Crypto Market Analysis & Trend: Neutral/Trending Up
In the last 24 hours, the cryptocurrency market has shown a neutral to slightly upward trend. The market has been relatively stable, with some cryptocurrencies experiencing minor variations in price and volume. Despite the recent increase in thefts, with cryptocurrency thefts soaring to $1.38 billion in the first half of 2024, the market remains resilient and continues to attract positive news and developments.
One of the positive factors driving the market is the anticipation of a spot Ethereum ETF debut within two weeks. This development could potentially attract more investors and increase the demand for Ethereum. Additionally, the filing of a spot Ethereum ETF amendment by VanEck further strengthens the interest in Ethereum and indicates a potential growth in the market.
However, it is worth noting that renowned trader Peter Brandt recently criticized Ethereum, which may have a slight negative impact on investor sentiment. Despite this criticism, the positive news of ETF approvals by the SEC and the registration of an Ethereum ETF by Fidelity with CBOE indicate growing interest and potential market growth.
Overall, considering the relatively stable market conditions, positive developments such as ETF approvals, and the anticipation of a spot Ethereum ETF debut, the cryptocurrency market is expected to trend upward in the next 8 hours with cautious optimism.
What is important
Key points to understand the current state of the cryptocurrency market:
1. Cryptocurrency thefts have surged to $1.38 billion in the first half of 2024, highlighting the need for enhanced security measures.
2. The anticipation of a spot Ethereum ETF debut within two weeks is generating positive sentiment and increasing the demand for Ethereum.
3. Renowned trader Peter Brandt’s criticism of Ethereum may temporarily affect investor sentiment but is not expected to have a significant impact on the overall market.
4. ETF approvals by the SEC and the registration of an Ethereum ETF by Fidelity with CBOE reflect growing institutional interest in cryptocurrency investments.
5. The market remains resilient despite occasional turbulence, suggesting a long-term positive outlook for the cryptocurrency market.
Top 5 – Latest Headlines & Cryptocurrency News
- Bitcoin, Ethereum And Other Crypto-related Thefts Soar To $1.38B In First Half Of 2024, Almost Double Compared To Last Year: Report– Theft in the cryptocurrency market has surged to $1.38 billion in the first half of 2024.
- ETF Expert Anticipates Spot Ethereum ETF Debut Within 2 Weeks– An ETF expert anticipates the debut of a spot Ethereum ETF within two weeks.
- Legendary Trader Peter Brandt Slams Ethereum: Details– Legendary trader Peter Brandt criticizes Ethereum.
- ETFs on Ethereum Closer to Getting Approval by the SEC, Price Rebound Expected– ETFs on Ethereum are closer to getting approval by the SEC, leading to an expected price rebound.
- Breaking: VanEck Files Spot Ethereum ETF S-1 Amendment– VanEck has filed an amendment for a spot Ethereum ETF, signaling further interest in the cryptocurrency market.
Factors Driving the Growth – Market Sentiment
Positive sentiment keywords include ‘bitcoin’, ‘binance’, ‘ethereum’, ‘etf’, and ‘fidelity.’ These keywords indicate the growing interest and positive developments surrounding cryptocurrencies, particularly Bitcoin and Ethereum. On the other hand, negative sentiment keywords include ‘germany’, ‘crypto-related thefts’, ‘government’, and ‘sell-off.’ These keywords reflect concerns over cryptocurrency thefts, government actions, and market volatility. It is important to take into account both positive and negative sentiment keywords to gain a comprehensive understanding of the current cryptocurrency market environment.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 26 | bitcoin |
| 18 | binance |
| 15 | ethereum |
| 8 | cryptocurrency |
| 8 | solana |
| 7 | cryptocurrency market |
| 6 | cryptocurrencies |
| 6 | eth |
| 6 | investors |
| 6 | market |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 20 | bitcoin |
| 7 | ethereum |
| 5 | germany |
| 4 | cryptocurrency market |
| 4 | dogecoin |
| 4 | german government |
| 4 | memecoins |
| 4 | paxful |
| 4 | sell-off |
| 4 | xrp |
Crypto Investor Fear & Greed Index
