Crypto Market Analysis & Trend: Neutral/Trending Down
In the last 8 hours, the cryptocurrency market has shown a neutral to trending down trend. Based on the analysis of various data tables, we observe evidence that suggests a potential decrease in market sentiment and activity. However, it is important to consider the limitations of predicting short-term market trends, as the cryptocurrency market is highly volatile and subject to multiple factors. With a moderate level of confidence, we anticipate a continuation of the current trend within the next 8 hours.
What is important
Currently, several factors are influencing the state of the cryptocurrency market. The negative sentiment surrounding the potential rejection of Bitcoin ETFs by the SEC and its impact on market prices has caused some concerns among investors. Additionally, the performance of major cryptocurrencies such as Bitcoin, Ethereum, and Solana, coupled with the dominance of Bitcoin in terms of price and performance, is worth noting. The ongoing developments in the cryptocurrency market, including regulatory decisions and the introduction of new platforms, contribute to the dynamics of the market.
Top 5 – Latest Headlines & Cryptocurrency News
- The ´Rug Pull Of The Decade´—Bitcoin ETF Denial Fears Suddenly Crash The Price Of Bitcoin, Ethereum, XRP And Solana– Bitcoin, Ethereum, XRP, and Solana prices crash due to fears of Bitcoin ETF denial.
- Matrixport Report Says SEC Unlikely to Approve Spot Bitcoin ETFs in January, Price to Drop Below $40,000– Matrixport report predicts SEC´s unlikely approval of spot Bitcoin ETFs in January, leading to a price drop below $40,000.
- SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report– The SEC is expected to reject Bitcoin spot ETFs again, according to a report by Matrixport.
- Shocking Report from Matrixport: SEC Will Reject Spot Bitcoin ETFs!– The SEC is expected to reject spot Bitcoin ETFs, according to a report from Matrixport.
- The SEC Will Not Approve Spot Bitcoin ETFs in January: Matrixport– The SEC will not approve spot Bitcoin ETFs in January, according to Matrixport.
Factors Driving the Growth – Market Sentiment
Analysis of the ‘Positive Keywords’ and ‘Negative Keywords’ tables reveals that Bitcoin, cryptocurrencies, SEC, ETF, and price are among the most frequently mentioned keywords. Negative sentiment surrounding SEC decisions and potential price volatility is evident in the news. However, positive keywords such as Ethereum’s dominance and Bitcoin surpassing $50,000 indicate some positive sentiment.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 67 | bitcoin |
| 23 | cryptocurrency market |
| 21 | binance |
| 20 | solana |
| 14 | ethereum |
| 13 | 2024 |
| 13 | cardano |
| 12 | cryptocurrency exchange |
| 12 | ripple |
| 11 | bitcoin etf |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 53 | bitcoin |
| 22 | sec |
| 16 | matrixport |
| 12 | cryptocurrency market |
| 12 | price |
| 11 | bitcoin etf |
| 10 | radiant capital |
| 8 | etf |
| 7 | bitcoin price |
| 7 | crypto market |
Crypto Investor Fear & Greed Index
The ‘Fear and Greed Indicators’ table provides insights into the market sentiment. Currently, the indicators suggest a neutral to slightly fearful sentiment among investors. With the majority of indicators falling within the ‘fear’ range, caution is advised. However, it is important to note that sentiment can change rapidly in the cryptocurrency market.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-01-04 00:00:00 | 68pt | -2pt | Alternative.me |
