πŸ“ƒ Dec 08, 2023 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

The cryptocurrency market is currently exhibiting a neutral to trending up trend, with some positive momentum in key areas. However, caution is advised as volatility and market dynamics can change rapidly. The following analysis for the next 8 hours is supported by recent data and provides a confident outlook for the mentioned factors.

What is important

Several factors are essential to understanding the current state of the cryptocurrency market. These include positive and negative sentiment keywords, fear and greed indicators, bitcoin address indicators, economic events, prices, market capitalizations and volumes, exchanges, and mining data. These factors provide insights into market sentiment, investor behavior, price movements, and the overall health of the market.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Price Explosion, Solana (SOL) Volatility, Ripple (XRP) Targets: Bits Recap Dec 7– Bitcoin price explodes, Solana volatility, Ripple targets
  2. SOLΒ΄s Phenomenal 145% Rally: A Deep Dive into SolanaΒ΄s Price Ascent– SolanaΒ΄s price has seen a remarkable rally, increasing by 145%.
  3. MicroStrategy Stockpiles More Bitcoin Ahead of 2024 Rally, How High Will Prices Go?– MicroStrategy stockpiles more Bitcoin ahead of 2024 rally. Prices expected to rise.
  4. Legendary Trader John Bollinger Throws Cold Water on Bullish Bitcoin (BTC) Price Analysis– Famous trader John Bollinger dismisses bullish Bitcoin price analysis.
  5. Bulls Prepare War Rally As XRP Price Eyes $1 This December!– Bulls are preparing for a rally as XRP price targets $1 in December.

Factors DrivingΒ the Growth – Market Sentiment

The analysis of positive and negative sentiment keywords reveals the prevalent sentiments in recent news. Positive keywords like bitcoin, cryptocurrency market, and rally indicate growing interest and potential for price appreciation. Negative keywords such as Jamie Dimon, Poloniex, and guilty plea highlight specific concerns within the market. It is important to consider these sentiments as they can impact investor sentiment and market dynamics.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
79bitcoin
43cryptocurrency market
32binance
23robinhood
20shiba inu
19ethereum
19price
17cryptocurrencies
17cryptocurrency
17rally

Negative Terms – Sentiment Analysis

OccurrencesKeyword
15bitcoin
15jamie dimon
12binance
8poloniex
7bitzlato
6coinbase
6guilty plea
5ark invest
5cryptocurrency
5cryptocurrency market

Crypto Investor Fear & Greed Index

The fear and greed indicators provide insights into market sentiment and investor behavior. The recent data suggests a relatively neutral sentiment, with fear and greed indicators fluctuating within a moderate range. This indicates a balanced market sentiment with no extreme fear or greed present. It is important to monitor these indicators as shifts in sentiment can influence market dynamics and investment decisions.

DateValueVariationSource
2023-12-08 00:00:0072pt0ptAlternative.me
2023-12-07 00:00:0072pt0ptAlternative.me
2023-12-06 00:00:0072pt-3ptAlternative.me
2023-12-06 00:00:0075pt0ptAlternative.me
2023-12-08 00:00:0072pt0ptBitDegree.org
2023-12-07 00:00:0072pt0ptBitDegree.org
2023-12-06 13:00:0072pt-3ptBitDegree.org
2023-12-06 00:00:0075pt0ptBitDegree.org
2023-12-08 00:00:0075pt-1ptBtcTools.io
2023-12-07 16:00:0076pt-2ptBtcTools.io
2023-12-07 08:00:0078pt1ptBtcTools.io
2023-12-07 00:00:0077pt0ptBtcTools.io
2023-12-06 16:00:0077pt-10ptBtcTools.io
2023-12-06 08:00:0087pt-4ptBtcTools.io
2023-12-06 00:00:0091pt0ptBtcTools.io
2023-12-05 16:00:0091pt0ptBtcTools.io
2023-12-08 00:00:0072pt0ptCoinstats.app
2023-12-07 00:00:0072pt0ptCoinstats.app
2023-12-06 00:00:0072pt0ptCoinstats.app

Bitcoin: Active Addresses

The analysis of bitcoin address indicators provides insights into the number of active addresses and the distribution of wallet balances. The recent data suggests a relatively stable number of total addresses and addresses with non-zero balances. This indicates consistent activity and potential participation in the bitcoin network. However, variations in the number of zero balance addresses and active addresses should be monitored closely as they reflect changes in investor behavior and overall network usage.

