30/09/2023 Crypto Market Analysis & Trend: Low
The cryptocurrency market seems to be experiencing a period of uncertainty in the last 24-hour cycle. The majority of the indicators point in the direction of consolidate market status; with a notably low trend. Key market indicators such as prices, volumes, and capitalization show a negative or stagnant trend on major cryptocurrencies like Bitcoin, Ethereum, and Binance Coin. Particularly, the Fear and Greed indicators reflect a ‘Fear’ sentiment prevailing in the market which might suggest the possibility of further downward price adjustments in the short term. Furthermore, the recent economic events viewed in line with their potential impact on crypto assets also indicate a prevailing caution in the cryptocurrency market. These conditions are further reinforced by the recent increase in negative events headlining the crypto news space.
What is important
From the data presented, market sentiment has been significantly influenced by notable negative events, specifically concerning legal and regulatory hurdles encountered by the major crypto figures. This impact is reflected in all market indicators, most significantly on industry volumes, market cap, and prices. Major cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin are all experiencing stagnant or negative growth in prices, indicating a broader consolidation phase in the market.
Latest Crypto News – Top 5
- Three Arrows Capital Co-Founder Su Zhu Arrested in Singapore– The co-founder of Three Arrows Capital, Su Zhu, has been arrested in Singapore.
- Su Zhu, Co-Founder of Failed Crypto Fund Three Arrows, Arrested in Singapore– Su Zhu, co-founder of failed crypto fund Three Arrows, arrested in Singapore.
- Three Arrows Co-founder Su Zhu Arrested in Singapore– Co-founder of Three Arrows, Su Zhu, arrested in Singapore.
- Three Arrows Founder´s Arrest Marks Downfall of Crypto Highflier– Crypto hedge fund 3AC´s Su Zhu arrested in Singapore; latest enforcement action.
- Three Arrows Capital Co-Founder Su Zhu Jailed for 4 Months– Su Zhu arrested Singapore cryptocurrency market negative impact.
Factors Driving the Growth – Market Sentiment
In the last 24 hours, the ‘Cryptocurrency Market’ and ‘Singapore’ have become frequently mentioned ‘Negative Keywords’, reflecting regulatory issues and legal repercussions experienced by leading figures in the crypto-industry. ‘Positive Keywords’ notably include ‘XRP’, indicating the currency’s resilience in the current market slump.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 6 | xrp |
| 4 | cryptocurrency market |
| 3 | bitcoin |
| 3 | price rally |
| 3 | shiba inu |
| 2 | activity |
| 2 | altcoin |
| 2 | ceo |
| 2 | cryptocurrencies |
| 2 | ethereum |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 10 | singapore |
| 9 | arrested |
| 6 | su zhu |
| 5 | cryptocurrency market |
| 4 | co-founder |
| 4 | sec |
| 3 | crypto hedge fund |
| 3 | cryptocurrencies |
| 3 | ripple |
| 2 | 3ac |
Crypto Fear & Greed Index
The ‘Fear and Greed Indicators’ for the majority of the sources are leaning towards ‘Fear.’ While this index presents an opportunity for risk-tolerant investors, the overall market sentiment remains cautious.
