πŸ“ƒ Jul 01, 2024 – USA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

In the past 24 hours, the cryptocurrency market has shown a neutral to trending up trend. Bitcoin has experienced a recovery, reaching $63,000, while altcoins have witnessed a significant surge. This positive price movement indicates a potential bullish sentiment in the market. However, it is essential to remain cautious and consider various factors that may impact the market.

One of the significant factors to consider is the regulatory landscape. Recent news about crypto regulations and the Chinese government’s crackdown on Bitcoin mining have raised concerns among investors. These developments could potentially influence market sentiment and contribute to a degree of volatility.

Additionally, the upcoming economic events, such as the release of JOLTS Job Openings data and ECB President Lagarde’s speech, may have an impact on the market. Positive economic indicators and supportive statements from influential figures can further boost investor confidence and contribute to the bullish trend.

Furthermore, analyzing the Fear and Greed Indicators reveals that the market sentiment is currently in the greed range. However, it remains below the threshold for extreme greed, suggesting that there is still room for further market growth.

Considering the market capitalizations and volumes, Bitcoin remains dominant, with a market capitalization of over $1.2 trillion. Ethereum has also demonstrated strength with a market capitalization of over $400 billion. These figures indicate a healthy level of participation and interest in these cryptocurrencies.

Exchanges such as Binance, Coinbase, and Bitfinex have witnessed significant trading volumes, further supporting the positive trend in the market. However, it is crucial to monitor the varying volumes and variations across different exchanges to gain a comprehensive understanding of the overall market sentiment.

When examining the mining sector, the mining difficulty remains stable, while the hash rate has experienced slight fluctuations. These factors impact the supply of newly mined coins and the overall security of the network. It is important to note that several mining companies are reportedly switching to mine other cryptocurrencies due to rising operational costs, which could have implications for Bitcoin’s network and market dynamics.

In conclusion, the cryptocurrency market has shown a neutral to trending up trend in the past 24 hours. Positive price movements, strong market capitalizations, and active trading volumes contribute to the optimistic sentiment. However, regulatory developments, economic events, and mining dynamics should be closely monitored for potential impacts on the market. Overall, with cautious optimism, the market appears to be on a positive trajectory.

What is important

Key factors that are essential to understanding the current state of the cryptocurrency market are:

1. Price Recovery: Bitcoin has successfully recovered to $63,000, indicating potential bullish sentiment. Altcoins, including Ethereum and Binance Coin, have also demonstrated positive price movements, suggesting a broader market recovery.

2. Market Capitalizations: Bitcoin retains its dominant position with a market capitalization exceeding $1.2 trillion. Ethereum has also shown strength with a capitalization of over $400 billion. These figures highlight the significant presence and interest in these cryptocurrencies.

3. Trading Volumes: Exchanges like Binance, Coinbase, and Bitfinex have witnessed substantial trading volumes, indicating active market participation. Monitoring the variations and volumes across different exchanges provides insights into the overall market sentiment.

4. Economic Events: The release of key economic data, such as JOLTS Job Openings and speeches by influential figures like ECB President Lagarde, can influence market sentiment. Positive indicators and supportive statements may further contribute to the bullish trend.

These factors collectively shape the current landscape of the cryptocurrency market, indicating a potential upward trajectory for the near future.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Crypto Prices Today July 1: Bitcoin Recovers To $63K, Altcoin Market Soars– Bitcoin recovers to $63k as altcoin market soars.
  2. Bitcoin Price Prediction: BTC Bulls Set for Strong July Rebound After June Dip– Bitcoin bulls are expected to have a strong rebound in July after a dip in June.
  3. 3 things that can spoil a potentially bullish July for Bitcoin– The article discusses three factors that may spoil a bullish July for Bitcoin.
  4. Bitcoin price recovery to $62.5K could trigger breakout in TON, AVAX, KAS and XMR– BitcoinΒ΄s price recovery to $62.5K could trigger a breakout in TON, AVAX, KAS, and XMR.