DateAddressesVariationIndicatorSource
2023-12-08 00:00:001,210,733,5650.00%Total Addressesbitaps.com
2023-12-08 00:00:001,162,123,5640.00%Zero Balance Addressesbitaps.com
2023-12-08 00:00:00908,435-4.73%Bitcoin Active Addressesbtc.com
2023-12-08 00:00:00540,5080.00%Addresses with over 0bitaps.com
2023-12-08 00:00:00219,6260.00%Addresses with over 0.0000001bitaps.com
2023-12-08 00:00:002,724,3550.00%Addresses with over 0.000001bitaps.com
2023-12-08 00:00:009,310,4710.00%Addresses with over 0.00001bitaps.com
2023-12-08 00:00:0012,164,3690.00%Addresses with over 0.0001bitaps.com
2023-12-08 00:00:0011,375,8870.00%Addresses with over 0.001bitaps.com
2023-12-08 00:00:007,782,0260.00%Addresses with over 0.01bitaps.com
2023-12-08 00:00:003,475,8370.00%Addresses with over 0.1bitaps.com
2023-12-08 00:00:00860,9720.00%Addresses with over 1bitaps.com
2023-12-08 00:00:00139,9660.00%Addresses with over 10bitaps.com
2023-12-08 00:00:0013,9600.00%Addresses with over 100bitaps.com
2023-12-08 00:00:001,9140.00%Addresses with over 1,000bitaps.com
2023-12-08 00:00:001060.00%Addresses with over 10,000bitaps.com
2023-12-08 00:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The analysis of economic events reveals significant market-moving events and their potential impact on the cryptocurrency market. These events include reports on speculative positions, employment data, inflation expectations, and trade balances. It is important to closely monitor these events as they can have profound effects on market sentiment, price movements, and overall market stability.

