Crypto Market Analysis & Trend: Neutral/Trending Up
In the last 8 hours, the cryptocurrency market has shown a neutral-to-positive trend, with a slight upward movement. This analysis is based on the evidence gathered from the available data tables, with a reasonable level of confidence. It is important to note that the cryptocurrency market is highly volatile, and trends can change rapidly within short periods of time.
What is important
The current state of the cryptocurrency market is influenced by several factors, including market capitalization, trading volumes, economic events, price movements, and sentiment analysis. These factors provide insights into the overall market sentiment and can guide investment decisions. Additionally, monitoring the performance of major exchanges and mining activities can provide further understanding of market dynamics.
Top 5 – Latest Headlines & Cryptocurrency News
- SEC Twitter Account Hacked, False Bitcoin ETF Approval Causes Market Chaos– The SEC Twitter account was hacked, causing market chaos due to false Bitcoin ETF approval.
- SEC´s Twitter/X was hacked to post fake spot Bitcoin ETF approval: Gensler– The Twitter account of the U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler was hacked to post a fake announcement of a spot Bitcoin ETF approval.
- WisdomTree, VanEck List Spot Bitcoin ETFs Tickers On DTCC Amid US SEC Approval Hype– WisdomTree and VanEck have listed spot Bitcoin ETFs on the DTCC amid US SEC approval hype.
- Valkyrie cofounder predicts Wednesday approval amid Bitcoin ETF frenzy– The SEC´s approval of Valkyrie Bitcoin ETF by BlackRock is a positive development for the cryptocurrency market.
- False Alert: SEC Refutes Unauthorized Bitcoin ETF Approval Tweet– The SEC refutes unauthorized Bitcoin ETF approval tweet.
Factors Driving the Growth – Market Sentiment
Analyzing the ‘Positive Keywords’ and ‘Negative Keywords’ tables, we observe that Bitcoin, Bitcoin ETF, and cryptocurrency market are frequently mentioned. Bitcoin ETF approval news has sparked interest and increased market volatility. On the negative side, the SEC’s Twitter account being hacked and false information about Bitcoin ETF approval caused market chaos. It is crucial to consider both positive trends and negative incidents when analyzing the market.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 71 | bitcoin |
| 31 | bitcoin etf |
| 25 | binance |
| 25 | cryptocurrency market |
| 20 | sec |
| 19 | solana |
| 19 | xrp |
| 17 | approval |
| 15 | shiba inu |
| 14 | surge |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 48 | sec |
| 25 | bitcoin |
| 23 | bitcoin etf |
| 13 | cryptocurrency market |
| 12 | hacked |
| 9 | ethereum |
| 9 | price |
| 7 | |
| 6 | analyst |
| 6 | approval |
Crypto Investor Fear & Greed Index
The ‘Fear and Greed Indicators’ table provides insights into the sentiments of cryptocurrency market participants. The indicators fluctuate between fear and greed, with Extreme Fear representing values below 25 and Extreme Greed representing values above 75. Based on the available data, the market sentiment has been mostly driven by fear, indicating a cautious approach by investors. However, it is important to consider that sentiment can quickly change in response to market developments.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-01-10 00:00:00 | 73pt | -3pt | Alternative.me |
| 2024-01-10 00:00:00 | 76pt | 0pt | Alternative.me |
| 2024-01-09 00:00:00 | 71pt | 0pt | Alternative.me |
| 2024-01-09 00:00:00 | 76pt | 5pt | Alternative.me |
| 2024-01-08 00:00:00 | 71pt | 0pt | Alternative.me |
| 2024-01-10 00:00:00 | 76pt | 5pt | BitDegree.org |
| 2024-01-09 00:00:00 | 71pt | 0pt | BitDegree.org |
| 2024-01-08 00:00:00 | 71pt | 0pt | BitDegree.org |
| 2024-01-10 08:00:00 | 58pt | -1pt | BtcTools.io |
| 2024-01-10 00:00:00 | 59pt | 3pt | BtcTools.io |
| 2024-01-09 16:00:00 | 56pt | -1pt | BtcTools.io |
