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 largest cryptocurrency, has maintained its positive momentum, with a potential bullish pattern forming. Analyst Justin Bennett suggests that this pattern has historically led to a significant rally in Bitcoin. Additionally, the recent rally in Bitcoin has validated the decisions of Wall Street professionals who have transitioned to the crypto industry.
Etheruem, the second-largest cryptocurrency, has also exhibited positive movement, showcasing a potential parabolic rally to $4,000. The rise of meme coins, such as Dogecoin and Shiba Inu, has captured market attention, suggesting an increased interest in these alternative digital assets.
Tether, the stablecoin issuer, anticipates net profits to exceed $10 billion in 2024, underlining the growing demand for stablecoins in the market. Moreover, notable investments and developments have taken place, with Tether investing $775 million into the YouTube rival Rumble and Crypto.com launching a sports event trading product.
As for the negatives, concerns over North Korean hacking have triggered significant outflows from HyperLiquid, impacting the overall market sentiment. Additionally, Peter Schiff continues to express skepticism towards Bitcoin, suggesting an alternative digital currency called USA Coin.
Based on the available data, it is observed that the market sentiment is primarily positive, with favorable indicators and notable developments for various cryptocurrencies and related platforms.
What is important
The current state of the cryptocurrency market reflects a largely positive sentiment. Bitcoin, the dominant cryptocurrency, is displaying potential bullish patterns that could lead to a significant rally. Ethereum is also showing positive signs, indicating a potential parabolic rally. The rise of meme coins, such as Dogecoin and Shiba Inu, demonstrates the market’s enthusiasm for alternative digital assets.
Stablecoins, including Tether, are gaining traction in the market, with projections of substantial profits in 2024. Investments and developments in the crypto industry, such as Tether’s investment in Rumble and Crypto.com’s sports event trading product, further signify the market’s growth and expansion.
While positive trends prevail, it is important to consider factors that may dampen sentiment. Concerns over North Korean hacking and skepticism from individuals like Peter Schiff contribute to a nuanced market landscape. Overall, the cryptocurrency market’s current state reflects a balance between positive developments and cautious factors.
Top 5 – Latest Headlines & Cryptocurrency News
👍 Arthur Hayes Deposits $8,470,000 Worth of ENA to Binance After Massive Rally: Lookonchain
– Arthur Hayes deposits $8,470,000 worth of ENA to Binance after massive rally.
👍 Dogecoin prepares for lift-off: Historical patterns hint at a 12,000% rally
– Dogecoin is preparing for a potential rally, with historical patterns suggesting a possible $12,000 surge.
👍 Tether Estimates Net Profits for 2024 to Exceed $10 Billion
– Tether estimates net profits for 2024 to exceed $10 billion.
👍 Bitcoin Flashing Bullish Pattern That Led to 100% Rally Earlier This Year, According to Analyst Justin Bennett
– Bitcoin is showing a bullish pattern similar to one that led to a 100% rally earlier this year, according to analyst Justin Bennett.
👍 Bitcoin Boom Validates Wall Streeters Who Jumped Into Crypto
– The recent Bitcoin rally validates those who left Wall Street to work in crypto.
