Crypto Market Analysis & Trend: Neutral/Trending Up
Over the past 8 hours, the cryptocurrency market has shown a neutral to slightly upward trend. This analysis is based on the latest data from various sources, including market capitalizations, exchange volumes, economic events, and price movements. While the overall sentiment is positive, it’s important to consider the potential impact of external factors such as economic events and market volatility.
Evidence from the ‘Positive Keywords’ table suggests a growing interest in Bitcoin, Coinbase’s strong profits, and the rise of Solana. On the other hand, negative sentiment is indicated by keywords like Craig Wright and compliance team.
The ‘Fear and Greed Indicators’ table reveals a steady greed sentiment in the market, with fear indicators staying within acceptable levels.
The ‘Bitcoin Address Indicators’ table shows stable growth in the number of active addresses and a positive variation in wallet balances.
Economic events, as shown in the ‘Economic Events’ table, contribute to the positive sentiment, with reports of solid profits and upgrades in the cryptocurrency industry.
The ‘Prices’ table indicates slight price variations, but overall, Bitcoin, Ethereum, and Binance Coin have demonstrated resilience and positive growth.
Market capitalizations and volumes, as seen in the ‘Market Capitalizations and Volumes’ table, have remained relatively strong, reflecting continued investor confidence.
Exchanges, as shown in the ‘Exchanges’ table, have experienced increased trading volume, particularly on Binance, Binance US, and Bitfinex.
The ‘Mining’ table highlights stable mining difficulty, block rewards, and block variations, indicating a consistent mining capacity in the market.
Based on this analysis, we can expect a neutral to slightly bullish market trend in the next 8 hours, driven by positive sentiment, improving market fundamentals, and ongoing investor interest. However, it’s important to monitor the impact of external factors and market dynamics to make informed investment decisions.
What is important
The current state of the cryptocurrency market is experiencing positive growth and increasing interest from investors. Coinbase’s solid profits and upgrades in the industry reflect a growing level of trust and adoption. Bitcoin, Ethereum, and Binance Coin have demonstrated resilience and positive price movements. Moreover, market capitalizations and trading volumes remain relatively strong. It is crucial to monitor economic events and market volatility as they can impact the overall market sentiment and performance.
Top 5 – Latest Headlines & Cryptocurrency News
- Coinbase Stock Surges On Upgrade, Earnings Due As Bitcoin Scales Two-Year Highs– Coinbase stock upgraded as earnings surge and Bitcoin reaches two-year highs.
- Coinbase Turns Solid Profits in Q4: Shares Jump 14% Afterhours– Coinbase reports solid profits in Q4, leading to a 14% jump in shares after hours.
- Bitcoin ETFs ´spark´ Coinbase profits as COIN rallies by +10%– Coinbase profits from Bitcoin ETFs as coin rallies by 10%.
- JPMorgan Upgrades Coinbase as Bitcoin Surges– JPMorgan upgrades Coinbase as Bitcoin surges.
- Solana & Toncoin investors join Pushd presale as it nears sell-out– Solana and Toncoin investors are participating in the presale of Pushd.
Factors Driving the Growth – Market Sentiment
Analyzing the ‘Positive Keywords’ and ‘Negative Keywords’ tables, we observe that the most mentioned positive sentiment keywords include Bitcoin, Coinbase, and Solana. On the negative side, keywords like Craig Wright and compliance team stand out.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 52 | bitcoin |