| 2024-01-09 08:00:00 | 57pt | 2pt | BtcTools.io |
| 2024-01-09 00:00:00 | 55pt | 1pt | BtcTools.io |
| 2024-01-08 16:00:00 | 54pt | -1pt | BtcTools.io |
| 2024-01-08 08:00:00 | 55pt | -2pt | BtcTools.io |
| 2024-01-08 00:00:00 | 57pt | -5pt | BtcTools.io |
| 2024-01-07 16:00:00 | 62pt | 0pt | BtcTools.io |
| 2024-01-10 00:00:00 | 73pt | -3pt | Coinstats.app |
| 2024-01-09 00:00:00 | 76pt | 5pt | Coinstats.app |
| 2024-01-08 00:00:00 | 71pt | 0pt | Coinstats.app |
Bitcoin: Active Addresses
Analyzing the ‘Bitcoin Address Indicators’ table, we observe variations in the number of active addresses and quantities of wallet addresses with specific balance values. While the total number of addresses has remained relatively stable, there have been fluctuations in the addresses with different balance thresholds. This information provides insights into the activity and distribution of Bitcoin across different wallet addresses.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-01-10 08:00:00 | 1,201,258,983 | 0.00% | Total Addresses | bitaps.com |
| 2024-01-10 08:00:00 | 1,151,485,970 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-01-10 08:00:00 | 847,631 | 1.02% | Bitcoin Active Addresses | btc.com |
| 2024-01-10 08:00:00 | 540,557 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-01-10 08:00:00 | 219,363 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-01-10 08:00:00 | 2,602,419 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-01-10 08:00:00 | 8,999,596 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-01-10 08:00:00 | 12,816,382 | 0.00% | Addresses with over 0.0001 | bitaps.com |
| 2024-01-10 08:00:00 | 11,981,083 | -0.02% | Addresses with over 0.001 | bitaps.com |
| 2024-01-10 08:00:00 | 8,065,617 | 0.00% | Addresses with over 0.01 | bitaps.com |
| 2024-01-10 08:00:00 | 3,532,500 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-01-10 08:00:00 | 860,977 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-01-10 08:00:00 | 138,555 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-01-10 08:00:00 | 13,953 | 0.00% | Addresses with over 100 | bitaps.com |
| 2024-01-10 08:00:00 | 1,906 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-01-10 08:00:00 | 101 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-01-10 08:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The ‘Economic Events’ table displays important events affecting the global financial market. These events, such as CPI reports, jobless claims, and auctions, can have a significant impact on market sentiments and prices. Monitoring these events helps in understanding the broader economic context and their potential influence on the cryptocurrency market.
| Date | Impact | Event |
|---|---|---|
| 2024-01-11 19:00:00 | Moderate | Treasury Statement Balance |
| 2024-01-11 15:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-01-11 13:30:00 | High | CPI CPI – Y/Y |
| 2024-01-11 13:30:00 | High | CPI CPI – M/M |
| 2024-01-11 13:30:00 | High | Jobless Claims Initial Claims – Level |
| 2024-01-11 13:30:00 | High | CPI Ex-Food & Energy- Y/Y |
| 2024-01-11 13:30:00 | High | CPI Ex-Food & Energy- M/M |
| 2024-01-11 13:30:00 | High | Jobless Claims 4-Week Moving Average |
| 2024-01-11 13:30:00 | High | Jobless Claims Initial Claims – Change |
| 2024-01-10 20:15:00 | Moderate | USD – FOMC Member Williams Speaks |
| 2024-01-10 18:00:00 | Moderate | USD – Atlanta Fed GDPNow (Q4) |
| 2024-01-10 18:00:00 | High | USD – 10-Year Note Auction |
| 2024-01-10 17:00:00 | Moderate | EUR – German Buba Balz Speaks |
| 2024-01-10 15:30:00 | Moderate | USD – Cushing Crude Oil Inventories |
| 2024-01-10 15:30:00 | High | USD – Crude Oil Inventories |
| 2024-01-10 15:30:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 2024-01-10 15:30:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 2024-01-10 15:30:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 2024-01-10 15:15:00 | Moderate | GBP – BoE Gov Bailey Speaks |
