πŸ“ƒ Dec 02, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

Over the past 24 hours, the cryptocurrency market has shown a neutral to trending up trend. Bitcoin, the leading cryptocurrency, has experienced upward movements and is approaching the $100,000 mark. Ethereum has also displayed stability, while altcoins like XRP and Dogecoin have seen positive sentiment and a surge in market capitalization. The positive sentiment surrounding cryptocurrencies is fueled by optimism over pro-crypto policies and the potential for a final flourish in 2024. Analysts predict that cryptocurrencies could experience substantial growth if Bitcoin and Ethereum reach new all-time highs before 2025. Furthermore, the inflow of $333 million into Ethereum ETFs has outpaced Bitcoin funds, indicating growing interest in the altcoin.

However, it’s important to approach this trend with caution. While positive news dominates the market, there are still concerns regarding regulatory challenges and hidden wars on crypto. Ripple’s legal chief has exposed the hidden war on crypto by US regulators, highlighting the need for continued vigilance in the industry. Additionally, factors such as cryptocurrency market corrections and the evolving landscape of blockchain projects, like Diem and MetaΒ΄s Libra, should be closely monitored.

Overall, the cryptocurrency market is showing positive signs, but investors should remain cautious and stay informed about any regulatory developments and potential market fluctuations.

What is important

The key points to understand in the current state of the cryptocurrency market are as follows:

1. Positive sentiment: Many major cryptocurrencies, including Bitcoin, Ethereum, and XRP, have displayed positive sentiment in the market.

2. Optimism over pro-crypto policies: Ripple’s initiatives and pro-crypto policies fuel optimism in the market, contributing to the upward trend.

3. Potential final flourish in 2024: Traders and analysts are preparing for a potential final flourish in 2024, with speculation on whether Bitcoin will reach $100,000 in December.

4. Altcoin surge: Altcoins such as XRP and Dogecoin have seen significant increases in market capitalization, outperforming Bitcoin in certain scenarios.

5. Regulatory challenges: Despite positive developments, regulatory challenges and hidden wars on crypto have been exposed and must be considered.

6. Market corrections: While the overall trend is positive, market corrections and fluctuations can still occur, requiring careful attention to price movements and market sentiment.

Top 5 – Latest Headlines & Cryptocurrency News

πŸ‘ XRP Becomes 4th Largest Cryptocurrency as Ripple Fuels Optimism Over Pro-Crypto Policies
– XRP becomes the 4th largest cryptocurrency as Ripple fuels optimism over pro-crypto policies.

πŸ‘ Bitcoin, Dogecoin Move Up, Ethereum Steadies As Traders Prepare For Crypto’s Final 2024 Flourish – Will BTC Hit $100K In December? Analyst Explains
– Bitcoin, Dogecoin, and Ethereum are experiencing upward movements in the cryptocurrency market. Traders are preparing for a potential final flourish in 2024, with speculation on whether Bitcoin will reach $100k in December.

πŸ‘ Dogecoin Bullish Takeover: DOGE To Outperform Bitcoin By 2,400% – Here’s How
– Dogecoin is predicted to outperform Bitcoin by 2400%, according to a bullish takeover analysis.

πŸ‘ Spot Ethereum ETFs Surpass Single-Day Record With $333 Million Inflow – Details
– Ethereum ETFs set a new record with $333 million in a single day.

πŸ‘ Ethereum ETFs See Record $333M Inflows, Outpacing Bitcoin Funds as Catch-Up Trade Gains Momentum
– Ethereum ETFs have seen a record $333 million in inflows, surpassing Bitcoin funds, as the catch-up trade gains momentum.

Factors DrivingΒ the Growth – Market Sentiment

The most mentioned positive sentiment keywords in the news in the last 24 hours include Bitcoin, XRP, Ethereum, Dogecoin, and the cryptocurrency market. These keywords point to the positive performance and developments in the crypto space, with Bitcoin approaching the $100,000 mark and altcoins gaining traction. Additionally, market sentiment is fueled by optimism over pro-crypto policies and the potential for substantial growth if Bitcoin and Ethereum reach new all-time highs before 2025.

