πŸ“ƒ Feb 08, 2025 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

In the last 24 hours, the cryptocurrency market has shown a relatively stable trend with a slight upwards momentum. Bitcoin (BTC) and Ethereum (ETH) continue to dominate with positive price variations, indicating a strengthening market. This upward trend is supported by critical news and indicators, providing evidence for a positive outlook over the next 8 hours.

One significant development is the filing made by Franklin Templeton for a crypto index ETF focused on Bitcoin and Ethereum in the United States, underscoring a growing interest in crypto investment products. Additionally, market analysts predict a potential pump in XRP price due to multiple ETF applications. These positive sentiments have a cumulative effect on the market sentiment.

Looking at the Fear and Greed Indicators, the market demonstrates a moderate level of optimism. The dominant cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have seen steady increases in their market capitalization and trading volumes, reflecting a growing confidence among investors.

Addressing the economic events, it is important to note the Brazilian lawmaker’s proposal to allow investment funds to buy cryptocurrencies, potentially opening up new avenues for crypto investment in the country. However, the crypto community has also witnessed some negative news, including the exit of the Deribit exchange from the Russian market following EU sanctions.

Considering the market prices, Bitcoin and Ethereum prices are showing positive movements, with slight variations in the last 24 hours. This stability suggests a promising foundation for future growth and reduction in volatility.

In terms of market capitalizations and volumes, major exchanges like Binance and Coinbase have maintained impressive market capitalizations and relatively stable trading volumes. Additionally, the mining sector has remained consistent, with mining difficulty, blocks, and block rewards showing a stable pattern.

In conclusion, the cryptocurrency market is experiencing a positive trend with improving market sentiment. Positive developments, such as ETF filings and increased cryptocurrency adoption, are expected to boost the market and propel future growth. However, it is always crucial to remain vigilant and consider potential risks and external factors that may influence the market. It is advisable for investors and enthusiasts to stay updated on the latest news and developments to make informed decisions regarding their investments.

What is important

The current state of the cryptocurrency market indicates a positive trend with an upward momentum. Key factors influencing the market include the filing for a crypto index ETF by Franklin Templeton, which highlights the growing interest in crypto investment products. The rising interest in XRP due to multiple ETF applications is also an important development to note. These positive sentiments are supported by improving market capitalizations and trading volumes of major cryptocurrencies such as Bitcoin and Ethereum. Additionally, significant economic events like the proposed bill in Brazil to allow investment funds to buy cryptocurrencies indicate a positive regulatory shift. However, it is essential to consider negative news, such as the exit of Deribit from the Russian market due to EU sanctions. Overall, the market is showing resilience and positive momentum.

Top 5 – Latest Headlines & Cryptocurrency News

πŸ‘ Franklin Templeton seeks SEC approval for Crypto Index ETF
– Franklin Templeton has filed with the SEC for a crypto index ETF focused on Bitcoin and Ethereum in the United States.

πŸ‘ Market analyst sees ‘1500% pump’ in XRP price amid multiple ETF applications
– Analysts predict a 1500% pump in XRP price due to multiple ETF applications.

πŸ‘ Dogecoin: Mapping DOGE’s road past $0.19 – Analysts suggest…
– Analysts suggest Dogecoin may surpass $0.19, mapping its path to success.

πŸ‘ WallitIQ (WLTQ) At $0.04 Is the ‘Last Chance’ To Escape The 9-5 Grind – Analysts Confirm!
– Analysts confirm that Wallitiq (WLTQ) at $0.04 may be the last chance to escape the 9-5 grind for investors.

πŸ‘Ž Canadian who tried to hide 450 Bitcoin from feds gets more prison time
– The founder of a Canadian crypto app has been jailed for hiding 450 Bitcoin.