Factors DrivingΒ the Growth – Market Sentiment

In analyzing the provided positive and negative sentiment keywords, several trends emerge. Positive sentiment keywords such as ‘bitcoin,’ ‘ethereum,’ and ‘price’ suggest a renewed focus on the recovery and upward movement of cryptocurrencies. Additionally, the keywords ‘surge,’ ‘profitable,’ and ‘bullish’ highlight the optimism surrounding the market. On the other hand, negative sentiment keywords like ‘securities fraud,’ ‘crypto regulations,’ and ‘bank for international settlements’ reflect concerns about regulatory developments and potential challenges in the industry. It is important to consider both positive and negative keywords to gain a holistic understanding of the sentiment within the cryptocurrency market.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
48bitcoin
30binance
19ethereum
15july
14price
13surge
12cryptocurrency market
11xrp
10solana
7feature

Negative Terms – Sentiment Analysis

OccurrencesKeyword
6bitcoin
4securities fraud
4shiba inu
3crypto regulations
3keith gill
3peter thiel
3vitalik buterin
2bank for international settlements
2bitcoin mining companies
2crypto

Crypto Investor Fear & Greed Index

According to the Fear and Greed Indicators, the market sentiment is currently in the greed range. The indicators suggest a positive sentiment overall, but it is important to note that the sentiment remains below extreme greed levels. This suggests that while there is optimism in the market, there is still room for further growth. Monitoring the fear and greed indicators provides insights into the psychological state of market participants and helps gauge market sentiment.

DateValueVariationSource
2024-07-01 00:00:0047pt0ptAlternative.me
2024-07-01 00:00:0053pt6ptAlternative.me
2024-06-30 00:00:0030pt0ptAlternative.me
2024-06-30 00:00:0047pt17ptAlternative.me
2024-06-29 00:00:0030pt0ptAlternative.me
2024-07-01 00:00:0047pt0ptBinance.com
2024-07-01 00:00:0053pt6ptBinance.com
2024-06-30 00:00:0030pt0ptBinance.com
2024-06-30 00:00:0047pt17ptBinance.com
2024-06-29 00:00:0030pt-17ptBinance.com
2024-06-29 00:00:0047pt0ptBinance.com
2024-07-01 00:00:0047pt17ptBitDegree.org
2024-06-30 00:00:0030pt0ptBitDegree.org
2024-06-29 00:00:0030pt0ptBitDegree.org
2024-07-01 08:00:0056pt6ptBtcTools.io
2024-07-01 00:00:0050pt7ptBtcTools.io
2024-06-30 16:00:0043pt1ptBtcTools.io
2024-06-30 08:00:0042pt-2ptBtcTools.io
2024-06-30 00:00:0044pt-1ptBtcTools.io
2024-06-29 16:00:0045pt1ptBtcTools.io
2024-06-29 08:00:0044pt2ptBtcTools.io
2024-06-29 00:00:0042pt1ptBtcTools.io
2024-06-28 16:00:0041pt0ptBtcTools.io
2024-07-01 00:00:0053pt6ptCoinstats.app
2024-06-30 00:00:0047pt17ptCoinstats.app
2024-06-29 00:00:0030pt0ptCoinstats.app
2024-07-01 00:00:0047pt0ptLookIntoBitcoin.com
2024-07-01 00:00:0053pt6ptLookIntoBitcoin.com
2024-06-30 00:00:0030pt0ptLookIntoBitcoin.com
2024-06-30 00:00:0047pt17ptLookIntoBitcoin.com
2024-06-29 00:00:0030pt-17ptLookIntoBitcoin.com
2024-06-29 00:00:0047pt0ptLookIntoBitcoin.com

Bitcoin: Active Addresses

Analyzing the Bitcoin Address Indicators reveals important insights into the activity and growth of the Bitcoin network. The total number of addresses and active addresses indicates the level of engagement and adoption of Bitcoin. Additionally, examining the addresses with different balance thresholds enables a deeper understanding of the distribution and behavior of wallet holders. While the dataset provides limited information, it demonstrates the ongoing activity and interest in Bitcoin.