| 2024-01-04 00:00:00 | 70pt | 0pt | Alternative.me |
| 2024-01-03 00:00:00 | 70pt | -1pt | Alternative.me |
| 2024-01-03 00:00:00 | 71pt | 0pt | Alternative.me |
| 2024-01-02 00:00:00 | 65pt | 0pt | Alternative.me |
| 2024-01-02 00:00:00 | 71pt | 6pt | Alternative.me |
| 2024-01-04 00:00:00 | 70pt | -1pt | BitDegree.org |
| 2024-01-03 00:00:00 | 71pt | 6pt | BitDegree.org |
| 2024-01-02 00:00:00 | 65pt | 0pt | BitDegree.org |
| 2024-01-04 00:00:00 | 37pt | 0pt | BtcTools.io |
| 2024-01-03 16:00:00 | 37pt | -23pt | BtcTools.io |
| 2024-01-03 08:00:00 | 60pt | -3pt | BtcTools.io |
| 2024-01-03 00:00:00 | 63pt | -2pt | BtcTools.io |
| 2024-01-02 16:00:00 | 65pt | 2pt | BtcTools.io |
| 2024-01-02 08:00:00 | 63pt | 5pt | BtcTools.io |
| 2024-01-02 00:00:00 | 58pt | 6pt | BtcTools.io |
| 2024-01-01 08:00:00 | 52pt | 0pt | BtcTools.io |
| 2024-01-04 00:00:00 | 68pt | -2pt | Coinstats.app |
| 2024-01-03 00:00:00 | 70pt | -1pt | Coinstats.app |
| 2024-01-02 00:00:00 | 71pt | 0pt | Coinstats.app |
Bitcoin: Active Addresses
Analysis of the ‘Bitcoin Address Indicators’ table indicates an increase in active addresses and a stable quantity of wallet addresses based on balance values. The data suggests a consistent level of activity in the Bitcoin network, which is indicative of continued interest and engagement in the cryptocurrency.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-01-04 03:00:00 | 1,199,639,897 | 0.00% | Total Addresses | bitaps.com |
| 2024-01-04 03:00:00 | 1,149,798,162 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-01-04 03:00:00 | 964,864 | 1.96% | Bitcoin Active Addresses | btc.com |
| 2024-01-04 03:00:00 | 540,539 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-01-04 03:00:00 | 219,362 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-01-04 03:00:00 | 2,597,314 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-01-04 03:00:00 | 8,984,309 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-01-04 03:00:00 | 12,853,081 | -0.01% | Addresses with over 0.0001 | bitaps.com |
| 2024-01-04 03:00:00 | 12,026,734 | -0.02% | Addresses with over 0.001 | bitaps.com |
| 2024-01-04 03:00:00 | 8,068,696 | 0.00% | Addresses with over 0.01 | bitaps.com |
| 2024-01-04 03:00:00 | 3,532,381 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-01-04 03:00:00 | 864,540 | 0.01% | Addresses with over 1 | bitaps.com |
| 2024-01-04 03:00:00 | 138,849 | -0.04% | Addresses with over 10 | bitaps.com |
| 2024-01-04 03:00:00 | 13,917 | 0.06% | Addresses with over 100 | bitaps.com |
| 2024-01-04 03:00:00 | 1,906 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-01-04 03:00:00 | 103 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-01-04 03:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The ‘Economic Events’ table highlights various economic indicators that may impact the cryptocurrency market. Of particular interest are the employment data and reports from leading financial institutions, which can influence investor sentiment and market trends. Monitoring these economic events can provide valuable insights into the overall direction of the cryptocurrency market.
| Date | Impact | Event |
|---|---|---|
| 2024-01-05 15:00:00 | Moderate | ISM Services Index Index |
| 2024-01-05 15:00:00 | Moderate | Factory Orders Month over Month |
| 2024-01-05 13:30:00 | High | Employment Situation Average Hourly Earnings – M/M |
| 2024-01-05 13:30:00 | High | Employment Situation Participation Rate |
| 2024-01-05 13:30:00 | High | Employment Situation Nonfarm Payrolls – M/M |
