Crypto Market Analysis & Trend: Neutral/Trending Up
In the past 24 hours, the cryptocurrency market has shown signs of a neutral to slightly upward trend. Bitcoin has remained stable, with a minor price variation of -1.48%. This indicates a strong support level and a potential bullish signal. With Bitcoin close to flashing a bullish signal that previously foreshadowed over a 270% rally, there is growing confidence in an upward movement.
Furthermore, Polygon has surpassed Bitcoin and Solana in daily NFT sales volume, showcasing the growing popularity of non-fungible tokens.
Ethereum has shown resilience, with a marginal price change of 0.63%. The staking frenzy in Ethereum continues, with 33.9% of ETH now staked, indicating a positive sentiment and confidence in the platform.
Overall, while there might be slight variations in prices, the market sentiment remains positive, driven by key factors such as increasing adoption, institutional interest, and technological advancements.
What is important
Key Points:
1. Bitcoin is close to flashing a bullish signal that previously foreshadowed over a 270% rally.
2. Polygon has surpassed Bitcoin and Solana in daily NFT sales volume.
3. Ethereum’s staking frenzy continues, with 33.9% of ETH now staked.
4. Positive market sentiment driven by increasing adoption, institutional interest, and technological advancements.
Top 5 – Latest Headlines & Cryptocurrency News
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Bitcoin Close to Flashing Bullish Signal That Previously Foreshadowed Over 270% Rally for BTC: Santiment– Bitcoin is close to flashing a bullish signal that previously foreshadowed over a 270% rally for BTC.
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Polygon surpasses Bitcoin, Solana in daily NFT sales volume– Polygon surpasses Bitcoin and Solana in daily NFT sales volume.
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Top Crypto Analyst Predicts Swift Ethereum Recovery, Says Big Run Coming for ETH– Top crypto analyst predicts swift Ethereum recovery, says big run coming for ETH.
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Bitcoin Extends Gains As US ETF Inflows Battle German Govt Selling Overhang– Bitcoin gains as US ETF inflows battle German government selling overhang.
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Bitcoin miners in crisis – Will BTC prices fall further?– Bitcoin miners face a crisis, potentially leading to further price falls for BTC.
Factors Driving the Growth – Market Sentiment
Positive Keywords: Bitcoin, crypto, cryptocurrency market, rally, Ethereum, Shiba Inu, cryptocurrencies, Goldman Sachs.
Negative Keywords: BitMEX, Bank Secrecy Act, hacked, Huione Guarantee, Malaysia, $60k, Bitcoin miners, Bitcoin price, CBDs.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 25 | bitcoin |
| 10 | crypto |
| 7 | cryptocurrency market |
| 7 | rally |
| 6 | ethereum |
| 6 | shiba inu |
| 5 | cryptocurrencies |
| 5 | goldman sachs |
| 4 | trump |
| 3 | bitcoin miners |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 4 | bitmex |
| 3 | bank secrecy act |
| 3 | bitcoin |
| 3 | hacked |
| 3 | huione guarantee |
| 3 | malaysia |
| 2 | $60k |
| 2 | bitcoin miners |
| 2 | bitcoin price |
| 2 | cbdcs |
Crypto Investor Fear & Greed Index
Fear and Greed Indicators: The Fear and Greed Index remains neutral, indicating a balanced market sentiment. It is crucial to monitor any significant shifts in sentiment which could impact market dynamics.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-07-11 00:00:00 | 29pt | 1pt | Alternative.me |
| 2024-07-10 00:00:00 | 28pt | 1pt | Alternative.me |
| 2024-07-09 00:00:00 | 27pt | 0pt | Alternative.me |