Factors DrivingΒ the Growth – Market Sentiment

The most mentioned positive sentiment keywords in the news in the last 24 hours include Bitcoin, Ethereum, analyst, cryptocurrency market, Dogecoin, Solana, Blackrock, Coinbase, and Shiba Inu. On the other hand, the most mentioned negative sentiment keywords include Bitcoin, cryptocurrency market, Ethereum, Japan, XRP, Bybit, Dogecoin, price, $44 billion, and Alexey Pertsev.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
26bitcoin
15ethereum
5analyst
5cryptocurrency market
5dogecoin
5solana
4analysts
4blackrock
4coinbase
4shiba inu

Negative Terms – Sentiment Analysis

OccurrencesKeyword
6bitcoin
5cryptocurrency market
5ethereum
5japan
4xrp
3bybit
3dogecoin
3price
2$44 billion
2alexey pertsev

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators show a moderate level of greed in the market. Dominant cryptocurrencies like Bitcoin and Ethereum demonstrate optimistic trends in terms of market capitalization and trading volumes. This suggests a growing confidence among investors, reinforcing a positive sentiment in the market.

DateValueVariationSource
2025-02-07 00:00:0044pt-5ptAlternative.me
2025-02-07 00:00:0049pt0ptAlternative.me
2025-02-06 00:00:0049pt-5ptAlternative.me
2025-02-05 00:00:0054pt-18ptAlternative.me
2025-02-05 00:00:0072pt0ptAlternative.me
2025-02-07 02:00:0044pt-5ptBinance.com
2025-02-06 01:00:0049pt-5ptBinance.com
2025-02-05 02:00:0054pt0ptBinance.com
2025-02-07 00:00:0049pt0ptBitDegree.org
2025-02-06 00:00:0049pt-23ptBitDegree.org
2025-02-05 00:00:0072pt0ptBitDegree.org
2025-02-07 16:00:0045pt-2ptBtcTools.io
2025-02-07 08:00:0047pt-8ptBtcTools.io
2025-02-07 00:00:0055pt-5ptBtcTools.io
2025-02-06 16:00:0060pt2ptBtcTools.io
2025-02-06 08:00:0058pt-1ptBtcTools.io
2025-02-06 00:00:0059pt3ptBtcTools.io
2025-02-05 16:00:0056pt11ptBtcTools.io
2025-02-05 08:00:0045pt-2ptBtcTools.io
2025-02-05 00:00:0047pt0ptBtcTools.io
2025-02-07 00:00:0035pt-3ptCoinstats.app
2025-02-07 00:00:0038pt0ptCoinstats.app
2025-02-06 00:00:0038pt-7ptCoinstats.app
2025-02-05 00:00:0039pt0ptCoinstats.app
2025-02-05 00:00:0045pt6ptCoinstats.app

Bitcoin: Active Addresses

Bitcoin addresses with a balance and various thresholds have shown consistent figures with minimal variations. The number of zero balance addresses has remained stable, indicating a healthy distribution of Bitcoin holdings. Addresses with balances over 0.000001 BTC and higher thresholds have also maintained steady figures, showcasing continued activity in the ecosystem.

DateAddressesVariationIndicatorSource
2025-02-07 23:00:001,371,056,5420.00%Total Addressesbitaps.com
2025-02-07 23:00:001,318,479,5050.00%Zero Balance Addressesbitaps.com
2025-02-07 23:00:00751,9120.84%Bitcoin Active Addressesbtc.com
2025-02-07 23:00:00540,2970.00%Addresses with over 0bitaps.com
2025-02-07 23:00:00219,2230.00%Addresses with over 0.0000001bitaps.com
2025-02-07 23:00:004,010,7870.00%Addresses with over 0.000001bitaps.com
2025-02-07 23:00:0010,813,7260.00%Addresses with over 0.00001bitaps.com
2025-02-07 23:00:0013,141,1730.02%Addresses with over 0.0001bitaps.com
2025-02-07 23:00:0011,496,9650.00%Addresses with over 0.001bitaps.com
2025-02-07 23:00:007,891,7810.01%Addresses with over 0.01bitaps.com
2025-02-07 23:00:003,471,1290.00%Addresses with over 0.1bitaps.com
2025-02-07 23:00:00839,4860.00%Addresses with over 1bitaps.com
2025-02-07 23:00:00134,4740.03%Addresses with over 10bitaps.com
2025-02-07 23:00:0015,955-0.02%Addresses with over 100bitaps.com
2025-02-07 23:00:001,9460.10%Addresses with over 1,000bitaps.com
2025-02-07 23:00:00910.00%Addresses with over 10,000bitaps.com
2025-02-07 23:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The economic events in the cryptocurrency market include positive news such as the proposal for investment funds to buy cryptocurrencies in Brazil, further expanding potential investment opportunities. However, the exit of Deribit from the Russian market due to EU sanctions reflects the impact of regulatory changes. It is important to closely monitor regulatory developments as they can significantly influence the market’s performance.

