Ethereum whales are buying ETH worth $440 million, indicating preparation for a rally.
- Crypto liquidations alert! What´s next after major $170 mln wipeout– Over $170 million was wiped out in the cryptocurrency market, raising concerns about its future.
- Spot Ethereum ETFs See First Green Day Since Launch With $34 Million Inflow– The first green day for spot Ethereum ETFs since launch with $34 million inflow.
Factors Driving the Growth – Market Sentiment
Analyzing the provided data, we observe a mix of positive and negative sentiment keywords. The most mentioned positive keywords include ‘bitcoin,’ ‘cryptocurrency market,’ ‘ethereum,’ ‘coinbase,’ and ‘hong kong.’ On the other hand, negative sentiment keywords include ‘convergence,’ ‘losses,’ ‘price,’ ‘collapse,’ and ‘chainlink.’ It is important to consider the frequency and context of these keywords when evaluating market sentiment and making informed decisions.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 19 | bitcoin |
| 10 | cryptocurrency market |
| 7 | ethereum |
| 5 | coinbase |
| 5 | cryptocurrency |
| 5 | hong kong |
| 5 | ripple |
| 5 | solana |
| 5 | xrp ledger |
| 4 | analyst |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 16 | bitcoin |
| 3 | convergence |
| 3 | cryptocurrency market |
| 3 | losses |
| 3 | price |
| 2 | bitcoin miner riot |
| 2 | bitcoin price |
| 2 | bitcoin production |
| 2 | chainlink |
| 2 | collapse |
Crypto Investor Fear & Greed Index
The Fear and Greed Indicators table shows a range of fear and greed levels throughout the provided dataset. The indicators provide insights into the overall sentiment of the cryptocurrency market. Notably, the majority of the Fear and Greed Indicators fall within the fear and greed categories, indicating mixed sentiment. It is important to consider these indicators alongside other factors when analyzing the market.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-08-01 00:00:00 | 52pt | -9pt | Alternative.me |
| 2024-07-31 00:00:00 | 61pt | 0pt | Alternative.me |
| 2024-08-01 00:00:00 | 52pt | -9pt | Binance.com |
| 2024-08-01 00:00:00 | 61pt | -6pt | Binance.com |
| 2024-07-31 00:00:00 | 61pt | 0pt | Binance.com |
| 2024-07-31 00:00:00 | 67pt | 6pt | Binance.com |
| 2024-08-01 00:00:00 | 61pt | 0pt | BitDegree.org |
| 2024-07-31 00:00:00 | 61pt | 0pt | BitDegree.org |
| 2024-08-01 16:00:00 | 69pt | 1pt | BtcTools.io |
| 2024-08-01 08:00:00 | 68pt | 10pt | BtcTools.io |
| 2024-08-01 00:00:00 | 58pt | 1pt | BtcTools.io |
| 2024-07-31 16:00:00 | 57pt | -3pt | BtcTools.io |
| 2024-07-31 08:00:00 | 60pt | 5pt | BtcTools.io |
| 2024-07-31 00:00:00 | 55pt | 2pt | BtcTools.io |
| 2024-07-30 16:00:00 | 53pt | -1pt | BtcTools.io |
| 2024-07-30 08:00:00 | 54pt | 0pt | BtcTools.io |
| 2024-08-01 00:00:00 | 52pt | -9pt | Coinstats.app |
| 2024-07-31 00:00:00 | 61pt | 0pt | Coinstats.app |
Bitcoin: Active Addresses
The Bitcoin Address Indicators table provides information on the number of active addresses and quantities of wallet addresses based on balance values. The data suggests fluctuations in the number of active addresses and wallet addresses. It is essential to closely monitor these indicators to understand the user activity and engagement within the Bitcoin network.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-07-29 16:00:00 | 1,310,419,119 | 0.00% | Total Addresses | bitaps.com |
| 2024-07-29 16:00:00 | 716,147 | 3.56% | Bitcoin Active Addresses | btc.com |
| 2024-07-29 16:00:00 | 540,553 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-07-29 16:00:00 | 219,381 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-07-29 16:00:00 | 3,607,231 | 0.03% | Addresses with over 0.000001 | bitaps.com |
| 2024-07-29 16:00:00 | 10,496,632 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-07-29 16:00:00 | 13,196,035 | 0.01% | Addresses with over 0.0001 | bitaps.com |
| 2024-07-29 16:00:00 | 11,625,476 | -0.04% | Addresses with over 0.001 | bitaps.com |
| 2024-07-29 16:00:00 | 8,017,328 | -0.01% | Addresses with over 0.01 | bitaps.com |
| 2024-07-29 16:00:00 | 3,562,118 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-07-29 16:00:00 | 858,774 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-07-29 16:00:00 | 136,964 | 0.01% | Addresses with over 10 | bitaps.com |
| 2024-07-29 16:00:00 | 13,812 | 0.00% | Addresses with over 100 | bitaps.com |
| 2024-07-29 16:00:00 | 1,968 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-07-29 16:00:00 | 98 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-07-29 16:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The Economic Events table showcases important events related to the global financial market. These events cover various aspects, such as employment situations, manufacturing data, and central bank decisions. It is crucial to keep track of these events as they can significantly impact the cryptocurrency market, particularly in terms of market sentiment and investor confidence.
