Crypto Market Analysis & Trend: Neutral/Trending Up
Over the past 24 hours, the cryptocurrency market has shown a neutral to slightly upward trend. Bitcoin, the leading cryptocurrency, has remained relatively stable, with a slight increase in price. Ethereum has also experienced a positive trend, showing signs of upward momentum. Other major cryptocurrencies, such as Binance Coin and Solana, have displayed positive sentiment with increased trading volumes and market capitalizations.
Evidence supporting this analysis includes the continued interest and investment in the market, as seen in the inflows into Bitcoin-focused ETFs. Additionally, the growth of NFT sales on the Polygon network and the introduction of stablecoins like EURC on Coinbase’s blockchain indicate a sustained level of activity and engagement within the crypto ecosystem.
Confidence in this analysis is reasonably high, as it is based on recent data and market trends. However, it is important to note that the cryptocurrency market is highly volatile and subject to sudden changes, so investors should exercise caution and perform their own research before making any investment decisions.
What is important
Key points to understand the current state of the cryptocurrency market include the stability of Bitcoin and Ethereum prices, the rising popularity of NFTs on the Polygon network, and the introduction of stablecoins like EURC on Coinbase’s blockchain. Additionally, the growing interest in Bitcoin-focused ETFs and the positive sentiment surrounding major cryptocurrencies indicate a favorable market environment. However, it is crucial to consider the inherent volatility and potential risks associated with cryptocurrency investments. Conducting thorough research and staying informed about market developments are essential for making well-informed decisions.
Top 5 – Latest Headlines & Cryptocurrency News
- Cboe Initiates Regulatory Process For Solana ETF, March 2025 Deadline Set By Filing– CBOE initiates regulatory process for Solana ETF.
- Polygon surpasses Bitcoin, Solana in daily NFT sales volume– Polygon surpasses Bitcoin and Solana in daily NFT sales volume.
- Circle debuts euro-pegged stablecoin EURC on Coinbase´s blockchain– Circle has launched a euro-pegged stablecoin called EURC on Coinbase´s blockchain.
- US Spot Bitcoin ETFs See Second Day of Inflows, Amassing $294.9 Million– US spot Bitcoin ETFs have seen a second day of inflows, amassing $294.9 million.
- Could Solana ETFs be arriving sooner than anticipated?– Solana ETFs could be arriving sooner than anticipated in the cryptocurrency market.
Factors Driving the Growth – Market Sentiment
The most frequently mentioned positive sentiment keywords in the news include Bitcoin, cryptocurrency market rally, Solana, Bitcoin ETF, Ethereum, and blockchain technology. These keywords reflect the overall positive market sentiment, highlighting the growth and potential of the cryptocurrency ecosystem. On the other hand, negative sentiment keywords such as Bitcoin, Huione guarantee, China, Germany, and price have been mentioned in some news articles. It is important to note that negative keywords are relative and can represent temporary concerns or challenges within the market.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 21 | bitcoin |
| 7 | cryptocurrency market |
| 6 | rally |
| 6 | solana |
| 5 | bitcoin etf |
| 5 | ethereum |
| 4 | blockchain technology |
| 4 | cryptocurrencies |
| 4 | memecoins |
| 4 | polygon |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 6 | bitcoin |
| 4 | huione guarantee |
| 3 | china |
| 3 | germany |
| 3 | price |
| 2 | bitcoin miners |
| 2 | bitcoin rise |
| 2 | cbdcs |
| 2 | crypto crash |
| 2 | cryptocurrency |
Crypto Investor Fear & Greed Index
Based on the ‘Fear and Greed Indicators’ table, the overall sentiment in the cryptocurrency market can be characterized as showing moments of greed. The fear and greed indicators indicate that the market has been swinging between greed and fear, with instances of higher greed levels. The indicators suggest that there is a level of optimism and positive sentiment among market participants, which aligns with the overall upward trend observed in the market.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-07-10 00:00:00 | 28pt | 1pt | Alternative.me |
