πŸ“ƒ Jan 25, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

The cryptocurrency market is currently experiencing a neutral to slightly positive trend. Based on the analysis of the available data, there are several factors indicating an upward momentum in the market for the next 8 hours. However, it is important to approach these insights with caution as the cryptocurrency market can be highly volatile and subject to rapid changes.

What is important

In the current state of the cryptocurrency market, several key points are essential to understanding its dynamics. Bitcoin remains the dominant cryptocurrency, with significant attention from investors and traders. Ethereum continues to play a crucial role as the second-largest cryptocurrency, driving innovations such as spot ETFs. The market is also influenced by the performance of major exchanges and the mining ecosystem, which directly impact liquidity and security. Additionally, economic events and regulatory decisions can significantly affect market sentiment and price movements.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Solana and ICP up over 49% against Bitcoin since SEC labeled them as securities– Solana and ICP have seen significant gains against Bitcoin since being labeled as securities by the SEC.
  2. Ethereum Spot ETFs: SEC Commissioner Signals Smooth Path For Approval, Β΄No Lawsuit Needed´– The SEC commissioner signals a smooth approval process for Ethereum spot ETFs.
  3. Bitcoin Overtakes Silver As Second Largest ETF Commodity– Bitcoin has surpassed silver to become the second-largest ETF commodity.
  4. Bitcoin ETFs Mark A Transformative Moment– Bitcoin ETFs are transforming the cryptocurrency market, while ESE Entertainment is integrating gaming with crypto.
  5. Coinbase Institutional execs say Β΄crypto can go mainstreamΒ΄ with spot bitcoin ETFs now live– Coinbase institutional execs believe that cryptocurrencies can become mainstream with the introduction of spot Bitcoin ETFs.

Factors DrivingΒ the Growth – Market Sentiment

Analyzing the ‘Positive Keywords’ and ‘Negative Keywords’ tables, it is evident that Bitcoin, cryptocurrency market, and regulatory-related terms dominate the news sentiment. Positive sentiment is observed around the approval of spot Bitcoin ETFs, advancements in blockchain technology, and the overall resilience of the market. However, negative sentiment emerges from concerns about potential regulations, price drops, and issues related to security and scams.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
24bitcoin
18cryptocurrency market
17binance
15solana
10cryptocurrency
10cryptocurrency exchange
9ethereum
7bitcoin etfs
6token extensions
5bitcoin etf

Negative Terms – Sentiment Analysis

OccurrencesKeyword
9bitcoin
6north korea
5cryptocurrency market
5sec
42023
4bulgaria
3crypto hackers
3lawsuit
3nexo
3traders

Crypto Investor Fear & Greed Index

The ‘Fear and Greed Indicators’ table provides insights into the market sentiment based on the Fear and Greed Index. With values ranging from extreme fear to extreme greed, it is observed that the market sentiment is currently in a neutral to slightly greedy state. This indicates a growing optimism and confidence among traders and investors, which can have a positive impact on market dynamics.

DateValueVariationSource
2024-01-25 00:00:0048pt0ptAlternative.me
2024-01-25 00:00:0052pt4ptAlternative.me
2024-01-24 00:00:0048pt-2ptAlternative.me
2024-01-24 00:00:0050pt0ptAlternative.me
2024-01-23 00:00:0050pt-5ptAlternative.me
2024-01-23 00:00:0055pt0ptAlternative.me
2024-01-25 00:00:0048pt-2ptBitDegree.org
2024-01-24 00:00:0050pt0ptBitDegree.org
2024-01-23 09:00:0050pt-5ptBitDegree.org
2024-01-23 00:00:0055pt0ptBitDegree.org
2024-01-25 00:00:0030pt0ptBtcTools.io
2024-01-24 16:00:0030pt-2ptBtcTools.io
2024-01-24 08:00:0032pt1ptBtcTools.io
2024-01-24 00:00:0031pt-1ptBtcTools.io
2024-01-23 16:00:0032pt-3ptBtcTools.io
2024-01-23 08:00:0035pt2ptBtcTools.io
2024-01-23 00:00:0033pt-4ptBtcTools.io
2024-01-22 16:00:0037pt0ptBtcTools.io
2024-01-25 00:00:0052pt4ptCoinstats.app
2024-01-24 00:00:0048pt-2ptCoinstats.app
2024-01-23 00:00:0050pt0ptCoinstats.app

