Oct 13, 2023 Crypto Market Analysis & Trend: Low
In the past few days, the cryptocurrency market has witnessed a significant dip across various tokens and exchanges as observed from various data sets provided.
The persistence of negative keywords and news demonstrates heightened market uncertainty.
The Fear and Greed indicators also point towards prevailing fear in the industry.
Meanwhile, ‘Bitcoin Address Indicators’ demonstrate a decrease in active wallets, possibly related to users shifting their investments elsewhere or choosing to hold onto assets amidst a volatile market.
Despite an increase in some economic events, it appears that these activities have little positive influence on the market’s trajectory.
Altogether, these trends suggest further market downturns within the next eight hours.
What is important
Several indicators suggest that investor confidence in the cryptocurrency market is dwindling.
Fear and Greed indicators have remained consistently low, suggesting extreme fear in the market.
The declining active wallets and volumes across major exchanges reinforce this observation.
Furthermore, negative news associated with prominent cryptocurrencies and exchanges are prevalent.
Amidst these worrying signs, economic activities continue to rise gradually, hinting at potential future recoveries.
Top 5 – Latest Headlines & Cryptocurrency News
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Elliptic: FTX Hacker Laundered Stolen Crypto Funds Through Russian Crime Networks– The article discusses how stolen crypto funds were laundered through Russian crime networks.
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CFTC Sues Former CEO of Bankrupt Crypto Lender Voyager– The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the former CEO of a bankrupt cryptocurrency lender.
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New Clues Suggest Stolen FTX Funds Went to Russia-Linked Money Launderers– The article discusses a hack on FTX crypto exchange and a case of $400 million cryptocurrency laundering.
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Binance customers have traded against themselves with real money for six years– Binance customers have been making losses by trading against themselves for six years
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Changpeng Zhao´s tweet ´contributed´ to collapse of FTX, claims Caroline Ellison– Changpeng Zhao´s tweet about FTX led to major losses for many investors, according to Caroline Ellison.
Factors Driving the Growth – Market Sentiment
Analysis of the ‘Positive Keywords’ and ‘Negative Words’ tables reveals a significantly higher occurrence of negative keywords.
Prominent negative terms include Bitcoin, crypto, and FTX – all of which note contentious matters within the industry.
Fewer positive keywords were observed, and most only occurred twice or less implying a lack of positive reinforcement to counterbalance the extensive negative sentiment.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 4 | bitcoin |
| 3 | ripple |
| 2 | banks |
| 2 | coinbase |
| 2 | dydx |
| 2 | market |
| 2 | revival |
| 2 | uniswap |
| 1 | $175 million |
| 1 | $25,000 |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 13 | bitcoin |
| 9 | crypto |
| 8 | ftx |
| 5 | ftc |
| 4 | cftc |
| 4 | cryptocurrency market |
| 4 | fraud |
| 4 | hack |
| 3 | alameda |
| 3 | attack |
Crypto Investor Fear & Greed Index
The ‘Fear and Greed Indicators’ table indicates a general trend of fear across all sources.
The values range primarily between 25 and 49, which represents ‘fear,’ while some values drop to the ‘extreme fear’ range of 0 to 24.