On the other hand, some negative sentiment keywords mentioned in the news include DMM Bitcoin, regulatory challenges, crypto hacks, and hidden wars on crypto by US regulators. These reflect potential risks and challenges that need to be considered in the cryptocurrency market.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
26bitcoin
18xrp
14ethereum
13dogecoin
7cryptocurrency market
7solana
6cryptocurrencies
6shiba inu
5market cap
4$100k

Negative Terms – Sentiment Analysis

OccurrencesKeyword
5bitcoin
4dmm bitcoin
3cryptocurrencies
3cryptocurrency market
3robert kiyosaki
2bitcoin crash
2crypto hacks
2cryptocurrency exchange
2diem blockchain project
2meta’s libra

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators show that the market sentiment is currently leaning towards greed. The indicators for Bitcoin Fear and Greed, as well as the alternative sources such as Binance.com, BitDegree.org, and Coinstats.app, demonstrate values above 50, indicating a certain degree of greed in the market. While extreme greed is not observed, it’s important to monitor market trends and investor sentiment to ensure informed decision-making.

DateValueVariationSource
2024-12-02 00:00:0080pt-1ptAlternative.me
2024-12-02 00:00:0081pt0ptAlternative.me
2024-12-01 00:00:0081pt-3ptAlternative.me
2024-12-01 00:00:0084pt0ptAlternative.me
2024-11-30 00:00:0084pt0ptAlternative.me
2024-12-02 00:00:0080pt-1ptBinance.com
2024-12-02 00:00:0081pt0ptBinance.com
2024-12-01 00:00:0081pt-3ptBinance.com
2024-12-01 00:00:0084pt0ptBinance.com
2024-11-30 00:00:0084pt0ptBinance.com
2024-12-02 00:00:0081pt-3ptBitDegree.org
2024-12-01 00:00:0084pt0ptBitDegree.org
2024-11-30 00:00:0084pt0ptBitDegree.org
2024-12-02 00:00:0062pt-3ptBtcTools.io
2024-12-01 16:00:0065pt2ptBtcTools.io
2024-12-01 00:00:0063pt-1ptBtcTools.io
2024-11-30 16:00:0064pt2ptBtcTools.io
2024-11-30 08:00:0062pt-3ptBtcTools.io
2024-11-30 00:00:0065pt-4ptBtcTools.io
2024-11-29 16:00:0069pt0ptBtcTools.io
2024-12-02 00:00:0083pt0ptCoinstats.app
2024-12-01 00:00:0083pt-1ptCoinstats.app
2024-12-01 00:00:0084pt0ptCoinstats.app
2024-11-30 00:00:0084pt0ptCoinstats.app

Bitcoin: Active Addresses

The Bitcoin Address Indicators table provides insights into the active addresses and quantities of wallet addresses based on balance values. The data shows that the total number of addresses has remained relatively stable over the analyzed period, indicating a consistent level of user activity. Additionally, the analysis of addresses with different balance thresholds, such as addresses with over 0.0000001, 0.000001, 0.00001, 0.001, 0.01, 0.1, and 1 BTC, reflects a diverse distribution of holdings and activity among Bitcoin users.

DateAddressesVariationIndicatorSource
2024-12-02 00:00:001,348,865,4160.00%Total Addressesbitaps.com
2024-12-02 00:00:001,296,078,9290.00%Zero Balance Addressesbitaps.com
2024-12-02 00:00:00718,4511.61%Bitcoin Active Addressesbtc.com
2024-12-02 00:00:00540,5410.00%Addresses with over 0bitaps.com
2024-12-02 00:00:00219,2280.00%Addresses with over 0.0000001bitaps.com
2024-12-02 00:00:003,944,6000.00%Addresses with over 0.000001bitaps.com
2024-12-02 00:00:0010,747,1020.01%Addresses with over 0.00001bitaps.com
2024-12-02 00:00:0013,163,1270.06%Addresses with over 0.0001bitaps.com
2024-12-02 00:00:0011,646,4020.05%Addresses with over 0.001bitaps.com
2024-12-02 00:00:008,028,9560.03%Addresses with over 0.01bitaps.com
2024-12-02 00:00:003,500,1630.01%Addresses with over 0.1bitaps.com
2024-12-02 00:00:00844,8450.00%Addresses with over 1bitaps.com
2024-12-02 00:00:00134,738-0.02%Addresses with over 10bitaps.com
2024-12-02 00:00:0014,7040.03%Addresses with over 100bitaps.com
2024-12-02 00:00:001,984-0.05%Addresses with over 1,000bitaps.com
2024-12-02 00:00:00930.00%Addresses with over 10,000bitaps.com
2024-12-02 00:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The Economic Events table highlights key events in the global financial market. Notable events include JOLTS Job Openings, Motor Vehicle Sales, and various PMI (Purchasing Managers’ Index) reports. These events provide insights into employment trends, consumer spending, and manufacturing activities, which can impact the overall market sentiment and the cryptocurrency market indirectly. Traders and investors should stay informed about these events to gain a comprehensive understanding of the broader economic landscape.