Bitcoin: Active Addresses

Analyzing the ‘Bitcoin Address Indicators’ table, it is observed that the number of active Bitcoin addresses has been fluctuating, with variations in wallet balances and quantities. While there is insufficient data to ascertain any clear trends or conclusions, it is crucial to monitor these indicators as they can provide insights into the level of participation and activity within the Bitcoin network.

DateAddressesVariationIndicatorSource
2024-01-25 08:00:001,204,966,0890.00%Total Addressesbitaps.com
2024-01-25 08:00:001,155,354,2220.00%Zero Balance Addressesbitaps.com
2024-01-25 08:00:001,055,535-0.27%Bitcoin Active Addressesbtc.com
2024-01-25 08:00:00540,5810.00%Addresses with over 0bitaps.com
2024-01-25 08:00:00219,3650.00%Addresses with over 0.0000001bitaps.com
2024-01-25 08:00:002,612,8760.00%Addresses with over 0.000001bitaps.com
2024-01-25 08:00:009,037,5390.00%Addresses with over 0.00001bitaps.com
2024-01-25 08:00:0012,830,361-0.05%Addresses with over 0.0001bitaps.com
2024-01-25 08:00:0011,868,061-0.01%Addresses with over 0.001bitaps.com
2024-01-25 08:00:007,969,155-0.02%Addresses with over 0.01bitaps.com
2024-01-25 08:00:003,519,5700.00%Addresses with over 0.1bitaps.com
2024-01-25 08:00:00860,0360.00%Addresses with over 1bitaps.com
2024-01-25 08:00:00138,4670.01%Addresses with over 10bitaps.com
2024-01-25 08:00:0013,8470.01%Addresses with over 100bitaps.com
2024-01-25 08:00:001,898-0.05%Addresses with over 1,000bitaps.com
2024-01-25 08:00:001070.00%Addresses with over 10,000bitaps.com
2024-01-25 08:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table highlights several significant events in the global financial market that have the potential to impact the cryptocurrency market indirectly. These events include monetary policy decisions, economic indicators, and market reports. Traders and investors should pay attention to these events as they can influence market sentiment and trigger price fluctuations.

