02/10/2023 Crypto Market Analysis & Trend: High
The analysis of the cryptocurrency market shows positive movements across the majority of the major cryptocurrencies. Based on today’s data, the value and volume of cryptocurrencies like Bitcoin, Ethereum, and Binance Coin have increased, indicating a consolidated buying pressure in the market. The ‘Fear and Greed Indicators’ also present interesting insights, suggesting market sentiment is getting more stable. In-depth observation reveals that Bitcoin prices have broken past the $28,000 mark, and the presence of positive keywords like ‘perfectly positioned’, ‘accumulation’, and ‘$40,000’ in news reports reinforce this optimistic outlook. The rise in the hash rate also implies an increasing miner confidence in the market. Confidence in this trend analysis is high, and the uptrend is expected to continue for the next eight hours.
What is important
The current state of the cryptocurrency market indicates an uptrend, with major players like Bitcoin and Ethereum showing significant positive movement. User engagement on Uniswap and an increase in trading volume on premier exchanges are also key points, signaling a growing market enthusiasm. The unfolding regulatory discussions, such as Coinbase securing a full-license in Singapore, provide a more stable environment for market participants.
Latest Crypto News – Top 5
- Crypto Analyst Tips Bitcoin (BTC) To Reach $40,000 In Q4 2023– Crypto analyst predicts Bitcoin (BTC) reaching $40,000 in Q4 2023.
- Coinbase Obtains Major Payment Licence from the Central Bank of Singapore– Coinbase has been granted a full license in Singapore.
- Rumors of Franklin Templeton´s SPOT Bitcoin ETF Approval Boost BTC by 4% as USDT DOM Dips by 3.20%!– Rumors, Franklin Templeton, spot Bitcoin ETF approval, boost, BTC, USDT Dom, dips
- SEC Files Lawsuit Against FTX´s Auditor– SEC files lawsuit against FTX, auditor details
- FTX Hacker Holding $300,000,000 in Crypto Suddenly Moves Millions Worth of Assets: On-Chain Data– FTX hacker holding $300,000,000 in crypto suddenly moves millions worth of assets on-chain data.
Factors Driving the Growth – Market Sentiment
The keyword analysis shows ‘Bitcoin’, ‘coinbase’, and ‘cryptocurrency market’ as recurring themes in the ‘Positive Keywords’ table. Conversely, ‘FTX’, ‘SEC’, and ‘Bitcoin’ are present in the ‘Negative Keywords’, indicating regulatory scrutiny and FTX’s cyber-security concerns.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 6 | bitcoin |
| 4 | cryptocurrency market |
| 3 | coinbase |
| 2 | btc |
| 2 | perfectly positioned |
| 1 | $28,000 |
| 1 | $40,000 |
| 1 | accumulation |
| 1 | advance |
| 1 | altcoin bull rally |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 9 | ftx |
| 6 | sec |
| 5 | bitcoin |
| 4 | auditor |
| 3 | crypto |
| 3 | ethereum |
| 3 | exploiter |
| 2 | cftc |
| 2 | crypto exploits |
| 2 | crypto miners |
Crypto Fear & Greed Index
The ‘Fear and Greed Indicators’ show readings of fear to neutral, conveying some caution within the cryptocurrency sector, but overall, the indicators suggest a stabilizing sentiment.
| Date | Value | Variation | Source |
|---|---|---|---|
| 30/09/2023 01:00:00 | 47pt | -1pt | Alternative.me |
| 30/09/2023 00:00:00 | 48pt | 0pt | Alternative.me |
| 02/10/2023 01:00:00 | 50pt | 2pt | Alternative.me |
| 02/10/2023 00:00:00 | 48pt | 0pt | Alternative.me |
| 01/10/2023 01:00:00 | 48pt | 1pt | Alternative.me |
| 01/10/2023 00:00:00 | 47pt | 0pt | Alternative.me |
| 30/09/2023 07:00:00 | 47pt | -1pt | BitDegree.org |
| 30/09/2023 00:00:00 | 48pt | 0pt | BitDegree.org |
| 02/10/2023 00:00:00 | 48pt | 0pt | BitDegree.org |
| 01/10/2023 06:00:00 | 48pt | 1pt | BitDegree.org |
| 01/10/2023 00:00:00 | 47pt | 0pt | BitDegree.org |
| 30/09/2023 08:00:00 | 66pt | 1pt | BtcTools.io |
| 30/09/2023 01:00:00 | 65pt | -2pt | BtcTools.io |
| 30/09/2023 00:00:00 | 67pt | 0pt | BtcTools.io |
| 29/09/2023 16:00:00 | 67pt | 0pt | BtcTools.io |
| 02/10/2023 08:00:00 | 71pt | 2pt | BtcTools.io |
| 02/10/2023 00:00:00 | 69pt | 0pt | BtcTools.io |
| 01/10/2023 16:00:00 | 69pt | 4pt | BtcTools.io |
| 01/10/2023 08:00:00 | 65pt | 1pt | BtcTools.io |
| 01/10/2023 00:00:00 | 64pt | -2pt | BtcTools.io |
| 30/09/2023 00:00:00 | 47pt | 0pt | Coinstats.app |
| 02/10/2023 00:00:00 | 50pt | 2pt | Coinstats.app |
| 01/10/2023 00:00:00 | 48pt | 1pt | Coinstats.app |
| 30/09/2023 00:00:00 | 47pt | 0pt | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 50pt | 2pt | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 48pt | 1pt | LookIntoBitcoin.com |
| 30/09/2023 01:00:00 | 47pt | -1pt | Milkroad.com |
| 30/09/2023 00:00:00 | 48pt | 0pt | Milkroad.com |
| 02/10/2023 01:00:00 | 50pt | 2pt | Milkroad.com |
| 02/10/2023 00:00:00 | 48pt | 0pt | Milkroad.com |
| 01/10/2023 01:00:00 | 48pt | 1pt | Milkroad.com |
| 01/10/2023 00:00:00 | 47pt | 0pt | Milkroad.com |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table shows consistent values, suggesting steady Bitcoin activity, no major accumulation or withdrawal patterns, and firm investor confidence.