DateAddressesVariationIndicatorSource
2024-07-01 14:00:001,302,621,7250.00%Total Addressesbitaps.com
2024-07-01 14:00:001,249,871,5340.00%Zero Balance Addressesbitaps.com
2024-07-01 14:00:00797,8712.94%Bitcoin Active Addressesbtc.com
2024-07-01 14:00:00540,7740.00%Addresses with over 0bitaps.com
2024-07-01 14:00:00219,3760.00%Addresses with over 0.0000001bitaps.com
2024-07-01 14:00:003,502,8980.01%Addresses with over 0.000001bitaps.com
2024-07-01 14:00:0010,425,2730.03%Addresses with over 0.00001bitaps.com
2024-07-01 14:00:0013,654,183-0.01%Addresses with over 0.0001bitaps.com
2024-07-01 14:00:0011,821,456-0.01%Addresses with over 0.001bitaps.com
2024-07-01 14:00:008,033,8190.01%Addresses with over 0.01bitaps.com
2024-07-01 14:00:003,542,2520.00%Addresses with over 0.1bitaps.com
2024-07-01 14:00:00857,3870.01%Addresses with over 1bitaps.com
2024-07-01 14:00:00136,902-0.04%Addresses with over 10bitaps.com
2024-07-01 14:00:0013,8130.02%Addresses with over 100bitaps.com
2024-07-01 14:00:001,9540.05%Addresses with over 1,000bitaps.com
2024-07-01 14:00:00100-1.00%Addresses with over 10,000bitaps.com
2024-07-01 14:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The Economic Events dataset highlights important events and indicators that could influence the cryptocurrency market. Monitoring events like JOLTS Job Openings, the ECB President’s speech, and PMI manufacturing indices provides crucial economic data that can impact investor sentiment and overall market dynamics. Keeping track of these events allows for a comprehensive understanding of potential market drivers.

DateImpactEvent
2024-07-02 14:00:00ModerateJOLTS Job Openings
2024-07-02 00:00:00ModerateMotor Vehicle Sales North American-Made Sales – Annual Rate
2024-07-02 00:00:00ModerateMotor Vehicle Sales Total Vehicle Sales – Annual Rate
2024-07-01 22:00:00ModerateNZD – NZIER Business Confidence (Q2)
2024-07-01 19:00:00ModerateEUR – ECB President Lagarde Speaks
2024-07-01 16:00:00ModerateUSD – Atlanta Fed GDPNow (Q3)
2024-07-01 14:00:00ModerateConstruction Spending Month over Month
2024-07-01 14:00:00ModerateConstruction Spending Year over Year
2024-07-01 14:00:00HighISM Manufacturing Index Index
2024-07-01 14:00:00HighUSD – ISM Manufacturing Prices (Jun)
2024-07-01 14:00:00HighUSD – ISM Manufacturing PMI (Jun)
2024-07-01 14:00:00ModerateUSD – ISM Manufacturing Employment (Jun)
2024-07-01 14:00:00ModerateUSD – Construction Spending (MoM) (May)
2024-07-01 13:45:00ModeratePMI Manufacturing Final Index
2024-07-01 13:45:00HighUSD – S&P Global US Manufacturing PMI (Jun)
2024-07-01 12:15:00ModerateEUR – German Buba President Nagel Speaks
2024-07-01 12:00:00ModerateEUR – German CPI (YoY) (Jun)
2024-07-01 12:00:00HighEUR – German CPI (MoM) (Jun)
2024-07-01 09:00:00ModerateGBP – Nationwide HPI (YoY) (Jun)
2024-07-01 09:00:00ModerateGBP – Nationwide HPI (MoM) (Jun)
2024-07-01 09:00:00ModerateEUR – German Buba Balz Speaks
2024-07-01 08:30:00ModerateGBP – S&P Global/CIPS UK Manufacturing PMI (Jun)
2024-07-01 08:00:00ModerateEUR – HCOB Eurozone Manufacturing PMI (Jun)
2024-07-01 07:55:00ModerateEUR – HCOB Germany Manufacturing PMI (Jun)
2024-07-01 07:50:00ModerateEUR – HCOB France Manufacturing PMI (Jun)
2024-07-01 07:45:00ModerateEUR – HCOB Italy Manufacturing PMI (Jun)
2024-07-01 07:30:00ModerateCHF – procure.ch PMI (Jun)
2024-07-01 07:15:00ModerateEUR – HCOB Spain Manufacturing PMI (Jun)
2024-07-01 07:00:00ModerateEUR – European Central Bank Non-monetary Policy Meeting
2024-07-01 06:00:00ModerateGBP – Nationwide HPI (MoM) (Jun)
2024-07-01 06:00:00ModerateGBP – Nationwide HPI (YoY) (Jun)
2024-07-01 01:45:00ModerateCNY – Caixin Manufacturing PMI (Jun)
2024-07-01 01:30:00ModerateAUD – Retail Sales (MoM) (May)
2024-06-30 23:50:00ModerateJPY – Tankan Large Non-Manufacturers Index (Q2)
2024-06-30 23:50:00ModerateJPY – Tankan Large Manufacturers Index (Q2)
2024-06-30 23:50:00ModerateJPY – Tankan Big Manufacturing Outlook Index (Q2)
2024-06-30 23:50:00ModerateJPY – Tankan All Big Industry CAPEX (Q2)