| Date | Impact | Event |
|---|---|---|
| 2024-08-02 14:00:00 | Moderate | Factory Orders Month over Month |
| 2024-08-02 12:30:00 | High | Employment Situation Private Payrolls – M/M |
| 2024-08-02 12:30:00 | High | Employment Situation Nonfarm Payrolls – M/M |
| 2024-08-02 12:30:00 | High | Employment Situation Average Hourly Earnings – Y/Y |
| 2024-08-02 12:30:00 | High | Employment Situation Unemployment Rate |
| 2024-08-02 12:30:00 | High | Employment Situation Manufacturing Payrolls – M/M |
| 2024-08-02 12:30:00 | High | Employment Situation Participation Rate |
| 2024-08-02 12:30:00 | High | Employment Situation Average Workweek |
| 2024-08-02 12:30:00 | High | Employment Situation Average Hourly Earnings – M/M |
| 2024-08-02 00:00:00 | Moderate | Motor Vehicle Sales Total Vehicle Sales – Annual Rate |
| 2024-08-02 00:00:00 | Moderate | Motor Vehicle Sales North American-Made Sales – Annual Rate |
| 2024-08-01 21:15:00 | Moderate | GBP – BoE MPC Member Pill Speaks |
| 2024-08-01 20:30:00 | Moderate | USD – Fed´s Balance Sheet |
| 2024-08-01 16:30:00 | Moderate | USD – Atlanta Fed GDPNow (Q3) |
| 2024-08-01 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-08-01 14:00:00 | High | USD – ISM Manufacturing Prices (Jul) |
| 2024-08-01 14:00:00 | High | USD – ISM Manufacturing PMI (Jul) |
| 2024-08-01 14:00:00 | Moderate | USD – ISM Manufacturing Employment (Jul) |
| 2024-08-01 14:00:00 | Moderate | USD – Construction Spending (MoM) (Jun) |
| 2024-08-01 14:00:00 | High | ISM Manufacturing Index Index |
| 2024-08-01 14:00:00 | Moderate | Construction Spending Month over Month |
| 2024-08-01 14:00:00 | Moderate | Construction Spending Year over Year |
| 2024-08-01 13:45:00 | High | USD – S&P Global US Manufacturing PMI (Jul) |
| 2024-08-01 13:15:00 | Moderate | GBP – BoE Gov Bailey Speaks |
| 2024-08-01 12:30:00 | Moderate | USD – Unit Labor Costs (QoQ) (Q2) |
| 2024-08-01 12:30:00 | Moderate | USD – Nonfarm Productivity (QoQ) (Q2) |
| 2024-08-01 12:30:00 | High | USD – Initial Jobless Claims |
| 2024-08-01 12:30:00 | Moderate | USD – Continuing Jobless Claims |
| 2024-08-01 12:30:00 | High | Jobless Claims Initial Claims – Change |
| 2024-08-01 12:30:00 | Moderate | Productivity and Costs Nonfarm Productivity – Annual Rate |
| 2024-08-01 12:30:00 | High | Jobless Claims 4-Week Moving Average |
| 2024-08-01 12:30:00 | Moderate | Productivity and Costs Unit Labor Costs – Annual Rate |
| 2024-08-01 12:30:00 | High | Jobless Claims Initial Claims – Level |
| 2024-08-01 12:00:00 | Moderate | GBP – BOE Inflation Letter |
| 2024-08-01 11:30:00 | Moderate | GBP – BoE Gov Bailey Speaks |
| 2024-08-01 11:00:00 | Moderate | GBP – BoE MPC Meeting Minutes |
| 2024-08-01 11:00:00 | High | GBP – BoE Interest Rate Decision (Aug) |
| 2024-08-01 11:00:00 | Moderate | GBP – BoE MPC vote unchanged (Aug) |
| 2024-08-01 11:00:00 | Moderate | GBP – BoE MPC vote hike (Aug) |
| 2024-08-01 11:00:00 | Moderate | GBP – BoE MPC vote cut (Aug) |
| 2024-08-01 09:00:00 | Moderate | EUR – Unemployment Rate (Jun) |
| 2024-08-01 08:30:00 | Moderate | GBP – S&P Global/CIPS UK Manufacturing PMI (Jul) |
| 2024-08-01 08:00:00 | Moderate | EUR – HCOB Eurozone Manufacturing PMI (Jul) |
| 2024-08-01 08:00:00 | Moderate | EUR – ECB Economic Bulletin |
| 2024-08-01 07:55:00 | Moderate | EUR – HCOB Germany Manufacturing PMI (Jul) |