DateImpactEvent
2024-12-03 15:00:00ModerateJOLTS Job Openings
2024-12-03 00:00:00ModerateMotor Vehicle Sales Total Vehicle Sales – Annual Rate
2024-12-03 00:00:00ModerateMotor Vehicle Sales North American-Made Sales – Annual Rate
2024-12-02 21:30:00ModerateUSD – FOMC Member Williams Speaks
2024-12-02 20:30:00ModerateEUR – CFTC EUR speculative net positions
2024-12-02 20:30:00ModerateJPY – CFTC JPY speculative net positions
2024-12-02 20:30:00ModerateBRL – CFTC BRL speculative net positions
2024-12-02 20:30:00ModerateAUD – CFTC AUD speculative net positions
2024-12-02 20:30:00ModerateUSD – CFTC S&P 500 speculative net positions
2024-12-02 20:30:00ModerateUSD – CFTC Nasdaq 100 speculative net positions
2024-12-02 20:30:00ModerateUSD – CFTC Gold speculative net positions
2024-12-02 20:30:00ModerateUSD – CFTC Crude Oil speculative net positions
2024-12-02 20:30:00ModerateGBP – CFTC GBP speculative net positions
2024-12-02 20:15:00ModerateUSD – Fed Waller Speaks
2024-12-02 15:00:00HighISM Manufacturing Index Index
2024-12-02 15:00:00ModerateConstruction Spending Year over Year
2024-12-02 15:00:00ModerateConstruction Spending Month over Month
2024-12-02 15:00:00HighUSD – ISM Manufacturing Prices (Nov)
2024-12-02 15:00:00HighUSD – ISM Manufacturing PMI (Nov)
2024-12-02 15:00:00ModerateUSD – ISM Manufacturing Employment (Nov)
2024-12-02 15:00:00ModerateUSD – Construction Spending (MoM) (Oct)
2024-12-02 14:45:00HighUSD – S&P Global US Manufacturing PMI (Nov)
2024-12-02 10:00:00ModerateEUR – Unemployment Rate (Oct)
2024-12-02 10:00:00ModerateEUR – ECB President Lagarde Speaks
2024-12-02 09:30:00ModerateGBP – S&P Global/CIPS UK Manufacturing PMI (Nov)
2024-12-02 09:00:00ModerateEUR – HCOB Eurozone Manufacturing PMI (Nov)
2024-12-02 08:55:00ModerateEUR – HCOB Germany Manufacturing PMI (Nov)
2024-12-02 08:50:00ModerateEUR – HCOB France Manufacturing PMI (Nov)
2024-12-02 08:45:00ModerateEUR – HCOB Italy Manufacturing PMI (Nov)
2024-12-02 08:30:00ModerateCHF – procure.ch PMI (Nov)
2024-12-02 08:15:00ModerateEUR – HCOB Spain Manufacturing PMI (Nov)
2024-12-02 07:00:00ModerateGBP – Nationwide HPI (MoM) (Nov)
2024-12-02 07:00:00ModerateGBP – Nationwide HPI (YoY) (Nov)
2024-12-02 01:45:00ModerateCNY – Caixin Manufacturing PMI (Nov)
2024-12-02 01:30:00ModerateAUD – Retail Sales (MoM) (Oct)
2024-12-02 00:30:00ModerateAUD – Retail Sales (MoM) (Oct)
2024-12-02 00:30:00ModerateAUD – Company Gross Operating Profits (QoQ) (Q3)
2024-12-02 00:30:00ModerateAUD – Building Approvals (MoM) (Oct)
2024-12-01 23:50:00ModerateJPY – Capital Spending (YoY) (Q3)
2024-12-01 10:00:00ModerateUSD – OPEC Meeting