| Date | Value | Variation | Source |
|---|---|---|---|
| 30/09/2023 01:00:00 | 47pt | -1pt | Alternative.me |
| 30/09/2023 00:00:00 | 48pt | 0pt | Alternative.me |
| 29/09/2023 01:00:00 | 48pt | 2pt | Alternative.me |
| 29/09/2023 00:00:00 | 46pt | 0pt | Alternative.me |
| 28/09/2023 00:00:00 | 46pt | 0pt | Alternative.me |
| 30/09/2023 07:00:00 | 47pt | -1pt | BitDegree.org |
| 30/09/2023 00:00:00 | 48pt | 0pt | BitDegree.org |
| 29/09/2023 05:00:00 | 48pt | 2pt | BitDegree.org |
| 29/09/2023 00:00:00 | 46pt | 0pt | BitDegree.org |
| 28/09/2023 07:00:00 | 46pt | 2pt | BitDegree.org |
| 28/09/2023 00:00:00 | 44pt | 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 | -4pt | BtcTools.io |
| 29/09/2023 00:00:00 | 71pt | 3pt | BtcTools.io |
| 28/09/2023 16:00:00 | 68pt | 5pt | BtcTools.io |
| 28/09/2023 08:00:00 | 63pt | -4pt | BtcTools.io |
| 28/09/2023 00:00:00 | 67pt | -1pt | BtcTools.io |
| 27/09/2023 16:00:00 | 68pt | 0pt | BtcTools.io |
| 30/09/2023 00:00:00 | 47pt | -1pt | Coinstats.app |
| 29/09/2023 00:00:00 | 48pt | 2pt | Coinstats.app |
| 28/09/2023 00:00:00 | 46pt | 0pt | Coinstats.app |
| 30/09/2023 00:00:00 | 47pt | -1pt | LookIntoBitcoin.com |
| 29/09/2023 00:00:00 | 48pt | 2pt | LookIntoBitcoin.com |
| 28/09/2023 00:00:00 | 46pt | 0pt | LookIntoBitcoin.com |
| 30/09/2023 01:00:00 | 47pt | -1pt | Milkroad.com |
| 30/09/2023 00:00:00 | 48pt | 0pt | Milkroad.com |
| 29/09/2023 01:00:00 | 48pt | 2pt | Milkroad.com |
| 29/09/2023 00:00:00 | 46pt | 0pt | Milkroad.com |
| 28/09/2023 00:00:00 | 46pt | 0pt | Milkroad.com |
Bitcoin: Active Addresses
The data shows a slight increase in Bitcoin’s active addresses, suggesting a moderate level of activities. Interestingly, the number of BTC addresses holding more than 100 bitcoins has remained fairly stable, indicating that larger investors might be holding their positions despite the current market turbulence.
| Date | Value | Variation | Address | Source |
|---|---|---|---|---|
| 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 |
| 27/09/2023 00:00:00 | 1,060,813 | 0.20% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 26/09/2023 00:00:00 | 1,058,702 | -0.01% | Bitcoin Active Addresses | 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 |
| 27/09/2023 00:00:00 | 12,390,549 | -0.02% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 26/09/2023 00:00:00 | 12,393,639 | -0.04% | Addresses with Balance > 0.01 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 |
| 27/09/2023 00:00:00 | 4,493,939 | 0.02% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 26/09/2023 00:00:00 | 4,492,856 | -0.01% | Addresses with Balance > 0.1 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 |
| 27/09/2023 00:00:00 | 1,021,525 | 0.00% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 26/09/2023 00:00:00 | 1,021,474 | 0.03% | Addresses with Balance > 1 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 |
| 27/09/2023 00:00:00 | 157,284 | -0.08% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 26/09/2023 00:00:00 | 157,417 | 0.08% | Addresses with Balance > 10 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 |
| 27/09/2023 00:00:00 | 15,809 | 0.01% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 26/09/2023 00:00:00 | 15,808 | -0.03% | Addresses with Balance > 100 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 |
| 27/09/2023 00:00:00 | 2,004 | 0.00% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 26/09/2023 00:00:00 | 2,004 | -0.20% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
Economic events to move the cryptocurrency market
A sizable number of moderate impact economic events are underway. Given the current market conditions, even events of moderate impact could have significant influence on the market.