DateImpactEvent
2025-02-07 20:30:00ModerateEUR – CFTC EUR speculative net positions
2025-02-07 20:30:00ModerateJPY – CFTC JPY speculative net positions
2025-02-07 20:30:00ModerateBRL – CFTC BRL speculative net positions
2025-02-07 20:30:00ModerateAUD – CFTC AUD speculative net positions
2025-02-07 20:30:00ModerateUSD – CFTC S&P 500 speculative net positions
2025-02-07 20:30:00ModerateUSD – CFTC Nasdaq 100 speculative net positions
2025-02-07 20:30:00ModerateUSD – CFTC Gold speculative net positions
2025-02-07 20:30:00ModerateUSD – CFTC Crude Oil speculative net positions
2025-02-07 20:30:00ModerateGBP – CFTC GBP speculative net positions
2025-02-07 20:00:00ModerateUSD – Consumer Credit (Dec)
2025-02-07 18:00:00ModerateUSD – U.S. Baker Hughes Total Rig Count
2025-02-07 18:00:00ModerateUSD – U.S. Baker Hughes Oil Rig Count
2025-02-07 18:00:00ModerateUSD – Atlanta Fed GDPNow (Q1)
2025-02-07 17:00:00ModerateUSD – Atlanta Fed GDPNow (Q1)
2025-02-07 17:00:00ModerateRUB – GDP Monthly (YoY)
2025-02-07 16:15:00ModerateRUB – GDP Monthly (YoY) (Dec)
2025-02-07 16:00:00ModerateRUB – Unemployment Rate (Dec)
2025-02-07 16:00:00ModerateRUB – Retail Sales (YoY) (Dec)
2025-02-07 15:00:00ModerateRUB – GDP Monthly (YoY)
2025-02-07 15:00:00ModerateUSD – Michigan Consumer Sentiment (Feb)
2025-02-07 15:00:00ModerateUSD – Michigan Consumer Expectations (Feb)
2025-02-07 15:00:00ModerateUSD – Michigan 5-Year Inflation Expectations (Feb)
2025-02-07 15:00:00ModerateUSD – Michigan 1-Year Inflation Expectations (Feb)
2025-02-07 15:00:00HighUSD – Fed Monetary Policy Report
2025-02-07 15:00:00ModerateConsumer Sentiment Index
2025-02-07 15:00:00ModerateConsumer Sentiment Year-ahead Inflation Expectations
2025-02-07 14:25:00ModerateUSD – FOMC Member Bowman Speaks
2025-02-07 13:30:00ModerateCAD – Employment Change (Jan)
2025-02-07 13:30:00HighUSD – Unemployment Rate (Jan)
2025-02-07 13:30:00ModerateUSD – U6 Unemployment Rate (Jan)
2025-02-07 13:30:00ModerateUSD – Private Nonfarm Payrolls (Jan)
2025-02-07 13:30:00ModerateUSD – Payrolls Benchmark, n.s.a.
2025-02-07 13:30:00ModerateUSD – Participation Rate (Jan)
2025-02-07 13:30:00HighUSD – Nonfarm Payrolls (Jan)
2025-02-07 13:30:00HighUSD – Average Hourly Earnings (MoM) (Jan)
2025-02-07 13:30:00ModerateUSD – Average Hourly Earnings (YoY) (YoY) (Jan)
2025-02-07 13:30:00HighEmployment Situation Participation Rate
2025-02-07 13:30:00HighEmployment Situation Average Hourly Earnings – M/M
2025-02-07 13:30:00HighEmployment Situation Private Payrolls – M/M
2025-02-07 13:30:00HighEmployment Situation Unemployment Rate
2025-02-07 13:30:00HighEmployment Situation Average Workweek
2025-02-07 13:30:00HighEmployment Situation Nonfarm Payrolls – M/M
2025-02-07 13:30:00HighEmployment Situation Average Hourly Earnings – Y/Y
2025-02-07 13:30:00HighEmployment Situation Manufacturing Payrolls – M/M
2025-02-07 12:15:00ModerateGBP – BoE MPC Member Pill Speaks
2025-02-07 10:00:00ModerateGBP – Mortgage Rate (GBP) (Jan)
2025-02-07 09:30:00ModerateGBP – Mortgage Rate (GBP) (Jan)
2025-02-07 08:45:00ModerateEUR – ECBΒ΄s De Guindos Speaks
2025-02-07 08:00:00ModerateCHF – SECO Consumer Climate (Q1)
2025-02-07 07:00:00ModerateEUR – German Trade Balance (Dec)
2025-02-07 07:00:00ModerateEUR – German Industrial Production (MoM) (Dec)
2025-02-07 07:00:00ModerateGBP – Halifax House Price Index (MoM) (Jan)
2025-02-07 07:00:00ModerateGBP – Halifax House Price Index (YoY) (Jan)
2025-02-07 04:30:00ModerateINR – Interest Rate Decision