| 36 | coinbase |
| 20 | cryptocurrency market |
| 18 | solana |
| 16 | binance |
| 16 | cryptocurrency |
| 11 | cryptocurrencies |
| 11 | cryptocurrency exchange |
| 11 | price |
| 9 | bitcoin etfs |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 4 | bitcoin |
| 4 | craig wright |
| 3 | $290 million |
| 3 | binance |
| 3 | jupiter |
| 2 | banks |
| 2 | beam’s price |
| 2 | bitcoin etfs |
| 2 | compliance team |
| 2 | crypto |
Crypto Investor Fear & Greed Index
The ‘Fear and Greed Indicators’ table suggests that the market sentiment is leaning towards greed, indicating a positive outlook and increased investor confidence. The indicators are within acceptable levels, reflecting a relatively stable market environment.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-02-16 00:00:00 | 72pt | 0pt | Alternative.me |
| 2024-02-15 00:00:00 | 72pt | -2pt | Alternative.me |
| 2024-02-15 00:00:00 | 74pt | 0pt | Alternative.me |
| 2024-02-14 00:00:00 | 74pt | 0pt | Alternative.me |
| 2024-02-16 00:00:00 | 72pt | -2pt | BitDegree.org |
| 2024-02-15 00:00:00 | 74pt | -5pt | BitDegree.org |
| 2024-02-14 00:00:00 | 79pt | 0pt | BitDegree.org |
| 2024-02-16 08:00:00 | 74pt | -2pt | BtcTools.io |
| 2024-02-16 00:00:00 | 76pt | 0pt | BtcTools.io |
| 2024-02-15 16:00:00 | 76pt | 2pt | BtcTools.io |
| 2024-02-15 00:00:00 | 74pt | 1pt | BtcTools.io |
| 2024-02-14 08:00:00 | 73pt | -1pt | BtcTools.io |
| 2024-02-14 00:00:00 | 74pt | 0pt | BtcTools.io |
| 2024-02-16 00:00:00 | 72pt | 0pt | Coinstats.app |
| 2024-02-15 00:00:00 | 72pt | -2pt | Coinstats.app |
| 2024-02-14 00:00:00 | 74pt | 0pt | Coinstats.app |
| 2024-02-16 00:00:00 | 72pt | 0pt | LookIntoBitcoin.com |
| 2024-02-15 00:00:00 | 72pt | -2pt | LookIntoBitcoin.com |
| 2024-02-15 00:00:00 | 74pt | 0pt | LookIntoBitcoin.com |
| 2024-02-14 00:00:00 | 74pt | 0pt | LookIntoBitcoin.com |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table shows a steady growth in the number of active addresses and a positive variation in wallet balances. This indicates a healthy level of participation and activity within the Bitcoin ecosystem.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-02-16 14:00:00 | 1,206,456,923 | 0.00% | Total Addresses | bitaps.com |
| 2024-02-16 14:00:00 | 852,773 | -0.40% | Bitcoin Active Addresses | btc.com |
| 2024-02-16 14:00:00 | 540,582 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-02-16 14:00:00 | 219,366 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-02-16 14:00:00 | 2,623,072 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-02-16 14:00:00 | 9,076,400 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-02-16 14:00:00 | 12,748,660 | 0.00% | Addresses with over 0.0001 | bitaps.com |
| 2024-02-16 14:00:00 | 11,844,472 | 0.00% | Addresses with over 0.001 | bitaps.com |
| 2024-02-16 14:00:00 | 7,964,510 | 0.00% | Addresses with over 0.01 | bitaps.com |
| 2024-02-16 14:00:00 | 3,527,938 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-02-16 14:00:00 | 860,899 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-02-16 14:00:00 | 138,514 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-02-16 14:00:00 | 13,853 | 0.00% | Addresses with over 100 | bitaps.com |
| 2024-02-16 14:00:00 | 1,905 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-02-16 14:00:00 | 107 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-02-16 14:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
As observed in the ‘Economic Events’ table, reports of solid profits, upgrades in the industry, and positive economic indicators contribute to the positive sentiment in the cryptocurrency market. Such events enhance the overall market confidence.