DateImpactEvent
2023-12-08 20:30:00ModerateEUR – CFTC EUR speculative net positions
2023-12-08 20:30:00ModerateRUB – CFTC RUB speculative positions
2023-12-08 20:30:00ModerateJPY – CFTC JPY speculative net positions
2023-12-08 20:30:00ModerateBRL – CFTC BRL speculative net positions
2023-12-08 20:30:00ModerateAUD – CFTC AUD speculative net positions
2023-12-08 20:30:00ModerateUSD – CFTC S&P 500 speculative net positions
2023-12-08 20:30:00ModerateUSD – CFTC Nasdaq 100 speculative net positions
2023-12-08 20:30:00ModerateUSD – CFTC Gold speculative net positions
2023-12-08 20:30:00ModerateUSD – CFTC Crude Oil speculative net positions
2023-12-08 20:30:00ModerateGBP – CFTC GBP speculative net positions
2023-12-08 18:00:00ModerateUSD – U.S. Baker Hughes Total Rig Count
2023-12-08 18:00:00ModerateUSD – U.S. Baker Hughes Oil Rig Count
2023-12-08 17:00:00ModerateUSD – WASDE Report
2023-12-08 16:00:00ModerateRUB – CPI (YoY) (Nov)
2023-12-08 16:00:00ModerateRUB – CPI (MoM) (Nov)
2023-12-08 15:00:00ModerateUSD – Michigan Consumer Sentiment (Dec)
2023-12-08 15:00:00ModerateUSD – Michigan Consumer Expectations (Dec)
2023-12-08 15:00:00ModerateUSD – Michigan 5-Year Inflation Expectations (Dec)
2023-12-08 15:00:00ModerateUSD – Michigan 1-Year Inflation Expectations (Dec)
2023-12-08 15:00:00ModerateConsumer Sentiment Year-ahead Inflation Expectations
2023-12-08 15:00:00ModerateConsumer Sentiment Index
2023-12-08 13:30:00HighUSD – Unemployment Rate (Nov)
2023-12-08 13:30:00ModerateUSD – U6 Unemployment Rate (Nov)
2023-12-08 13:30:00ModerateUSD – Private Nonfarm Payrolls (Nov)
2023-12-08 13:30:00ModerateUSD – Participation Rate (Nov)
2023-12-08 13:30:00HighUSD – Nonfarm Payrolls (Nov)
2023-12-08 13:30:00HighUSD – Average Hourly Earnings (MoM) (Nov)
2023-12-08 13:30:00ModerateUSD – Average Hourly Earnings (YoY) (YoY) (Nov)
2023-12-08 13:30:00HighEmployment Situation Nonfarm Payrolls – M/M
2023-12-08 13:30:00HighEmployment Situation Unemployment Rate
2023-12-08 13:30:00HighEmployment Situation Private Payrolls – M/M
2023-12-08 13:30:00HighEmployment Situation Average Workweek
2023-12-08 13:30:00HighEmployment Situation Manufacturing Payrolls – M/M
2023-12-08 13:30:00HighEmployment Situation Participation Rate
2023-12-08 13:30:00HighEmployment Situation Average Hourly Earnings – Y/Y
2023-12-08 13:30:00HighEmployment Situation Average Hourly Earnings – M/M
2023-12-08 07:00:00HighEUR – German CPI (MoM) (Nov)
2023-12-08 07:00:00ModerateEUR – German CPI (YoY) (Nov)
2023-12-08 04:30:00ModerateINR – Interest Rate Decision
2023-12-07 23:50:00ModerateJPY – GDP Price Index (YoY) (Q3)
2023-12-07 23:50:00ModerateJPY – GDP (YoY) (Q3)
2023-12-07 23:50:00HighJPY – GDP (QoQ) (Q3)
2023-12-07 23:50:00ModerateJPY – Current Account n.s.a. (Oct)
2023-12-07 23:50:00ModerateJPY – Adjusted Current Account (Oct)
2023-12-07 23:30:00ModerateJPY – Household Spending (YoY) (Oct)
2023-12-07 23:30:00ModerateJPY – Household Spending (MoM) (Oct)
2023-12-07 21:30:00ModerateUSD – FedΒ΄s Balance Sheet
2023-12-07 20:00:00ModerateUSD – Consumer Credit (Oct)
2023-12-07 17:45:00ModerateUSD – Atlanta Fed GDPNow (Q4)
2023-12-07 17:40:00ModerateCAD – BoC Gov Macklem Speaks
2023-12-07 16:30:00ModerateUSD – Atlanta Fed GDPNow (Q4)
2023-12-07 15:30:00ModerateEIA Natural Gas Report Week over Week
2023-12-07 14:30:00ModerateEUR – ECBΒ΄s Elderson Speaks
2023-12-07 13:30:00ModerateCAD – Building Permits (MoM) (Oct)
2023-12-07 13:30:00HighUSD – Initial Jobless Claims
2023-12-07 13:30:00ModerateUSD – Continuing Jobless Claims
2023-12-07 13:30:00HighJobless Claims Initial Claims – Change
2023-12-07 13:30:00HighJobless Claims Initial Claims – Level
2023-12-07 13:30:00HighJobless Claims 4-Week Moving Average
2023-12-07 10:00:00ModerateGBP – Mortgage Rate (GBP) (Nov)
2023-12-07 10:00:00ModerateEUR – GDP (YoY)
2023-12-07 10:00:00ModerateEUR – GDP (QoQ) (Q3)
2023-12-07 10:00:00ModerateEUR – Eurogroup Meetings
2023-12-07 10:00:00ModerateGBP – Mortgage Rate (GBP)
2023-12-07 09:50:00ModerateEUR – Spanish 15-Year Obligacion Auction
2023-12-07 09:40:00ModerateEUR – Spanish 15-Year Obligacion Auction
2023-12-07 09:20:00ModerateEUR – German Buba Wuermeling Speaks
2023-12-07 07:00:00ModerateEUR – German Industrial Production (MoM) (Oct)
2023-12-07 07:00:00ModerateGBP – Halifax House Price Index (YoY) (Nov)
2023-12-07 07:00:00ModerateGBP – Halifax House Price Index (MoM) (Nov)
2023-12-07 03:00:00ModerateCNY – Trade Balance (USD) (Nov)
2023-12-07 03:00:00ModerateCNY – Imports (YoY) (Nov)
2023-12-07 03:00:00ModerateCNY – Exports (YoY) (Nov)
2023-12-07 00:30:00ModerateAUD – Trade Balance (Oct)
2023-12-07 00:30:00ModerateAUD – Building Approvals (MoM)

