πŸ“ƒ Jan 17, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

The cryptocurrency market has shown signs of a neutral to upward trend in the past 24 hours. Based on the analysis of various data tables, there is evidence to support a positive outlook for the next 8 hours. However, it’s essential to consider the dynamic nature of the market and exercise caution in making investment decisions.

What is important

In the current state of the cryptocurrency market, several factors are essential to understand. The positive keywords indicate a prevailing positive sentiment, with mentions of Bitcoin, Ethereum, and Binance Coin. On the other hand, the negative keywords highlight concerns related to Bitcoin, Tether, and Ripple. Additionally, economic events and exchange activity play a crucial role in shaping the market. Lastly, mining activities and market capitalization provide insights into the overall health and performance of the cryptocurrency market.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Coinbase Announces Support for Hivemapper (HONEY) on Solana Network– Coinbase announces support for HiveMapper Honey on Solana network.
  2. ETF approved! Ethereum (ETH) Next?– An Ethereum (ETH) ETF may be approved after the recent Bitcoin (BTC) ETF approval.
  3. First Mover Americas: Binance Traders Led ‘Sell-The-Fact’ Pullback in Bitcoin– Binance traders led a sell-off in Bitcoin following the ‘sell the fact’ pullback.
  4. Attempted Bitfinex Exploit for $15 Billion XRP Fails– An attempted exploit on Bitfinex involving $1.5 billion worth of XRP failed.
  5. Ethereum Trouncing Bitcoin, ETH/BTC Ratio Bouncing Higher: Will This Trend Continue?– The Ethereum Bitcoin ratio is rebounding in the cryptocurrency market.

Factors DrivingΒ the Growth – Market Sentiment

The analysis of positive and negative keywords reveals a mixed sentiment in the cryptocurrency market. Positive mentions of Bitcoin, Ethereum, and Binance Coin indicate ongoing interest and potential growth opportunities. However, negative keywords such as Tether and Ripple signify areas of concern that may impact market sentiment. It’s crucial to monitor these keywords to understand market dynamics and make informed decisions.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
35bitcoin
32cryptocurrency market
24ethereum
20binance
17solana
15cryptocurrency
15shiba inu
14bitcoin etf
132024
12chainlink

Negative Terms – Sentiment Analysis

OccurrencesKeyword
16bitcoin
8cryptocurrency market
8tether
5ripple
5stablecoin
4ceo
4core scientific
4cryptocurrency
4sec
4tusd

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators table provides valuable insights into the overall market sentiment. As of the latest data, the Fear and Greed Index lies within the range of greed, suggesting a moderate positive sentiment. However, it’s important to note that market sentiment can swiftly change based on various factors such as economic events, regulatory developments, and market volatility.

DateValueVariationSource
2024-01-17 00:00:0060pt-4ptAlternative.me
2024-01-17 00:00:0064pt0ptAlternative.me
2024-01-16 00:00:0052pt0ptAlternative.me
2024-01-16 00:00:0064pt12ptAlternative.me
2024-01-15 00:00:0052pt-8ptAlternative.me
2024-01-15 00:00:0060pt0ptAlternative.me
2024-01-17 00:00:0064pt0ptBitDegree.org
2024-01-16 09:00:0064pt12ptBitDegree.org
2024-01-16 00:00:0052pt0ptBitDegree.org
2024-01-15 14:00:0052pt-8ptBitDegree.org
2024-01-15 00:00:0060pt0ptBitDegree.org
2024-01-17 08:00:0040pt1ptBtcTools.io
2024-01-17 00:00:0039pt0ptBtcTools.io
2024-01-16 16:00:0039pt1ptBtcTools.io
2024-01-16 08:00:0038pt2ptBtcTools.io
2024-01-16 00:00:0036pt-1ptBtcTools.io
2024-01-15 16:00:0037pt1ptBtcTools.io
2024-01-15 08:00:0036pt1ptBtcTools.io
2024-01-15 00:00:0035pt-8ptBtcTools.io
2024-01-14 16:00:0043pt0ptBtcTools.io
2024-01-17 00:00:0060pt-4ptCoinstats.app
2024-01-16 00:00:0064pt12ptCoinstats.app
2024-01-15 00:00:0052pt0ptCoinstats.app