| 2024-08-01 07:50:00 | Moderate | EUR – HCOB France Manufacturing PMI (Jul) |
| 2024-08-01 07:45:00 | Moderate | EUR – HCOB Italy Manufacturing PMI (Jul) |
| 2024-08-01 07:15:00 | Moderate | EUR – HCOB Spain Manufacturing PMI (Jul) |
| 2024-08-01 06:00:00 | Moderate | GBP – Nationwide HPI (YoY) (Jul) |
| 2024-08-01 06:00:00 | Moderate | GBP – Nationwide HPI (MoM) (Jul) |
| 2024-08-01 01:45:00 | Moderate | CNY – Caixin Manufacturing PMI (Jul) |
| 2024-08-01 01:30:00 | Moderate | AUD – Trade Balance (Jun) |
Crypto Assets Prices
The Prices table presents the current prices, price variations, 24-hour variations, and 24-hour volatilities of major cryptocurrencies. The data shows relatively stable prices with minor variations in the past 24 hours. It is important to consider the context and potential catalysts behind these price movements to make informed decisions in the market.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-08-02 00:01:00 | Bitcoin | 65,399.99 | 1.17% | 1.17 | 3.74% | 5.39 | 1.80% |
| 2024-08-01 00:01:00 | Bitcoin | 64,634.01 | -2.45% | -2.58 | -1.99% | 3.59 | 0.99% |
| 2024-07-31 00:01:00 | Bitcoin | 66,218.97 | -0.93% | -0.59 | 2.15% | 2.60 | -2.90% |
| 2024-08-02 00:01:00 | Ethereum | 3,204.39 | -0.86% | -0.95 | 0.62% | 5.18 | 0.94% |
| 2024-08-01 00:01:00 | Ethereum | 3,231.92 | -1.47% | -1.56 | -0.10% | 4.24 | 0.12% |
| 2024-07-31 00:01:00 | Ethereum | 3,279.55 | -1.22% | -1.46 | -2.47% | 4.12 | -0.14% |
| 2024-08-02 00:01:00 | Binance Coin | 575.90 | -0.12% | -0.14 | 1.30% | 4.33 | 1.17% |
| 2024-08-01 00:01:00 | Binance Coin | 576.60 | -2.06% | -1.44 | -4.27% | 3.17 | -0.53% |
| 2024-07-31 00:01:00 | Binance Coin | 588.50 | 2.38% | 2.83 | 4.88% | 3.70 | -0.81% |
Cryptocurrency Capitalization and Volume
The Market Capitalizations and Volumes table provides insights into the total market capitalization and volume of major cryptocurrencies. The data indicates fluctuations in both market capitalization and volume, with variations observed in different cryptocurrencies. Monitoring these figures is essential to understand the overall liquidity and market activity.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-08-01 00:00:00 | Binance Coin | 84,043,227,846 | -1.67% | 843,920,515 | 4.02% |
| 2024-07-31 00:00:00 | Binance Coin | 85,470,855,220 | 1.94% | 811,283,571 | -13.38% |
| 2024-08-01 00:00:00 | Bitcoin | 1,275,708,815,522 | -2.38% | 31,643,386,035 | 1.67% |
| 2024-07-31 00:00:00 | Bitcoin | 1,306,758,338,818 | -0.82% | 31,124,249,167 | -26.51% |
| 2024-08-01 00:00:00 | Ethereum | 388,335,521,376 | -1.42% | 16,058,712,335 | 16.39% |
| 2024-07-31 00:00:00 | Ethereum | 393,942,961,781 | -1.33% | 13,797,921,737 | -25.22% |
| 2024-08-01 00:00:00 | Tether | 114,419,785,524 | -0.01% | 44,700,696,149 | 5.37% |
| 2024-07-31 00:00:00 | Tether | 114,429,758,403 | 0.01% | 42,421,089,342 | -26.62% |
Cryptocurrency Exchanges Volume and Variation
The Exchanges table highlights the total volume and variations of major exchanges in the cryptocurrency market. The data shows fluctuations in trading volume across different exchanges, indicating varying levels of market activity and investor interest. Keeping track of these volumes can provide insights into the overall market sentiment and preference of traders.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-08-01 00:00:00 | Binance | 201,921 | 19.57% |