Crypto Assets Prices

The analysis of prices highlights the recent movements and volatility in major cryptocurrencies. Bitcoin, Ethereum, Binance Coin, and other coins have exhibited both positive and negative variations in prices. These fluctuations indicate the dynamic nature of the market and the potential for significant price movements. It is crucial to closely monitor these price changes as they can present opportunities for traders and investors.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2023-12-08 00:06:00Bitcoin43,369.71-0.95%-1.03-0.22%2.860.64%
2023-12-07 00:06:00Bitcoin43,780.00-0.73%-0.81-6.00%2.22-5.20%
2023-12-06 00:06:00Bitcoin44,098.145.17%5.191.18%7.421.80%
2023-12-08 00:06:00Ethereum2,358.875.18%5.248.42%7.243.11%
2023-12-07 00:06:00Ethereum2,236.60-2.71%-3.18-5.18%4.13-1.42%
2023-12-06 00:06:00Ethereum2,297.112.56%2.000.73%5.552.25%
2023-12-08 00:06:00Binance Coin233.401.46%1.172.25%2.850.13%
2023-12-07 00:06:00Binance Coin230.00-0.74%-1.080.12%2.71-0.36%
2023-12-06 00:06:00Binance Coin231.70-0.52%-1.19-2.76%3.07-2.53%

CryptocurrencyΒ Capitalization and Volume

The analysis of market capitalizations and volumes provides insights into the total market capitalization and trading volumes of major cryptocurrencies. Recent data indicates mixed trends, with some cryptocurrencies experiencing capitalization growth and volume fluctuations. These observations reflect changes in investor sentiment and trading activity. It is essential to consider these factors when assessing overall market health and potential investment opportunities.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2023-12-08 00:00:00Binance Coin35,826,530,0441.35%886,463,951-6.13%
2023-12-07 00:00:00Binance Coin35,348,544,243-0.60%944,400,3231.67%
2023-12-06 00:00:00Binance Coin35,561,320,497-0.96%928,908,433-60.08%
2023-12-08 00:00:00Bitcoin846,914,202,308-1.14%27,627,575,457-8.08%
2023-12-07 00:00:00Bitcoin856,674,319,165-0.68%30,055,447,036-20.27%
2023-12-06 00:00:00Bitcoin862,536,919,3735.02%37,697,033,053-10.63%
2023-12-08 00:00:00Ethereum283,368,828,7475.42%25,604,770,54620.09%
2023-12-07 00:00:00Ethereum268,795,534,917-2.50%21,321,479,386-25.48%
2023-12-06 00:00:00Ethereum275,689,075,4642.38%28,612,401,098-5.02%
2023-12-08 00:00:00Tether90,118,570,0920.19%48,227,215,225-8.74%
2023-12-07 00:00:00Tether89,947,739,515-0.01%52,847,031,358-6.62%
2023-12-06 00:00:00Tether89,954,651,8810.27%56,593,696,850-19.49%

Cryptocurrency Exchanges Volume and Variation

The analysis of exchanges sheds light on the trading volumes and performance of major cryptocurrency exchanges. Recent data suggests varying volumes and fluctuations in trading activities across different exchanges. This indicates the changing preferences of traders and potential market liquidity. Traders and investors should closely monitor these exchanges for optimal trading opportunities and market insights.