Factors Driving the Growth – Market Sentiment
In the past 24 hours, Bitcoin, Dogecoin, and Ethereum have emerged as the most frequently mentioned cryptocurrencies in the news. Bitcoin has been frequently associated with its rally, bullish patterns, and validation of Wall Street professionals’ decisions to enter the crypto market. Dogecoin has garnered attention due to its potential upcoming rally and historical surge. As for Ethereum, analysts predict a parabolic price increase. Stablecoins, specifically Tether, have also made headlines for estimating significant net profits. Additionally, meme coins, alternative digital investments, and developments in digital payment platforms have been noteworthy. Conversely, negative sentiments have been expressed regarding Bitcoin by Peter Schiff and concerns over North Korean hacking.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 15 | bitcoin |
| 11 | cryptocurrency market |
| 11 | dogecoin |
| 10 | ethereum |
| 7 | cryptocurrency |
| 7 | xrp |
| 5 | crypto |
| 5 | cryptocurrencies |
| 5 | tether |
| 4 | 2024 |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 11 | bitcoin |
| 5 | cryptocurrency market |
| 3 | north korea |
| 3 | price |
| 3 | russia |
| 2 | argentina |
| 2 | crypto mining |
| 2 | december |
| 2 | dmm |
| 2 | fbi |
Crypto Investor Fear & Greed Index
The Fear and Greed Indicators for the cryptocurrency market have remained relatively steady in the fear to greed range. Currently, the market is displaying indicators between fear and greed, with a slight leaning towards greed. This suggests that investors are exhibiting moderate confidence in the market, supported by positive developments and potential bullish patterns in cryptocurrencies. However, caution remains as concerns over North Korean hacking have triggered outflows from certain platforms. Overall, the fear and greed indicators provide a comprehensive view of market sentiment, helping to gauge investor confidence and risk appetite.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-12-24 00:00:00 | 70pt | 0pt | Alternative.me |
| 2024-12-24 00:00:00 | 73pt | 3pt | Alternative.me |
| 2024-12-23 00:00:00 | 70pt | -3pt | Alternative.me |
| 2024-12-23 00:00:00 | 73pt | 0pt | Alternative.me |
| 2024-12-22 00:00:00 | 73pt | 0pt | Alternative.me |
| 2024-12-24 00:00:00 | 70pt | 0pt | Binance.com |
| 2024-12-24 00:00:00 | 73pt | 3pt | Binance.com |
| 2024-12-23 00:00:00 | 70pt | -3pt | Binance.com |
| 2024-12-23 00:00:00 | 73pt | 0pt | Binance.com |
| 2024-12-22 00:00:00 | 73pt | 0pt | Binance.com |
| 2024-12-24 00:00:00 | 70pt | -3pt | BitDegree.org |
| 2024-12-23 00:00:00 | 73pt | 0pt | BitDegree.org |
| 2024-12-22 00:00:00 | 73pt | 0pt | BitDegree.org |
| 2024-12-24 00:00:00 | 44pt | 6pt | BtcTools.io |
| 2024-12-23 16:00:00 | 38pt | 1pt | BtcTools.io |
| 2024-12-23 08:00:00 | 37pt | 1pt | BtcTools.io |
| 2024-12-23 00:00:00 | 36pt | -3pt | BtcTools.io |
| 2024-12-22 16:00:00 | 39pt | 2pt | BtcTools.io |
| 2024-12-22 00:00:00 | 37pt | 1pt | BtcTools.io |
| 2024-12-21 16:00:00 | 36pt | 0pt | BtcTools.io |
| 2024-12-24 00:00:00 | 54pt | -5pt | Coinstats.app |
| 2024-12-24 00:00:00 | 59pt | 0pt | Coinstats.app |
| 2024-12-23 00:00:00 | 59pt | -3pt | Coinstats.app |
| 2024-12-23 00:00:00 | 62pt | 0pt | Coinstats.app |
| 2024-12-22 00:00:00 | 62pt | 0pt | Coinstats.app |
Bitcoin: Active Addresses
Bitcoin addresses continue to witness steady growth, with over 1.3 billion active addresses and a significant number of zero-balance addresses. This indicates that Bitcoin’s network is expanding, with an increasing number of individuals actively participating in transactions. The dataset also reflects varying levels of balance in these addresses, suggesting diverse user engagement and wallet activities. This growing number of Bitcoin addresses signifies the widespread adoption and interest in Bitcoin as a digital currency.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-12-24 14:00:00 | 1,356,620,080 | 0.00% | Total Addresses | bitaps.com |
| 2024-12-24 14:00:00 | 1,303,918,395 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-12-24 14:00:00 | 798,011 | 0.54% | Bitcoin Active Addresses | btc.com |
| 2024-12-24 14:00:00 | 540,523 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-12-24 14:00:00 | 219,223 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-12-24 14:00:00 | 4,043,041 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-12-24 14:00:00 | 10,849,399 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-12-24 14:00:00 | 13,016,611 | 0.00% | Addresses with over 0.0001 | bitaps.com |
| 2024-12-24 14:00:00 | 11,668,339 | 0.00% | Addresses with over 0.001 | bitaps.com |
| 2024-12-24 14:00:00 | 7,898,964 | 0.01% | Addresses with over 0.01 | bitaps.com |
| 2024-12-24 14:00:00 | 3,473,595 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-12-24 14:00:00 | 839,822 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-12-24 14:00:00 | 134,468 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-12-24 14:00:00 | 15,643 | -0.02% | Addresses with over 100 | bitaps.com |
| 2024-12-24 14:00:00 | 1,961 | -0.05% | Addresses with over 1,000 | bitaps.com |
| 2024-12-24 14:00:00 | 92 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-12-24 14:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
In the global financial market, key economic events have affected the sentiment and performance of various financial instruments. These events include USD weekly crude oil stock data, Atlanta Fed GDPNow, 5-Year Note Auction, new home sales figures, durable goods orders, and monetary policy meeting minutes. These events impact market participants’ decisions, offering valuable insights into the economic landscape and influencing the performance of related assets.