Crypto Assets Prices

The Prices table showcases the recent price variations and volatility of major cryptocurrencies. Bitcoin, Ethereum, XRP, and other cryptocurrencies have experienced some price fluctuations over the past 24 hours. While Bitcoin and Ethereum have shown stability with slight price variations, XRP has seen more significant price movements and a surge in market capitalization. These price trends indicate the potential for positive growth and increased investor interest in the cryptocurrency market.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-12-01 08:00:00Bitcoin96,472.97-0.32%-0.50-1.33%1.43-1.44%
2024-11-30 08:00:00Bitcoin96,783.381.20%0.840.66%2.870.52%
2024-12-02 08:00:00Ethereum3,666.88-0.97%-1.10-1.33%3.010.05%
2024-12-01 08:00:00Ethereum3,702.31-0.02%0.24-3.52%2.97-1.74%
2024-11-30 08:00:00Ethereum3,703.074.28%3.766.09%4.711.52%
2024-12-01 08:00:00Binance Coin651.00-3.38%-2.63-5.49%4.01-0.49%
2024-11-30 08:00:00Binance Coin673.013.47%2.863.66%4.511.39%

CryptocurrencyΒ Capitalization and Volume

The Market Capitalizations and Volumes table provides insights into the total market capitalization and trading volume of major cryptocurrencies. Bitcoin remains the largest cryptocurrency by market capitalization, followed by Ethereum and XRP. The data shows some variations in capitalization and trading volume over the analyzed period. The significant inflow of capital into Ethereum ETFs symbolizes growing interest in this altcoin. These market capitalization and trading volume dynamics reflect the overall market sentiment and investor confidence in cryptocurrencies.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-12-02 00:00:00Binance Coin95,616,764,5510.14%1,469,739,436-12.57%
2024-12-01 00:00:00Binance Coin95,486,293,285-0.01%1,681,007,5388.18%
2024-11-30 00:00:00Binance Coin95,500,304,6530.05%1,553,958,788-34.52%
2024-12-02 00:00:00Bitcoin1,924,596,637,0540.83%48,141,154,6219.14%
2024-12-01 00:00:00Bitcoin1,908,714,785,799-1.03%44,110,579,700-41.02%
2024-11-30 00:00:00Bitcoin1,928,512,641,7561.89%74,791,552,09827.82%
2024-12-02 00:00:00Ethereum446,540,073,485-0.01%29,414,830,497-8.84%
2024-12-01 00:00:00Ethereum446,594,239,5663.05%32,266,853,39812.08%
2024-11-30 00:00:00Ethereum433,361,301,6910.54%28,790,034,150-12.39%
2024-12-02 00:00:00Tether134,058,167,6100.04%93,634,786,14436.39%
2024-12-01 00:00:00Tether134,009,501,4320.34%68,652,871,256-22.81%
2024-11-30 00:00:00Tether133,558,624,6710.24%88,937,848,0710.02%

Cryptocurrency Exchanges Volume and Variation

The Exchanges table illustrates the trading volume variations of major exchanges in the cryptocurrency market. Binance, Binance US, Bitfinex, Bybit, Coinbase, Crypto.com, Gate.io, Kraken, KuCoin, and OKX are among the prominent exchanges analyzed. The data reveals varying trading volumes across exchanges, indicating the preferences of traders and investors. Binance stands out with the highest trading volume, while other exchanges show fluctuations in trading activity. Monitoring trading volumes on different exchanges can provide insights into market liquidity and trading patterns.