Bitcoin: Active Addresses

The Bitcoin Address Indicators table offers valuable information about the active addresses and wallet balances in the Bitcoin network. The data reveals fluctuations in the number of addresses and variations in wallet balances. These indicators reflect the level of activity and engagement of Bitcoin users. Monitoring these indicators can provide insights into market demand and trends.

DateAddressesVariationIndicatorSource
2024-01-17 08:00:001,202,990,5180.00%Total Addressesbitaps.com
2024-01-17 08:00:001,153,162,0790.00%Zero Balance Addressesbitaps.com
2024-01-17 08:00:00741,505-0.98%Bitcoin Active Addressesbtc.com
2024-01-17 08:00:00540,5660.00%Addresses with over 0bitaps.com
2024-01-17 08:00:00219,3640.00%Addresses with over 0.0000001bitaps.com
2024-01-17 08:00:002,606,5450.00%Addresses with over 0.000001bitaps.com
2024-01-17 08:00:009,026,7530.00%Addresses with over 0.00001bitaps.com
2024-01-17 08:00:0012,845,9030.00%Addresses with over 0.0001bitaps.com
2024-01-17 08:00:0011,987,2940.01%Addresses with over 0.001bitaps.com
2024-01-17 08:00:008,061,6980.01%Addresses with over 0.01bitaps.com
2024-01-17 08:00:003,525,5590.00%Addresses with over 0.1bitaps.com
2024-01-17 08:00:00860,3380.00%Addresses with over 1bitaps.com
2024-01-17 08:00:00138,5220.02%Addresses with over 10bitaps.com
2024-01-17 08:00:0013,893-0.02%Addresses with over 100bitaps.com
2024-01-17 08:00:001,8970.00%Addresses with over 1,000bitaps.com
2024-01-17 08:00:001030.00%Addresses with over 10,000bitaps.com
2024-01-17 08:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The Economic Events table includes significant financial events that impact the cryptocurrency market. Monitoring these events helps gauge the potential influence on cryptocurrency prices and investor sentiment. Traders and investors should pay close attention to events such as petroleum reports, jobless claims, housing starts and permits, and central bank speeches to stay informed about potential market movements.