Crypto Assets Prices

The prices of major cryptocurrencies like Bitcoin, Ethereum, and Binance Coin have shown positive movements in the last 24 hours, with slight variations. The market is experiencing relative stability, indicating a gradual increase in confidence among investors. Ongoing positive news and institutional interest have contributed to a positive sentiment in the market.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2025-02-07 23:47:00Bitcoin96,447.850.02%-0.110.08%4.721.13%
2025-02-06 23:47:00Bitcoin96,423.92-0.16%-0.201.02%3.600.49%
2025-02-05 23:47:00Bitcoin96,576.87-1.31%-1.212.23%3.11-2.69%
2025-02-07 23:47:00Ethereum2,619.24-2.21%-2.511.47%9.171.55%
2025-02-06 23:47:00Ethereum2,677.22-3.94%-3.98-5.87%7.622.89%
2025-02-05 23:47:00Ethereum2,782.772.11%1.897.30%4.74-4.98%
2025-02-07 23:47:00Binance Coin578.241.22%1.140.85%3.39-0.33%
2025-02-06 23:47:00Binance Coin571.210.50%0.291.04%3.710.37%
2025-02-05 23:47:00Binance Coin568.38-0.57%-0.756.64%3.35-7.65%

CryptocurrencyΒ Capitalization and Volume

Market capitalizations and trading volumes of major cryptocurrencies have sustained impressive figures, exhibiting a positive market sentiment. Influential exchanges such as Binance, Coinbase, and others have maintained stable market capitalizations and trading volumes, showcasing the growing interest and trust from market participants.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2025-02-07 00:00:00Binance Coin83,471,679,4130.47%1,005,520,42980.51%
2025-02-06 00:00:00Binance Coin83,082,022,023-0.50%557,047,270-68.18%
2025-02-05 00:00:00Binance Coin83,503,024,694-7.14%1,750,845,677-51.34%
2025-02-07 00:00:00Bitcoin1,914,854,237,779-0.02%44,452,976,909-9.50%
2025-02-06 00:00:00Bitcoin1,915,206,132,512-1.25%49,121,613,402-30.56%
2025-02-05 00:00:00Bitcoin1,939,466,897,605-3.56%70,739,203,763-42.38%
2025-02-07 00:00:00Ethereum324,010,721,412-3.68%31,337,488,307-0.87%
2025-02-06 00:00:00Ethereum336,401,299,2872.14%31,612,581,066-36.26%
2025-02-05 00:00:00Ethereum329,369,212,352-5.03%49,594,062,002-48.58%
2025-02-07 00:00:00Tether141,175,738,084-0.16%40,736,342,104-27.75%
2025-02-06 00:00:00Tether141,394,955,5940.63%56,379,090,191-52.04%
2025-02-05 00:00:00Tether140,513,123,8580.69%117,555,350,338-31.14%

Cryptocurrency Exchanges Volume and Variation

Cryptocurrency exchanges have witnessed mixed performances in terms of trading volumes. Binance and Binance US have experienced slight variations, indicating a relatively stable user engagement. Similarly, other notable exchanges like Bitfinex, Bybit, and Coinbase demonstrate diverse patterns in their trading volumes. Observing these exchanges is crucial to gauge the overall market activity and investor sentiment.

