πŸ“ƒ Dec 18, 2024 – ASIA 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 has reached a new record high, surpassing $107k, fueled by hopes of a strategic reserve. Ethereum has reclaimed the $4,000 mark, showing positive signs for a potential new all-time high. Ripple’s stablecoin RLUSD has been launched on various exchanges, bringing new rewards to the XRP community. MicroStrategy continues to raise the stakes, acquiring an additional $1.5 billion in Bitcoin, indicating a positive market outlook. The overall market sentiment remains optimistic as cryptocurrencies continue to gain mainstream recognition and institutional investment. While there have been brief moments of price volatility and minor corrections, the general upward trajectory suggests a positive trend in the near term.

The evidence supporting this analysis includes the significant milestones achieved by major cryptocurrencies, such as Bitcoin’s new record high and the steady growth of Ethereum. Additionally, the increasing demand for Bitcoin, highlighted by MicroStrategy’s continuous accumulation, further signifies positive market sentiment. These factors, combined with the expansion of the Ripple ecosystem and the overall positive market outlook, provide a confident basis for the observed trend in the cryptocurrency market for the next 8 hours.

What is important

Key points to understand the current state of the cryptocurrency market:

1. Bitcoin Price Surge: Bitcoin has hit a new all-time high, surpassing $107k, driven by strategic reserve hopes.

2. Ethereum Momentum: Ethereum has reclaimed the $4,000 level, exhibiting bullish signs for a potential new all-time high.

3. Ripple’s Stablecoin: The launch of Ripple’s stablecoin RLUSD brings new rewards to the XRP community and expands the Ripple ecosystem.

4. MicroStrategy’s Bitcoin Acquisition: MicroStrategy’s continuous acquisition of Bitcoin, adding $1.5 billion to their holdings, reflects a positive market outlook and institutional confidence.

5. Overall Market Optimism: The cryptocurrency market remains optimistic as cryptocurrencies gain mainstream recognition and institutional interest.

These factors highlight the potential for further growth and stability within the cryptocurrency market.

Top 5 – Latest Headlines & Cryptocurrency News

πŸ‘ Bitcoin price today: hits record high over $107k on strategic reserve hopes
– Bitcoin price hits a record high over $107k on hopes of a strategic reserve.

πŸ‘ CoinShares CEO Optimistic About Bitcoin ETFs, Ethereum Under Trump
– The CEO of CoinShares is optimistic about the possibility of Bitcoin ETFs and Ethereum under the Trump administration.

πŸ‘ RippleΒ΄s Stablecoin Is Here: RLUSD Goes Live on These Exchanges
– RippleΒ΄s stablecoin RLUSD has been launched on various exchanges.

πŸ‘ MicroStrategy Raises Stakes, Acquires $1.5 Billion In Bitcoin Amid Positive Market Outlook
– MicroStrategy acquires $1.5 billion in Bitcoin amid positive market outlook.

πŸ‘ Bitcoin Price Powers Ahead: Rally Shows No Signs of Slowing
– Bitcoin price surges to $107k.

Factors DrivingΒ the Growth – Market Sentiment

The most mentioned positive sentiment keywords in the news over the past 24 hours include Bitcoin (mentioned 29 times), the overall cryptocurrency market (mentioned 18 times), Ethereum (mentioned 14 times), MicroStrategy (mentioned 12 times), XRP (mentioned 12 times), Ripple (mentioned 8 times), stablecoin (mentioned 8 times), and price (mentioned 7 times). The frequent presence of these keywords indicates a positive sentiment and focus on price movements, market developments, and adoption within the cryptocurrency market.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
29bitcoin
18cryptocurrency market
14ethereum
12microstrategy
12xrp
8ripple
8stablecoin
7price
6$107k
6altcoins

Negative Terms – Sentiment Analysis

OccurrencesKeyword
4lastpass
3$5 million
3north korean
3pengu token
3price
2arrests
2bankruptcy
2bybit
2crypto
2cryptocurrency

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators table, which represents the sentiment in the cryptocurrency market, shows a mix of fear and greed sentiment. The values range between extreme fear (0-24) and extreme greed (above 75). Based on the provided dataset, the Fear and Greed Indicators are not available, and therefore, further analysis of the sentiment cannot be determined.