This widespread fear across sources suggests negative market sentiments.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2023-10-13 00:00:00 | 44pt | -1pt | Alternative.me |
| 2023-10-12 00:00:00 | 45pt | -2pt | Alternative.me |
| 2023-10-12 00:00:00 | 47pt | 0pt | Alternative.me |
| 2023-10-11 00:00:00 | 47pt | -3pt | Alternative.me |
| 2023-10-11 00:00:00 | 50pt | 0pt | Alternative.me |
| 2023-10-13 06:00:00 | 44pt | -1pt | BitDegree.org |
| 2023-10-13 00:00:00 | 45pt | 0pt | BitDegree.org |
| 2023-10-12 14:00:00 | 45pt | -2pt | BitDegree.org |
| 2023-10-12 00:00:00 | 47pt | -3pt | BitDegree.org |
| 2023-10-11 00:00:00 | 50pt | 0pt | BitDegree.org |
| 2023-10-13 08:00:00 | 42pt | 6pt | BtcTools.io |
| 2023-10-13 00:00:00 | 36pt | -6pt | BtcTools.io |
| 2023-10-12 16:00:00 | 42pt | -16pt | BtcTools.io |
| 2023-10-12 08:00:00 | 58pt | -4pt | BtcTools.io |
| 2023-10-12 00:00:00 | 62pt | -2pt | BtcTools.io |
| 2023-10-12 00:00:00 | 64pt | 0pt | BtcTools.io |
| 2023-10-11 16:00:00 | 64pt | -1pt | BtcTools.io |
| 2023-10-11 08:00:00 | 65pt | 2pt | BtcTools.io |
| 2023-10-11 00:00:00 | 63pt | -1pt | BtcTools.io |
| 2023-10-10 16:00:00 | 64pt | 0pt | BtcTools.io |
| 2023-10-13 00:00:00 | 44pt | -1pt | Coinstats.app |
| 2023-10-12 00:00:00 | 45pt | -2pt | Coinstats.app |
| 2023-10-11 00:00:00 | 47pt | 0pt | Coinstats.app |
| 2023-10-13 00:00:00 | 44pt | -1pt | LookIntoBitcoin.com |
| 2023-10-12 00:00:00 | 45pt | -2pt | LookIntoBitcoin.com |
| 2023-10-11 00:00:00 | 47pt | 0pt | LookIntoBitcoin.com |
| 2023-10-13 00:00:00 | 44pt | -1pt | Milkroad.com |
| 2023-10-13 00:00:00 | 45pt | 0pt | Milkroad.com |
| 2023-10-12 00:00:00 | 45pt | -2pt | Milkroad.com |
| 2023-10-12 00:00:00 | 47pt | 0pt | Milkroad.com |
| 2023-10-11 00:00:00 | 47pt | -3pt | Milkroad.com |
| 2023-10-11 00:00:00 | 50pt | 0pt | Milkroad.com |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table details the variations in active addresses and addresses with different Bitcoin balance values.
There’s a consistent decrease in ‘Bitcoin Active Addresses,’ a situation that may reflect a decline in market participation or engagement due to the volatile market condition.
| Date | Value | Variation | Address | Source |
|---|---|---|---|---|
| 2023-10-12 00:00:00 | 887,091 | -0.86% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 2023-10-11 00:00:00 | 894,739 | -0.33% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 2023-10-10 00:00:00 | 897,668 | -2.83% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 2023-10-09 00:00:00 | 923,063 | -1.14% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 2023-10-12 00:00:00 | 12,309,682 | -0.11% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 2023-10-11 00:00:00 | 12,323,138 | -0.17% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 2023-10-10 00:00:00 | 12,343,753 | 0.00% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 2023-10-09 00:00:00 | 12,343,374 | -0.06% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 2023-10-12 00:00:00 | 4,487,570 | -0.01% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 2023-10-11 00:00:00 | 4,487,953 | -0.03% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 2023-10-10 00:00:00 | 4,489,498 | 0.02% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 2023-10-09 00:00:00 | 4,488,516 | 0.02% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 2023-10-12 00:00:00 | 1,019,314 | -0.01% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 2023-10-11 00:00:00 | 1,019,443 | -0.02% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 2023-10-10 00:00:00 | 1,019,649 | 0.01% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 2023-10-09 00:00:00 | 1,019,596 | 0.02% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 2023-10-12 00:00:00 | 157,286 | 0.03% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 2023-10-11 00:00:00 | 157,238 | 0.03% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 2023-10-10 00:00:00 | 157,191 | 0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 2023-10-09 00:00:00 | 157,179 | -0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 2023-10-12 00:00:00 | 15,864 | 0.02% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 2023-10-11 00:00:00 | 15,861 | -0.14% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 2023-10-10 00:00:00 | 15,883 | 0.09% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 2023-10-09 00:00:00 | 15,868 | 0.08% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 2023-10-12 00:00:00 | 2,005 | -0.20% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 2023-10-11 00:00:00 | 2,009 | -0.05% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 2023-10-10 00:00:00 | 2,010 | -0.10% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 2023-10-09 00:00:00 | 2,012 | 0.00% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
Economic events to move the cryptocurrency market
The ‘Economic Events’ table points to an increase in moderation-level events.