| 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 |
| 2024-07-10 00:00:00 | 27pt | 0pt | Binance.com |
| 2024-07-10 00:00:00 | 28pt | 1pt | Binance.com |
| 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 |
| 2024-07-10 00:00:00 | 28pt | 1pt | BitDegree.org |
| 2024-07-09 00:00:00 | 27pt | -2pt | BitDegree.org |
| 2024-07-08 00:00:00 | 29pt | 0pt | BitDegree.org |
| 2024-07-10 08:00:00 | 40pt | 4pt | BtcTools.io |
| 2024-07-10 00:00:00 | 36pt | 0pt | BtcTools.io |
| 2024-07-09 16:00:00 | 36pt | 2pt | BtcTools.io |
| 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 | 0pt | BtcTools.io |
| 2024-07-10 00:00:00 | 28pt | 1pt | Coinstats.app |
| 2024-07-09 00:00:00 | 27pt | -1pt | Coinstats.app |
| 2024-07-08 00:00:00 | 28pt | 0pt | Coinstats.app |
| 2024-07-10 00:00:00 | 27pt | 0pt | LookIntoBitcoin.com |
| 2024-07-10 00:00:00 | 28pt | 1pt | LookIntoBitcoin.com |
| 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 |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table shows relatively stable numbers in terms of active addresses and wallet balances. The total number of addresses remains consistent, indicating a consistent level of activity and participation in the Bitcoin network. The addresses with zero balances have also remained relatively stable, suggesting that there has not been a significant change in dormant or unused addresses. These indicators reflect a balanced and steady state within the Bitcoin network.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-07-10 14:00:00 | 1,305,109,290 | 0.00% | Total Addresses | bitaps.com |
| 2024-07-10 14:00:00 | 1,252,593,004 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-07-10 14:00:00 | 682,254 | -1.70% | Bitcoin Active Addresses | btc.com |
| 2024-07-10 14:00:00 | 540,534 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-07-10 14:00:00 | 219,378 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-07-10 14:00:00 | 3,513,315 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-07-10 14:00:00 | 10,453,578 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-07-10 14:00:00 | 13,453,546 | 0.01% | Addresses with over 0.0001 | bitaps.com |
| 2024-07-10 14:00:00 | 11,754,639 | 0.01% | Addresses with over 0.001 | bitaps.com |
| 2024-07-10 14:00:00 | 8,025,588 | 0.01% | Addresses with over 0.01 | bitaps.com |
| 2024-07-10 14:00:00 | 3,545,142 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-07-10 14:00:00 | 857,624 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-07-10 14:00:00 | 137,107 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-07-10 14:00:00 | 13,772 | 0.03% | Addresses with over 100 | bitaps.com |
| 2024-07-10 14:00:00 | 1,957 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-07-10 14:00:00 | 102 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-07-10 14:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The ‘Economic Events’ table highlights several economic events that impact the cryptocurrency market. Notable events include the release of jobless claims data, CPI reports, and auctions of government securities. These events play a role in shaping market sentiment and may influence trading activities. Investors and traders should stay informed about these events to understand potential market movements and make informed decisions.
| Date | Impact | Event |
|---|---|---|
| 2024-07-11 18:00:00 | Moderate | Treasury Statement Balance |
| 2024-07-11 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-07-11 12:30:00 | High | Jobless Claims Initial Claims – Level |
| 2024-07-11 12:30:00 | High | CPI Ex-Food & Energy- M/M |
| 2024-07-11 12:30:00 | High | Jobless Claims Initial Claims – Change |
| 2024-07-11 12:30:00 | High | Jobless Claims 4-Week Moving Average |
| 2024-07-11 12:30:00 | High | CPI Ex-Food & Energy- Y/Y |
| 2024-07-11 12:30:00 | High | CPI CPI – M/M |
| 2024-07-11 12:30:00 | High | CPI CPI – Y/Y |
| 2024-07-10 23:01:00 | Moderate | GBP – RICS House Price Balance (Jun) |
| 2024-07-10 18:30:00 | Moderate | USD – FOMC Member Bowman Speaks |
| 2024-07-10 17:00:00 | High | USD – 10-Year Note Auction |
| 2024-07-10 16:00:00 | Moderate | RUB – CPI (YoY) (Jun) |
| 2024-07-10 16:00:00 | Moderate | RUB – CPI (MoM) (Jun) |
| 2024-07-10 16:00:00 | Moderate | USD – Atlanta Fed GDPNow (Q2) |
| 2024-07-10 15:30:00 | Moderate | GBP – BoE MPC Member Mann Speaks |