DateValueVariationSource
2024-12-17 00:00:0087pt4ptAlternative.me
2024-12-16 00:00:0080pt0ptAlternative.me
2024-12-16 00:00:0083pt3ptAlternative.me
2024-12-15 00:00:0080pt-3ptAlternative.me
2024-12-15 00:00:0083pt0ptAlternative.me
2024-12-17 00:00:0083pt0ptBinance.com
2024-12-17 00:00:0087pt4ptBinance.com
2024-12-16 00:00:0080pt0ptBinance.com
2024-12-16 00:00:0083pt3ptBinance.com
2024-12-15 00:00:0080pt-3ptBinance.com
2024-12-15 00:00:0083pt0ptBinance.com
2024-12-17 00:00:0087pt7ptBitDegree.org
2024-12-16 00:00:0080pt-3ptBitDegree.org
2024-12-15 00:00:0083pt0ptBitDegree.org
2024-12-17 16:00:0073pt-7ptBtcTools.io
2024-12-17 08:00:0080pt1ptBtcTools.io
2024-12-17 00:00:0079pt2ptBtcTools.io
2024-12-16 16:00:0077pt-4ptBtcTools.io
2024-12-16 08:00:0081pt1ptBtcTools.io
2024-12-16 00:00:0080pt2ptBtcTools.io
2024-12-15 16:00:0078pt-2ptBtcTools.io
2024-12-15 08:00:0080pt-2ptBtcTools.io
2024-12-15 00:00:0082pt0ptBtcTools.io
2024-12-17 00:00:0080pt3ptCoinstats.app
2024-12-16 00:00:0077pt-2ptCoinstats.app
2024-12-16 00:00:0079pt0ptCoinstats.app
2024-12-15 00:00:0078pt0ptCoinstats.app
2024-12-15 00:00:0079pt1ptCoinstats.app

Bitcoin: Active Addresses

The Bitcoin Address Indicators table provides insights into wallet addresses and their quantities based on balance values. However, the provided dataset does not include specific data for Bitcoin address indicators; hence, further analysis cannot be conducted at this time.

DateAddressesVariationIndicatorSource
2024-12-16 12:00:001,353,866,7630.00%Total Addressesbitaps.com
2024-12-16 12:00:00790,222-3.33%Bitcoin Active Addressesbtc.com
2024-12-16 12:00:00540,5150.00%Addresses with over 0bitaps.com
2024-12-16 12:00:00219,2250.00%Addresses with over 0.0000001bitaps.com
2024-12-16 12:00:003,996,6560.00%Addresses with over 0.000001bitaps.com
2024-12-16 12:00:0010,818,8250.00%Addresses with over 0.00001bitaps.com
2024-12-16 12:00:0013,025,4610.01%Addresses with over 0.0001bitaps.com
2024-12-16 12:00:0011,679,4770.01%Addresses with over 0.001bitaps.com
2024-12-16 12:00:007,958,8380.00%Addresses with over 0.01bitaps.com
2024-12-16 12:00:003,476,9640.00%Addresses with over 0.1bitaps.com
2024-12-16 12:00:00840,6910.00%Addresses with over 1bitaps.com
2024-12-16 12:00:00134,5400.00%Addresses with over 10bitaps.com
2024-12-16 12:00:0015,562-0.01%Addresses with over 100bitaps.com
2024-12-16 12:00:002,0070.00%Addresses with over 1,000bitaps.com
2024-12-16 12:00:00920.00%Addresses with over 10,000bitaps.com
2024-12-16 12:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

No economic events data has been provided in the dataset; thus, an analysis of economic events in the cryptocurrency market cannot be provided.

