Crypto Market Analysis & Trend: Neutral/Trending Up
The cryptocurrency market is currently showing a neutral trend with a slight upward movement. Based on the analysis of the available data, there are several factors indicating a potential positive outlook for the next 8 hours. However, it is important to consider the volatility and uncertainties inherent in the cryptocurrency market.
What is important
In the current state of the cryptocurrency market, several key points are essential to understanding its dynamics. Firstly, the approval of Bitcoin ETFs by the SEC has generated positive sentiment, leading to an increase in the market capitalization of Bitcoin and other coins. Additionally, the surge in Ethereum Classic and the rise in trading volume on Coinbase highlight the growing interest and activity in the market. These developments, coupled with the positive sentiment surrounding altcoins and the significant bets on a Bitcoin ETF, contribute to the overall optimism in the market.
Top 5 – Latest Headlines & Cryptocurrency News
- Altcoin Surge: Ethereum Classic Breaks $26 Barrier Amidst Market Optimism– Ethereum Classic breaks $26 barrier amidst market optimism.
- BlackRock´s iShares Bitcoin ETF Surges 25% on SEC Approval– BlackRock´s iShares Bitcoin ETF surges 25% on SEC approval.
- Crypto Suddenly Surges On Huge $4 Trillion To $10 Trillion Bitcoin ETF Bets– The cryptocurrency market experiences a sudden surge due to significant bets on a $4 trillion to $10 trillion Bitcoin ETF, resulting in a boost in the prices of Ethereum, XRP, BNB, Solana, and Cardano.
- Coinbase´s Bitcoin OTC trading volume reaches second-highest level in history– Coinbase´s Bitcoin OTC trading volume reaches second-highest level in history.
- Ethereum ETF Approval Hopes Rise as Bitcoin Funds Launch Successfully—Is an SEC Nod Around the Corner?– Hopes for Ethereum ETF approval rise as Bitcoin funds launch successfully, indicating a potential SEC nod in the near future.
Factors Driving the Growth – Market Sentiment
The analysis of the ‘Positive Keywords’ and ‘Negative Keywords’ tables provides insights into the sentiment surrounding the cryptocurrency market. The frequent mention of positive keywords such as ‘surge,’ ‘approval,’ and ‘optimism’ indicates a general positive sentiment among market participants. On the other hand, the presence of negative keywords like ‘delayed approval’ and ‘criticizes’ reflects some skepticism and criticism towards certain aspects of the market.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 83 | bitcoin |
| 63 | bitcoin etf |
| 42 | cryptocurrency market |
| 33 | ethereum |
| 31 | bitcoin etfs |
| 28 | binance |
| 20 | sec |
| 18 | surge |
| 17 | etf |
| 16 | coinbase |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 27 | bitcoin |
| 20 | sec |
| 17 | bitcoin etfs |
| 16 | vanguard |
| 15 | bitcoin etf |
| 10 | near foundation |
| 8 | south korea |
| 6 | cryptocurrency market |
| 5 | elizabeth warren |
| 4 | fbi |
Crypto Investor Fear & Greed Index
The ‘Fear and Greed Indicators’ table, which indicates the fear and greed levels in the market based on sentiment indicators, shows a mixed sentiment with values mostly in the greed range. This suggests that market participants are generally optimistic but cautious. However, it is important to note that sentiment indicators are subjective and can vary over time.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-01-12 00:00:00 | 71pt | -5pt | Alternative.me |
| 2024-01-12 00:00:00 | 76pt | 0pt | Alternative.me |
| 2024-01-11 00:00:00 | 73pt | 0pt | Alternative.me |