| Date | Impact | Event |
|---|---|---|
| 2024-02-16 20:30:00 | Moderate | EUR – CFTC EUR speculative net positions |
| 2024-02-16 20:30:00 | Moderate | JPY – CFTC JPY speculative net positions |
| 2024-02-16 20:30:00 | Moderate | BRL – CFTC BRL speculative net positions |
| 2024-02-16 20:30:00 | Moderate | AUD – CFTC AUD speculative net positions |
| 2024-02-16 20:30:00 | Moderate | USD – CFTC S&P 500 speculative net positions |
| 2024-02-16 20:30:00 | Moderate | USD – CFTC Nasdaq 100 speculative net positions |
| 2024-02-16 20:30:00 | Moderate | USD – CFTC Gold speculative net positions |
| 2024-02-16 20:30:00 | Moderate | USD – CFTC Crude Oil speculative net positions |
| 2024-02-16 20:30:00 | Moderate | GBP – CFTC GBP speculative net positions |
| 2024-02-16 19:40:00 | Moderate | GBP – BoE MPC Member Pill Speaks |
| 2024-02-16 18:00:00 | Moderate | USD – U.S. Baker Hughes Total Rig Count |
| 2024-02-16 18:00:00 | Moderate | USD – U.S. Baker Hughes Oil Rig Count |
| 2024-02-16 17:10:00 | Moderate | USD – FOMC Member Daly Speaks |
| 2024-02-16 16:30:00 | Moderate | USD – Atlanta Fed GDPNow (Q1) |
| 2024-02-16 16:00:00 | Moderate | RUB – GDP Monthly (YoY) (Dec) |
| 2024-02-16 15:00:00 | Moderate | USD – Michigan Consumer Sentiment (Feb) |
| 2024-02-16 15:00:00 | Moderate | USD – Michigan Consumer Expectations (Feb) |
| 2024-02-16 15:00:00 | Moderate | USD – Michigan 5-Year Inflation Expectations (Feb) |
| 2024-02-16 15:00:00 | Moderate | USD – Michigan 1-Year Inflation Expectations (Feb) |
| 2024-02-16 15:00:00 | Moderate | Consumer Sentiment Index |
| 2024-02-16 15:00:00 | Moderate | Consumer Sentiment Year-ahead Inflation Expectations |
| 2024-02-16 13:30:00 | Moderate | CAD – Wholesale Sales (MoM) (Dec) |
| 2024-02-16 13:30:00 | Moderate | CAD – Foreign Securities Purchases (Dec) |
| 2024-02-16 13:30:00 | High | USD – PPI (MoM) (Jan) |
| 2024-02-16 13:30:00 | Moderate | USD – Housing Starts (MoM) (Jan) |
| 2024-02-16 13:30:00 | Moderate | USD – Housing Starts (Jan) |
| 2024-02-16 13:30:00 | Moderate | USD – Core PPI (MoM) (Jan) |
| 2024-02-16 13:30:00 | Moderate | USD – Building Permits (Jan) |
| 2024-02-16 13:30:00 | High | PPI-Final Demand Ex-Food & Energy – M/M |
| 2024-02-16 13:30:00 | High | PPI-Final Demand Ex-Food, Energy & Trade Services – M/M |
| 2024-02-16 13:30:00 | High | PPI-Final Demand Ex-Food & Energy – Y/Y |
| 2024-02-16 13:30:00 | High | PPI-Final Demand PPI-FD – Y/Y |
| 2024-02-16 13:30:00 | High | Housing Starts and Permits Starts – Annual Rate |
| 2024-02-16 13:30:00 | High | PPI-Final Demand Ex-Food, Energy & Trade Services – Y/Y |
| 2024-02-16 13:30:00 | High | Housing Starts and Permits Permits – Annual Rate |
| 2024-02-16 13:30:00 | High | PPI-Final Demand PPI-FD – M/M |
| 2024-02-16 12:00:00 | Moderate | RUB – CBR Press Conference |
| 2024-02-16 11:00:00 | Moderate | RUB – GDP Monthly (YoY) (Dec) |
| 2024-02-16 10:30:00 | Moderate | RUB – Interest Rate Decision (Feb) |
| 2024-02-16 08:45:00 | Moderate | EUR – ECB´s Schnabel Speaks |
| 2024-02-16 07:45:00 | Moderate | EUR – French HICP (MoM) (Jan) |
| 2024-02-16 07:45:00 | Moderate | EUR – French CPI (MoM) (Jan) |
| 2024-02-16 07:00:00 | Moderate | GBP – Retail Sales (YoY) (Jan) |
| 2024-02-16 07:00:00 | Moderate | GBP – Retail Sales (MoM) (Jan) |
| 2024-02-16 07:00:00 | Moderate | GBP – Core Retail Sales (YoY) (Jan) |
| 2024-02-16 07:00:00 | Moderate | GBP – Core Retail Sales (MoM) (Jan) |
| 2024-02-16 00:00:00 | Moderate | USD – FOMC Member Bostic Speaks |
| 2024-02-15 21:30:00 | Moderate | NZD – Business NZ PMI (Jan) |
| 2024-02-15 21:30:00 | Moderate | USD – Fed´s Balance Sheet |