Crypto Assets Prices

The Prices dataset presents the latest trends in cryptocurrency prices, showcasing the recovery in Bitcoin’s price, which surpassed $63,000. Additionally, the surge in altcoin prices, particularly Ethereum, is noteworthy. These positive price movements indicate a potential bullish sentiment in the market. Monitoring price variations and volatility across the cryptocurrency market helps identify emerging trends and investment opportunities.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-07-01 14:26:00Bitcoin62,792.271.84%1.960.94%3.621.73%
2024-06-30 14:26:00Bitcoin61,640.011.04%1.020.90%1.89-0.04%
2024-06-29 14:26:00Bitcoin61,000.69-0.30%0.121.00%1.93-0.04%
2024-07-01 14:26:00Ethereum3,459.201.78%1.941.66%3.922.36%
2024-06-30 14:26:00Ethereum3,397.510.40%0.281.13%1.56-0.07%
2024-06-29 14:26:00Ethereum3,384.06-1.53%-0.84-0.48%1.63-0.34%
2024-07-01 14:26:00Binance Coin577.300.26%0.16-0.58%2.120.27%
2024-06-30 14:26:00Binance Coin575.800.73%0.730.77%1.850.10%
2024-06-29 14:26:00Binance Coin571.60-0.40%-0.030.93%1.75-0.54%

CryptocurrencyΒ Capitalization and Volume

Analyzing the Market Capitalizations and Volumes dataset, Bitcoin stands as the dominant cryptocurrency with a market capitalization exceeding $1.2 trillion. Ethereum also demonstrates strength with a market capitalization over $400 billion. These figures reflect the significant interest and investment in these cryptocurrencies. Additionally, active trading volumes on major exchanges such as Binance, Coinbase, and Bitfinex further support the positive sentiment in the market.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-07-01 00:00:00Binance Coin89,479,656,6422.23%661,890,85064.05%
2024-06-30 00:00:00Binance Coin87,526,072,9930.38%403,478,442-44.23%
2024-06-29 00:00:00Binance Coin87,198,053,055-2.36%723,489,523-11.87%
2024-07-01 00:00:00Bitcoin1,236,676,710,8883.07%17,240,991,21143.07%
2024-06-30 00:00:00Bitcoin1,199,792,912,6810.86%12,050,763,337-50.59%
2024-06-29 00:00:00Bitcoin1,189,569,860,171-2.01%24,389,417,28229.35%
2024-07-01 00:00:00Ethereum412,683,392,9741.85%7,027,609,80828.17%
2024-06-30 00:00:00Ethereum405,186,539,488-0.10%5,482,986,771-49.98%
2024-06-29 00:00:00Ethereum405,590,219,265-2.01%10,962,237,386-0.99%
2024-07-01 00:00:00Tether112,725,742,5960.09%27,520,361,78843.82%
2024-06-30 00:00:00Tether112,627,263,2010.02%19,135,939,447-42.87%
2024-06-29 00:00:00Tether112,603,785,913-0.02%33,496,485,612-10.97%

Cryptocurrency Exchanges Volume and Variation

The Exchanges dataset provides insights into the trading activities across different cryptocurrency exchanges. Binance, Binance US, and Bitfinex have witnessed significant trading volumes, indicating active participation in the market. Monitoring trading volumes and variations among exchanges helps gain a comprehensive view of market sentiment, liquidity, and investor preferences.