DateExchangeVolumeVariation
2023-12-08 00:00:00Binance347,308-14.41%
2023-12-07 00:00:00Binance405,7996.29%
2023-12-06 00:00:00Binance381,768-13.26%
2023-12-08 00:00:00Binance US614-15.66%
2023-12-07 00:00:00Binance US728-5.33%
2023-12-06 00:00:00Binance US769-10.37%
2023-12-08 00:00:00Bitfinex7,891-28.87%
2023-12-07 00:00:00Bitfinex11,0940.39%
2023-12-06 00:00:00Bitfinex11,05127.18%
2023-12-08 00:00:00Bybit82,2556.35%
2023-12-07 00:00:00Bybit77,345-3.64%
2023-12-06 00:00:00Bybit80,269-5.47%
2023-12-08 00:00:00Coinbase54,807-6.27%
2023-12-07 00:00:00Coinbase58,472-8.69%
2023-12-06 00:00:00Coinbase64,036-4.98%
2023-12-08 00:00:00Crypto.com23,790-15.01%
2023-12-07 00:00:00Crypto.com27,992-5.35%
2023-12-06 00:00:00Crypto.com29,575-0.91%
2023-12-08 00:00:00Gate.io35,148-20.38%
2023-12-07 00:00:00Gate.io44,146-1.35%
2023-12-06 00:00:00Gate.io44,752-75.75%
2023-12-08 00:00:00Kraken22,810-5.69%
2023-12-07 00:00:00Kraken24,185-12.79%
2023-12-06 00:00:00Kraken27,733-23.12%
2023-12-08 00:00:00KuCoin22,861-10.69%
2023-12-07 00:00:00KuCoin25,596-5.92%
2023-12-06 00:00:00KuCoin27,208-12.54%
2023-12-08 00:00:00OKX71,933-21.65%
2023-12-07 00:00:00OKX91,8100.58%
2023-12-06 00:00:00OKX91,281-10.79%

Mining – Blockchain Technology

The analysis of mining indicators, including difficulty, mined blocks, rewards, and hash rate, provides insights into the computational mining capacity and network health. Recent data suggests stable difficulty levels, block mining activity, and hash rate fluctuations. While these indicators indicate a healthy and robust network, changes in mining dynamics should be closely monitored as they can affect network security and block rewards.

Item2023-12-082023-12-072023-12-062023-12-052023-12-042023-12-032023-12-02
Difficulty67.96T67.96T67.96T67.96T67.96T67.96T67.96T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks820.19K820.08K819.94K819.80K819.65K819.48K819.36K
Blocks Variation0.01%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 GB388.49B459.44B462.81B523.62B557.40B425.65B567.54B
Hash Rate GB Variation-15.44%-0.73%-11.61%-6.06%30.95%-25.00%27.27%

Conclusion

In conclusion, the cryptocurrency market is currently exhibiting a neutral to trending up trend, with positive sentiment keywords, stable fear and greed indicators, and consistent bitcoin address indicators. Economic events and prices are influencing market dynamics, while market capitalizations and volumes reflect changing investor sentiment. Exchanges and mining indicators highlight trading activities and network health. However, it is important to remain cautious and closely monitor these indicators as the market can be highly volatile.

So What

The current state of the cryptocurrency market has practical implications for traders, investors, and enthusiasts. It presents opportunities for potential gains or losses, depending on individual strategies and risk tolerance. Traders can leverage the volatility and price movements for short-term gains, while long-term investors should focus on fundamental analysis and market trends. It is crucial to stay informed, perform thorough research, and adopt prudent risk management practices.

What next?

Looking ahead, the cryptocurrency market is expected to continue experiencing volatility and dynamic price movements. Factors such as economic events, regulatory developments, and market sentiment will shape the future landscape. It is essential to remain vigilant, adapt to changing market conditions, and carefully assess investment opportunities. Regularly monitoring news, updates, and industry analysis will provide valuable insights into the future trajectory of the cryptocurrency market.

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.

Get Your Daily Crypto Trends

Subscribe to CryptoTrends.news and recieve notifications on new crypto market posts.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.