| 2024-01-05 13:30:00 | High | Employment Situation Unemployment Rate |
| 2024-01-05 13:30:00 | High | Employment Situation Average Hourly Earnings – Y/Y |
| 2024-01-05 13:30:00 | High | Employment Situation Private Payrolls – M/M |
| 2024-01-05 13:30:00 | High | Employment Situation Manufacturing Payrolls – M/M |
| 2024-01-05 13:30:00 | High | Employment Situation Average Workweek |
| 2024-01-04 21:30:00 | Moderate | USD – Fed´s Balance Sheet |
| 2024-01-04 16:00:00 | Moderate | USD – Cushing Crude Oil Inventories |
| 2024-01-04 16:00:00 | High | USD – Crude Oil Inventories |
| 2024-01-04 16:00:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 2024-01-04 16:00:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 2024-01-04 16:00:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 2024-01-04 15:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-01-04 14:45:00 | High | USD – S&P Global Services PMI (Dec) |
| 2024-01-04 14:45:00 | Moderate | USD – S&P Global Composite PMI (Dec) |
| 2024-01-04 13:30:00 | High | USD – Initial Jobless Claims |
| 2024-01-04 13:30:00 | Moderate | USD – Continuing Jobless Claims |
| 2024-01-04 13:30:00 | High | Jobless Claims Initial Claims – Change |
| 2024-01-04 13:30:00 | High | Jobless Claims Initial Claims – Level |
| 2024-01-04 13:30:00 | High | Jobless Claims 4-Week Moving Average |
| 2024-01-04 13:15:00 | High | USD – ADP Nonfarm Employment Change (Dec) |
| 2024-01-04 13:15:00 | Moderate | ADP Employment Report Private Payrolls – M/M |
| 2024-01-04 13:00:00 | Moderate | EUR – German CPI (YoY) (Dec) |
| 2024-01-04 13:00:00 | High | EUR – German CPI (MoM) (Dec) |
| 2024-01-04 09:30:00 | Moderate | GBP – S&P Global/CIPS UK Services PMI (Dec) |
| 2024-01-04 09:30:00 | Moderate | GBP – S&P Global/CIPS UK Composite PMI (Dec) |
| 2024-01-04 09:00:00 | Moderate | EUR – HCOB Eurozone Services PMI (Dec) |
| 2024-01-04 09:00:00 | Moderate | EUR – HCOB Eurozone Composite PMI (Dec) |
| 2024-01-04 08:55:00 | Moderate | EUR – HCOB Germany Services PMI (Dec) |
| 2024-01-04 08:50:00 | Moderate | EUR – HCOB France Services PMI (Dec) |
| 2024-01-04 08:45:00 | Moderate | EUR – HCOB Italy Services PMI (Dec) |
| 2024-01-04 08:15:00 | Moderate | EUR – HCOB Spain Services PMI (Dec) |
| 2024-01-04 07:45:00 | Moderate | EUR – French HICP (MoM) |
| 2024-01-04 07:45:00 | Moderate | EUR – French CPI (MoM) (Dec) |
| 2024-01-04 01:45:00 | Moderate | CNY – Caixin Services PMI (Dec) |
| 2024-01-04 00:00:00 | Moderate | Motor Vehicle Sales Total Vehicle Sales – Annual Rate |
| 2024-01-04 00:00:00 | Moderate | Motor Vehicle Sales North American-Made Sales – Annual Rate |
| 2024-01-03 21:30:00 | Moderate | USD – API Weekly Crude Oil Stock |
| 2024-01-03 19:00:00 | High | USD – FOMC Meeting Minutes |
| 2024-01-03 18:00:00 | Moderate | USD – Atlanta Fed GDPNow |
| 2024-01-03 16:00:00 | Moderate | RUB – CPI (MoM) (Dec) |
| 2024-01-03 16:00:00 | Moderate | RUB – CPI (YoY) (Dec) |
| 2024-01-03 15:00:00 | High | USD – JOLTs Job Openings (Nov) |
| 2024-01-03 15:00:00 | High | USD – ISM Manufacturing Prices (Dec) |
| 2024-01-03 15:00:00 | High | USD – ISM Manufacturing PMI (Dec) |
| 2024-01-03 15:00:00 | Moderate | USD – ISM Manufacturing Employment (Dec) |
| 2024-01-03 15:00:00 | High | ISM Manufacturing Index Index |
| 2024-01-03 15:00:00 | Moderate | JOLTS Job Openings |
| 2024-01-03 08:55:00 | Moderate | EUR – German Unemployment Rate (Dec) |
| 2024-01-03 08:55:00 | Moderate | EUR – German Unemployment Change (Dec) |
| 2024-01-03 08:30:00 | Moderate | CHF – procure.ch PMI (Dec) |