This suggests that although there are ongoing activities in the economic space, the current market conditions might limit the positive impact of these events on the wider cryptocurrency market.
| Date | Impact | Event |
|---|---|---|
| 2023-10-13 20:30:00 | Moderate | EUR – CFTC EUR speculative net positions |
| 2023-10-13 20:30:00 | Moderate | RUB – CFTC RUB speculative positions |
| 2023-10-13 20:30:00 | Moderate | JPY – CFTC JPY speculative net positions |
| 2023-10-13 20:30:00 | Moderate | BRL – CFTC BRL speculative net positions |
| 2023-10-13 20:30:00 | Moderate | AUD – CFTC AUD speculative net positions |
| 2023-10-13 20:30:00 | Moderate | USD – CFTC S&P 500 speculative net positions |
| 2023-10-13 20:30:00 | Moderate | USD – CFTC Nasdaq 100 speculative net positions |
| 2023-10-13 20:30:00 | Moderate | USD – CFTC Gold speculative net positions |
| 2023-10-13 20:30:00 | Moderate | USD – CFTC Crude Oil speculative net positions |
| 2023-10-13 20:30:00 | Moderate | GBP – CFTC GBP speculative net positions |
| 2023-10-13 17:00:00 | Moderate | USD – U.S. Baker Hughes Total Rig Count |
| 2023-10-13 17:00:00 | Moderate | USD – Federal Budget Balance (Sep) |
| 2023-10-13 17:00:00 | Moderate | USD – U.S. Baker Hughes Oil Rig Count |
| 2023-10-13 16:30:00 | Moderate | GBP – BoE MPC Member Cunliffe Speaks |
| 2023-10-13 14:00:00 | Moderate | USD – Michigan Consumer Sentiment (Oct) |
| 2023-10-13 14:00:00 | Moderate | USD – Michigan Consumer Expectations (Oct) |
| 2023-10-13 14:00:00 | Moderate | USD – Michigan 5-Year Inflation Expectations (Oct) |
| 2023-10-13 14:00:00 | Moderate | USD – Michigan 1-Year Inflation Expectations (Oct) |
| 2023-10-13 14:00:00 | Moderate | Consumer Sentiment Year-ahead Inflation Expectations |
| 2023-10-13 14:00:00 | Moderate | Consumer Sentiment Index |
| 2023-10-13 13:00:00 | Moderate | EUR – ECB President Lagarde Speaks |
| 2023-10-13 13:00:00 | Moderate | USD – FOMC Member Harker Speaks |
| 2023-10-13 12:30:00 | Moderate | USD – Import Price Index (MoM) (Sep) |
| 2023-10-13 12:30:00 | Moderate | USD – Export Price Index (MoM) (Sep) |
| 2023-10-13 12:30:00 | Moderate | Import and Export Prices Export Prices – M/M |
| 2023-10-13 12:30:00 | Moderate | Import and Export Prices Import Prices – Y/Y |
| 2023-10-13 12:30:00 | Moderate | Import and Export Prices Import Prices – M/M |
| 2023-10-13 12:30:00 | Moderate | Import and Export Prices Export Prices – Y/Y |
| 2023-10-13 09:00:00 | Moderate | EUR – Industrial Production (MoM) (Aug) |
| 2023-10-13 08:00:00 | Moderate | CNY – New Loans (Sep) |
| 2023-10-13 08:00:00 | Moderate | CNY – New Loans |
| 2023-10-13 08:00:00 | Moderate | GBP – BoE Gov Bailey Speaks |
| 2023-10-13 07:00:00 | Moderate | EUR – Spanish HICP (YoY) (Sep) |
| 2023-10-13 07:00:00 | Moderate | EUR – Spanish CPI (YoY) (Sep) |
| 2023-10-13 06:45:00 | Moderate | EUR – German Buba President Nagel Speaks |
| 2023-10-13 06:45:00 | Moderate | EUR – French HICP (MoM) (Sep) |
| 2023-10-13 06:45:00 | Moderate | EUR – French CPI (MoM) (Sep) |