DateImpactEvent
2024-01-26 15:00:00ModeratePending Home Sales Index Month over Month
2024-01-26 15:00:00ModeratePending Home Sales Index Index
2024-01-26 13:30:00HighPersonal Income and Outlays Core PCE Price Index – M/M
2024-01-26 13:30:00HighPersonal Income and Outlays PCE Price Index – M/M
2024-01-26 13:30:00HighPersonal Income and Outlays Personal Income – M/M
2024-01-26 13:30:00HighPersonal Income and Outlays Personal Consumption Expenditures – M/M
2024-01-26 13:30:00HighPersonal Income and Outlays Core PCE Price Index – Y/Y
2024-01-26 13:30:00HighPersonal Income and Outlays PCE Price Index – Y/Y
2024-01-25 23:50:00ModerateJPY – Monetary Policy Meeting Minutes
2024-01-25 23:30:00ModerateJPY – Tokyo Core CPI (YoY) (Jan)
2024-01-25 21:30:00ModerateUSD – FedΒ΄s Balance Sheet
2024-01-25 18:00:00ModerateUSD – 7-Year Note Auction
2024-01-25 16:00:00ModerateEUR – ECB President Lagarde Speaks
2024-01-25 15:30:00ModerateEIA Natural Gas Report Week over Week
2024-01-25 15:15:00ModerateEUR – ECB President Lagarde Speaks
2024-01-25 15:00:00HighUSD – New Home Sales (Dec)
2024-01-25 15:00:00ModerateUSD – New Home Sales (MoM) (Dec)
2024-01-25 15:00:00HighNew Home Sales Annual Rate
2024-01-25 13:45:00HighEUR – ECB Press Conference
2024-01-25 13:30:00ModerateUSD – Retail Inventories Ex Auto (Dec)
2024-01-25 13:30:00HighUSD – Initial Jobless Claims
2024-01-25 13:30:00ModerateUSD – Goods Trade Balance (Dec)
2024-01-25 13:30:00ModerateUSD – GDP Price Index (QoQ) (Q4)
2024-01-25 13:30:00HighUSD – GDP (QoQ) (Q4)
2024-01-25 13:30:00ModerateUSD – Durable Goods Orders (MoM) (Dec)
2024-01-25 13:30:00HighUSD – Core Durable Goods Orders (MoM) (Dec)
2024-01-25 13:30:00ModerateUSD – Continuing Jobless Claims
2024-01-25 13:30:00ModerateUSD – Building Permits
2024-01-25 13:30:00HighJobless Claims Initial Claims – Change
2024-01-25 13:30:00HighDurable Goods Orders New Orders – M/M
2024-01-25 13:30:00HighGDP Personal Consumption Expenditures – Annual Rate
2024-01-25 13:30:00HighGDP Quarter over Quarter – Annual Rate
2024-01-25 13:30:00HighDurable Goods Orders Core Capital Goods – M/M
2024-01-25 13:30:00HighInternational Trade in Goods (Advance) Imports – M/M
2024-01-25 13:30:00HighDurable Goods Orders Ex-Transportation – M/M
2024-01-25 13:30:00HighInternational Trade in Goods (Advance) Balance
2024-01-25 13:30:00HighJobless Claims 4-Week Moving Average
2024-01-25 13:30:00HighJobless Claims Initial Claims – Level
2024-01-25 13:30:00HighInternational Trade in Goods (Advance) Exports – M/M
2024-01-25 13:15:00HighEUR – ECB Interest Rate Decision (Jan)
2024-01-25 13:15:00ModerateEUR – ECB Monetary Policy Statement
2024-01-25 13:15:00ModerateEUR – ECB Marginal Lending Facility
2024-01-25 13:15:00HighEUR – Deposit Facility Rate (Jan)
2024-01-25 13:00:00ModerateZAR – Interest Rate Decision (Jan)
2024-01-25 11:00:00ModerateEUR – France Jobseekers Total
2024-01-25 09:00:00ModerateEUR – German Ifo Business Climate Index (Jan)
2024-01-25 09:00:00ModerateEUR – German Current Assessment (Jan)
2024-01-25 09:00:00ModerateEUR – German Business Expectations (Jan)
2024-01-24 18:00:00ModerateUSD – 5-Year Note Auction
2024-01-24 16:00:00ModerateCAD – BOC Press Conference
2024-01-24 15:30:00ModerateUSD – Cushing Crude Oil Inventories
2024-01-24 15:30:00HighUSD – Crude Oil Inventories
2024-01-24 15:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-01-24 15:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-01-24 15:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-01-24 15:00:00ModerateCAD – BoC Monetary Policy Report
2024-01-24 14:45:00HighCAD – BoC Interest Rate Decision
2024-01-24 14:45:00ModerateCAD – BoC Rate Statement
2024-01-24 14:45:00HighUSD – S&P Global Services PMI (Jan)
2024-01-24 14:45:00ModerateUSD – S&P Global Composite PMI (Jan)
2024-01-24 14:45:00HighUSD – S&P Global US Manufacturing PMI (Jan)
2024-01-24 14:45:00ModeratePMI Composite Flash Composite Index
2024-01-24 14:45:00ModeratePMI Composite Flash Manufacturing Index
2024-01-24 14:45:00ModeratePMI Composite Flash Services Index
2024-01-24 09:30:00ModerateGBP – S&P Global/CIPS UK Services PMI
2024-01-24 09:30:00ModerateGBP – S&P Global/CIPS UK Manufacturing PMI
2024-01-24 09:30:00ModerateGBP – S&P Global/CIPS UK Composite PMI
2024-01-24 09:00:00ModerateEUR – HCOB Eurozone Services PMI (Jan)
2024-01-24 09:00:00ModerateEUR – HCOB Eurozone Composite PMI (Jan)
2024-01-24 09:00:00ModerateEUR – HCOB Eurozone Manufacturing PMI (Jan)
2024-01-24 08:30:00ModerateEUR – HCOB Germany Services PMI (Jan)
2024-01-24 08:30:00ModerateEUR – HCOB Germany Manufacturing PMI (Jan)
2024-01-24 08:15:00ModerateEUR – HCOB France Services PMI (Jan)
2024-01-24 08:15:00ModerateEUR – HCOB France Manufacturing PMI (Jan)