| 2024-01-11 00:00:00 | 76pt | 3pt | Alternative.me |
| 2024-01-10 00:00:00 | 73pt | -3pt | Alternative.me |
| 2024-01-10 00:00:00 | 76pt | 0pt | Alternative.me |
| 2024-01-12 00:00:00 | 76pt | 0pt | BitDegree.org |
| 2024-01-11 09:00:00 | 76pt | 3pt | BitDegree.org |
| 2024-01-11 00:00:00 | 73pt | -3pt | BitDegree.org |
| 2024-01-10 00:00:00 | 76pt | 0pt | BitDegree.org |
| 2024-01-12 08:00:00 | 65pt | -1pt | BtcTools.io |
| 2024-01-12 00:00:00 | 66pt | 0pt | BtcTools.io |
| 2024-01-11 16:00:00 | 66pt | 7pt | BtcTools.io |
| 2024-01-11 08:00:00 | 59pt | -2pt | BtcTools.io |
| 2024-01-11 00:00:00 | 61pt | 1pt | BtcTools.io |
| 2024-01-10 16:00:00 | 60pt | 2pt | BtcTools.io |
| 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 | 0pt | BtcTools.io |
| 2024-01-12 00:00:00 | 71pt | -5pt | Coinstats.app |
| 2024-01-11 00:00:00 | 76pt | 3pt | Coinstats.app |
| 2024-01-10 00:00:00 | 73pt | 0pt | Coinstats.app |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table provides insights into the activity and growth of Bitcoin addresses. The number of active addresses and the quantities of wallet addresses based on balance values remain relatively stable, indicating a consistent level of engagement in the Bitcoin ecosystem.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-01-12 08:00:00 | 1,201,836,468 | 0.00% | Total Addresses | bitaps.com |
| 2024-01-12 08:00:00 | 1,152,059,241 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-01-12 08:00:00 | 899,671 | -0.62% | Bitcoin Active Addresses | btc.com |
| 2024-01-12 08:00:00 | 540,559 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-01-12 08:00:00 | 219,363 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-01-12 08:00:00 | 2,603,699 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-01-12 08:00:00 | 9,015,554 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-01-12 08:00:00 | 12,837,877 | 0.01% | Addresses with over 0.0001 | bitaps.com |
| 2024-01-12 08:00:00 | 11,976,798 | -0.01% | Addresses with over 0.001 | bitaps.com |
| 2024-01-12 08:00:00 | 8,044,765 | -0.03% | Addresses with over 0.01 | bitaps.com |
| 2024-01-12 08:00:00 | 3,523,841 | -0.01% | Addresses with over 0.1 | bitaps.com |
| 2024-01-12 08:00:00 | 860,227 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-01-12 08:00:00 | 138,600 | 0.01% | Addresses with over 10 | bitaps.com |
| 2024-01-12 08:00:00 | 13,940 | -0.04% | Addresses with over 100 | bitaps.com |
| 2024-01-12 08:00:00 | 1,899 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-01-12 08:00:00 | 101 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-01-12 08:00:00 | 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 and events that have the potential to impact the cryptocurrency market. While some events, such as the approval of Bitcoin ETFs and positive GDP growth, contribute to the positive sentiment in the market, others, like SEC criticism and trade balance fluctuations, may introduce some uncertainties and volatility.
| Date | Impact | Event |
|---|---|---|
| 2024-01-12 20:30:00 | Moderate | EUR – CFTC EUR speculative net positions |
| 2024-01-12 20:30:00 | Moderate | RUB – CFTC RUB speculative positions |
| 2024-01-12 20:30:00 | Moderate | JPY – CFTC JPY speculative net positions |
| 2024-01-12 20:30:00 | Moderate | BRL – CFTC BRL speculative net positions |
| 2024-01-12 20:30:00 | Moderate | AUD – CFTC AUD speculative net positions |
| 2024-01-12 20:30:00 | Moderate | USD – CFTC S&P 500 speculative net positions |
| 2024-01-12 20:30:00 | Moderate | USD – CFTC Nasdaq 100 speculative net positions |