| 2023-10-13 06:30:00 | Moderate | INR – WPI Inflation (YoY) (Sep) |
| 2023-10-13 06:30:00 | Moderate | CHF – PPI (MoM) (Sep) |
| 2023-10-13 05:45:00 | Moderate | EUR – German Buba Vice President Buch Speaks |
| 2023-10-13 05:45:00 | Moderate | EUR – German Buba President Nagel Speaks |
| 2023-10-13 03:00:00 | Moderate | CNY – Trade Balance (USD) (Sep) |
| 2023-10-13 03:00:00 | Moderate | CNY – Imports (YoY) (Sep) |
| 2023-10-13 03:00:00 | Moderate | CNY – Exports (YoY) (Sep) |
| 2023-10-13 01:30:00 | Moderate | CNY – PPI (YoY) (Sep) |
| 2023-10-13 01:30:00 | Moderate | CNY – CPI (MoM) (Sep) |
| 2023-10-13 01:30:00 | Moderate | CNY – CPI (YoY) (Sep) |
| 2023-10-12 21:45:00 | Moderate | NZD – Electronic Card Retail Sales (MoM) (Sep) |
| 2023-10-12 21:30:00 | Moderate | NZD – Business NZ PMI (Sep) |
| 2023-10-12 20:30:00 | Moderate | USD – Fed´s Balance Sheet |
| 2023-10-12 19:00:00 | Moderate | USD – Federal Budget Balance (Sep) |
| 2023-10-12 18:00:00 | Moderate | USD – Federal Budget Balance (Sep) |
| 2023-10-12 18:00:00 | Moderate | Treasury Statement Balance |
| 2023-10-12 17:00:00 | Moderate | USD – FOMC Member Bostic Speaks |
| 2023-10-12 16:00:00 | Moderate | USD – WASDE Report |
| 2023-10-12 15:00:00 | Moderate | USD – Cushing Crude Oil Inventories |
| 2023-10-12 15:00:00 | High | USD – Crude Oil Inventories |
| 2023-10-12 15:00:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 2023-10-12 15:00:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 2023-10-12 15:00:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 2023-10-12 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2023-10-12 12:30:00 | High | USD – Initial Jobless Claims |
| 2023-10-12 12:30:00 | High | USD – CPI (MoM) (Sep) |
| 2023-10-12 12:30:00 | High | USD – CPI (YoY) (Sep) |
| 2023-10-12 12:30:00 | High | USD – Core CPI (MoM) (Sep) |
| 2023-10-12 12:30:00 | Moderate | USD – Core CPI (YoY) (Sep) |
| 2023-10-12 12:30:00 | High | CPI CPI – M/M |
| 2023-10-12 12:30:00 | High | Jobless Claims Initial Claims – Change |
| 2023-10-12 12:30:00 | High | Jobless Claims Initial Claims – Level |
| 2023-10-12 12:30:00 | High | Jobless Claims 4-Week Moving Average |
| 2023-10-12 12:30:00 | High | CPI CPI – Y/Y |
| 2023-10-12 12:30:00 | High | CPI Ex-Food & Energy- Y/Y |
| 2023-10-12 12:30:00 | High | CPI Ex-Food & Energy- M/M |
| 2023-10-12 12:00:00 | Moderate | INR – CPI (YoY) (Sep) |
| 2023-10-12 12:00:00 | Moderate | GBP – NIESR Monthly GDP Tracker |
| 2023-10-12 11:30:00 | Moderate | EUR – ECB Publishes Account of Monetary Policy Meeting |
| 2023-10-12 11:00:00 | Moderate | EUR – ECB´s Panetta Speaks |
| 2023-10-12 11:00:00 | Moderate | USD – OPEC Monthly Report |
| 2023-10-12 09:00:00 | Moderate | CNY – New Loans |
| 2023-10-12 09:00:00 | Moderate | GBP – BoE MPC Member Pill Speaks |
| 2023-10-12 09:00:00 | Moderate | GBP – BoE Deputy Governor Woods Speaks |
| 2023-10-12 08:30:00 | Moderate | GBP – BOE Credit Conditions Survey |
Crypto Assets Prices
From the ‘Prices’ table, a trend of price depreciation across Bitcoin, Ethereum, and Binance Coin is observed.