DateImpactEvent
2024-01-18 16:00:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-01-18 16:00:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-01-18 16:00:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-01-18 15:30:00ModerateEIA Natural Gas Report Week over Week
2024-01-18 13:30:00HighHousing Starts and Permits Permits – Annual Rate
2024-01-18 13:30:00ModeratePhiladelphia Fed Manufacturing Index Index
2024-01-18 13:30:00HighJobless Claims Initial Claims – Change
2024-01-18 13:30:00HighJobless Claims Initial Claims – Level
2024-01-18 13:30:00HighHousing Starts and Permits Starts – Annual Rate
2024-01-18 13:30:00HighJobless Claims 4-Week Moving Average
2024-01-17 21:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-01-17 20:00:00ModerateUSD – FOMC Member Williams Speaks
2024-01-17 19:00:00ModerateUSD – Beige Book
2024-01-17 18:30:00ModerateEUR – German Buba President Nagel Speaks
2024-01-17 18:00:00ModerateUSD – Atlanta Fed GDPNow (Q4)
2024-01-17 18:00:00ModerateUSD – 20-Year Bond Auction
2024-01-17 15:15:00ModerateEUR – ECB President Lagarde Speaks
2024-01-17 15:00:00ModerateUSD – Retail Inventories Ex Auto (Nov)
2024-01-17 15:00:00ModerateUSD – Business Inventories (MoM) (Nov)
2024-01-17 15:00:00ModerateBusiness Inventories Month over Month
2024-01-17 15:00:00ModerateHousing Market Index Index
2024-01-17 14:15:00ModerateUSD – Industrial Production (YoY) (Dec)
2024-01-17 14:15:00ModerateUSD – Industrial Production (MoM) (Dec)
2024-01-17 14:15:00ModerateGBP – BoE Deputy Governor Woods Speaks
2024-01-17 14:15:00HighIndustrial Production Capacity Utilization Rate
2024-01-17 14:15:00HighIndustrial Production Manufacturing Output – M/M
2024-01-17 14:15:00HighIndustrial Production Industrial Production – M/M
2024-01-17 14:00:00ModerateUSD – FOMC Member Bowman Speaks
2024-01-17 13:30:00ModerateCAD – RMPI (MoM) (Dec)
2024-01-17 13:30:00ModerateCAD – Foreign Securities Purchases (Nov)
2024-01-17 13:30:00HighUSD – Retail Sales (MoM) (Dec)
2024-01-17 13:30:00ModerateUSD – Retail Control (MoM) (Dec)
2024-01-17 13:30:00ModerateUSD – Import Price Index (MoM) (Dec)
2024-01-17 13:30:00ModerateUSD – Export Price Index (MoM) (Dec)
2024-01-17 13:30:00HighUSD – Core Retail Sales (MoM) (Dec)
2024-01-17 13:30:00HighRetail Sales Retail Sales – M/M
2024-01-17 13:30:00HighRetail Sales Ex-Vehicles – M/M
2024-01-17 13:30:00ModerateImport and Export Prices Export Prices – M/M
2024-01-17 13:30:00ModerateImport and Export Prices Export Prices – Y/Y
2024-01-17 13:30:00ModerateImport and Export Prices Import Prices – Y/Y
2024-01-17 13:30:00ModerateImport and Export Prices Import Prices – M/M
2024-01-17 13:30:00HighRetail Sales Ex-Vehicles & Gas – M/M
2024-01-17 12:00:00ModerateBRL – Retail Sales (YoY) (Nov)
2024-01-17 12:00:00ModerateBRL – Retail Sales (MoM) (Nov)
2024-01-17 12:00:00ModerateUSD – OPEC Monthly Report
2024-01-17 10:00:00HighEUR – CPI (YoY) (Dec)
2024-01-17 10:00:00ModerateEUR – CPI (MoM) (Dec)
2024-01-17 10:00:00ModerateEUR – Core CPI (YoY) (Dec)
2024-01-17 08:00:00ModerateCHF – World Economic Forum Annual Meetings
2024-01-17 07:00:00ModerateGBP – PPI Input (MoM) (Dec)
2024-01-17 07:00:00HighGBP – CPI (YoY) (Dec)
2024-01-17 07:00:00ModerateGBP – CPI (MoM) (Dec)
2024-01-17 02:00:00ModerateCNY – NBS Press Conference
2024-01-17 02:00:00ModerateCNY – Chinese Unemployment Rate (Dec)
2024-01-17 02:00:00ModerateCNY – Chinese Industrial Production YTD (YoY) (Dec)
2024-01-17 02:00:00ModerateCNY – Industrial Production (YoY) (Dec)
2024-01-17 02:00:00ModerateCNY – Chinese GDP YTD (YoY) (Q4)
2024-01-17 02:00:00HighCNY – GDP (YoY) (Q4)
2024-01-17 02:00:00ModerateCNY – GDP (QoQ) (Q4)
2024-01-17 02:00:00ModerateCNY – Fixed Asset Investment (YoY) (Dec)
2024-01-16 21:45:00ModerateNZD – Electronic Card Retail Sales (MoM) (Dec)
2024-01-16 16:00:00ModerateUSD – Fed Waller Speaks
2024-01-16 15:00:00ModerateGBP – BoE Gov Bailey Speaks
2024-01-16 13:30:00ModerateCAD – CPI (MoM) (Dec)
2024-01-16 13:30:00ModerateCAD – Core CPI (YoY) (Dec)
2024-01-16 13:30:00ModerateCAD – Core CPI (MoM) (Dec)
2024-01-16 13:30:00ModerateUSD – NY Empire State Manufacturing Index (Jan)
2024-01-16 13:30:00ModerateEmpire State Manufacturing Index Index
2024-01-16 13:15:00ModerateCAD – Housing Starts (Dec)
2024-01-16 11:10:00ModerateEUR – German Buba President Nagel Speaks
2024-01-16 10:00:00ModerateEUR – ZEW Economic Sentiment (Jan)
2024-01-16 10:00:00ModerateEUR – German ZEW Economic Sentiment (Jan)
2024-01-16 10:00:00ModerateEUR – German ZEW Current Conditions (Jan)