| Date | Value | Variation | Address | Source |
|---|---|---|---|---|
| 01/10/2023 00:00:00 | 1,036,440 | -1.72% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 1,054,314 | -0.97% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 29/09/2023 00:00:00 | 1,064,536 | 0.96% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 28/09/2023 00:00:00 | 1,054,331 | -0.61% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 12,364,929 | -0.06% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 12,372,275 | -0.01% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 29/09/2023 00:00:00 | 12,373,899 | -0.03% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 28/09/2023 00:00:00 | 12,377,437 | -0.11% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 4,490,861 | 0.00% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 4,490,827 | -0.01% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 29/09/2023 00:00:00 | 4,491,346 | 0.01% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 28/09/2023 00:00:00 | 4,491,084 | -0.06% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 1,021,459 | 0.01% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 1,021,328 | 0.00% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 29/09/2023 00:00:00 | 1,021,367 | -0.01% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 28/09/2023 00:00:00 | 1,021,436 | -0.01% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 157,353 | 0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 157,342 | 0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 29/09/2023 00:00:00 | 157,320 | 0.00% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 28/09/2023 00:00:00 | 157,313 | 0.02% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 15,827 | 0.04% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 15,820 | 0.01% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 29/09/2023 00:00:00 | 15,818 | 0.03% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 28/09/2023 00:00:00 | 15,814 | 0.03% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 2,004 | 0.00% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 2,004 | 0.05% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 29/09/2023 00:00:00 | 2,003 | -0.15% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 28/09/2023 00:00:00 | 2,006 | 0.10% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
Economic events to move the cryptocurrency market
A series of ‘Economic Events’ outlined does not appear to have had a significant direct impact on cryptocurrency market dynamics.
| Date | Impact | Event |
|---|---|---|
| 03/10/2023 14:00:00 | Moderate | JOLTS Job Openings |
| 03/10/2023 00:00:00 | Moderate | Motor Vehicle Sales North American-Made Sales – Annual Rate |
| 03/10/2023 00:00:00 | Moderate | Motor Vehicle Sales Total Vehicle Sales – Annual Rate |
| 02/10/2023 23:30:00 | Moderate | FOMC Member Mester Speaks |
| 02/10/2023 21:00:00 | Moderate | NZIER Business Confidence (Q3) |
| 02/10/2023 17:30:00 | Moderate | FOMC Member Williams Speaks |
| 02/10/2023 15:00:00 | Moderate | FOMC Member Harker Speaks |
| 02/10/2023 15:00:00 | High | Fed Chair Powell Speaks |
| 02/10/2023 15:00:00 | Moderate | BoE MPC Member Mann |
| 02/10/2023 14:00:00 | High | ISM Manufacturing Index Index |
| 02/10/2023 14:00:00 | Moderate | Construction Spending Year over Year |
| 02/10/2023 14:00:00 | Moderate | Construction Spending Month over Month |
| 02/10/2023 14:00:00 | High | ISM Manufacturing Prices (Sep) |
| 02/10/2023 14:00:00 | High | ISM Manufacturing PMI (Sep) |
| 02/10/2023 14:00:00 | Moderate | ISM Manufacturing Employment (Sep) |
| 02/10/2023 13:45:00 | Moderate | PMI Manufacturing Final Index |