| Date | Impact | Event |
|---|---|---|
| 2024-12-24 21:30:00 | Moderate | USD – API Weekly Crude Oil Stock |
| 2024-12-24 18:00:00 | Moderate | USD – Atlanta Fed GDPNow (Q4) |
| 2024-12-24 18:00:00 | Moderate | USD – 5-Year Note Auction |
| 2024-12-24 15:00:00 | High | USD – New Home Sales (Nov) |
| 2024-12-24 15:00:00 | Moderate | USD – New Home Sales (MoM) (Nov) |
| 2024-12-24 15:00:00 | High | New Home Sales Annual Rate |
| 2024-12-24 13:30:00 | High | USD – Durable Goods Orders (MoM) (Nov) |
| 2024-12-24 13:30:00 | Moderate | USD – Core Durable Goods Orders (MoM) (Nov) |
| 2024-12-24 13:30:00 | High | Durable Goods Orders Ex-Transportation – M/M |
| 2024-12-24 13:30:00 | High | Durable Goods Orders New Orders – M/M |
| 2024-12-24 13:30:00 | High | Durable Goods Orders Core Capital Goods – M/M |
| 2024-12-24 05:00:00 | Moderate | JPY – BoJ Core CPI (YoY) |
| 2024-12-24 00:30:00 | Moderate | AUD – RBA Meeting Minutes |
| 2024-12-23 23:50:00 | Moderate | JPY – Monetary Policy Meeting Minutes |
| 2024-12-23 18:00:00 | Moderate | USD – 2-Year Note Auction |
| 2024-12-23 15:00:00 | High | New Home Sales Annual Rate |
| 2024-12-23 15:00:00 | High | USD – New Home Sales (Nov) |
| 2024-12-23 15:00:00 | Moderate | USD – New Home Sales (MoM) (Nov) |
| 2024-12-23 15:00:00 | High | Consumer Confidence Index |
| 2024-12-23 15:00:00 | High | USD – CB Consumer Confidence (Dec) |
| 2024-12-23 14:30:00 | Moderate | USD – Building Permits (Nov) |
Crypto Assets Prices
The cryptocurrency market has shown positive price movements over the last 24 hours. Bitcoin has experienced a slight variation with a potential bullish pattern forming, validating analysts’ expectations of a potential rally. Ethereum has displayed positive price variations, signaling a potential parabolic rally. Additionally, altcoins like Binance Coin and Dogecoin have demonstrated positive price momentum, indicating market interest. Notwithstanding, some cryptocurrencies, including Dogecoin, faced a pullback following wider market volatility.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-12-24 14:15:00 | Bitcoin | 96,252.67 | 1.08% | 1.97 | 2.13% | 4.22 | 1.20% |
| 2024-12-23 14:15:00 | Bitcoin | 95,212.92 | -1.55% | -0.16 | 0.25% | 3.03 | 0.77% |
| 2024-12-22 14:15:00 | Bitcoin | 96,691.11 | -0.90% | -0.40 | -2.43% | 2.26 | -2.09% |
| 2024-12-24 14:15:00 | Ethereum | 3,445.51 | 3.07% | 4.00 | 2.12% | 6.05 | 1.50% |
| 2024-12-23 14:15:00 | Ethereum | 3,339.58 | -0.55% | 1.88 | 2.39% | 4.54 | 1.18% |
| 2024-12-22 14:15:00 | Ethereum | 3,357.99 | -1.58% | -0.51 | -2.99% | 3.37 | -3.48% |
| 2024-12-24 14:15:00 | Binance Coin | 691.81 | 1.69% | 2.11 | -2.14% | 4.16 | -2.88% |
| 2024-12-23 14:15:00 | Binance Coin | 680.09 | 2.31% | 4.25 | 4.03% | 7.04 | 4.01% |
| 2024-12-22 14:15:00 | Binance Coin | 664.40 | -0.58% | 0.22 | -1.67% | 3.03 | -3.15% |
Cryptocurrency Capitalization and Volume
Total market capitalization and trading volumes of major cryptocurrencies have remained robust over the past 24 hours. Bitcoin, Ethereum, and Binance Coin have maintained significant capitalization figures, reflecting their prominence in the market. Trading volumes on exchanges like Binance, Bitfinex, and Coinbase have witnessed notable activity, indicating a vibrant market ecosystem. The stability and growth observed in market capitalization, combined with significant trading volumes, reflect sustained investor interest and liquidity in the cryptocurrency market.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-12-24 00:00:00 | Binance Coin | 101,201,832,196 | 6.97% | 1,969,173,501 | 73.46% |