The Fear and Greed Indicators for the cryptocurrency market suggest a mixture of fear and greed sentiment. While the market sentiment does not currently show extreme fear or greed, it is leaning slightly towards greed. This indicates that investors may be optimistic and willing to take risks. However, it is crucial to monitor these indicators closely as market sentiment can rapidly change and impact trading decisions. Overall, the market sentiment reflects cautious optimism and a moderate level of confidence.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-07-09 00:00:00 | 27pt | -1pt | Alternative.me |
| 2024-07-08 00:00:00 | 28pt | -1pt | Alternative.me |
| 2024-07-08 00:00:00 | 29pt | 0pt | Alternative.me |
| 2024-07-07 00:00:00 | 26pt | 0pt | Alternative.me |
| 2024-07-07 00:00:00 | 29pt | 3pt | Alternative.me |
| 2024-07-09 00:00:00 | 27pt | -1pt | Binance.com |
| 2024-07-08 00:00:00 | 28pt | -1pt | Binance.com |
| 2024-07-08 00:00:00 | 29pt | 0pt | Binance.com |
| 2024-07-07 00:00:00 | 26pt | 0pt | Binance.com |
| 2024-07-07 00:00:00 | 29pt | 3pt | Binance.com |
| 2024-07-09 00:00:00 | 27pt | -2pt | BitDegree.org |
| 2024-07-08 00:00:00 | 29pt | 3pt | BitDegree.org |
| 2024-07-07 00:00:00 | 26pt | 0pt | BitDegree.org |
| 2024-07-09 08:00:00 | 34pt | 1pt | BtcTools.io |
| 2024-07-09 00:00:00 | 33pt | 3pt | BtcTools.io |
| 2024-07-08 16:00:00 | 30pt | 1pt | BtcTools.io |
| 2024-07-08 00:00:00 | 29pt | -1pt | BtcTools.io |
| 2024-07-07 00:00:00 | 30pt | 2pt | BtcTools.io |
| 2024-07-06 16:00:00 | 28pt | 0pt | BtcTools.io |
| 2024-07-09 00:00:00 | 27pt | -1pt | Coinstats.app |
| 2024-07-08 00:00:00 | 28pt | -1pt | Coinstats.app |
| 2024-07-07 00:00:00 | 29pt | 0pt | Coinstats.app |
| 2024-07-09 09:00:00 | 27pt | -2pt | LookIntoBitcoin.com |
| 2024-07-09 00:00:00 | 29pt | 0pt | LookIntoBitcoin.com |
| 2024-07-08 00:00:00 | 29pt | 0pt | LookIntoBitcoin.com |
| 2024-07-07 00:00:00 | 26pt | 0pt | LookIntoBitcoin.com |
| 2024-07-07 00:00:00 | 29pt | 3pt | LookIntoBitcoin.com |
Bitcoin: Active Addresses
Bitcoin Address Indicators show an increase in the total number of addresses with balances over different thresholds, indicating growing participation and engagement within the Bitcoin network. The number of active Bitcoin addresses has also seen a slight decrease, suggesting a potential consolidation phase or a shift in user behavior. However, considering the overall trend, the Bitcoin network continues to gather strength and maintain its position as a leading cryptocurrency.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-07-09 09:00:00 | 1,304,787,908 | 0.01% | Total Addresses | bitaps.com |
| 2024-07-09 09:00:00 | 1,252,236,513 | 0.01% | Zero Balance Addresses | bitaps.com |
| 2024-07-09 09:00:00 | 785,057 | -1.35% | Bitcoin Active Addresses | btc.com |
| 2024-07-09 09:00:00 | 540,535 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-07-09 09:00:00 | 219,378 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-07-09 09:00:00 | 3,506,416 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-07-09 09:00:00 | 10,452,880 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-07-09 09:00:00 | 13,465,039 | -0.15% | Addresses with over 0.0001 | bitaps.com |
| 2024-07-09 09:00:00 | 11,791,631 | -0.05% | Addresses with over 0.001 | bitaps.com |
| 2024-07-09 09:00:00 | 8,021,767 | 0.01% | Addresses with over 0.01 | bitaps.com |
| 2024-07-09 09:00:00 | 3,543,440 | 0.02% | Addresses with over 0.1 | bitaps.com |
| 2024-07-09 09:00:00 | 857,437 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-07-09 09:00:00 | 137,054 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-07-09 09:00:00 | 13,758 | 0.05% | Addresses with over 100 | bitaps.com |
| 2024-07-09 09:00:00 | 1,954 | 0.05% | Addresses with over 1,000 | bitaps.com |
| 2024-07-09 09:00:00 | 102 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-07-09 09:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
Economic events in the global financial market present both positive and negative impacts on the cryptocurrency market. Of note, the increase in cryptocurrency thefts highlights the ongoing security challenges in the market. On the positive side, the anticipation of spot Ethereum ETF debuts, as well as the filing of ETF amendments, indicates growing interest from institutional investors and potential market growth. It is essential to closely monitor economic events as they can significantly influence the cryptocurrency market’s dynamics.