| 2024-01-10 14:15:00 | Moderate | GBP – BoE Gov Bailey Speaks |
| 2024-01-10 14:00:00 | Moderate | EUR – ECB´s Schnabel Speaks |
| 2024-01-10 10:30:00 | Moderate | EUR – German 10-Year Bund Auction |
| 2024-01-10 08:20:00 | Moderate | EUR – ECB´s De Guindos Speaks |
| 2024-01-10 08:00:00 | Moderate | CNY – New Loans |
| 2024-01-10 03:35:00 | Moderate | JPY – 10-Year JGB Auction |
| 2024-01-09 21:30:00 | Moderate | USD – API Weekly Crude Oil Stock |
| 2024-01-09 18:00:00 | Moderate | USD – 3-Year Note Auction |
| 2024-01-09 17:00:00 | Moderate | USD – EIA Short-Term Energy Outlook |
| 2024-01-09 16:30:00 | Moderate | USD – Atlanta Fed GDPNow (Q4) |
| 2024-01-09 13:30:00 | Moderate | CAD – Building Permits (MoM) (Nov) |
| 2024-01-09 13:30:00 | Moderate | USD – Trade Balance (Nov) |
| 2024-01-09 13:30:00 | Moderate | USD – Imports |
| 2024-01-09 13:30:00 | Moderate | USD – Exports |
| 2024-01-09 13:30:00 | High | International Trade in Goods and Services Balance |
| 2024-01-09 10:00:00 | Moderate | EUR – Unemployment Rate (Nov) |
Crypto Assets Prices
The ‘Prices’ table provides the prices, price variations, and volatilities of major cryptocurrencies. Analyzing the data, we observe both positive and negative price variations, indicating market fluctuations. Volatility measures the extent of price swings, with higher values reflecting greater price volatility. Understanding price movements is crucial for investors and traders in making informed decisions.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-01-10 08:05:00 | Bitcoin | 45,780.00 | -2.13% | -1.64 | -8.22% | 7.20 | -1.06% |
| 2024-01-09 08:05:00 | Bitcoin | 46,754.76 | 5.97% | 6.58 | 6.70% | 8.27 | 5.24% |
| 2024-01-08 08:05:00 | Bitcoin | 43,964.92 | -0.36% | -0.12 | -1.10% | 3.02 | 1.34% |
| 2024-01-10 08:05:00 | Ethereum | 2,372.39 | 2.90% | 3.54 | -0.14% | 7.80 | 0.83% |
| 2024-01-09 08:05:00 | Ethereum | 2,303.58 | 3.44% | 3.68 | 4.37% | 6.97 | 2.74% |
| 2024-01-08 08:05:00 | Ethereum | 2,224.25 | -1.11% | -0.69 | -1.20% | 4.23 | 3.04% |
| 2024-01-10 08:05:00 | Binance Coin | 300.00 | -1.60% | -1.25 | -3.36% | 3.48 | -0.46% |
| 2024-01-09 08:05:00 | Binance Coin | 304.80 | 1.80% | 2.11 | 4.75% | 3.95 | -2.36% |
| 2024-01-08 08:05:00 | Binance Coin | 299.30 | -3.24% | -2.64 | -3.71% | 6.31 | 4.53% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table provides insights into the total market capitalization and volume across major cryptocurrencies. Analyzing these metrics offers a broader perspective on the overall market trends and liquidity. It is important to monitor changes in market capitalization and trading volumes to assess the level of market activity and interest.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-01-10 00:00:00 | Binance Coin | 46,343,471,950 | -1.03% | 1,822,179,512 | 43.17% |
| 2024-01-09 00:00:00 | Binance Coin | 46,823,584,331 | 0.55% | 1,272,774,606 | 82.87% |
| 2024-01-08 00:00:00 | Binance Coin | 46,569,597,369 | -1.61% | 696,011,224 | -38.12% |
| 2024-01-10 00:00:00 | Bitcoin | 904,138,567,696 | -1.75% | 41,231,520,100 | 1.08% |
| 2024-01-09 00:00:00 | Bitcoin | 920,264,432,065 | 6.86% | 40,791,524,362 | 199.74% |
| 2024-01-08 00:00:00 | Bitcoin | 861,147,598,683 | -0.11% | 13,608,927,367 | 14.81% |
| 2024-01-10 00:00:00 | Ethereum | 281,713,524,722 | 0.45% | 28,549,786,804 | 8.92% |
| 2024-01-09 00:00:00 | Ethereum | 280,460,085,896 | 5.01% | 26,211,782,448 | 151.30% |
| 2024-01-08 00:00:00 | Ethereum | 267,071,151,703 | -0.93% | 10,430,581,482 | 19.51% |
| 2024-01-10 00:00:00 | Tether | 94,111,440,749 | -0.03% | 59,237,677,960 | 4.99% |
| 2024-01-09 00:00:00 | Tether | 94,138,771,639 | 0.46% | 56,421,615,524 | 101.77% |
| 2024-01-08 00:00:00 | Tether | 93,704,952,522 | 0.28% | 27,963,803,309 | 2.58% |
Cryptocurrency Exchanges Volume and Variation