| 2024-01-12 20:30:00 | Moderate | USD – CFTC Gold speculative net positions |
| 2024-01-12 20:30:00 | Moderate | USD – CFTC Crude Oil speculative net positions |
| 2024-01-12 20:30:00 | Moderate | GBP – CFTC GBP speculative net positions |
| 2024-01-12 18:00:00 | Moderate | USD – U.S. Baker Hughes Total Rig Count |
| 2024-01-12 18:00:00 | Moderate | USD – U.S. Baker Hughes Oil Rig Count |
| 2024-01-12 17:00:00 | Moderate | USD – WASDE Report |
| 2024-01-12 16:00:00 | Moderate | RUB – CPI (MoM) (Dec) |
| 2024-01-12 16:00:00 | Moderate | RUB – CPI (YoY) (Dec) |
| 2024-01-12 15:00:00 | Moderate | USD – FOMC Member Kashkari Speaks |
| 2024-01-12 13:30:00 | High | USD – PPI (MoM) (Dec) |
| 2024-01-12 13:30:00 | Moderate | USD – Core PPI (MoM) (Dec) |
| 2024-01-12 13:30:00 | High | PPI-Final Demand PPI-FD – Y/Y |
| 2024-01-12 13:30:00 | High | PPI-Final Demand PPI-FD – M/M |
| 2024-01-12 13:30:00 | High | PPI-Final Demand Ex-Food, Energy & Trade Services – M/M |
| 2024-01-12 13:30:00 | High | PPI-Final Demand Ex-Food & Energy – Y/Y |
| 2024-01-12 13:30:00 | High | PPI-Final Demand Ex-Food & Energy – M/M |
| 2024-01-12 13:30:00 | High | PPI-Final Demand Ex-Food, Energy & Trade Services – Y/Y |
| 2024-01-12 13:00:00 | Moderate | GBP – NIESR Monthly GDP Tracker |
| 2024-01-12 12:30:00 | Moderate | EUR – ECB´s Lane Speaks |
| 2024-01-12 12:00:00 | Moderate | INR – CPI (YoY) (Dec) |
| 2024-01-12 10:00:00 | Moderate | CNY – New Loans |
| 2024-01-12 08:00:00 | Moderate | EUR – Spanish HICP (YoY) (Dec) |
| 2024-01-12 08:00:00 | Moderate | EUR – Spanish CPI (YoY) (Dec) |
| 2024-01-12 07:45:00 | Moderate | EUR – French HICP (MoM) (Dec) |
| 2024-01-12 07:45:00 | Moderate | EUR – French CPI (MoM) (Dec) |
| 2024-01-12 07:45:00 | Moderate | EUR – French Consumer Spending (MoM) (Nov) |
| 2024-01-12 07:00:00 | Moderate | GBP – Trade Balance Non-EU (Nov) |
| 2024-01-12 07:00:00 | Moderate | GBP – Trade Balance (Nov) |
| 2024-01-12 07:00:00 | Moderate | GBP – Monthly GDP 3M/3M Change (Nov) |
| 2024-01-12 07:00:00 | Moderate | GBP – Manufacturing Production (MoM) (Nov) |
| 2024-01-12 07:00:00 | Moderate | GBP – Industrial Production (MoM) (Nov) |
| 2024-01-12 07:00:00 | High | GBP – GDP (MoM) (Nov) |
| 2024-01-12 03:00:00 | Moderate | CNY – Trade Balance (USD) (Dec) |
| 2024-01-12 03:00:00 | Moderate | CNY – Imports (YoY) (Dec) |
| 2024-01-12 03:00:00 | Moderate | CNY – Exports (YoY) (Dec) |
| 2024-01-12 01:30:00 | Moderate | CNY – PPI (YoY) (Dec) |
| 2024-01-12 01:30:00 | Moderate | CNY – CPI (YoY) (Dec) |
| 2024-01-12 01:30:00 | Moderate | CNY – CPI (MoM) (Dec) |
| 2024-01-12 00:30:00 | Moderate | AUD – Home Loans (MoM) |
| 2024-01-11 23:50:00 | Moderate | JPY – Current Account n.s.a. (Nov) |
| 2024-01-11 23:50:00 | Moderate | JPY – Adjusted Current Account (Nov) |
| 2024-01-11 21:30:00 | Moderate | USD – Fed´s Balance Sheet |
| 2024-01-11 19:00:00 | Moderate | USD – Federal Budget Balance (Dec) |
| 2024-01-11 19:00:00 | Moderate | Treasury Statement Balance |
| 2024-01-11 18:00:00 | High | USD – 30-Year Bond Auction |
| 2024-01-11 15:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-01-11 13:30:00 | High | USD – Initial Jobless Claims |
| 2024-01-11 13:30:00 | High | USD – CPI (YoY) (Dec) |
| 2024-01-11 13:30:00 | High | USD – CPI (MoM) (Dec) |
| 2024-01-11 13:30:00 | Moderate | USD – Core CPI (YoY) (Dec) |
| 2024-01-11 13:30:00 | High | USD – Core CPI (MoM) (Dec) |
| 2024-01-11 13:30:00 | Moderate | USD – Continuing Jobless Claims |
| 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 |
| 2024-01-11 12:00:00 | Moderate | BRL – CPI (YoY) (Dec) |