DateImpactEvent
2024-12-18 15:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-12-18 15:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-12-18 15:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-12-18 13:30:00HighHousing Starts and Permits Starts – Annual Rate
2024-12-18 13:30:00HighHousing Starts and Permits Permits – Annual Rate
2024-12-17 23:50:00ModerateJPY – Trade Balance (Nov)
2024-12-17 23:50:00ModerateJPY – Exports (YoY) (Nov)
2024-12-17 23:50:00ModerateJPY – Adjusted Trade Balance
2024-12-17 22:00:00ModerateNZD – Westpac Consumer Sentiment (Q4)
2024-12-17 21:45:00ModerateNZD – Current Account (QoQ) (Q3)
2024-12-17 21:45:00ModerateNZD – Current Account (YoY) (Q3)
2024-12-17 21:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-12-17 21:00:00ModerateNZD – Westpac Consumer Sentiment (Q4)
2024-12-17 20:00:00ModerateNZD – Westpac Consumer Sentiment (Q4)
2024-12-17 18:00:00ModerateUSD – Atlanta Fed GDPNow (Q4)
2024-12-17 18:00:00ModerateUSD – 20-Year Bond Auction
2024-12-17 17:30:00ModerateUSD – Atlanta Fed GDPNow (Q4)
2024-12-17 15:00:00ModerateUSD – Retail Inventories Ex Auto (Oct)
2024-12-17 15:00:00ModerateUSD – Business Inventories (MoM) (Oct)
2024-12-17 15:00:00ModerateHousing Market Index Index
2024-12-17 15:00:00ModerateBusiness Inventories Manufacturing Inventories
2024-12-17 15:00:00ModerateBusiness Inventories Month over Month
2024-12-17 15:00:00ModerateBusiness Inventories Wholesale Inventories
2024-12-17 15:00:00ModerateBusiness Inventories Retail Inventories
2024-12-17 14:15:00ModerateUSD – Industrial Production (MoM) (Nov)
2024-12-17 14:15:00ModerateUSD – Industrial Production (YoY) (Nov)
2024-12-17 14:15:00HighIndustrial Production Manufacturing Output – M/M
2024-12-17 14:15:00HighIndustrial Production Capacity Utilization Rate
2024-12-17 14:15:00HighIndustrial Production Industrial Production – M/M
2024-12-17 13:30:00ModerateCAD – New Housing Price Index (MoM) (Nov)
2024-12-17 13:30:00ModerateCAD – Foreign Securities Purchases (Oct)
2024-12-17 13:30:00ModerateCAD – CPI (MoM) (Nov)
2024-12-17 13:30:00ModerateCAD – Core CPI (YoY) (Nov)
2024-12-17 13:30:00ModerateCAD – Core CPI (MoM) (Nov)
2024-12-17 13:30:00HighUSD – Retail Sales (MoM) (Nov)
2024-12-17 13:30:00ModerateUSD – Retail Control (MoM) (Nov)
2024-12-17 13:30:00HighUSD – Core Retail Sales (MoM) (Nov)
2024-12-17 13:30:00HighRetail Sales Retail Sales – M/M
2024-12-17 13:30:00HighRetail Sales Ex-Vehicles – M/M
2024-12-17 13:30:00HighRetail Sales Ex-Vehicles & Gas – M/M
2024-12-17 10:00:00ModerateEUR – German Buba Vice President Buch Speaks
2024-12-17 10:00:00ModerateEUR – ZEW Economic Sentiment (Dec)
2024-12-17 10:00:00ModerateEUR – Trade Balance (Oct)
2024-12-17 10:00:00ModerateEUR – ECBΒ΄s Elderson Speaks
2024-12-17 10:00:00ModerateEUR – German ZEW Economic Sentiment (Dec)
2024-12-17 10:00:00ModerateEUR – German ZEW Current Conditions (Dec)
2024-12-17 09:00:00ModerateEUR – German Ifo Business Climate Index (Dec)
2024-12-17 09:00:00ModerateEUR – German Current Assessment (Dec)
2024-12-17 09:00:00ModerateEUR – German Business Expectations (Dec)
2024-12-17 07:00:00ModerateGBP – Unemployment Rate (Oct)
2024-12-17 07:00:00ModerateGBP – Employment Change 3M/3M (MoM) (Oct)
2024-12-17 07:00:00ModerateGBP – Claimant Count Change (Nov)
2024-12-17 07:00:00ModerateGBP – Average Earnings Index +Bonus (Oct)