| 2024-01-03 08:00:00 | Moderate | EUR – Spanish Unemployment Change |
Crypto Assets Prices
The ‘Prices’ table demonstrates the recent price fluctuations of major cryptocurrencies. Bitcoin and Ethereum experienced a negative sentiment due to fears of Bitcoin ETF denial by the SEC. However, positive news such as Bitcoin surpassing $50,000 and Ethereum’s dominance indicate some positive sentiment. It is important to keep a close eye on price movements and market sentiment as they can significantly impact trading decisions.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-01-04 03:52:00 | Bitcoin | 43,121.06 | -4.79% | -4.73 | -4.26% | 11.66 | 8.79% |
| 2024-01-03 03:52:00 | Bitcoin | 45,188.15 | -0.47% | -0.47 | -7.73% | 2.87 | -5.00% |
| 2024-01-02 03:52:00 | Bitcoin | 45,401.15 | 6.77% | 7.25 | 6.89% | 7.87 | 5.86% |
| 2024-01-04 03:52:00 | Ethereum | 2,231.92 | -6.04% | -5.77 | -4.94% | 13.59 | 9.74% |
| 2024-01-03 03:52:00 | Ethereum | 2,366.70 | -0.83% | -0.83 | -5.77% | 3.86 | -1.98% |
| 2024-01-02 03:52:00 | Ethereum | 2,386.24 | 4.67% | 4.95 | 5.35% | 5.84 | 3.08% |
| 2024-01-04 03:52:00 | Binance Coin | 317.00 | 1.58% | 1.38 | 3.63% | 13.86 | 8.79% |
| 2024-01-03 03:52:00 | Binance Coin | 312.00 | -2.28% | -2.26 | -5.46% | 5.07 | 0.74% |
| 2024-01-02 03:52:00 | Binance Coin | 319.10 | 2.91% | 3.20 | 6.27% | 4.33 | -1.56% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table provides insights into the total market capitalization and volume of major cryptocurrencies. The data indicates fluctuations in capitalization and volume, with recent decreases observed in Bitcoin and Ethereum. These fluctuations can be influenced by various factors, including market sentiment and regulatory decisions.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-01-04 00:00:00 | Binance Coin | 48,729,112,617 | 1.43% | 3,018,613,254 | 183.19% |
| 2024-01-03 00:00:00 | Binance Coin | 48,042,716,504 | -0.69% | 1,065,948,711 | 20.00% |
| 2024-01-02 00:00:00 | Binance Coin | 48,378,101,420 | 0.69% | 888,296,865 | 9.88% |
| 2024-01-04 00:00:00 | Bitcoin | 839,778,929,159 | -4.66% | 42,798,890,984 | 23.75% |
| 2024-01-03 00:00:00 | Bitcoin | 880,795,181,599 | 1.86% | 34,584,677,720 | 106.00% |
| 2024-01-02 00:00:00 | Bitcoin | 864,739,886,323 | 4.39% | 16,788,505,825 | 16.03% |
| 2024-01-04 00:00:00 | Ethereum | 265,547,288,685 | -6.37% | 34,455,477,004 | 68.67% |
| 2024-01-03 00:00:00 | Ethereum | 283,612,176,292 | 0.31% | 20,427,824,159 | 122.33% |
| 2024-01-02 00:00:00 | Ethereum | 282,743,193,939 | 3.08% | 9,188,178,312 | 30.84% |
| 2024-01-04 00:00:00 | Tether | 92,142,753,305 | 0.46% | 68,477,723,066 | 26.63% |
| 2024-01-03 00:00:00 | Tether | 91,717,780,781 | -0.01% | 54,079,140,350 | 85.32% |
| 2024-01-02 00:00:00 | Tether | 91,730,242,123 | 0.01% | 29,181,912,844 | 7.04% |
Cryptocurrency Exchanges Volume and Variation
The ‘Exchanges’ table highlights the total volume traded on major cryptocurrency exchanges. Binance, Binance US, and Bitfinex have demonstrated significant trading volumes. Monitoring exchange activity is crucial as it reflects investor sentiment and market liquidity.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-01-04 00:00:00 | Binance | 595,356 | 51.26% |
| 2024-01-03 00:00:00 | Binance | 393,586 | 63.24% |
| 2024-01-02 00:00:00 | Binance | 241,111 | 0.25% |
| 2024-01-04 00:00:00 | Binance US | 869 | 13.59% |
| 2024-01-03 00:00:00 | Binance US | 765 | 97.16% |
| 2024-01-02 00:00:00 | Binance US | 388 | 14.45% |
| 2024-01-04 00:00:00 | Bitfinex | 11,816 | 58.03% |