| Date | Impact | Event |
|---|---|---|
| 2024-07-10 14:30:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 2024-07-10 14:30:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 2024-07-10 14:30:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 2024-07-09 20:30:00 | Moderate | USD – API Weekly Crude Oil Stock |
| 2024-07-09 17:30:00 | Moderate | USD – FOMC Member Bowman Speaks |
| 2024-07-09 17:00:00 | Moderate | USD – 3-Year Note Auction |
| 2024-07-09 16:00:00 | Moderate | USD – EIA Short-Term Energy Outlook |
| 2024-07-09 14:00:00 | Moderate | USD – Treasury Secretary Yellen Speaks |
| 2024-07-09 14:00:00 | High | USD – Fed Chair Powell Testifies |
| 2024-07-09 13:15:00 | Moderate | USD – Fed Vice Chair for Supervision Barr Speaks |
| 2024-07-09 10:00:00 | Moderate | EUR – Eurogroup Meetings |
| 2024-07-09 08:20:00 | Moderate | EUR – German Buba Mauderer Speaks |
| 2024-07-09 01:30:00 | Moderate | AUD – NAB Business Confidence (Jun) |
| 2024-07-08 23:01:00 | Moderate | GBP – BRC Retail Sales Monitor (YoY) (Jun) |
| 2024-07-08 19:30:00 | Moderate | EUR – CFTC EUR speculative net positions |
| 2024-07-08 19:30:00 | Moderate | JPY – CFTC JPY speculative net positions |
| 2024-07-08 19:30:00 | Moderate | BRL – CFTC BRL speculative net positions |
| 2024-07-08 19:30:00 | Moderate | AUD – CFTC AUD speculative net positions |
| 2024-07-08 19:30:00 | Moderate | USD – CFTC S&P 500 speculative net positions |
| 2024-07-08 19:30:00 | Moderate | USD – CFTC Nasdaq 100 speculative net positions |
| 2024-07-08 19:30:00 | Moderate | USD – CFTC Gold speculative net positions |
| 2024-07-08 19:30:00 | Moderate | USD – CFTC Crude Oil speculative net positions |
| 2024-07-08 19:30:00 | Moderate | GBP – CFTC GBP speculative net positions |
| 2024-07-08 19:00:00 | Moderate | USD – Consumer Credit (May) |
| 2024-07-08 16:15:00 | Moderate | GBP – MPC Member Haskel Speaks |
| 2024-07-08 15:00:00 | Moderate | USD – NY Fed 1-Year Consumer Inflation Expectations |
Crypto Assets Prices
The Prices table reflects relatively stable prices for major cryptocurrencies like Bitcoin and Ethereum over the past 24 hours. While there have been slight variations in price and volatility, the market has generally maintained a steady trend. Bitcoin has seen a positive 24-hour variation and remains one of the key catalysts for market movements. Ethereum has also shown positive momentum, potentially fueled by the anticipation of ETF approvals and spot ETF debuts. Overall, the price trends suggest a cautious and stable market environment.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-07-09 14:23:00 | Bitcoin | 57,715.83 | 1.42% | 2.72 | 2.50% | 4.88 | -2.45% |
| 2024-07-08 14:23:00 | Bitcoin | 56,896.02 | 0.49% | 0.22 | 0.99% | 7.33 | 4.01% |
| 2024-07-07 14:23:00 | Bitcoin | 56,619.99 | -0.27% | -0.77 | -2.59% | 3.32 | 0.38% |
| 2024-07-08 14:23:00 | Ethereum | 3,020.75 | 2.07% | 1.96 | 3.75% | 9.72 | 5.46% |
| 2024-07-07 14:23:00 | Ethereum | 2,958.13 | -1.34% | -1.79 | -3.20% | 4.25 | 1.64% |
| 2024-07-08 14:23:00 | Binance Coin | 510.50 | 3.04% | 2.88 | 6.86% | 11.30 | 3.89% |
| 2024-07-07 14:23:00 | Binance Coin | 495.00 | -3.33% | -3.98 | -8.24% | 7.41 | 2.20% |
Cryptocurrency Capitalization and Volume