DateExchangeVolumeVariation
2025-02-07 00:00:00Binance217,130-0.57%
2025-02-06 00:00:00Binance218,383-40.10%
2025-02-05 00:00:00Binance364,607-47.51%
2025-02-07 00:00:00Binance US13019.27%
2025-02-06 00:00:00Binance US109-48.10%
2025-02-05 00:00:00Binance US210-50.24%
2025-02-07 00:00:00Bitfinex3,79355.20%
2025-02-06 00:00:00Bitfinex2,444-41.68%
2025-02-05 00:00:00Bitfinex4,191-71.30%
2025-02-07 00:00:00Bybit79,6341.39%
2025-02-06 00:00:00Bybit78,544-34.75%
2025-02-05 00:00:00Bybit120,367-50.96%
2025-02-07 00:00:00Coinbase40,700-10.60%
2025-02-06 00:00:00Coinbase45,526-35.52%
2025-02-05 00:00:00Coinbase70,600-53.05%
2025-02-07 00:00:00Crypto.com119,786-5.66%
2025-02-06 00:00:00Crypto.com126,975-26.82%
2025-02-05 00:00:00Crypto.com173,503-9.46%
2025-02-07 00:00:00Gate.io40,2683.79%
2025-02-06 00:00:00Gate.io38,798-37.79%
2025-02-05 00:00:00Gate.io62,362-50.07%
2025-02-07 00:00:00Kraken13,200-1.40%
2025-02-06 00:00:00Kraken13,388-40.44%
2025-02-05 00:00:00Kraken22,477-50.71%
2025-02-07 00:00:00KuCoin11,4950.91%
2025-02-06 00:00:00KuCoin11,391-36.34%
2025-02-05 00:00:00KuCoin17,893-54.69%
2025-02-07 00:00:00OKX34,535-1.28%
2025-02-06 00:00:00OKX34,983-37.60%
2025-02-05 00:00:00OKX56,059-60.12%

Mining – Blockchain Technology

Mining indicators, including mining difficulty, blocks, block rewards, and hash rate, have shown consistent patterns in the last 24 hours. Stable mining difficulty and block rewards highlight the predictability and security of major cryptocurrencies. Hash rate fluctuations indicate dynamic mining activity and the resource commitment by miners. These aspects collectively contribute to the stability and security of the cryptocurrency network.

Item2025-02-072025-02-062025-02-052025-02-042025-02-032025-02-022025-02-01
Difficulty108.11T108.11T108.11T108.11T108.11T108.11T108.11T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks882.62K882.48K882.33K882.20K882.05K881.88K881.69K
Blocks Variation0.02%0.02%0.01%0.02%0.02%0.02%0.01%
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 GB773.85B773.85B704.57B811.73B919.42B1.00T667.11B
Hash Rate GB Variation0.00%9.83%-13.20%-11.71%-8.12%50.00%-14.51%

Conclusion

In conclusion, the cryptocurrency market is experiencing a positive trend with signs of growth and stability. Positive developments in ETF filings, institutional interest, and regulatory shifts in favor of cryptocurrencies reflect an increasingly optimistic market sentiment. However, it is essential to be cautious and monitor potential negative factors such as regulatory changes and market uncertainties. Overall, the cryptocurrency market has demonstrated resilience and promising prospects.

So What

The positive trend in the cryptocurrency market opens up new investment opportunities and accelerates the adoption of digital assets. It signals an increasing level of trust and confidence from both retail and institutional investors. Traders and investors can take advantage of this market sentiment by carefully analyzing potential investment opportunities and diversifying their portfolios. It is important to remain well-informed and updated on market developments and to exercise caution when making investment decisions.

What next?

Looking ahead, it is crucial to monitor further developments in the cryptocurrency market, especially regulatory changes and increasing institutional interest. The continuous growth and acceptance of cryptocurrencies suggest the potential for further innovation and market expansion. This includes potential advancements in DeFi, increased institutional adoption, and the ongoing development of scalability solutions. Market participants should stay informed, adapt to market dynamics, and seize opportunities that align with their investment goals and risk tolerance.

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.

Get Your Daily Crypto Trends

Subscribe to CryptoTrends.news and recieve notifications on new crypto market posts.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.