| 02/10/2023 13:45:00 | Moderate | S&P Global US Manufacturing PMI (Sep) |
| 02/10/2023 09:00:00 | Moderate | Unemployment Rate (Aug) |
| 02/10/2023 08:30:00 | Moderate | IPC-Fipe Inflation Index (MoM) (Sep) |
| 02/10/2023 08:30:00 | Moderate | S&P Global/CIPS UK Manufacturing PMI (Sep) |
| 02/10/2023 08:00:00 | Moderate | HCOB Eurozone Manufacturing PMI (Sep) |
| 02/10/2023 08:00:00 | Moderate | IPC-Fipe Inflation Index (MoM) (Sep) |
| 02/10/2023 07:55:00 | Moderate | HCOB Germany Manufacturing PMI (Sep) |
| 02/10/2023 07:50:00 | Moderate | HCOB France Manufacturing PMI (Sep) |
| 02/10/2023 07:45:00 | Moderate | HCOB Italy Manufacturing PMI (Sep) |
| 02/10/2023 07:30:00 | Moderate | procure.ch PMI (Sep) |
| 02/10/2023 07:15:00 | Moderate | HCOB Spain Manufacturing PMI (Sep) |
| 02/10/2023 07:00:00 | Moderate | ECB´s De Guindos Speaks |
| 02/10/2023 07:00:00 | Moderate | Spanish Unemployment Change |
| 02/10/2023 06:00:00 | Moderate | Nationwide HPI (MoM) |
| 02/10/2023 06:00:00 | Moderate | Nationwide HPI (YoY) |
| 01/10/2023 23:50:00 | Moderate | Tankan Large Non-Manufacturers Index (Q3) |
| 01/10/2023 23:50:00 | Moderate | Tankan Large Manufacturers Index (Q3) |
| 01/10/2023 23:50:00 | Moderate | Tankan Big Manufacturing Outlook Index (Q3) |
| 01/10/2023 23:50:00 | Moderate | Tankan All Big Industry CAPEX (Q3) |
Cryptocurrency Prices
The ‘Prices’ table shows an upward trend in prices for the major cryptocurrencies, supported by an increase in volume, indicating buying pressure.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 02/10/2023 00:00:00 | Bitcoin | 27,992.57 | 3.68% | 3.71 | 3.61% | 4.03 | 3.25% |
| 01/10/2023 00:00:00 | Bitcoin | 26,962.56 | 0.21% | 0.10 | 0.69% | 0.78 | -1.40% |
| 30/09/2023 00:00:00 | Bitcoin | 26,906.96 | 0.00% | -0.59 | 0.00% | 2.17 | 0.00% |
| 02/10/2023 00:00:00 | Ethereum | 1,733.79 | 3.63% | 3.57 | 3.58% | 4.98 | 3.29% |
| 01/10/2023 00:00:00 | Ethereum | 1,670.89 | 0.21% | -0.01 | -0.84% | 1.69 | -0.72% |
| 30/09/2023 00:00:00 | Ethereum | 1,667.45 | 0.00% | 0.83 | 0.00% | 2.40 | 0.00% |
| 02/10/2023 00:00:00 | Binance Coin | 218.20 | 1.65% | 1.58 | 2.09% | 2.96 | 1.84% |
| 01/10/2023 00:00:00 | Binance Coin | 214.60 | -0.28% | -0.51 | -0.56% | 1.12 | -0.42% |
| 30/09/2023 00:00:00 | Binance Coin | 215.20 | 0.00% | 0.05 | 0.00% | 1.54 | 0.00% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table reveals that key cryptocurrencies have shown strong capitalizations and volumes, suggesting firm investor backing and liquidity.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 02/10/2023 00:00:00 | Binance Coin | 33,539,533,248 | 1.51% | 419,977,148 | 55.06% |
| 01/10/2023 00:00:00 | Binance Coin | 33,034,392,756 | -0.15% | 188,754,346 | -88.74% |
| 30/09/2023 00:00:00 | Binance Coin | 33,082,817,986 | -0.03% | 356,261,551 | -8.80% |
| 02/10/2023 00:00:00 | Bitcoin | 545,302,108,027 | 3.55% | 10,737,885,172 | 41.96% |
| 01/10/2023 00:00:00 | Bitcoin | 525,936,342,995 | 0.29% | 6,232,496,381 | -92.59% |
| 30/09/2023 00:00:00 | Bitcoin | 524,413,138,992 | -0.48% | 12,003,362,757 | -40.26% |
| 02/10/2023 00:00:00 | Ethereum | 208,616,290,408 | 3.71% | 8,849,858,942 | 39.07% |
| 01/10/2023 00:00:00 | Ethereum | 200,867,042,113 | 0.14% | 5,392,381,676 | -107.98% |
| 30/09/2023 00:00:00 | Ethereum | 200,591,326,138 | 0.94% | 11,214,827,247 | -18.25% |
| 02/10/2023 00:00:00 | Tether | 83,251,476,138 | -0.01% | 16,569,712,937 | 35.83% |
| 01/10/2023 00:00:00 | Tether | 83,258,001,885 | -0.01% | 10,632,113,690 | -27.95% |
| 30/09/2023 00:00:00 | Tether | 83,267,971,094 | 0.00% | 13,603,667,615 | -73.88% |