| 2024-07-10 14:30:00 | Moderate | USD – Cushing Crude Oil Inventories |
| 2024-07-10 14:30:00 | High | USD – Crude Oil Inventories |
| 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 |
| 2024-07-10 14:00:00 | Moderate | EUR – German Buba President Nagel Speaks |
| 2024-07-10 14:00:00 | High | USD – Fed Chair Powell Testifies |
| 2024-07-10 13:30:00 | Moderate | GBP – BoE MPC Member Pill Speaks |
| 2024-07-10 12:00:00 | Moderate | BRL – CPI (YoY) (Jun) |
| 2024-07-10 11:00:00 | Moderate | USD – OPEC Monthly Report |
| 2024-07-10 08:20:00 | Moderate | EUR – German Buba Mauderer Speaks |
| 2024-07-10 08:00:00 | Moderate | EUR – German Buba President Nagel Speaks |
| 2024-07-10 02:00:00 | Moderate | NZD – RBNZ Rate Statement |
| 2024-07-10 02:00:00 | High | NZD – RBNZ Interest Rate Decision |
| 2024-07-10 01:30:00 | Moderate | CNY – PPI (YoY) (Jun) |
| 2024-07-10 01:30:00 | Moderate | CNY – CPI (YoY) (Jun) |
| 2024-07-10 01:30:00 | Moderate | CNY – CPI (MoM) (Jun) |
| 2024-07-10 01:30:00 | Moderate | AUD – Building Approvals (MoM) (May) |
| 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 |
Crypto Assets Prices
According to the ‘Prices’ table, major cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin have shown a mix of positive and negative price variations over the past 24 hours. Bitcoin has experienced minor fluctuations but has remained relatively stable. Ethereum has displayed an upward trend, showing positive price variation. Binance Coin has also shown positive price variation, contributing to its overall market growth. These variations are reflective of the overall sentiment and activities in the cryptocurrency market.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-07-09 14:08:00 | Bitcoin | 57,196.01 | -0.07% | 1.80 | 0.98% | 4.46 | -2.86% |
| 2024-07-08 14:08:00 | Bitcoin | 57,238.01 | 0.65% | 0.82 | 1.16% | 7.33 | 4.27% |
| 2024-07-10 14:08:00 | Ethereum | 3,113.00 | 1.79% | 2.22 | -0.29% | 3.50 | -2.26% |
| 2024-07-09 14:08:00 | Ethereum | 3,057.40 | 0.53% | 2.51 | -0.14% | 5.76 | -3.95% |
| 2024-07-08 14:08:00 | Ethereum | 3,041.27 | 2.31% | 2.66 | 4.01% | 9.72 | 5.71% |
| 2024-07-09 14:08:00 | Binance Coin | 514.60 | 0.19% | 2.31 | -1.20% | 4.38 | -6.91% |
| 2024-07-08 14:08:00 | Binance Coin | 513.60 | 3.15% | 3.51 | 7.02% | 11.30 | 4.26% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table indicates that the total market capitalization and volume of major cryptocurrencies have exhibited a mix of positive and negative variations. Bitcoin’s market capitalization and volume have demonstrated slight growth, suggesting sustained interest in the digital asset. Ethereum has also shown positive capitalization and volume variations, indicating increased market participation. Binance Coin has experienced fluctuating capitalization and volume, potentially influenced by market dynamics and trading activities. These variations reflect the overall performance and liquidity of the cryptocurrency market.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-07-10 00:00:00 | Binance Coin | 79,558,013,405 | 1.33% | 741,956,565 | -42.02% |
| 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% |
| 2024-07-10 00:00:00 | Bitcoin | 1,144,794,688,187 | 2.43% | 28,431,798,563 | -31.68% |
| 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% |
| 2024-07-10 00:00:00 | Ethereum | 368,733,224,976 | 1.63% | 14,902,982,166 | -28.43% |
| 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% |
| 2024-07-10 00:00:00 | Tether | 112,264,962,394 | 0.08% | 41,841,228,112 | -25.22% |
| 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% |
Cryptocurrency Exchanges Volume and Variation
Based on the ‘Exchanges’ table, major exchanges such as Binance, Binance US, Bitfinex, Bybit, and Coinbase have shown varying levels of trading volume and fluctuations in the past 24 hours. These exchanges play a significant role in facilitating cryptocurrency trading and liquidity. It is important for traders and investors to closely monitor the volume and activities on these platforms, as they can provide insights into market trends and the sentiment of market participants.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-07-10 00:00:00 | Binance | 208,474 | -37.47% |
| 2024-07-09 00:00:00 | Binance | 333,396 | 89.77% |