| Date | Impact | Event |
|---|---|---|
| 30/09/2023 14:00:00 | Moderate | BoE MPC Member Cunliffe Speaks |
| 30/09/2023 01:30:00 | Moderate | Non-Manufacturing PMI (Sep) |
| 30/09/2023 01:30:00 | High | Manufacturing PMI |
| 30/09/2023 01:30:00 | Moderate | Chinese Composite PMI (Sep) |
| 29/09/2023 20:30:00 | Moderate | CFTC EUR speculative net positions |
| 29/09/2023 20:30:00 | Moderate | CFTC RUB speculative positions |
| 29/09/2023 20:30:00 | Moderate | CFTC JPY speculative net positions |
| 29/09/2023 20:30:00 | Moderate | CFTC BRL speculative net positions |
| 29/09/2023 20:30:00 | Moderate | CFTC AUD speculative net positions |
| 29/09/2023 20:30:00 | Moderate | CFTC S&P 500 speculative net positions |
| 29/09/2023 20:30:00 | Moderate | CFTC Nasdaq 100 speculative net positions |
| 29/09/2023 20:30:00 | Moderate | CFTC Gold speculative net positions |
| 29/09/2023 20:30:00 | Moderate | CFTC Crude Oil speculative net positions |
| 29/09/2023 20:30:00 | Moderate | CFTC GBP speculative net positions |
| 29/09/2023 17:00:00 | Moderate | U.S. Baker Hughes Total Rig Count |
| 29/09/2023 17:00:00 | Moderate | U.S. Baker Hughes Oil Rig Count |
| 29/09/2023 16:45:00 | Moderate | FOMC Member Williams Speaks |
| 29/09/2023 16:00:00 | Moderate | ECB President Lagarde Speaks |
| 29/09/2023 14:00:00 | Moderate | Michigan Consumer Sentiment (Sep) |
| 29/09/2023 14:00:00 | Moderate | Michigan Consumer Expectations (Sep) |
| 29/09/2023 14:00:00 | Moderate | Michigan 5-Year Inflation Expectations (Sep) |
| 29/09/2023 14:00:00 | Moderate | Michigan 1-Year Inflation Expectations (Sep) |
| 29/09/2023 14:00:00 | Moderate | Consumer Sentiment Index |
| 29/09/2023 14:00:00 | Moderate | Consumer Sentiment Year-ahead Inflation Expectations |
| 29/09/2023 13:45:00 | Moderate | Chicago PMI (Sep) |
| 29/09/2023 13:45:00 | Moderate | Chicago PMI Index |
| 29/09/2023 12:35:00 | Moderate | GDP (MoM) |
| 29/09/2023 12:30:00 | Moderate | GDP (MoM) (Jul) |
| 29/09/2023 12:30:00 | Moderate | Retail Inventories Ex Auto (Aug) |
| 29/09/2023 12:30:00 | Moderate | Personal Spending (MoM) (Aug) |
| 29/09/2023 12:30:00 | Moderate | PCE price index (MoM) (Aug) |
| 29/09/2023 12:30:00 | Moderate | PCE Price index (YoY) (Aug) |
| 29/09/2023 12:30:00 | Moderate | Goods Trade Balance (Aug) |
| 29/09/2023 12:30:00 | High | Core PCE Price Index (YoY) (Aug) |
| 29/09/2023 12:30:00 | High | Core PCE Price Index (MoM) (Aug) |
| 29/09/2023 12:30:00 | High | Personal Income and Outlays PCE Price Index – M/M |
| 29/09/2023 12:30:00 | High | Personal Income and Outlays Personal Income – M/M |
| 29/09/2023 12:30:00 | High | International Trade in Goods [Advance] Imports – M/M |
| 29/09/2023 12:30:00 | High | Personal Income and Outlays PCE Price Index – Y/Y |
| 29/09/2023 12:30:00 | High | Personal Income and Outlays Personal Consumption Expenditures – M/M |
| 29/09/2023 12:30:00 | High | International Trade in Goods [Advance] Exports – M/M |
| 29/09/2023 12:30:00 | High | International Trade in Goods [Advance] Balance |
| 29/09/2023 12:30:00 | High | Personal Income and Outlays Core PCE Price Index – M/M |