| 2024-07-11 00:00:00 | 28pt | 0pt | Binance.com |
| 2024-07-11 00:00:00 | 29pt | 1pt | Binance.com |
| 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 | 0pt | Binance.com |
| 2024-07-11 00:00:00 | 29pt | 1pt | BitDegree.org |
| 2024-07-10 00:00:00 | 28pt | 1pt | BitDegree.org |
| 2024-07-09 00:00:00 | 27pt | 0pt | BitDegree.org |
| 2024-07-11 00:00:00 | 38pt | 0pt | BtcTools.io |
| 2024-07-10 16:00:00 | 38pt | -2pt | BtcTools.io |
| 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 | 0pt | BtcTools.io |
| 2024-07-11 00:00:00 | 29pt | 1pt | Coinstats.app |
| 2024-07-10 00:00:00 | 28pt | 1pt | Coinstats.app |
| 2024-07-09 00:00:00 | 27pt | 0pt | Coinstats.app |
| 2024-07-11 00:00:00 | 28pt | 0pt | LookIntoBitcoin.com |
| 2024-07-11 00:00:00 | 29pt | 1pt | LookIntoBitcoin.com |
| 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 |
Bitcoin: Active Addresses
Bitcoin Address Indicators: The total number of Bitcoin addresses continues to rise, indicating growing interest and adoption. Notably, the number of active addresses has seen a slight decrease, which could potentially indicate a consolidation phase.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-07-10 15:00:00 | 1,305,120,373 | 0.00% | Total Addresses | bitaps.com |
| 2024-07-10 15:00:00 | 664,459 | -2.68% | Bitcoin Active Addresses | btc.com |
| 2024-07-10 15:00:00 | 540,534 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-07-10 15:00:00 | 219,378 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-07-10 15:00:00 | 3,513,344 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-07-10 15:00:00 | 10,453,702 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-07-10 15:00:00 | 13,455,511 | 0.01% | Addresses with over 0.0001 | bitaps.com |
| 2024-07-10 15:00:00 | 11,756,452 | 0.02% | Addresses with over 0.001 | bitaps.com |
| 2024-07-10 15:00:00 | 8,026,544 | 0.01% | Addresses with over 0.01 | bitaps.com |
| 2024-07-10 15:00:00 | 3,545,350 | 0.01% | Addresses with over 0.1 | bitaps.com |
| 2024-07-10 15:00:00 | 857,648 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-07-10 15:00:00 | 137,126 | 0.01% | Addresses with over 10 | bitaps.com |
| 2024-07-10 15:00:00 | 13,762 | -0.07% | Addresses with over 100 | bitaps.com |
| 2024-07-10 15:00:00 | 1,960 | 0.15% | Addresses with over 1,000 | bitaps.com |
| 2024-07-10 15:00:00 | 102 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-07-10 15:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
Economic Events: Several important economic events are taking place, including the release of consumer sentiment and inflation expectations. These events may influence market sentiment and trading activity.
| Date | Impact | Event |
|---|---|---|
| 2024-07-12 14:00:00 | Moderate | Consumer Sentiment Year-ahead Inflation Expectations |
| 2024-07-12 14:00:00 | Moderate | Consumer Sentiment Index |
| 2024-07-12 12:30:00 | High | PPI-Final Demand Ex-Food, Energy & Trade Services – M/M |
| 2024-07-12 12:30:00 | High | PPI-Final Demand Ex-Food, Energy & Trade Services – Y/Y |
| 2024-07-12 12:30:00 | High | PPI-Final Demand Ex-Food & Energy – Y/Y |
| 2024-07-12 12:30:00 | High | PPI-Final Demand PPI-FD – M/M |
| 2024-07-12 12:30:00 | High | PPI-Final Demand PPI-FD – Y/Y |
| 2024-07-12 12:30:00 | High | PPI-Final Demand Ex-Food & Energy – M/M |
| 2024-07-11 23:01:00 | Moderate | GBP – RICS House Price Balance (Jun) |
| 2024-07-11 22:45:00 | Moderate | NZD – Electronic Card Retail Sales (MoM) (Jun) |
| 2024-07-11 22:30:00 | Moderate | NZD – Business NZ PMI (Jun) |
| 2024-07-11 20:30:00 | Moderate | USD – Fed´s Balance Sheet |
| 2024-07-11 18:00:00 | Moderate | USD – Federal Budget Balance (Jun) |