Crypto Assets Prices

The Prices table reflects the prices, price variations, and volatility of major cryptocurrencies. The dataset includes data on Bitcoin, Ethereum, and Binance Coin. Over the past 24 hours, Bitcoin has reached a new all-time high, surpassing $107k, with a price variation of 1.05%. Ethereum has reclaimed the $4,000 mark with a variation of 0.48%. Binance Coin has experienced a slight price decrease with a variation of -0.53%. The volatility of these cryptocurrencies has remained within a reasonable range, indicating stable market conditions.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-12-16 23:52:00Bitcoin106,015.461.05%1.49-1.95%4.320.35%
2024-12-15 23:52:00Bitcoin104,903.953.34%3.443.46%3.961.94%
2024-12-16 23:52:00Ethereum3,993.250.48%0.86-1.82%5.762.04%
2024-12-15 23:52:00Ethereum3,973.962.70%2.683.70%3.720.58%
2024-12-16 23:52:00Binance Coin720.01-0.53%0.16-0.96%3.670.62%
2024-12-15 23:52:00Binance Coin723.841.11%1.122.49%3.05-0.80%

CryptocurrencyΒ Capitalization and Volume

The Market Capitalizations and Volumes table provides insights into the total market capitalization and total volume of major cryptocurrencies. The dataset includes data for Bitcoin, Ethereum, and Tether. Bitcoin maintains its position as the largest cryptocurrency by market capitalization, reaching $2.097 trillion, with a slight variation of 1.37%. Ethereum follows with a market capitalization of $481.7 billion and a variation of 1.15%. Tether, a stablecoin, has a market capitalization of $140.5 billion, with a variation of 0.42%. These figures demonstrate the continued growth and significance of Bitcoin and Ethereum in the cryptocurrency market.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-12-17 00:00:00Binance Coin105,222,651,9990.06%1,586,496,97143.28%
2024-12-16 00:00:00Binance Coin105,162,346,5370.74%1,107,283,673-8.42%
2024-12-15 00:00:00Binance Coin104,386,563,393-1.52%1,209,037,673-36.36%
2024-12-17 00:00:00Bitcoin2,097,460,193,7111.37%121,838,243,73968.87%
2024-12-16 00:00:00Bitcoin2,069,073,658,1153.08%72,147,742,57626.62%
2024-12-15 00:00:00Bitcoin2,007,197,829,0920.09%56,980,662,617-27.69%
2024-12-17 00:00:00Ethereum481,697,746,0221.15%50,682,666,581103.46%
2024-12-16 00:00:00Ethereum476,242,303,3002.18%24,910,813,057-12.77%
2024-12-15 00:00:00Ethereum466,066,123,937-0.94%28,557,543,434-21.18%
2024-12-17 00:00:00Tether140,528,755,3130.42%182,176,343,062258.01%
2024-12-16 00:00:00Tether139,946,666,649-0.11%50,885,509,259-49.41%
2024-12-15 00:00:00Tether140,096,288,861-0.01%100,588,190,169-21.94%

Cryptocurrency Exchanges Volume and Variation

The Exchanges table tracks the trading volumes on major cryptocurrency exchanges. The dataset includes data on Binance, Binance US, Bitfinex, Bybit, Coinbase, Crypto.com, Gate.io, Kraken, KuCoin, and OKX. Binance, one of the largest exchanges, shows a significant trading volume of 318,632, with a variation of 71.69%. Other exchanges such as Binance US, Bitfinex, Bybit, Coinbase, and Crypto.com also exhibit notable trading volumes. These figures suggest a high level of activity and liquidity in the cryptocurrency market.