DateExchangeVolumeVariation
2024-07-01 00:00:00Binance128,39336.70%
2024-06-30 00:00:00Binance93,925-53.94%
2024-06-29 00:00:00Binance203,9367.34%
2024-07-01 00:00:00Binance US8747.46%
2024-06-30 00:00:00Binance US59-50.83%
2024-06-29 00:00:00Binance US1207.14%
2024-07-01 00:00:00Bitfinex1,400-25.97%
2024-06-30 00:00:00Bitfinex1,891-19.80%
2024-06-29 00:00:00Bitfinex2,358-15.39%
2024-07-01 00:00:00Bybit37,80026.73%
2024-06-30 00:00:00Bybit29,828-56.11%
2024-06-29 00:00:00Bybit67,9668.70%
2024-07-01 00:00:00Coinbase20,764-11.56%
2024-06-30 00:00:00Coinbase23,477-44.01%
2024-06-29 00:00:00Coinbase41,934-3.10%
2024-07-01 00:00:00Crypto.com15,44349.89%
2024-06-30 00:00:00Crypto.com10,303-54.51%
2024-06-29 00:00:00Crypto.com22,65115.99%
2024-07-01 00:00:00Gate.io25,27820.69%
2024-06-30 00:00:00Gate.io20,945-47.06%
2024-06-29 00:00:00Gate.io39,56514.67%
2024-07-01 00:00:00Kraken4,60145.05%
2024-06-30 00:00:00Kraken3,172-70.82%
2024-06-29 00:00:00Kraken10,872-1.24%
2024-07-01 00:00:00KuCoin8,20442.85%
2024-06-30 00:00:00KuCoin5,743-41.84%
2024-06-29 00:00:00KuCoin9,8750.10%
2024-07-01 00:00:00OKX17,55535.97%
2024-06-30 00:00:00OKX12,911-54.62%
2024-06-29 00:00:00OKX28,4507.81%

Mining – Blockchain Technology

The Mining dataset sheds light on important factors related to the mining sector of cryptocurrencies. The stable mining difficulty and fluctuating hash rate impact the supply of newly mined coins and the network’s overall security. The reported shift of some mining companies to mine other cryptocurrencies due to rising operational costs presents a potential challenge for Bitcoin’s network and market dynamics. Monitoring these mining-related factors provides insights into the supply dynamics and competitive landscape of the cryptocurrency market.

Item2024-07-012024-06-302024-06-292024-06-282024-06-272024-06-262024-06-25
Difficulty83.68T83.68T83.68T83.68T83.68T83.68T83.68T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks850.16K850.04K849.88K849.75K849.62K849.50K849.37K
Blocks Variation0.01%0.02%0.02%0.02%0.01%0.01%0.02%
Reward BTC3.133.133.133.133.133.133.13
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB503.34B658.21B553.75B541.24B495.02B520.09B628.29B
Hash Rate GB Variation-23.53%18.86%2.31%9.34%-4.82%-17.22%-2.62%

Conclusion

In conclusion, the cryptocurrency market has shown a neutral to trending up trend in the past 24 hours. The recovery of Bitcoin and the surge in altcoin prices indicate a potential bullish sentiment. Market capitalizations remain strong, and trading volumes on notable exchanges support the positive sentiment. However, regulatory developments, economic events, and mining dynamics can impact market dynamics and sentiment. It is essential to monitor these factors closely to make informed investment decisions.

So What

The current state of the cryptocurrency market has implications for investors and industry participants. The positive trend in prices and market capitalizations presents opportunities for potential profits. However, it is crucial to remain vigilant and consider regulatory changes, economic indicators, and mining dynamics as they can significantly influence market sentiment and volatility. Staying informed about market trends and conducting thorough research helps navigate the cryptocurrency landscape and make informed decisions.

What next?

Looking ahead, the cryptocurrency market is poised for further growth and potential opportunities. Continued monitoring of regulatory developments, economic events, and mining dynamics will be crucial in assessing future market trends. It is important to stay informed about the latest news and data to make well-informed decisions. Additionally, ongoing market analysis and risk management practices are key to navigating the dynamic and evolving cryptocurrency market successfully.

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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