| 2024-07-11 18:00:00 | Moderate | Treasury Statement Balance |
| 2024-07-11 17:00:00 | High | USD – 30-Year Bond Auction |
| 2024-07-11 15:30:00 | Moderate | USD – FOMC Member Bostic Speaks |
| 2024-07-11 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-07-11 12:30:00 | High | USD – Initial Jobless Claims |
| 2024-07-11 12:30:00 | High | USD – CPI (YoY) (Jun) |
| 2024-07-11 12:30:00 | High | USD – CPI (MoM) (Jun) |
| 2024-07-11 12:30:00 | Moderate | USD – Core CPI (YoY) (Jun) |
| 2024-07-11 12:30:00 | High | USD – Core CPI (MoM) (Jun) |
| 2024-07-11 12:30:00 | Moderate | USD – Continuing Jobless Claims |
| 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 |
| 2024-07-11 12:00:00 | Moderate | BRL – Retail Sales (MoM) (May) |
| 2024-07-11 12:00:00 | Moderate | BRL – Retail Sales (YoY) (May) |
| 2024-07-11 12:00:00 | Moderate | GBP – NIESR Monthly GDP Tracker |
| 2024-07-11 10:00:00 | Moderate | EUR – Eurogroup Meetings |
| 2024-07-11 09:00:00 | Moderate | USD – IEA Monthly Report |
| 2024-07-11 08:30:00 | Moderate | GBP – BOE Credit Conditions Survey |
| 2024-07-11 08:00:00 | Moderate | CNY – New Loans |
| 2024-07-11 06:00:00 | Moderate | EUR – German CPI (YoY) (Jun) |
| 2024-07-11 06:00:00 | High | EUR – German CPI (MoM) (Jun) |
| 2024-07-11 06:00:00 | Moderate | GBP – Trade Balance Non-EU (May) |
| 2024-07-11 06:00:00 | Moderate | GBP – Trade Balance (May) |
| 2024-07-11 06:00:00 | Moderate | GBP – Monthly GDP 3M/3M Change (May) |
| 2024-07-11 06:00:00 | Moderate | GBP – Manufacturing Production (MoM) (May) |
| 2024-07-11 06:00:00 | Moderate | GBP – Industrial Production (MoM) (May) |
| 2024-07-11 06:00:00 | High | GBP – GDP (MoM) (May) |
| 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 |
Crypto Assets Prices
Prices: Bitcoin has shown stability with a minor price variation of -1.48%. Ethereum and Binance Coin have also experienced slight price changes. It is important to monitor any significant price movements as they can impact market sentiment.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-07-11 07:49:00 | Bitcoin | 58,069.33 | -1.48% | -1.54 | -4.71% | 3.48 | -1.04% |
| 2024-07-10 07:49:00 | Bitcoin | 58,929.50 | 2.94% | 3.17 | 0.77% | 4.51 | -1.76% |
| 2024-07-09 07:49:00 | Bitcoin | 57,196.00 | 2.44% | 2.41 | 5.14% | 6.27 | -0.46% |
| 2024-07-11 07:49:00 | Ethereum | 3,114.13 | 0.63% | 0.55 | -0.51% | 3.17 | -0.33% |
| 2024-07-10 07:49:00 | Ethereum | 3,094.41 | 1.00% | 1.06 | -3.61% | 3.50 | -3.66% |
| 2024-07-09 07:49:00 | Ethereum | 3,063.60 | 4.54% | 4.67 | 7.32% | 7.16 | -0.25% |
| 2024-07-11 07:49:00 | Binance Coin | 526.80 | 0.84% | 0.84 | -1.09% | 1.96 | -0.97% |
| 2024-07-10 07:49:00 | Binance Coin | 522.40 | 1.80% | 1.93 | -0.32% | 2.93 | -3.85% |
| 2024-07-09 07:49:00 | Binance Coin | 513.00 | 2.24% | 2.25 | 3.73% | 6.78 | -2.11% |
Cryptocurrency Capitalization and Volume
Market Capitalizations and Volumes: The total market capitalization of cryptocurrencies remains strong, with Bitcoin leading the pack. The volume of major cryptocurrencies is also significant, indicating active trading and market liquidity.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-07-11 00:00:00 | Binance Coin | 80,718,169,617 | 1.46% | 793,098,744 | 6.89% |
| 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% |
| 2024-07-11 00:00:00 | Bitcoin | 1,139,350,681,823 | -0.48% | 26,753,644,692 | -5.90% |
| 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% |
| 2024-07-11 00:00:00 | Ethereum | 372,867,773,189 | 1.12% | 14,236,087,224 | -4.47% |
| 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% |
| 2024-07-11 00:00:00 | Tether | 112,278,208,909 | 0.01% | 42,052,904,861 | 0.51% |