Crypto Assets Prices

The Prices table presents the latest price data for major cryptocurrencies. Analyzing trends and variations in prices can provide valuable insights into market sentiment and potential trading opportunities. Traders and investors should consider factors such as price volatility and previous price variations when making decisions.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-01-17 08:05:00Bitcoin42,622.00-0.38%-0.91-1.15%3.630.70%
2024-01-16 08:05:00Bitcoin42,782.050.22%0.240.96%2.93-0.33%
2024-01-15 08:05:00Bitcoin42,687.46-0.77%-0.72-0.36%3.261.49%
2024-01-17 08:05:00Ethereum2,548.040.82%0.16-0.40%4.582.44%
2024-01-16 08:05:00Ethereum2,527.180.60%0.562.17%2.14-1.25%
2024-01-15 08:05:00Ethereum2,512.03-1.39%-1.61-1.27%3.390.66%
2024-01-17 08:05:00Binance Coin308.50-2.30%-2.71-3.03%3.600.94%
2024-01-16 08:05:00Binance Coin315.600.48%0.32-2.73%2.66-4.44%
2024-01-15 08:05:00Binance Coin314.103.18%3.051.68%7.104.27%

CryptocurrencyΒ Capitalization and Volume

The Market Capitalizations and Volumes table highlights the total market capitalization and volume of major cryptocurrencies. Analyzing trends and variations in these metrics offers valuable information about the overall market sentiment and liquidity. Traders and investors can use this data to assess the market’s attractiveness and potential trading opportunities.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-01-17 00:00:00Binance Coin48,491,259,884-0.68%1,040,115,686-57.82%
2024-01-16 00:00:00Binance Coin48,823,898,7946.00%2,466,023,724296.31%
2024-01-15 00:00:00Binance Coin46,059,178,948-0.94%622,240,431-9.87%
2024-01-17 00:00:00Bitcoin845,396,636,1101.44%19,021,915,873-15.41%
2024-01-16 00:00:00Bitcoin833,394,801,2841.73%22,487,586,19530.81%
2024-01-15 00:00:00Bitcoin819,259,554,966-2.44%17,190,607,209-11.64%
2024-01-17 00:00:00Ethereum310,996,304,9473.04%14,833,962,510-14.06%
2024-01-16 00:00:00Ethereum301,828,269,6601.74%17,259,891,83737.28%
2024-01-15 00:00:00Ethereum296,658,596,071-4.16%12,572,775,900-45.82%
2024-01-17 00:00:00Tether95,104,647,040-0.16%41,189,067,13416.99%
2024-01-16 00:00:00Tether95,255,892,0930.22%35,207,803,82715.46%
2024-01-15 00:00:00Tether95,050,997,2310.06%30,492,652,532-6.36%

Cryptocurrency Exchanges Volume and Variation

The Exchanges table provides insights into trading volumes and variations across major cryptocurrency exchanges. Monitoring these metrics helps identify shifts in trading activity and potential liquidity trends. Traders and investors should keep an eye on exchange volumes to understand market dynamics and identify potential trading opportunities.