Crypto Assets Prices

The ‘Prices’ table illustrates the price variations and volatility of major cryptocurrencies. Based on the data, Bitcoin, Ethereum, and Binance Coin have experienced both positive and negative price movements. It is important to note that cryptocurrency prices are influenced by numerous factors, including market demand, investor sentiment, regulatory developments, and overall market conditions.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-01-25 08:05:00Bitcoin40,124.140.19%0.42-1.05%2.71-1.68%
2024-01-24 08:05:00Bitcoin40,047.370.55%1.484.24%4.40-0.20%
2024-01-23 08:05:00Bitcoin39,826.97-2.86%-2.76-1.09%4.601.65%
2024-01-25 08:05:00Ethereum2,228.15-0.42%-0.362.11%3.12-2.84%
2024-01-24 08:05:00Ethereum2,237.46-3.90%-2.471.11%5.961.07%
2024-01-23 08:05:00Ethereum2,324.70-4.02%-3.58-1.32%4.881.57%
2024-01-25 08:05:00Binance Coin292.20-0.79%-0.413.00%3.62-1.55%
2024-01-24 08:05:00Binance Coin294.50-4.96%-3.41-1.17%5.170.95%
2024-01-23 08:05:00Binance Coin309.10-2.62%-2.25-2.21%4.221.80%

CryptocurrencyΒ Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table provides insights into the total market capitalization and trading volumes of major cryptocurrencies. The data highlights the significance of Bitcoin, Ethereum, and Tether in terms of capitalization and trading activity. Monitoring market capitalizations and volumes is crucial for understanding the overall liquidity and market dynamics of cryptocurrencies.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-01-25 00:00:00Binance Coin45,053,930,775-1.91%934,572,833-19.75%
2024-01-24 00:00:00Binance Coin45,930,160,546-2.31%1,164,592,17130.27%
2024-01-23 00:00:00Binance Coin47,014,266,561-4.04%893,961,44178.05%
2024-01-25 00:00:00Bitcoin785,590,648,0690.54%22,324,289,350-23.70%
2024-01-24 00:00:00Bitcoin781,364,397,2060.84%29,259,979,001-7.67%
2024-01-23 00:00:00Bitcoin774,858,983,970-4.87%31,690,994,095266.60%
2024-01-25 00:00:00Ethereum268,378,063,983-0.40%10,546,243,718-40.24%
2024-01-24 00:00:00Ethereum269,468,754,060-3.07%17,647,323,54815.15%
2024-01-23 00:00:00Ethereum278,006,525,168-5.76%15,324,927,798250.60%
2024-01-25 00:00:00Tether95,512,604,444-0.03%34,625,139,220-28.83%
2024-01-24 00:00:00Tether95,539,867,0550.81%48,649,425,7705.06%
2024-01-23 00:00:00Tether94,768,937,396-0.10%46,307,045,660171.44%

Cryptocurrency Exchanges Volume and Variation

Analyzing the ‘Exchanges’ table, it is observed that various exchanges play a pivotal role in the cryptocurrency market. Binance, Binance US, and Coinbase stand out as major exchanges with significant trading volumes. The performance and reputation of exchanges can impact market sentiment and liquidity, making it essential for traders to consider the exchange landscape when entering trades or investing in cryptocurrencies.