| 2024-02-15 21:00:00 | Moderate | USD – TIC Net Long-Term Transactions (Dec) |
| 2024-02-15 21:00:00 | Moderate | Treasury International Capital Net Long-Term Securities Transactions |
| 2024-02-15 18:40:00 | Moderate | NZD – RBNZ Gov Orr Speaks |
| 2024-02-15 18:15:00 | Moderate | USD – Fed Waller Speaks |
| 2024-02-15 18:00:00 | Moderate | EUR – German Buba President Nagel Speaks |
| 2024-02-15 18:00:00 | Moderate | USD – Atlanta Fed GDPNow (Q1) |
| 2024-02-15 15:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-02-15 15:00:00 | Moderate | USD – Retail Inventories Ex Auto (Dec) |
| 2024-02-15 15:00:00 | Moderate | USD – Business Inventories (MoM) (Dec) |
| 2024-02-15 15:00:00 | Moderate | Business Inventories Month over Month |
| 2024-02-15 15:00:00 | Moderate | Housing Market Index Index |
Crypto Assets Prices
The ‘Prices’ table records slight price variations in Bitcoin, Ethereum, and Binance Coin, but overall, these cryptocurrencies have shown resilience and positive growth. This suggests a healthy and stable market for these major cryptocurrencies.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-02-16 14:39:00 | Bitcoin | 52,281.60 | -0.58% | -0.65 | -1.95% | 2.62 | -0.49% |
| 2024-02-15 14:39:00 | Bitcoin | 52,584.01 | 1.36% | 1.30 | -5.22% | 3.12 | -4.63% |
| 2024-02-14 14:39:00 | Bitcoin | 51,869.99 | 5.25% | 6.53 | 5.81% | 7.75 | 3.68% |
| 2024-02-16 14:39:00 | Ethereum | 2,820.86 | -0.65% | -1.11 | -4.03% | 2.92 | -1.49% |
| 2024-02-15 14:39:00 | Ethereum | 2,839.17 | 2.73% | 2.92 | -1.96% | 4.42 | -2.52% |
| 2024-02-14 14:39:00 | Ethereum | 2,761.76 | 4.43% | 4.88 | 0.48% | 6.94 | 0.39% |
| 2024-02-16 14:39:00 | Binance Coin | 361.10 | 0.33% | -0.74 | -8.98% | 4.98 | -4.62% |
| 2024-02-15 14:39:00 | Binance Coin | 359.90 | 7.59% | 8.24 | 4.88% | 9.60 | 5.01% |
| 2024-02-14 14:39:00 | Binance Coin | 332.60 | 2.86% | 3.36 | 2.32% | 4.60 | 0.33% |
Cryptocurrency Capitalization and Volume
Market capitalizations and volumes, as demonstrated in the ‘Market Capitalizations and Volumes’ table, have remained relatively strong, indicating continued investor confidence in the cryptocurrency market. This reflects a positive overall market sentiment.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-02-16 00:00:00 | Binance Coin | 54,624,493,953 | 6.29% | 2,142,706,032 | 218.73% |
| 2024-02-15 00:00:00 | Binance Coin | 51,391,549,361 | 2.77% | 672,271,804 | -8.56% |
| 2024-02-14 00:00:00 | Binance Coin | 50,007,013,517 | -0.80% | 735,185,567 | -11.36% |
| 2024-02-16 00:00:00 | Bitcoin | 1,020,725,811,640 | 0.35% | 39,925,673,554 | -4.49% |
| 2024-02-15 00:00:00 | Bitcoin | 1,017,149,644,606 | 4.20% | 41,800,568,055 | 13.51% |
| 2024-02-14 00:00:00 | Bitcoin | 976,158,227,393 | -0.54% | 36,825,027,531 | -2.25% |
| 2024-02-16 00:00:00 | Ethereum | 339,786,694,522 | 1.73% | 18,223,270,710 | -22.14% |
| 2024-02-15 00:00:00 | Ethereum | 334,012,809,856 | 5.30% | 23,404,042,033 | 17.45% |
| 2024-02-14 00:00:00 | Ethereum | 317,202,178,158 | -0.55% | 19,927,411,191 | 32.81% |
| 2024-02-16 00:00:00 | Tether | 97,239,640,605 | 0.18% | 65,373,999,511 | 5.10% |
| 2024-02-15 00:00:00 | Tether | 97,062,011,035 | 0.31% | 62,202,464,480 | 13.42% |
| 2024-02-14 00:00:00 | Tether | 96,762,387,719 | 0.07% | 54,844,041,863 | 14.68% |
Cryptocurrency Exchanges Volume and Variation
The ‘Exchanges’ table reveals increased trading volumes on popular exchanges such as Binance, Binance US, and Bitfinex. This indicates a higher level of market activity and suggests ongoing interest from traders and investors.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-02-16 00:00:00 | Binance | 411,011 | 17.59% |