| 2024-01-11 09:00:00 | Moderate | EUR – ECB Economic Bulletin |
Crypto Assets Prices
The ‘Prices’ table reflects the recent price variations and volatility of major cryptocurrencies. The analysis reveals both positive and negative price movements, influenced by factors such as SEC approval, market optimism, and trading activities on specific exchanges. However, it is important to note that cryptocurrency prices are highly volatile and can be influenced by various factors.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-01-12 08:07:00 | Bitcoin | 45,941.99 | -0.31% | -0.72 | -2.39% | 7.37 | -0.29% |
| 2024-01-11 08:07:00 | Bitcoin | 46,086.00 | 0.61% | 1.67 | 3.26% | 7.66 | 0.46% |
| 2024-01-10 08:07:00 | Bitcoin | 45,804.37 | -2.02% | -1.59 | -8.11% | 7.20 | -1.06% |
| 2024-01-12 08:07:00 | Ethereum | 2,596.77 | 0.28% | -0.72 | -10.22% | 4.65 | -8.21% |
| 2024-01-11 08:07:00 | Ethereum | 2,589.55 | 8.32% | 9.50 | 5.89% | 12.86 | 5.05% |
| 2024-01-10 08:07:00 | Ethereum | 2,374.16 | 3.06% | 3.62 | 0.04% | 7.80 | 0.83% |
| 2024-01-12 08:07:00 | Binance Coin | 308.60 | 0.39% | -1.84 | -5.00% | 5.11 | -2.23% |
| 2024-01-11 08:07:00 | Binance Coin | 307.40 | 2.28% | 3.15 | 4.27% | 7.34 | 3.86% |
| 2024-01-10 08:07:00 | Binance Coin | 300.40 | -1.26% | -1.12 | -3.03% | 3.48 | -0.46% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table provides insights into the total market capitalization and volume of major cryptocurrencies. The analysis indicates an overall positive trend in terms of market capitalization, reflecting the increased investor interest and potentially positive sentiment in the market. However, it is crucial to consider the potential impact of market volatility and external factors on these metrics.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-01-12 00:00:00 | Binance Coin | 47,440,669,990 | 0.93% | 1,688,407,087 | 18.80% |
| 2024-01-11 00:00:00 | Binance Coin | 47,001,470,275 | 1.42% | 1,421,264,935 | -22.00% |
| 2024-01-10 00:00:00 | Binance Coin | 46,343,471,950 | -1.03% | 1,822,179,512 | 43.17% |
| 2024-01-12 00:00:00 | Bitcoin | 908,750,537,734 | -0.64% | 48,880,616,019 | -6.94% |
| 2024-01-11 00:00:00 | Bitcoin | 914,589,165,821 | 1.16% | 52,527,177,721 | 27.40% |
| 2024-01-10 00:00:00 | Bitcoin | 904,138,567,696 | -1.75% | 41,231,520,100 | 1.08% |
| 2024-01-12 00:00:00 | Ethereum | 314,554,802,694 | 1.20% | 33,780,680,133 | -23.15% |
| 2024-01-11 00:00:00 | Ethereum | 310,821,894,359 | 10.33% | 43,956,208,769 | 53.96% |
| 2024-01-10 00:00:00 | Ethereum | 281,713,524,722 | 0.45% | 28,549,786,804 | 8.92% |
| 2024-01-12 00:00:00 | Tether | 95,062,620,422 | 0.59% | 55,714,339,064 | -29.95% |
| 2024-01-11 00:00:00 | Tether | 94,504,765,888 | 0.42% | 79,537,376,284 | 34.27% |
| 2024-01-10 00:00:00 | Tether | 94,111,440,749 | -0.03% | 59,237,677,960 | 4.99% |
Cryptocurrency Exchanges Volume and Variation
The ‘Exchanges’ table reflects the trading volumes and variations on major cryptocurrency exchanges. The data suggests that trading volumes have generally increased, indicating active participation and growing market interest. However, it is important to monitor these trends and consider the potential impact of regulatory developments and market conditions on exchange activities.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-01-12 00:00:00 | Binance | 519,966 | 4.58% |
| 2024-01-11 00:00:00 | Binance | 497,189 | 23.86% |
| 2024-01-10 00:00:00 | Binance | 401,419 | -0.04% |
| 2024-01-12 00:00:00 | Binance US | 852 | -9.07% |
| 2024-01-11 00:00:00 | Binance US | 937 | 40.48% |