| 29/09/2023 12:30:00 | High | Personal Income and Outlays Core PCE Price Index – Y/Y |
| 29/09/2023 12:00:00 | Moderate | Unemployment Rate |
| 29/09/2023 11:30:00 | Moderate | Gross Debt-to-GDP ratio (MoM) (Aug) |
| 29/09/2023 09:00:00 | High | CPI (YoY) (Sep) |
| 29/09/2023 09:00:00 | Moderate | CPI (MoM) |
| 29/09/2023 09:00:00 | Moderate | Core CPI (YoY) |
Cryptocurrency Prices
Most cryptocurrencies including Bitcoin, Ethereum, and Binance Coin have experienced negative or zero price variation, indicating a downward or sideways trend.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 30/09/2023 00:00:00 | Bitcoin | 26,906.96 | -0.43% | -0.59 | -2.76% | 2.17 | -1.49% |
| 29/09/2023 00:00:00 | Bitcoin | 27,021.40 | 2.40% | 2.17 | 1.73% | 3.67 | 0.84% |
| 28/09/2023 00:00:00 | Bitcoin | 26,372.99 | 0.00% | 0.44 | 0.00% | 2.83 | 0.00% |
| 30/09/2023 00:00:00 | Ethereum | 1,667.45 | 0.87% | 0.83 | -2.26% | 2.40 | -1.95% |
| 29/09/2023 00:00:00 | Ethereum | 1,653.00 | 3.29% | 3.09 | 2.84% | 4.36 | 1.16% |
| 28/09/2023 00:00:00 | Ethereum | 1,598.64 | 0.00% | 0.25 | 0.00% | 3.20 | 0.00% |
| 30/09/2023 00:00:00 | Binance Coin | 215.20 | 0.09% | 0.05 | -1.27% | 1.54 | -1.06% |
| 29/09/2023 00:00:00 | Binance Coin | 215.00 | 1.40% | 1.32 | 1.74% | 2.60 | -0.01% |
| 28/09/2023 00:00:00 | Binance Coin | 212.00 | 0.00% | -0.42 | 0.00% | 2.61 | 0.00% |
Cryptocurrency Capitalization and Volume
Major cryptocurrencies’ market cap and volume have observed either negative changes or stagnant growth. This aligns with the overall muted sentiment currently prevalent in the cryptocurrency market.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 30/09/2023 00:00:00 | Binance Coin | 33,082,817,986 | -0.03% | 356,261,551 | -8.80% |
| 29/09/2023 00:00:00 | Binance Coin | 33,092,013,570 | 1.47% | 387,611,228 | -95.53% |
| 28/09/2023 00:00:00 | Binance Coin | 32,606,854,014 | -0.22% | 757,903,861 | 25.95% |
| 30/09/2023 00:00:00 | Bitcoin | 524,413,138,992 | -0.48% | 12,003,362,757 | -40.26% |
| 29/09/2023 00:00:00 | Bitcoin | 526,917,684,460 | 2.51% | 16,836,225,337 | 30.05% |
| 28/09/2023 00:00:00 | Bitcoin | 513,713,645,984 | 0.54% | 11,777,190,591 | 36.83% |
| 30/09/2023 00:00:00 | Ethereum | 200,591,326,138 | 0.94% | 11,214,827,247 | -18.25% |
| 29/09/2023 00:00:00 | Ethereum | 198,707,180,238 | 3.29% | 13,261,383,294 | 55.94% |
| 28/09/2023 00:00:00 | Ethereum | 192,175,393,182 | 0.32% | 5,842,330,875 | 17.60% |
| 30/09/2023 00:00:00 | Tether | 83,267,971,094 | 0.00% | 13,603,667,615 | -73.88% |
| 29/09/2023 00:00:00 | Tether | 83,267,423,242 | 0.09% | 23,653,803,727 | 49.37% |
| 28/09/2023 00:00:00 | Tether | 83,193,672,937 | 0.02% | 11,975,039,134 | -27.49% |
Cryptocurrency Exchanges Volume and Variation
Major crypto exchanges have mostly presented negative volume variations, hinting at dampened market activities.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 30/09/2023 00:00:00 | Binance | 181,507 | -21.98% |
| 29/09/2023 00:00:00 | Binance | 221,396 | 13.16% |
| 28/09/2023 00:00:00 | Binance | 192,269 | 31.61% |
| 30/09/2023 00:00:00 | Binance US | 311 | -32.64% |