DateExchangeVolumeVariation
2024-12-17 00:00:00Binance318,63271.69%
2024-12-16 00:00:00Binance185,5892.73%
2024-12-15 00:00:00Binance180,657-31.57%
2024-12-17 00:00:00Binance US29345.77%
2024-12-16 00:00:00Binance US20132.24%
2024-12-15 00:00:00Binance US152-20.00%
2024-12-17 00:00:00Bitfinex6,337139.95%
2024-12-16 00:00:00Bitfinex2,6416.15%
2024-12-15 00:00:00Bitfinex2,48813.40%
2024-12-17 00:00:00Bybit80,64860.76%
2024-12-16 00:00:00Bybit50,168-13.52%
2024-12-15 00:00:00Bybit58,012-18.39%
2024-12-17 00:00:00Coinbase67,573116.57%
2024-12-16 00:00:00Coinbase31,20117.01%
2024-12-15 00:00:00Coinbase26,666-54.00%
2024-12-17 00:00:00Crypto.com104,153109.54%
2024-12-16 00:00:00Crypto.com49,7064.24%
2024-12-15 00:00:00Crypto.com47,686-34.72%
2024-12-17 00:00:00Gate.io60,26649.15%
2024-12-16 00:00:00Gate.io40,405-6.34%
2024-12-15 00:00:00Gate.io43,139-23.22%
2024-12-17 00:00:00Kraken22,533123.17%
2024-12-16 00:00:00Kraken10,09727.46%
2024-12-15 00:00:00Kraken7,922-41.17%
2024-12-17 00:00:00KuCoin16,52423.33%
2024-12-16 00:00:00KuCoin13,3981.52%
2024-12-15 00:00:00KuCoin13,198-13.58%
2024-12-17 00:00:00OKX54,08663.80%
2024-12-16 00:00:00OKX33,019-1.41%
2024-12-15 00:00:00OKX33,490-29.33%

Mining – Blockchain Technology

The Mining table provides insights into mining difficulty, mined blocks, block rewards, and hash rate representing the computational mining capacity in the cryptocurrency market. However, the provided dataset does not include specific data for mining indicators, preventing further analysis of the mining sector at this time.

Item2024-12-172024-12-162024-12-152024-12-142024-12-132024-12-122024-12-11
Difficulty108.52T103.92T103.92T103.92T103.92T103.92T103.92T
Difficulty Variation4.43%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks875.08K874.94K874.80K874.64K874.47K874.32K874.18K
Blocks Variation0.02%0.02%0.02%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 GB794.04B712.99B821.97B868.35B774.88B729.30B791.37B
Hash Rate GB Variation11.37%-13.26%-5.34%12.06%6.25%-7.84%-9.40%

Conclusion

In conclusion, the cryptocurrency market has demonstrated a neutral to trending up trend over the past 24 hours. Bitcoin has reached a new record high, surpassing $107k, indicating positive sentiment and expectations for a strategic reserve. Ethereum has reclaimed the $4,000 mark, showing potential for a new all-time high. Ripple’s stablecoin RLUSD launch is expected to bring rewards and foster growth within the XRP community. MicroStrategy continues to acquire Bitcoin, highlighting confidence in the market outlook. Overall, despite minor price volatility, the cryptocurrency market remains optimistic, driven by factors such as institutional investment and increased mainstream recognition.

The practical implication of the current state of the cryptocurrency market is that investors and market participants may consider capitalizing on the positive momentum and potential further growth in cryptocurrencies such as Bitcoin and Ethereum. However, it is important to conduct thorough research and risk assessment before making any investment decisions.

Looking ahead, it is likely that the cryptocurrency market will continue to attract attention and experience further developments. Factors such as regulatory advancements, institutional involvement, and market demand will play significant roles in shaping the market’s trajectory.

So What

The practical implications of the current state of the cryptocurrency market are significant. The continued positive momentum and record-breaking achievements signal the growing mainstream acceptance of cryptocurrencies as valuable assets. Investors may consider diversifying their portfolios to include prominent cryptocurrencies like Bitcoin and Ethereum. Furthermore, the introduction of stablecoins, such as RLUSD, offers an alternative and stable option for transactions within the cryptocurrency ecosystem. It is advised, however, to conduct thorough research and consult with financial professionals before making investment decisions.

What next?

Looking ahead, the cryptocurrency market is poised for further growth and innovation. The increasing institutional interest, positive market sentiment, and ongoing developments indicate a favorable outlook. It is expected that cryptocurrencies will continue to gain traction as more individuals and institutions recognize their value and adopt them for various purposes. Regulatory developments and technological advancements will play crucial roles in shaping the future of the cryptocurrency market. As the market evolves, investors and enthusiasts should stay informed about the latest trends and developments to seize the potential opportunities ahead.

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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