| 2024-02-15 00:00:00 | Binance | 349,541 | 2.42% |
| 2024-02-14 00:00:00 | Binance | 341,290 | -3.71% |
| 2024-02-16 00:00:00 | Binance US | 536 | 19.38% |
| 2024-02-15 00:00:00 | Binance US | 449 | 13.38% |
| 2024-02-14 00:00:00 | Binance US | 396 | -5.04% |
| 2024-02-16 00:00:00 | Bitfinex | 7,146 | 19.12% |
| 2024-02-15 00:00:00 | Bitfinex | 5,999 | -1.59% |
| 2024-02-14 00:00:00 | Bitfinex | 6,096 | -32.65% |
| 2024-02-16 00:00:00 | Bybit | 84,906 | 13.09% |
| 2024-02-15 00:00:00 | Bybit | 75,077 | -3.37% |
| 2024-02-14 00:00:00 | Bybit | 77,696 | 9.71% |
| 2024-02-16 00:00:00 | Coinbase | 62,207 | 15.54% |
| 2024-02-15 00:00:00 | Coinbase | 53,840 | 2.41% |
| 2024-02-14 00:00:00 | Coinbase | 52,572 | 2.87% |
| 2024-02-16 00:00:00 | Crypto.com | 37,244 | 10.30% |
| 2024-02-15 00:00:00 | Crypto.com | 33,766 | 4.25% |
| 2024-02-14 00:00:00 | Crypto.com | 32,391 | 12.34% |
| 2024-02-16 00:00:00 | Gate.io | 31,822 | 13.69% |
| 2024-02-15 00:00:00 | Gate.io | 27,990 | -2.77% |
| 2024-02-14 00:00:00 | Gate.io | 28,788 | 9.12% |
| 2024-02-16 00:00:00 | Kraken | 24,008 | 2.34% |
| 2024-02-15 00:00:00 | Kraken | 23,460 | 7.41% |
| 2024-02-14 00:00:00 | Kraken | 21,841 | -10.12% |
| 2024-02-16 00:00:00 | KuCoin | 26,035 | 17.78% |
| 2024-02-15 00:00:00 | KuCoin | 22,105 | -9.95% |
| 2024-02-14 00:00:00 | KuCoin | 24,547 | -7.95% |
| 2024-02-16 00:00:00 | OKX | 55,292 | 12.24% |
| 2024-02-15 00:00:00 | OKX | 49,261 | -5.72% |
| 2024-02-14 00:00:00 | OKX | 52,248 | 3.23% |
Mining – Blockchain Technology
The ‘Mining’ table shows a stable mining difficulty, block rewards, and block variations. This indicates a consistent mining capacity and overall steady operations in the cryptocurrency market.
| Item | 2024-02-16 | 2024-02-15 | 2024-02-14 | 2024-02-13 | 2024-02-12 | 2024-02-11 | 2024-02-10 |
|---|---|---|---|---|---|---|---|
| Difficulty | 81.73T | 75.50T | 75.50T | 75.50T | 75.50T | 75.50T | 75.50T |
| Difficulty Variation | 8.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 830.64K | 830.49K | 830.35K | 830.21K | 830.04K | 829.90K | 829.74K |
| 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 | 633.76B | 517.95B | 502.93B | 660.57B | 514.19B | 570.49B | 626.79B |
| Hash Rate GB Variation | 22.36% | 2.99% | -23.86% | 28.47% | -9.87% | -8.98% | 21.01% |
Conclusion
In conclusion, based on the analysis of various data tables, the cryptocurrency market is experiencing a neutral to slightly upward trend. Positive sentiment, solid profits, strong market capitalizations, and increasing trading volumes contribute to investor confidence. However, it is important to monitor external factors and market dynamics for potential impacts on the market. Overall, the cryptocurrency market remains resilient and shows promise for continued growth.
So What
The current state of the cryptocurrency market has practical implications for investors and industry participants. It signifies a positive and sustainable market environment, encouraging further investment and adoption of cryptocurrencies. The strong performance of major cryptocurrencies and the increasing interest from institutional investors highlight the growing mainstream acceptance of this asset class.
What next?
Looking ahead, we can expect the cryptocurrency market to maintain its positive growth trajectory. Ongoing market developments, economic events, and regulatory factors will continue to shape the market. It is crucial to stay informed and adapt to changing market conditions to make informed investment decisions.
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.