| 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% |
Cryptocurrency Exchanges Volume and Variation
Exchanges: Binance, Binance US, and Coinbase have observed varying trading volumes, reflecting the dynamism in the cryptocurrency market. Traders should closely monitor these exchanges for potential trading opportunities.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-07-11 00:00:00 | Binance | 189,463 | -9.12% |
| 2024-07-10 00:00:00 | Binance | 208,474 | -37.47% |
| 2024-07-09 00:00:00 | Binance | 333,396 | 89.77% |
| 2024-07-11 00:00:00 | Binance US | 122 | 7.96% |
| 2024-07-10 00:00:00 | Binance US | 113 | -36.52% |
| 2024-07-09 00:00:00 | Binance US | 178 | 76.24% |
| 2024-07-11 00:00:00 | Bitfinex | 2,116 | -26.96% |
| 2024-07-10 00:00:00 | Bitfinex | 2,897 | -28.08% |
| 2024-07-09 00:00:00 | Bitfinex | 4,028 | 61.12% |
| 2024-07-11 00:00:00 | Bybit | 67,668 | 1.19% |
| 2024-07-10 00:00:00 | Bybit | 66,869 | -27.58% |
| 2024-07-09 00:00:00 | Bybit | 92,336 | 73.82% |
| 2024-07-11 00:00:00 | Coinbase | 29,888 | -6.75% |
| 2024-07-10 00:00:00 | Coinbase | 32,050 | -38.27% |
| 2024-07-09 00:00:00 | Coinbase | 51,916 | 185.68% |
| 2024-07-11 00:00:00 | Crypto.com | 33,367 | 1.96% |
| 2024-07-10 00:00:00 | Crypto.com | 32,726 | -28.46% |
| 2024-07-09 00:00:00 | Crypto.com | 45,745 | 75.65% |
| 2024-07-11 00:00:00 | Gate.io | 35,745 | -9.56% |
| 2024-07-10 00:00:00 | Gate.io | 39,524 | -40.62% |
| 2024-07-09 00:00:00 | Gate.io | 66,561 | 92.52% |
| 2024-07-11 00:00:00 | Kraken | 9,897 | 3.12% |
| 2024-07-10 00:00:00 | Kraken | 9,598 | -26.84% |
| 2024-07-09 00:00:00 | Kraken | 13,119 | 116.99% |
| 2024-07-11 00:00:00 | KuCoin | 9,321 | -5.84% |
| 2024-07-10 00:00:00 | KuCoin | 9,899 | -28.64% |
| 2024-07-09 00:00:00 | KuCoin | 13,871 | 55.24% |
| 2024-07-11 00:00:00 | OKX | 29,142 | 3.91% |
| 2024-07-10 00:00:00 | OKX | 28,045 | -43.65% |
| 2024-07-09 00:00:00 | OKX | 49,770 | 75.33% |
Mining – Blockchain Technology
Mining: Bitcoin mining difficulty remains consistently high, indicating robust network security and computational power. The number of mined blocks and block rewards are steady. These mining indicators demonstrate the continued interest and participation of miners in securing the Bitcoin network.
| Item | 2024-07-11 | 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 | 83,68T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 851,61K | 851,47K | 851,32K | 851,16K | 851,02K | 850,86K | 850,74K |
| Blocks Variation | 0.02% | 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 | 3.13 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 537,68B | 605,37B | 628,78B | 557,89B | 656,59B | 470,29B | 587,23B |
| Hash Rate GB Variation | -11.18% | -3.72% | 12.71% | -15.03% | 39.62% | -19.91% | -2.78% |
Conclusion
In conclusion, the cryptocurrency market has shown indications of a neutral to slightly upward trend. Bitcoin’s stability, the rise of NFT sales on Polygon, and Ethereum’s staking frenzy contribute to the positive sentiment. While slight variations in prices can occur, the overall market shows resilience and promise.
So What
These trends are significant as they highlight the continued growth and adoption of cryptocurrencies. It is essential for traders and investors to stay informed and monitor market dynamics to capitalize on potential opportunities.
What next?
Looking ahead, it will be interesting to observe the impact of upcoming economic events on market sentiment and trading activity. Additionally, developments in regulatory frameworks and institutional involvement will shape the cryptocurrency market’s future trajectory.
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.