| 2024-07-31 00:00:00 | Binance | 168,866 | -22.34% |
| 2024-08-01 00:00:00 | Binance US | 128 | 6.67% |
| 2024-07-31 00:00:00 | Binance US | 120 | -46.19% |
| 2024-08-01 00:00:00 | Bitfinex | 1,603 | 9.05% |
| 2024-07-31 00:00:00 | Bitfinex | 1,470 | -40.89% |
| 2024-08-01 00:00:00 | Bybit | 67,157 | 12.63% |
| 2024-07-31 00:00:00 | Bybit | 59,625 | -16.37% |
| 2024-08-01 00:00:00 | Coinbase | 28,898 | 4.36% |
| 2024-07-31 00:00:00 | Coinbase | 27,691 | -30.14% |
| 2024-08-01 00:00:00 | Crypto.com | 42,118 | 2.62% |
| 2024-07-31 00:00:00 | Crypto.com | 41,043 | -8.28% |
| 2024-08-01 00:00:00 | Gate.io | 18,954 | 27.69% |
| 2024-07-31 00:00:00 | Gate.io | 14,844 | -23.38% |
| 2024-08-01 00:00:00 | Kraken | 10,404 | 15.02% |
| 2024-07-31 00:00:00 | Kraken | 9,045 | -29.97% |
| 2024-08-01 00:00:00 | KuCoin | 11,883 | 14.15% |
| 2024-07-31 00:00:00 | KuCoin | 10,410 | -9.86% |
| 2024-08-01 00:00:00 | OKX | 26,452 | 6.19% |
| 2024-07-31 00:00:00 | OKX | 24,910 | -36.85% |
Mining – Blockchain Technology
The Mining table offers insights into mining difficulty, mined blocks, block rewards, and hash rate in the cryptocurrency market. The data showcases fluctuations in mining difficulty, block rewards, and hash rate, indicating the computational mining capacity. Understanding these trends is crucial as they directly impact the supply and security of cryptocurrencies.
| Item | 2024-08-01 | 2024-07-31 | 2024-07-30 | 2024-07-29 | 2024-07-28 | 2024-07-27 |
|---|---|---|---|---|---|---|
| Difficulty | 90.67T | 82.05T | 82.05T | 82.05T | 82.05T | 82.05T |
| Difficulty Variation | 10.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 854.87K | 854.73K | 854.58K | 854.40K | 854.26K | 854.10K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Reward BTC | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 640.48B | 608.62B | 726.58B | 600.33B | 628.15B | 640.71B |
| Hash Rate GB Variation | 5.23% | -16.23% | 21.03% | -4.43% | -1.96% | -3.64% |
Conclusion
In conclusion, the cryptocurrency market has shown a neutral-to-trending up trend over the past 24 hours. Stable prices, positive news, and buying activity by Ethereum whales have contributed to the overall positive sentiment. Though some setbacks and fluctuations have been observed, the market remains resilient. It is important to closely monitor market developments and upcoming events that may impact the market sentiment and prices.
So What
The current state of the cryptocurrency market holds both opportunities and potential risks. Investors and traders should make informed decisions based on a thorough analysis of market trends, price movements, and external factors. It is crucial to consider the dynamics of specific cryptocurrencies, as well as broader market sentiment, before taking any significant actions.
What next?
Moving forward, it is important to closely monitor key indicators such as market sentiment, price variations, and trading volumes. Paying attention to significant news events, economic indicators, and regulatory developments is also necessary. By staying informed and adapting to the evolving market conditions, market participants can position themselves strategically and make informed decisions.
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.