DateExchangeVolumeVariation
2024-01-17 00:00:00Binance320,225-1.00%
2024-01-16 00:00:00Binance323,47133.86%
2024-01-15 00:00:00Binance241,641-7.91%
2024-01-17 00:00:00Binance US3306.80%
2024-01-16 00:00:00Binance US309-20.16%
2024-01-15 00:00:00Binance US3876.61%
2024-01-17 00:00:00Bitfinex3,207-6.61%
2024-01-16 00:00:00Bitfinex3,4340.41%
2024-01-15 00:00:00Bitfinex3,420-22.64%
2024-01-17 00:00:00Bybit53,1556.70%
2024-01-16 00:00:00Bybit49,8177.21%
2024-01-15 00:00:00Bybit46,468-20.67%
2024-01-17 00:00:00Coinbase51,64728.88%
2024-01-16 00:00:00Coinbase40,0732.27%
2024-01-15 00:00:00Coinbase39,182-3.66%
2024-01-17 00:00:00Crypto.com26,86627.31%
2024-01-16 00:00:00Crypto.com21,102-3.01%
2024-01-15 00:00:00Crypto.com21,757-22.07%
2024-01-17 00:00:00Gate.io26,8675.41%
2024-01-16 00:00:00Gate.io25,4872.59%
2024-01-15 00:00:00Gate.io24,843-4.89%
2024-01-17 00:00:00Kraken23,08811.74%
2024-01-16 00:00:00Kraken20,66368.07%
2024-01-15 00:00:00Kraken12,2949.18%
2024-01-17 00:00:00KuCoin18,439-3.45%
2024-01-16 00:00:00KuCoin19,0986.36%
2024-01-15 00:00:00KuCoin17,956-7.59%
2024-01-17 00:00:00OKX47,453-5.89%
2024-01-16 00:00:00OKX50,4210.58%
2024-01-15 00:00:00OKX50,128-4.17%

Mining – Blockchain Technology

The Mining table presents data related to mining activities in the cryptocurrency market, including mining difficulty, block rewards, and hash rate. Understanding these metrics is crucial as they reflect the network’s security, mining profitability, and overall network health. Traders and investors should monitor mining activities as they can impact market supply and network stability.

Item2024-01-172024-01-162024-01-152024-01-142024-01-132024-01-122024-01-11
Difficulty73.20T73.20T73.20T73.20T73.20T73.20T73.20T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks826.07K825.95K825.83K825.70K825.54K825.38K825.21K
Blocks Variation0.02%0.01%0.02%0.02%0.02%0.02%0.02%
Reward BTC6.256.256.256.256.256.256.25
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB451.20B414.81B462.11B574.91B611.30B614.94B483.94B
Hash Rate GB Variation8.77%-10.24%-19.62%-5.95%-0.59%27.07%-12.50%

Conclusion

In conclusion, the cryptocurrency market is currently experiencing a neutral to an upward trend with positive sentiment evident in various indicators. The analysis of keywords, fear and greed indicators, address indicators, economic events, prices, market capitalizations, exchanges, and mining activities provide insights into market dynamics. However, it’s important to note that the cryptocurrency market is highly volatile and subject to rapid changes. Therefore, careful analysis and risk management are essential for making informed investment decisions.

So What

Considering the current state of the cryptocurrency market, it is crucial for traders and investors to remain vigilant and conduct thorough analysis before making any investment decisions. The data suggests potential trading opportunities, but market conditions can rapidly change. It is advisable to exercise caution, establish risk management strategies, and stay informed about market news and developments.

What next?

Looking ahead, the cryptocurrency market is expected to continue its dynamic and volatile nature. Key factors to monitor include regulatory developments, economic indicators, market sentiment, and technological advancements. Additionally, upcoming events such as the Ethereum ETF potential approval and the performance of major cryptocurrencies will likely shape the market. Traders and investors should stay updated on these developments to adapt their strategies and take advantage of emerging opportunities.

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.

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