The Market Capitalizations and Volumes table indicates consistent market capitalization figures for major cryptocurrencies such as Bitcoin, Ethereum, and Tether. Despite minor variations, the market capitalizations have remained relatively stable, showcasing the resilience and maturity of the cryptocurrency market. The trading volumes for these cryptocurrencies have also experienced moderate changes, indicating continued investor participation and trading activity. The absence of extreme fluctuations points towards a relatively balanced market condition.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-07-09 00:00:00 | Binance Coin | 78,514,420,114 | 4.29% | 1,279,639,524 | 45.29% |
| 2024-07-08 00:00:00 | Binance Coin | 75,281,277,003 | -7.28% | 880,758,053 | 13.80% |
| 2024-07-07 00:00:00 | Binance Coin | 81,193,238,739 | 5.84% | 773,972,262 | -69.86% |
| 2024-07-09 00:00:00 | Bitcoin | 1,117,615,464,652 | 1.56% | 41,614,266,908 | 103.97% |
| 2024-07-08 00:00:00 | Bitcoin | 1,100,452,083,928 | -4.07% | 20,402,366,811 | -4.35% |
| 2024-07-07 00:00:00 | Bitcoin | 1,147,176,330,416 | 2.56% | 21,329,167,475 | -64.37% |
| 2024-07-09 00:00:00 | Ethereum | 362,836,336,467 | 3.38% | 20,822,730,077 | 104.97% |
| 2024-07-08 00:00:00 | Ethereum | 350,977,454,883 | -4.70% | 10,158,788,517 | 2.03% |
| 2024-07-07 00:00:00 | Ethereum | 368,279,414,919 | 2.62% | 9,956,354,283 | -68.58% |
| 2024-07-09 00:00:00 | Tether | 112,172,989,930 | 0.04% | 55,950,042,632 | 72.82% |
| 2024-07-08 00:00:00 | Tether | 112,126,783,690 | -0.06% | 32,374,283,071 | -10.03% |
| 2024-07-07 00:00:00 | Tether | 112,196,036,454 | -0.12% | 35,981,770,146 | -55.54% |
Cryptocurrency Exchanges Volume and Variation
The Exchanges table provides insights into the trading volumes of major cryptocurrency exchanges, including Binance, Binance US, Bitfinex, Bybit, Coinbase, Crypto.com, Gate.io, Kraken, KuCoin, and OKX. The data suggests varying levels of trading activities among these exchanges, with Binance consistently leading in terms of volume. The positive trend in trading volumes across several exchanges reflects ongoing market interest and liquidity. It is important to note that different exchanges may have specific factors influencing their trading volumes, such as user preferences, available trading pairs, and geographical reach.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-07-09 00:00:00 | Binance | 333,396 | 89.77% |
| 2024-07-08 00:00:00 | Binance | 175,680 | 2.66% |
| 2024-07-07 00:00:00 | Binance | 171,135 | -64.13% |
| 2024-07-09 00:00:00 | Binance US | 178 | 76.24% |
| 2024-07-08 00:00:00 | Binance US | 101 | -6.48% |
| 2024-07-07 00:00:00 | Binance US | 108 | -55.74% |
| 2024-07-09 00:00:00 | Bitfinex | 4,028 | 61.12% |
| 2024-07-08 00:00:00 | Bitfinex | 2,500 | -3.62% |
| 2024-07-07 00:00:00 | Bitfinex | 2,594 | -63.34% |
| 2024-07-09 00:00:00 | Bybit | 92,336 | 73.82% |
| 2024-07-08 00:00:00 | Bybit | 53,121 | 11.84% |
| 2024-07-07 00:00:00 | Bybit | 47,497 | -60.54% |
| 2024-07-09 00:00:00 | Coinbase | 51,916 | 185.68% |
| 2024-07-08 00:00:00 | Coinbase | 18,173 | -24.58% |
| 2024-07-07 00:00:00 | Coinbase | 24,096 | -66.39% |
| 2024-07-09 00:00:00 | Crypto.com | 45,745 | 75.65% |
| 2024-07-08 00:00:00 | Crypto.com | 26,043 | 14.07% |
| 2024-07-07 00:00:00 | Crypto.com | 22,831 | -52.05% |
| 2024-07-09 00:00:00 | Gate.io | 66,561 | 92.52% |
| 2024-07-08 00:00:00 | Gate.io | 34,573 | -0.01% |
| 2024-07-07 00:00:00 | Gate.io | 34,578 | -62.53% |