| 29/09/2023 00:00:00 | Binance US | 413 | 14.45% |
| 28/09/2023 00:00:00 | Binance US | 353 | 37.90% |
| 30/09/2023 00:00:00 | Bitfinex | 3,134 | 14.23% |
| 29/09/2023 00:00:00 | Bitfinex | 2,688 | -34.55% |
| 28/09/2023 00:00:00 | Bitfinex | 3,617 | 33.56% |
| 30/09/2023 00:00:00 | Bybit | 37,998 | -12.17% |
| 29/09/2023 00:00:00 | Bybit | 42,620 | 11.86% |
| 28/09/2023 00:00:00 | Bybit | 37,566 | 41.63% |
| 30/09/2023 00:00:00 | Coinbase | 31,417 | -38.58% |
| 29/09/2023 00:00:00 | Coinbase | 43,539 | 22.58% |
| 28/09/2023 00:00:00 | Coinbase | 33,707 | 42.33% |
| 30/09/2023 00:00:00 | Crypto.com | 13,062 | 1.26% |
| 29/09/2023 00:00:00 | Crypto.com | 12,898 | 25.36% |
| 28/09/2023 00:00:00 | Crypto.com | 9,627 | 24.10% |
| 30/09/2023 00:00:00 | Gate.io | 18,708 | -21.17% |
| 29/09/2023 00:00:00 | Gate.io | 22,668 | 11.76% |
| 28/09/2023 00:00:00 | Gate.io | 20,003 | 32.24% |
| 30/09/2023 00:00:00 | Kraken | 18,810 | -3.55% |
| 29/09/2023 00:00:00 | Kraken | 19,477 | 1.89% |
| 28/09/2023 00:00:00 | Kraken | 19,108 | 17.36% |
| 30/09/2023 00:00:00 | KuCoin | 9,536 | -6.57% |
| 29/09/2023 00:00:00 | KuCoin | 10,162 | 4.95% |
| 28/09/2023 00:00:00 | KuCoin | 9,659 | 29.66% |
| 30/09/2023 00:00:00 | OKX | 29,482 | -21.27% |
| 29/09/2023 00:00:00 | OKX | 35,753 | 15.74% |
| 28/09/2023 00:00:00 | OKX | 30,126 | 46.68% |
Mining – Blockchain Technology
The data shows a zero-net variation in difficulty level over the last seven days, indicating an expected decrease in the demand for mining. This could also contribute to the prevailing low market trend.
| Item | 30/09/2023 | 29/09/2023 | 28/09/2023 | 27/09/2023 | 26/09/2023 | 25/09/2023 | 24/09/2023 |
|---|---|---|---|---|---|---|---|
| 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 | 809.94K | 809.79K | 809.65K | 809.49K | 809.36K | 809.21K | 809.06K |
| 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 | 417.40B | 411.72B | 445.79B | 380.49B | 403.20B | 411.72B | 442.95B |
| Hash Rate GB Variation | 1.36% | -8.28% | 14.65% | -5.97% | -2.11% | -7.59% | 17.31% |
Conclusion
In conclusion, the recent patterns of incidents and development in the cryptocurrency market with respect to prices, volumes, and capitalization suggest a period of subdued market activity and uncertainty. This condition is further validated by the increasing concerns reflecting in the Fear and Greed Indices, news sentiments, and notable mentions. While these unsettling market situations often present opportunities for investors with a higher risk appetite, they inevitably underscore the need for an increased level of caution.
So What
Given the current market sentiment, individual and institutional investors may consider shoring up risk management strategies, closely monitoring market indicators, and adjusting their investment portfolios as appropriate to mitigate potential risks.
What next?
In the near term, prevailing market conditions would arguably remain uncertain, mainly major cryptocurrencies likely to experience further price consolidations with potentially moderate price variations.
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.