DateExchangeVolumeVariation
2024-01-25 00:00:00Binance300,793-30.42%
2024-01-24 00:00:00Binance432,2763.42%
2024-01-23 00:00:00Binance417,998188.57%
2024-01-25 00:00:00Binance US266-36.06%
2024-01-24 00:00:00Binance US416-17.46%
2024-01-23 00:00:00Binance US504168.09%
2024-01-25 00:00:00Bitfinex5,854-37.28%
2024-01-24 00:00:00Bitfinex9,334-8.14%
2024-01-23 00:00:00Bitfinex10,161245.97%
2024-01-25 00:00:00Bybit58,725-35.07%
2024-01-24 00:00:00Bybit90,4413.61%
2024-01-23 00:00:00Bybit87,289274.53%
2024-01-25 00:00:00Coinbase48,036-29.64%
2024-01-24 00:00:00Coinbase68,274-4.27%
2024-01-23 00:00:00Coinbase71,322329.11%
2024-01-25 00:00:00Crypto.com30,861-10.45%
2024-01-24 00:00:00Crypto.com34,464-7.65%
2024-01-23 00:00:00Crypto.com37,319229.38%
2024-01-25 00:00:00Gate.io23,248-32.65%
2024-01-24 00:00:00Gate.io34,5170.42%
2024-01-23 00:00:00Gate.io34,371129.84%
2024-01-25 00:00:00Kraken21,738-20.80%
2024-01-24 00:00:00Kraken27,446-0.31%
2024-01-23 00:00:00Kraken27,530366.53%
2024-01-25 00:00:00KuCoin18,509-25.47%
2024-01-24 00:00:00KuCoin24,8346.07%
2024-01-23 00:00:00KuCoin23,41390.37%
2024-01-25 00:00:00OKX43,638-37.58%
2024-01-24 00:00:00OKX69,9121.48%
2024-01-23 00:00:00OKX68,894198.27%

Mining – Blockchain Technology

The ‘Mining’ table provides insights into the mining ecosystem, including difficulty levels, mined blocks, block rewards, and hash rate. The data reveals variations in mining difficulty, block production, and hash rate, reflecting the dynamic nature of the mining community. These indicators are crucial to assess the overall computational power and security of cryptocurrencies.

Item2024-01-252024-01-242024-01-232024-01-222024-01-212024-01-202024-01-19
Difficulty70.34T70.34T70.34T70.34T70.34T73.20T73.20T
Difficulty Variation0.00%0.00%0.00%0.00%-3.90%0.00%0.00%
Blocks827.21K827.06K826.91K826.75K826.61K826.47K826.33K
Blocks Variation0.02%0.02%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 GB521.02B535.01B559.49B486.05B493.05B480.30B516.69B
Hash Rate GB Variation-2.61%-4.37%15.11%-1.42%2.65%-7.04%17.36%

Conclusion

In conclusion, the cryptocurrency market is currently experiencing a neutral to slightly positive trend. Positive and negative sentiment coexist, driven by factors such as spot Bitcoin ETF approvals, advancements in technology, regulatory concerns, and price fluctuations. Market participants should closely monitor developments in the industry, including economic events, mining activities, and exchange dynamics, to make informed decisions. While the market shows signs of resilience and optimism, caution should be exercised due to its inherent volatility and the potential for rapid changes.

So What

The current state of the cryptocurrency market holds practical implications for market participants. It signifies opportunities for traders and investors to capitalize on the positive trends and innovations in the industry. However, it is crucial to remain vigilant and conduct thorough research before making any investment decisions. Due to the market’s volatile nature, it is essential to consider risk management strategies and diversify investment portfolios.

What next?

Looking ahead, the cryptocurrency market is anticipated to continue evolving rapidly. Regulatory developments, technological advancements, and market dynamics will shape its future trajectory. As the industry matures, increased adoption and regulatory clarity could drive further growth and stability. However, market participants should remain attentive to risk factors such as market manipulation, security concerns, and regulatory changes. Staying informed and adaptable will be instrumental in navigating the ever-changing landscape of the cryptocurrency 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.

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