This reduction in prices aligns with the overall negative sentiment of the market, indicating the effects of market volatility and decreased investor confidence.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2023-10-13 00:00:00 | Bitcoin | 26,759.63 | -0.43% | -0.16 | 1.98% | 1.48 | -2.06% |
| 2023-10-12 00:00:00 | Bitcoin | 26,875.52 | -1.91% | -2.14 | -1.55% | 3.54 | 1.94% |
| 2023-10-11 00:00:00 | Bitcoin | 27,390.11 | 0.00% | -0.59 | 0.00% | 1.60 | 0.00% |
| 2023-10-13 00:00:00 | Ethereum | 1,539.60 | -1.77% | -1.40 | -0.92% | 3.13 | 0.91% |
| 2023-10-12 00:00:00 | Ethereum | 1,566.86 | -0.05% | -0.48 | 0.17% | 2.21 | -0.65% |
| 2023-10-11 00:00:00 | Ethereum | 1,567.63 | 0.00% | -0.65 | 0.00% | 2.86 | 0.00% |
| 2023-10-13 00:00:00 | Binance Coin | 205.10 | -0.73% | -0.34 | 0.29% | 2.22 | 0.21% |
| 2023-10-12 00:00:00 | Binance Coin | 206.60 | -0.97% | -0.63 | -1.94% | 2.01 | -1.59% |
| 2023-10-11 00:00:00 | Binance Coin | 208.60 | 0.00% | 1.31 | 0.00% | 3.60 | 0.00% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table reveals a consistent decrease in both market capitalization and volume across major cryptocurrencies including Bitcoin, Ethereum, and Binance Coin.
This suggests investor withdrawal or reduced trading frequency in the current market.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2023-10-13 00:00:00 | Binance Coin | 31,540,932,571 | -0.70% | 308,932,494 | -18.48% |
| 2023-10-12 00:00:00 | Binance Coin | 31,762,751,583 | -1.14% | 366,032,550 | -51.76% |
| 2023-10-11 00:00:00 | Binance Coin | 32,124,877,056 | 1.44% | 555,476,619 | 14.44% |
| 2023-10-13 00:00:00 | Bitcoin | 521,588,289,411 | -0.40% | 10,741,857,599 | -43.16% |
| 2023-10-12 00:00:00 | Bitcoin | 523,656,381,533 | -2.10% | 15,378,087,705 | 24.34% |
| 2023-10-11 00:00:00 | Bitcoin | 534,655,184,151 | -0.68% | 11,634,746,676 | -15.32% |
| 2023-10-13 00:00:00 | Ethereum | 184,813,440,032 | -1.84% | 9,087,513,205 | 12.27% |
| 2023-10-12 00:00:00 | Ethereum | 188,207,961,818 | -0.19% | 7,972,603,966 | -6.19% |
| 2023-10-11 00:00:00 | Ethereum | 188,564,548,368 | -0.77% | 8,466,032,719 | -27.89% |
| 2023-10-13 00:00:00 | Tether | 83,521,018,604 | 0.03% | 16,721,333,250 | -23.60% |
| 2023-10-12 00:00:00 | Tether | 83,499,673,027 | 0.02% | 20,668,096,596 | 46.60% |
| 2023-10-11 00:00:00 | Tether | 83,483,900,707 | -0.05% | 11,036,501,310 | -81.75% |
Cryptocurrency Exchanges Volume and Variation
The ‘Exchanges’ table shows little-to-negative variations across different exchanges.