| 2024-12-23 00:00:00 | Binance Coin | 94,610,244,428 | -2.14% | 1,135,201,112 | -30.43% |
| 2024-12-22 00:00:00 | Binance Coin | 96,677,672,463 | -2.31% | 1,631,680,254 | -40.10% |
| 2024-12-24 00:00:00 | Bitcoin | 1,876,419,606,928 | -0.35% | 68,118,447,763 | 59.53% |
| 2024-12-23 00:00:00 | Bitcoin | 1,883,008,941,039 | -2.17% | 42,698,944,766 | -13.94% |
| 2024-12-22 00:00:00 | Bitcoin | 1,924,821,920,759 | -0.58% | 49,613,664,037 | -45.99% |
| 2024-12-24 00:00:00 | Ethereum | 411,741,706,437 | 4.30% | 36,019,149,187 | 39.80% |
| 2024-12-23 00:00:00 | Ethereum | 394,753,995,285 | -1.82% | 25,764,576,496 | -18.79% |
| 2024-12-22 00:00:00 | Ethereum | 402,074,239,670 | -3.90% | 31,725,396,028 | -56.39% |
| 2024-12-24 00:00:00 | Tether | 139,716,325,492 | -0.02% | 98,539,308,650 | 112.99% |
| 2024-12-23 00:00:00 | Tether | 139,742,504,425 | -0.04% | 46,264,937,430 | -40.47% |
| 2024-12-22 00:00:00 | Tether | 139,801,325,952 | -0.56% | 77,710,642,829 | -55.12% |
Cryptocurrency Exchanges Volume and Variation
Major exchanges in the cryptocurrency market have demonstrated consistent trading volumes with variations over the past 24 hours. Exchanges such as Binance, Binance US, Bitfinex, and Crypto.com have experienced trading volume fluctuations. These exchanges play a crucial role in facilitating trading activities and providing liquidity to the market. The observation of varying trading volumes across exchanges highlights the dynamic nature of the market and showcases the diverse trading options available for cryptocurrency market participants.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-12-24 00:00:00 | Binance | 278,546 | 36.55% |
| 2024-12-23 00:00:00 | Binance | 203,988 | -22.93% |
| 2024-12-22 00:00:00 | Binance | 264,687 | -47.98% |
| 2024-12-24 00:00:00 | Binance US | 196 | 29.80% |
| 2024-12-23 00:00:00 | Binance US | 151 | -12.21% |
| 2024-12-22 00:00:00 | Binance US | 172 | -38.57% |
| 2024-12-24 00:00:00 | Bitfinex | 4,377 | 66.93% |
| 2024-12-23 00:00:00 | Bitfinex | 2,622 | 3.03% |
| 2024-12-22 00:00:00 | Bitfinex | 2,545 | -75.85% |
| 2024-12-24 00:00:00 | Bybit | 77,995 | 21.88% |
| 2024-12-23 00:00:00 | Bybit | 63,991 | -16.51% |
| 2024-12-22 00:00:00 | Bybit | 76,648 | -39.61% |
| 2024-12-24 00:00:00 | Coinbase | 54,433 | 80.61% |
| 2024-12-23 00:00:00 | Coinbase | 30,139 | -21.43% |
| 2024-12-22 00:00:00 | Coinbase | 38,359 | -61.65% |
| 2024-12-24 00:00:00 | Crypto.com | 160,074 | 57.43% |
| 2024-12-23 00:00:00 | Crypto.com | 101,680 | -6.47% |
| 2024-12-22 00:00:00 | Crypto.com | 108,712 | -51.40% |
| 2024-12-24 00:00:00 | Gate.io | 48,519 | 21.64% |
| 2024-12-23 00:00:00 | Gate.io | 39,887 | -27.84% |
| 2024-12-22 00:00:00 | Gate.io | 55,276 | -48.41% |
| 2024-12-24 00:00:00 | Kraken | 15,416 | 101.41% |
| 2024-12-23 00:00:00 | Kraken | 7,654 | -26.18% |
| 2024-12-22 00:00:00 | Kraken | 10,369 | -62.33% |
| 2024-12-24 00:00:00 | KuCoin | 16,217 | 21.82% |
| 2024-12-23 00:00:00 | KuCoin | 13,312 | -9.01% |
| 2024-12-22 00:00:00 | KuCoin | 14,630 | -42.83% |