| 2024-01-10 00:00:00 | Binance US | 667 | -4.99% |
| 2024-01-12 00:00:00 | Bitfinex | 15,407 | 1.60% |
| 2024-01-11 00:00:00 | Bitfinex | 15,164 | 58.17% |
| 2024-01-10 00:00:00 | Bitfinex | 9,587 | 3.54% |
| 2024-01-12 00:00:00 | Bybit | 104,820 | -12.42% |
| 2024-01-11 00:00:00 | Bybit | 119,681 | 37.30% |
| 2024-01-10 00:00:00 | Bybit | 87,169 | 14.28% |
| 2024-01-12 00:00:00 | Coinbase | 103,964 | 1.63% |
| 2024-01-11 00:00:00 | Coinbase | 102,297 | 39.45% |
| 2024-01-10 00:00:00 | Coinbase | 73,359 | -5.63% |
| 2024-01-12 00:00:00 | Crypto.com | 32,017 | -4.47% |
| 2024-01-11 00:00:00 | Crypto.com | 33,516 | 13.81% |
| 2024-01-10 00:00:00 | Crypto.com | 29,450 | -12.34% |
| 2024-01-12 00:00:00 | Gate.io | 42,307 | -3.22% |
| 2024-01-11 00:00:00 | Gate.io | 43,714 | 22.08% |
| 2024-01-10 00:00:00 | Gate.io | 35,809 | 3.92% |
| 2024-01-12 00:00:00 | Kraken | 40,981 | -2.59% |
| 2024-01-11 00:00:00 | Kraken | 42,072 | 15.71% |
| 2024-01-10 00:00:00 | Kraken | 36,359 | 17.87% |
| 2024-01-12 00:00:00 | KuCoin | 37,449 | -23.33% |
| 2024-01-11 00:00:00 | KuCoin | 48,845 | 58.52% |
| 2024-01-10 00:00:00 | KuCoin | 30,813 | -4.29% |
| 2024-01-12 00:00:00 | OKX | 114,686 | -11.13% |
| 2024-01-11 00:00:00 | OKX | 129,050 | 33.75% |
| 2024-01-10 00:00:00 | OKX | 96,485 | 7.18% |
Mining – Blockchain Technology
The ‘Mining’ table provides insights into the mining difficulty, mined blocks, block rewards, and hash rate in the cryptocurrency market. The analysis indicates relatively stable mining difficulty and block rewards, reflecting consistent mining activities. However, fluctuations in hash rate highlight the dynamic nature of computational mining capacity.
| Item | 2024-01-12 | 2024-01-11 | 2024-01-10 | 2024-01-09 | 2024-01-08 | 2024-01-07 | 2024-01-06 |
|---|---|---|---|---|---|---|---|
| Difficulty | 73.20T | 73.20T | 73.20T | 73.20T | 73.20T | 73.20T | 72.01T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.65% | 0.00% |
| Blocks | 825.38K | 825.21K | 825.07K | 824.92K | 824.80K | 824.68K | 824.54K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.01% | 0.01% | 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 | 614.94B | 483.94B | 553.08B | 447.56B | 429.36B | 509.41B | 493.96B |
| Hash Rate GB Variation | 27.07% | -12.50% | 23.58% | 4.24% | -15.71% | 3.13% | -18.34% |
Conclusion
In conclusion, the cryptocurrency market is currently showing a neutral/trending up trend with several factors indicating a positive sentiment. The approval of Bitcoin ETFs, surge in altcoins, increased trading volumes, and market optimism contribute to the overall positive outlook. However, it is important to consider the inherent volatility and uncertainties in the cryptocurrency market.
So What
The current state of the cryptocurrency market has practical implications for investors and participants. Increased market capitalization, positive sentiment, and growing interest in altcoins may present opportunities for investors seeking exposure to the cryptocurrency market. However, it is essential to exercise caution and conduct thorough research before making any investment decisions.
What next?
Looking ahead, it is important to closely monitor regulatory developments, market conditions, and global economic events that could impact the cryptocurrency market. Additionally, the potential approval of more Bitcoin ETFs, further market adoption, and advancements in blockchain technology could shape the future trajectory of 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.
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.