Cryptocurrency Exchanges Volume and Variation
The ‘Exchanges’ data shows a fairly consistent trading volume across key platforms, underscoring stable market activity.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 02/10/2023 00:00:00 | Binance | 161,624 | 26.67% |
| 01/10/2023 00:00:00 | Binance | 118,523 | -53.14% |
| 30/09/2023 00:00:00 | Binance | 181,507 | -21.98% |
| 02/10/2023 00:00:00 | Binance US | 357 | 49.53% |
| 01/10/2023 00:00:00 | Binance US | 180 | -72.95% |
| 30/09/2023 00:00:00 | Binance US | 311 | -32.64% |
| 02/10/2023 00:00:00 | Bitfinex | 3,690 | 66.07% |
| 01/10/2023 00:00:00 | Bitfinex | 1,252 | -150.33% |
| 30/09/2023 00:00:00 | Bitfinex | 3,134 | 14.23% |
| 02/10/2023 00:00:00 | Bybit | 28,851 | 54.06% |
| 01/10/2023 00:00:00 | Bybit | 13,254 | -186.70% |
| 30/09/2023 00:00:00 | Bybit | 37,998 | -12.17% |
| 02/10/2023 00:00:00 | Coinbase | 24,842 | 37.91% |
| 01/10/2023 00:00:00 | Coinbase | 15,425 | -103.67% |
| 30/09/2023 00:00:00 | Coinbase | 31,417 | -38.58% |
| 02/10/2023 00:00:00 | Crypto.com | 9,909 | 35.68% |
| 01/10/2023 00:00:00 | Crypto.com | 6,374 | -104.94% |
| 30/09/2023 00:00:00 | Crypto.com | 13,062 | 1.26% |
| 02/10/2023 00:00:00 | Gate.io | 17,858 | 28.30% |
| 01/10/2023 00:00:00 | Gate.io | 12,804 | -46.11% |
| 30/09/2023 00:00:00 | Gate.io | 18,708 | -21.17% |
| 02/10/2023 00:00:00 | Kraken | 11,347 | 48.92% |
| 01/10/2023 00:00:00 | Kraken | 5,797 | -224.49% |
| 30/09/2023 00:00:00 | Kraken | 18,810 | -3.55% |
| 02/10/2023 00:00:00 | KuCoin | 11,754 | 42.68% |
| 01/10/2023 00:00:00 | KuCoin | 6,737 | -41.54% |
| 30/09/2023 00:00:00 | KuCoin | 9,536 | -6.57% |
| 02/10/2023 00:00:00 | OKX | 27,483 | 43.94% |
| 01/10/2023 00:00:00 | OKX | 15,407 | -91.36% |
| 30/09/2023 00:00:00 | OKX | 29,482 | -21.27% |
Mining – Blockchain Technology
The ‘Mining’ table points to steady activity in terms of difficulty, reward, and hash rates, aligning with the observed overall market pattern.
| Item | 02/10/2023 | 01/10/2023 | 30/09/2023 | 29/09/2023 | 28/09/2023 | 27/09/2023 | 26/09/2023 |
|---|---|---|---|---|---|---|---|
| Difficulty | 57.12T | 57.12T | 57.12T | 57.12T | 57.12T | 57.12T | 57.12T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 810.22K | 810.08K | 809.94K | 809.79K | 809.65K | 809.49K | 809.36K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Reward BTC | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 400.36B | 389.00B | 417.40B | 411.72B | 445.79B | 380.49B | 403.20B |
| Hash Rate GB Variation | 2.84% | -7.30% | 1.36% | -8.28% | 14.65% | -5.97% | -2.11% |
Conclusion
The assessment signifies an optimistic phase in the cryptocurrency market with prices and volumes of major cryptocurrencies exhibiting considerable growth. A steady hash rate underpins miner confidence, while stable trading volumes across key exchanges spell liquidity. The keyword analysis points to viewpoints around Bitcoin’s future price potential and institutional developments like Coinbase securing regulatory licenses.
So What
The current market state implies a favorable environment for participants. High liquidity ensures easier trading and operations, while steady miner activity keeps the network robust. Regulatory progress keeps the ecosystem robust, further boosting investor confidence.
What next?
Given the current trajectory, it is realistic to anticipate further gains in the short-term. As more institutional players enter the space and regulatory clarity shapes up, the foundation for continued growth in the cryptocurrency market is well laid out.
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.
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.