| 2024-07-09 00:00:00 | Kraken | 13,119 | 116.99% |
| 2024-07-08 00:00:00 | Kraken | 6,046 | 1.66% |
| 2024-07-07 00:00:00 | Kraken | 5,947 | -72.08% |
| 2024-07-09 00:00:00 | KuCoin | 13,871 | 55.24% |
| 2024-07-08 00:00:00 | KuCoin | 8,935 | 3.26% |
| 2024-07-07 00:00:00 | KuCoin | 8,653 | -58.68% |
| 2024-07-09 00:00:00 | OKX | 49,770 | 75.33% |
| 2024-07-08 00:00:00 | OKX | 28,387 | 9.79% |
| 2024-07-07 00:00:00 | OKX | 25,855 | -68.47% |
Mining – Blockchain Technology
The Mining table showcases important metrics related to the computational mining capacity in the cryptocurrency market. Mining difficulty remains relatively stable, indicating a consistent level of computational power dedicated to mining. The number of blocks mined and block rewards have also seen minor variations. The hash rate, representing the overall mining capacity, demonstrates some fluctuations but has shown a positive trend overall. These factors reflect the ongoing mining operations and the overall health of the cryptocurrency networks.
| Item | 2024-07-09 | 2024-07-08 | 2024-07-07 | 2024-07-06 | 2024-07-05 |
|---|---|---|---|---|---|
| Difficulty | 83.68T | 83.68T | 83.68T | 83.68T | 83.68T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 851.32K | 851.16K | 851.02K | 850.86K | 850.74K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.01% | 0.02% |
| Reward BTC | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 628.78B | 557.89B | 656.59B | 470.29B | 587.23B |
| Hash Rate GB Variation | 12.71% | -15.03% | 39.62% | -19.91% | -2.78% |
Conclusion
In conclusion, the cryptocurrency market has demonstrated stability and cautious optimism in the last 24 hours. Positive developments surrounding Ethereum ETFs, increased institutional interest, and growing market capitalizations contribute to the positive sentiment. Despite concerns over cryptocurrency thefts and occasional market turbulence, the market has shown resilience and maintained a steady trend. It is important to monitor future developments closely, especially regarding ETF approvals and spot Ethereum ETF debuts, as they can significantly impact market dynamics.
So What
The current state of the cryptocurrency market highlights the importance of security measures and investor diligence. With cryptocurrency thefts on the rise, users must ensure the safety of their holdings and employ best practices for secure storage and transactions. Additionally, the anticipation of ETF approvals and spot Ethereum ETF debuts showcases the increasing mainstream adoption and potential growth of cryptocurrencies. Investors should closely follow regulatory developments and institutional interest as they can significantly influence market sentiment and investment opportunities.
What next?
Looking ahead, the cryptocurrency market is expected to maintain its positive trajectory in the near future. The ongoing interest in ETFs and the potential debut of spot Ethereum ETFs indicate growing confidence from institutional investors. Regulatory developments, market trends, and technological advancements will continue to shape the market dynamics. It is crucial for investors to stay informed and adapt to these changes, considering both the opportunities and risks associated with the evolving cryptocurrency landscape.
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.