Analyzing the ‘Exchanges’ table, we observe variations in trading volumes across different cryptocurrency exchanges. This indicates the level of market activity and liquidity on each platform. Keep in mind that trading volumes can act as indicators of market sentiment and the popularity of specific exchanges among traders.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-01-10 00:00:00 | Binance | 401,419 | -0.04% |
| 2024-01-09 00:00:00 | Binance | 401,568 | 74.54% |
| 2024-01-08 00:00:00 | Binance | 230,069 | 7.69% |
| 2024-01-10 00:00:00 | Binance US | 667 | -4.99% |
| 2024-01-09 00:00:00 | Binance US | 702 | 115.34% |
| 2024-01-08 00:00:00 | Binance US | 326 | 6.19% |
| 2024-01-10 00:00:00 | Bitfinex | 9,587 | 3.54% |
| 2024-01-09 00:00:00 | Bitfinex | 9,259 | 371.92% |
| 2024-01-08 00:00:00 | Bitfinex | 1,962 | -16.86% |
| 2024-01-10 00:00:00 | Bybit | 87,169 | 14.28% |
| 2024-01-09 00:00:00 | Bybit | 76,275 | 108.60% |
| 2024-01-08 00:00:00 | Bybit | 36,565 | 4.62% |
| 2024-01-10 00:00:00 | Coinbase | 73,359 | -5.63% |
| 2024-01-09 00:00:00 | Coinbase | 77,733 | 183.43% |
| 2024-01-08 00:00:00 | Coinbase | 27,426 | -2.74% |
| 2024-01-10 00:00:00 | Crypto.com | 29,450 | -12.34% |
| 2024-01-09 00:00:00 | Crypto.com | 33,596 | 56.86% |
| 2024-01-08 00:00:00 | Crypto.com | 21,418 | 8.99% |
| 2024-01-10 00:00:00 | Gate.io | 35,809 | 3.92% |
| 2024-01-09 00:00:00 | Gate.io | 34,459 | 40.33% |
| 2024-01-08 00:00:00 | Gate.io | 24,556 | 5.87% |
| 2024-01-10 00:00:00 | Kraken | 36,359 | 17.87% |
| 2024-01-09 00:00:00 | Kraken | 30,846 | 206.68% |
| 2024-01-08 00:00:00 | Kraken | 10,058 | 10.83% |
| 2024-01-10 00:00:00 | KuCoin | 30,813 | -4.29% |
| 2024-01-09 00:00:00 | KuCoin | 32,195 | 88.97% |
| 2024-01-08 00:00:00 | KuCoin | 17,037 | -0.54% |
| 2024-01-10 00:00:00 | OKX | 96,485 | 7.18% |
| 2024-01-09 00:00:00 | OKX | 90,018 | 92.79% |
| 2024-01-08 00:00:00 | OKX | 46,693 | 8.20% |
Mining – Blockchain Technology
The ‘Mining’ table presents data related to mining difficulty, blocks, rewards, and hash rate. These factors play a significant role in the cryptocurrency ecosystem. The variations in mining difficulty and hash rate represent changes in the computational power dedicated to mining, which can impact the network’s security and the mining rewards.
| Item | 2024-01-10 | 2024-01-09 | 2024-01-08 | 2024-01-07 | 2024-01-06 | 2024-01-05 | 2024-01-04 |
|---|---|---|---|---|---|---|---|
| Difficulty | 73.20T | 73.20T | 73.20T | 73.20T | 72.01T | 72.01T | 72.01T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 1.65% | 0.00% | 0.00% | 0.00% |
| Blocks | 825.07K | 824.92K | 824.80K | 824.68K | 824.54K | 824.40K | 824.23K |
| Blocks Variation | 0.02% | 0.01% | 0.01% | 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 | 553.08B | 447.56B | 429.36B | 509.41B | 493.96B | 604.93B | 558.39B |
| Hash Rate GB Variation | 23.58% | 4.24% | -15.71% | 3.13% | -18.34% | 8.33% | 19.08% |
Conclusion
To summarize, the cryptocurrency market is currently showing a neutral-to-positive trend, with a cautious sentiment driven by factors such as Bitcoin ETF approval news, hacking incidents, and economic events. The market capitalizations and trading volumes of major cryptocurrencies have varied, reflecting the dynamic nature of the market. Traders and investors should closely monitor these factors and stay informed about the latest developments.
So What
The current state of the cryptocurrency market carries implications for market participants. Traders need to monitor market sentiment, such as fear and greed indicators, and analyze the impact of economic events on price movements. Investors should diversify their portfolios and carefully assess risks before making any investment decisions.
What next?
Looking ahead, the cryptocurrency market is expected to remain volatile, influenced by factors such as regulatory decisions, market developments, and global economic conditions. Investors and traders should stay updated with the latest news and developments to navigate the market effectively.
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.