DateExchangeVolumeVariation
2024-12-02 00:00:00Binance298,4296.04%
2024-12-01 00:00:00Binance281,435-4.18%
2024-11-30 00:00:00Binance293,7074.49%
2024-12-02 00:00:00Binance US34322.06%
2024-12-01 00:00:00Binance US2817.66%
2024-11-30 00:00:00Binance US26156.29%
2024-12-02 00:00:00Bitfinex5,202-2.42%
2024-12-01 00:00:00Bitfinex5,33185.56%
2024-11-30 00:00:00Bitfinex2,873-23.45%
2024-12-02 00:00:00Bybit61,97812.10%
2024-12-01 00:00:00Bybit55,286-19.46%
2024-11-30 00:00:00Bybit68,642-0.01%
2024-12-02 00:00:00Coinbase51,30726.25%
2024-12-01 00:00:00Coinbase40,639-28.82%
2024-11-30 00:00:00Coinbase57,09140.24%
2024-12-02 00:00:00Crypto.com62,67619.19%
2024-12-01 00:00:00Crypto.com52,583-29.63%
2024-11-30 00:00:00Crypto.com74,720-2.71%
2024-12-02 00:00:00Gate.io59,29612.09%
2024-12-01 00:00:00Gate.io52,90118.83%
2024-11-30 00:00:00Gate.io44,52021.60%
2024-12-02 00:00:00Kraken16,00327.06%
2024-12-01 00:00:00Kraken12,595-33.08%
2024-11-30 00:00:00Kraken18,82250.68%
2024-12-02 00:00:00KuCoin17,55322.25%
2024-12-01 00:00:00KuCoin14,358-0.38%
2024-11-30 00:00:00KuCoin14,4136.71%
2024-12-02 00:00:00OKX50,6664.40%
2024-12-01 00:00:00OKX48,5310.84%
2024-11-30 00:00:00OKX48,1257.80%

Mining – Blockchain Technology

The Mining table showcases important mining metrics, including difficulty, mined blocks, block rewards, and hash rate. The difficulty level remains stable over the analyzed period, indicating a consistent mining environment. The number of mined blocks and block rewards also exhibit steady patterns. However, the hash rate, representing the computational mining capacity, shows some variations. It’s important to monitor these mining metrics as they contribute to the security and efficiency of the respective cryptocurrencies.

Item2024-12-022024-12-012024-11-302024-11-292024-11-282024-11-272024-11-26
Difficulty102.29T102.29T102.29T102.29T102.29T102.29T102.29T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks872.85K872.69K872.53K872.41K872.26K872.13K871.99K
Blocks Variation0.02%0.02%0.01%0.02%0.02%0.02%0.02%
Reward BTC3.133.133.133.133.133.133.13
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB804.63B819.64B610.18B727.37B676.93B701.80B859.74B
Hash Rate GB Variation-1.83%34.33%-16.11%7.45%-3.54%-18.37%23.29%

Conclusion

In conclusion, the cryptocurrency market is currently experiencing a neutral to trending up trend. Positive sentiment surrounds cryptocurrencies such as Bitcoin, Ethereum, and XRP, driven by multiple factors such as Bitcoin’s potential surge to $100,000, bullish predictions for altcoins like Dogecoin, and the inflow of capital into Ethereum ETFs. However, it is crucial to remain cautious as regulatory challenges and hidden wars on crypto continue to pose risks. Market corrections and evolving blockchain projects must also be closely monitored and analyzed. Overall, staying informed and observing market dynamics will be key for investors and traders to navigate the evolving cryptocurrency landscape.

So What

The current state of the cryptocurrency market holds practical implications for investors and traders. The positive sentiment and potential for substantial growth present opportunities for those seeking investment options. However, it is important to exercise caution, perform thorough research, and make informed decisions. Monitoring regulatory developments, market corrections, and the performance of specific cryptocurrencies will help manage risk and maximize potential returns.

What next?

Looking ahead, the cryptocurrency market is expected to continue its upward trend. However, potential risks and challenges, including regulatory uncertainties and hidden wars on crypto, should not be overlooked. Evaluating market sentiment, monitoring key cryptocurrencies, and keeping track of important market events will enable market participants to adapt their strategies and navigate potential shifts in the crypto landscape. It is crucial to stay informed about the latest developments and leverage comprehensive market analysis to make informed investment 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.

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