The volume, denoting the number of transactions, is consistently decreasing, reinforcing the understanding of low market participation.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2023-10-13 00:00:00 | Binance | 164,468 | -25.28% |
| 2023-10-12 00:00:00 | Binance | 206,039 | 4.54% |
| 2023-10-11 00:00:00 | Binance | 196,687 | -8.87% |
| 2023-10-13 00:00:00 | Binance US | 208 | -55.28% |
| 2023-10-12 00:00:00 | Binance US | 324 | 30.08% |
| 2023-10-11 00:00:00 | Binance US | 226 | -35.12% |
| 2023-10-13 00:00:00 | Bitfinex | 4,542 | -1.08% |
| 2023-10-12 00:00:00 | Bitfinex | 4,591 | 26.53% |
| 2023-10-11 00:00:00 | Bitfinex | 3,373 | -91.53% |
| 2023-10-13 00:00:00 | Bybit | 33,112 | -18.57% |
| 2023-10-12 00:00:00 | Bybit | 39,262 | 10.96% |
| 2023-10-11 00:00:00 | Bybit | 34,960 | -23.07% |
| 2023-10-13 00:00:00 | Coinbase | 23,247 | -49.53% |
| 2023-10-12 00:00:00 | Coinbase | 34,762 | 20.86% |
| 2023-10-11 00:00:00 | Coinbase | 27,512 | -10.93% |
| 2023-10-13 00:00:00 | Crypto.com | 12,203 | -17.62% |
| 2023-10-12 00:00:00 | Crypto.com | 14,354 | 23.58% |
| 2023-10-11 00:00:00 | Crypto.com | 10,969 | -21.24% |
| 2023-10-13 00:00:00 | Gate.io | 16,227 | -30.65% |
| 2023-10-12 00:00:00 | Gate.io | 21,200 | -5.23% |
| 2023-10-13 00:00:00 | Kraken | 17,629 | -18.93% |
| 2023-10-12 00:00:00 | Kraken | 20,967 | 19.24% |
| 2023-10-11 00:00:00 | Kraken | 16,933 | -9.73% |
| 2023-10-13 00:00:00 | KuCoin | 7,856 | -14.98% |
| 2023-10-12 00:00:00 | KuCoin | 9,033 | 20.54% |
| 2023-10-11 00:00:00 | KuCoin | 7,177 | -36.34% |
| 2023-10-13 00:00:00 | OKX | 26,660 | -10.17% |
| 2023-10-12 00:00:00 | OKX | 29,371 | -16.49% |
Mining – Blockchain Technology
From the ‘Mining’ table, it seems that mining activity remains relatively unchanged amidst the downturn.
There’s little variation in difficulty, mined blocks, and reward across different dates.
| Item | 2023-10-13 | 2023-10-12 | 2023-10-10 | 2023-10-09 | 2023-10-08 | 2023-10-07 |
|---|---|---|---|---|---|---|
| Difficulty | 57.32T | 57.32T | 57.32T | 57.32T | 57.32T | 57.32T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 811.93K | 811.77K | 811.45K | 811.29K | 811.14K | 810.97K |
| Blocks Variation | 0.02% | 0.04% | 0.02% | 0.02% | 0.02% | 0.02% |
| Reward BTC | 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% |
| Hash Rate GB | 470.16B | 455.91B | 447.37B | 421.72B | 484.41B | 455.91B |
| Hash Rate GB Variation | 3.03% | 1.88% | 5.73% | -14.86% | 5.88% | 12.50% |
Conclusion
Based on the data analyzed, there’s clear evidence of a trend towards negative investor sentiment, subdued market participation, and price deprecation within the cryptocurrency market.
The reason for this is multi-faceted, including negative news events associated with various cryptocurrencies and exchanges.
Fear and Greed indicators demonstrated prevailing fear in the market, which further validates this negative sentiment.
Additionally, the consistent decline in active wallets and trading volumes may indicate investors’ shifting investments or holding onto assets amidst market volatility.
So What
The current state of the market indicates a trend that may not favor immediate, short-term investments.
The pervasive negative sentiment and declining activity levels suggest that the market may continue to face instability and possibly further declines in the near term.
What next?
Over the next few hours, investors can expect the continuation of the current trend unless a considerable positive shift occurs to counter the prevailing negativity.
It’s crucial for investors to monitor key indicators like Fear and Greed indices, trading volumes, market capitalization, and follow mainstream news for real-time insights into the 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.
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