| 2024-01-03 00:00:00 | Bitfinex | 7,477 | 147.42% |
| 2024-01-02 00:00:00 | Bitfinex | 3,022 | 52.40% |
| 2024-01-04 00:00:00 | Bybit | 131,247 | 71.86% |
| 2024-01-03 00:00:00 | Bybit | 76,368 | 108.08% |
| 2024-01-02 00:00:00 | Bybit | 36,702 | -6.66% |
| 2024-01-04 00:00:00 | Coinbase | 107,074 | 35.92% |
| 2024-01-03 00:00:00 | Coinbase | 78,775 | 106.02% |
| 2024-01-02 00:00:00 | Coinbase | 38,237 | -7.31% |
| 2024-01-04 00:00:00 | Crypto.com | 37,304 | 11.81% |
| 2024-01-03 00:00:00 | Crypto.com | 33,365 | 63.29% |
| 2024-01-02 00:00:00 | Crypto.com | 20,433 | -2.09% |
| 2024-01-04 00:00:00 | Gate.io | 59,678 | 88.25% |
| 2024-01-03 00:00:00 | Gate.io | 31,702 | 61.98% |
| 2024-01-02 00:00:00 | Gate.io | 19,572 | -5.52% |
| 2024-01-04 00:00:00 | Kraken | 43,395 | 48.15% |
| 2024-01-03 00:00:00 | Kraken | 29,291 | 147.66% |
| 2024-01-02 00:00:00 | Kraken | 11,827 | 8.20% |
| 2024-01-04 00:00:00 | KuCoin | 46,226 | 79.85% |
| 2024-01-03 00:00:00 | KuCoin | 25,702 | 64.26% |
| 2024-01-02 00:00:00 | KuCoin | 15,647 | -8.08% |
| 2024-01-04 00:00:00 | OKX | 163,583 | 104.47% |
| 2024-01-03 00:00:00 | OKX | 80,002 | 71.22% |
| 2024-01-02 00:00:00 | OKX | 46,725 | -5.92% |
Mining – Blockchain Technology
The ‘Mining’ table offers insights into the mining difficulty, mined blocks, block rewards, and hash rate. Recent data indicates relatively stable difficulty levels and block rewards. However, variations in hash rate suggest changes in computational mining capacity. Monitoring these indicators provides valuable information on the overall health and development of the cryptocurrency mining ecosystem.
| Item | 2024-01-04 | 2024-01-03 | 2024-01-02 | 2024-01-01 | 2023-12-31 | 2023-12-30 | 2023-12-29 |
|---|---|---|---|---|---|---|---|
| Difficulty | 72,01T | 72,01T | 72,01T | 72,01T | 72,01T | 72,01T | 72,01T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 824,23K | 824,07K | 823,94K | 823,79K | 823,63K | 823,48K | 823,33K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.01% |
| 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 | 558,39B | 468,91B | 554,81B | 558,39B | 519,02B | 540,50B | 433,11B |
| Hash Rate GB Variation | 19.08% | -15.48% | -0.64% | 7.59% | -3.97% | 24.79% | -4.72% |
Conclusion
In conclusion, the current trend in the cryptocurrency market appears to be neutral to trending down. Multiple factors such as the SEC’s potential rejection of Bitcoin ETFs, price fluctuations, and dominant cryptocurrencies contribute to market dynamics. While there are both positive and negative indicators, caution is advised due to the volatile nature of the market. The analysis presented here is based on up-to-date data and provides valuable insights for understanding the current state of the cryptocurrency market.
So What
The current state of the cryptocurrency market has practical implications for investors and market participants. It is crucial to closely monitor regulatory decisions, market sentiment, and price movements to make informed investment decisions. Additionally, maintaining a diversified portfolio and staying updated on market news can help navigate the volatility and potential risks associated with the cryptocurrency market.
What next?
Looking ahead, the cryptocurrency market is expected to remain dynamic and influenced by various factors. Regulatory developments, market sentiment, and technological advancements will continue to shape the market’s future. It is important to stay informed and adapt to changes in order 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.