| 2024-12-24 00:00:00 | OKX | 46,674 | 37.92% |
| 2024-12-23 00:00:00 | OKX | 33,841 | -31.73% |
| 2024-12-22 00:00:00 | OKX | 49,570 | -50.77% |
Mining – Blockchain Technology
Mining activities in the cryptocurrency market continue to exhibit stability and variation over the past 24 hours. Mining difficulty, the number of blocks mined, block rewards, and hash rates are important indicators showcasing the computational capacity of the network. Based on the available data, mining difficulty and block rewards have displayed consistency, while the number of blocks mined and hash rates have shown minor fluctuations. These indicators provide insights into the overall health and resilience of the cryptocurrency mining ecosystem.
| Item | 2024-12-24 | 2024-12-23 | 2024-12-22 | 2024-12-21 | 2024-12-20 | 2024-12-19 | 2024-12-18 |
|---|---|---|---|---|---|---|---|
| Difficulty | 108.52T | 108.52T | 108.52T | 108.52T | 108.52T | 108.52T | 108.52T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 876.10K | 875.96K | 875.80K | 875.66K | 875.51K | 875.36K | 875.22K |
| Blocks Variation | 0.02% | 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 | 3.13 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 744.57B | 842.86B | 783.36B | 814.86B | 783.36B | 771.69B | 739.84B |
| Hash Rate GB Variation | -11.66% | 7.59% | -3.87% | 4.02% | 1.51% | 4.30% | -6.83% |
Conclusion
The cryptocurrency market is currently experiencing a neutral to trending up trend, predominantly driven by positive indicators in Bitcoin, Ethereum, and other digital assets. Bullish patterns and potential rallies suggest a favorable market sentiment, with notable positive developments like Tether’s expected profits and significant investments in the crypto space. However, concerns over North Korean hacking and skepticism from some individuals contribute to a nuanced market landscape.
It is crucial to monitor ongoing news and events, as they continue to shape market sentiment and drive price movements. Additionally, the fluctuations in trading volumes across exchanges provide trading opportunities and liquidity for market participants.
So What
The current state of the cryptocurrency market underscores the importance of staying informed and considering various factors when making investment decisions. The positive sentiment and potential rallies in Bitcoin, Ethereum, and select altcoins can present opportunities for investors seeking potential gains. However, it is essential to remain mindful of potential risks, such as market volatility and geopolitical factors, as highlighted by concerns over North Korean hacking. By closely following market trends and developments, investors can navigate the cryptocurrency landscape and make informed decisions.
What next?
Looking ahead, market participants should closely monitor ongoing developments, including potential bullish patterns, regulatory changes, and geopolitical events that could impact the cryptocurrency market. Additionally, upcoming economic events and their potential impact on the financial landscape should be considered. As the cryptocurrency market continues to evolve, proactive engagement and staying updated with market news will be crucial for investors and industry observers alike.
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.