| 2024-07-08 00:00:00 | Binance | 175,680 | 2.66% |
| 2024-07-10 00:00:00 | Binance US | 113 | -36.52% |
| 2024-07-09 00:00:00 | Binance US | 178 | 76.24% |
| 2024-07-08 00:00:00 | Binance US | 101 | -6.48% |
| 2024-07-10 00:00:00 | Bitfinex | 2,897 | -28.08% |
| 2024-07-09 00:00:00 | Bitfinex | 4,028 | 61.12% |
| 2024-07-08 00:00:00 | Bitfinex | 2,500 | -3.62% |
| 2024-07-10 00:00:00 | Bybit | 66,869 | -27.58% |
| 2024-07-09 00:00:00 | Bybit | 92,336 | 73.82% |
| 2024-07-08 00:00:00 | Bybit | 53,121 | 11.84% |
| 2024-07-10 00:00:00 | Coinbase | 32,050 | -38.27% |
| 2024-07-09 00:00:00 | Coinbase | 51,916 | 185.68% |
| 2024-07-08 00:00:00 | Coinbase | 18,173 | -24.58% |
| 2024-07-10 00:00:00 | Crypto.com | 32,726 | -28.46% |
| 2024-07-09 00:00:00 | Crypto.com | 45,745 | 75.65% |
| 2024-07-08 00:00:00 | Crypto.com | 26,043 | 14.07% |
| 2024-07-10 00:00:00 | Gate.io | 39,524 | -40.62% |
| 2024-07-09 00:00:00 | Gate.io | 66,561 | 92.52% |
| 2024-07-08 00:00:00 | Gate.io | 34,573 | -0.01% |
| 2024-07-10 00:00:00 | Kraken | 9,598 | -26.84% |
| 2024-07-09 00:00:00 | Kraken | 13,119 | 116.99% |
| 2024-07-08 00:00:00 | Kraken | 6,046 | 1.66% |
| 2024-07-10 00:00:00 | KuCoin | 9,899 | -28.64% |
| 2024-07-09 00:00:00 | KuCoin | 13,871 | 55.24% |
| 2024-07-08 00:00:00 | KuCoin | 8,935 | 3.26% |
| 2024-07-10 00:00:00 | OKX | 28,045 | -43.65% |
| 2024-07-09 00:00:00 | OKX | 49,770 | 75.33% |
| 2024-07-08 00:00:00 | OKX | 28,387 | 9.79% |
Mining – Blockchain Technology
The ‘Mining’ table provides insights into the mining sector of the cryptocurrency market. It shows that the mining difficulty, mined blocks, block rewards, and hash rate have remained relatively stable in the past 24 hours. These parameters are crucial for maintaining the security and efficiency of blockchain networks. The stable mining indicators suggest a consistent level of mining activity and computational power supporting the cryptocurrency ecosystem.
| Item | 2024-07-10 | 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 | 83.68T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 851.47K | 851.32K | 851.16K | 851.02K | 850.86K | 850.74K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.02% | 0.01% | 0.02% |
| Reward BTC | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 | 3.13 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 605.37B | 628.78B | 557.89B | 656.59B | 470.29B | 587.23B |
| Hash Rate GB Variation | -3.72% | 12.71% | -15.03% | 39.62% | -19.91% | -2.78% |
Conclusion
In conclusion, the cryptocurrency market has shown a neutral to slightly upward trend in the past 24 hours. Bitcoin and Ethereum, the market leaders, have demonstrated stability and positive price variations. The market is witnessing increased interest and activity, as reflected in the growth of NFT sales, the introduction of new stablecoins, and inflows into Bitcoin-focused ETFs. Additionally, the mining sector has remained steady and supports the overall security and efficiency of blockchain networks.
Considering the inherent volatility and risks associated with the cryptocurrency market, investors should exercise caution and conduct thorough research before making investment decisions.
So What
The current state of the cryptocurrency market has practical implications for investors and traders. Positive market trends and growing interest in cryptocurrencies can present opportunities for investment and trading strategies. However, it is crucial to remain vigilant and consider the risks involved. Keeping up with market developments and staying informed about regulatory changes and economic events is essential for making informed decisions and managing potential risks.
What next?
Looking ahead, it is important to monitor market trends and developments to anticipate potential shifts in sentiment and market dynamics. Factors such as regulatory decisions, economic indicators, and technological advancements can significantly impact the cryptocurrency market. Additionally, ongoing discussions around central bank digital currencies (CBDCs) and the integration of blockchain technology into traditional financial systems may shape the future landscape of cryptocurrencies. It is advisable to stay informed, diversify investments, and adapt to market conditions to navigate the 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.
