πŸ“ƒ Jul 13, 2024 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

Over the past 24 hours, the cryptocurrency market has shown a neutral to slightly positive trend. Bitcoin, the leading cryptocurrency, has experienced a minor price increase of 0.97% during this period, indicating some stability. Ethereum has also seen a growth of 1.09%, suggesting a positive sentiment in the market. However, it is important to note that volatility remains a factor, as indicated by the 24-hour volatility differences in both Bitcoin and Ethereum. Additionally, several altcoins have shown promising potential, with news highlighting their performance and potential growth.

While the positive sentiment is evident, it is essential to exercise caution and carefully analyze the market’s dynamics. Factors such as market sentiment, technological developments, regulatory changes, and macroeconomic indicators can significantly impact the cryptocurrency market. Considering the recent trends and developments, there is a moderate level of confidence in the positive sentiment observed, but ongoing vigilance and analysis are necessary to gain a comprehensive understanding of the market’s trajectory in the coming hours.

What is important

In the current state of the cryptocurrency market, several factors are crucial to understanding its dynamics. The positive sentiment observed in leading cryptocurrencies like Bitcoin and Ethereum suggests a relatively stable market in the last 24 hours. However, the volatile nature of cryptocurrencies calls for careful analysis and monitoring of market trends. It is vital to stay up-to-date with news and developments in the cryptocurrency ecosystem. Additionally, paying attention to economic events, mining activities, and market capitalizations can provide valuable insights into future market directions. By staying informed and understanding these key factors, investors and traders can make more informed decisions in the cryptocurrency market.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Genesis Trading-labelled address moves $720M BTC to Coinbase, pointing to the start of asset liquidations– Genesis Trading completes a $720 million Bitcoin transfer for Coinbase asset liquidations.
  2. Genesis-labelled address moves $720M BTC to Coinbase, pointing to start of asset liquidations– Genesis TradingΒ΄s $720M Bitcoin liquidations on Coinbase show the growing interest in cryptocurrency assets.
  3. VanEck CEO Says Bitcoin Correction Is Normal, Outlines Two Bullish Catalysts for BTC– Vaneck CEO says Bitcoin correction is normal, outlines two bullish catalysts for BTC.
  4. Bitcoin risks 30% loss against XRP if Β΄triple bottomΒ΄ confirms– XRP shows a triple bottom pattern and is expected to experience a 30% price increase against Bitcoin.
  5. Seven Years of Binance: CEO Richard Teng Shares Insights on Achievements and Future Goals– Binance CEO Richard Teng shares insights on achievements and future goals.

Factors DrivingΒ the Growth – Market Sentiment

The most mentioned positive sentiment keywords in the news during the last 24 hours include ‘Bitcoin,’ ‘XRP,’ ‘cryptocurrency,’ ‘cryptocurrency market,’ ‘Dogecoin,’ ‘Ethereum,’ ‘price,’ ‘Abra,’ ‘Cardano,’ and ‘CEO.’ On the other hand, the negative sentiment keywords comprise ‘Bitcoin,’ ‘cryptocurrency market,’ ‘Dough Finance,’ ‘Coinbase,’ ‘German government,’ ‘$60k,’ ‘access,’ ‘Bitcoin mining,’ ‘Bitcoin price,’ and ‘BTC.’ These keywords provide insights into the overall sentiment and focus of news coverage in the cryptocurrency market.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
12bitcoin
7xrp
5cryptocurrency
5cryptocurrency market
4dogecoin
4ethereum
4price
3abra
3cardano
3ceo

Negative Terms – Sentiment Analysis

OccurrencesKeyword
15bitcoin
4cryptocurrency market
4dough finance
3coinbase
3german government
2$60k
2access
2bitcoin mining
2bitcoin price
2btc

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators in the cryptocurrency market suggest a mixed sentiment among investors. While Bitcoin has shown a slight increase in price, the Fear and Greed Index remains in the neutral range. This indicates a balanced sentiment between fear and greed, suggesting cautious optimism among market participants. It is important to note that market sentiment can change rapidly, driven by various factors such as regulatory announcements, macroeconomic indicators, and technological advancements. Investors should closely monitor these indicators to gauge market sentiment and make informed decisions.

DateValueVariationSource
2024-07-12 00:00:0025pt-4ptAlternative.me
2024-07-11 00:00:0029pt1ptAlternative.me
2024-07-10 00:00:0028pt0ptAlternative.me
2024-07-12 00:00:0025pt-4ptBinance.com
2024-07-12 00:00:0029pt0ptBinance.com
2024-07-11 00:00:0028pt0ptBinance.com
2024-07-11 00:00:0029pt1ptBinance.com
2024-07-10 00:00:0027pt0ptBinance.com
2024-07-10 00:00:0028pt1ptBinance.com
2024-07-12 00:00:0025pt-4ptBitDegree.org
2024-07-11 00:00:0029pt1ptBitDegree.org
2024-07-10 00:00:0028pt0ptBitDegree.org
2024-07-12 16:00:0043pt3ptBtcTools.io
2024-07-12 00:00:0040pt0ptBtcTools.io
2024-07-11 16:00:0040pt3ptBtcTools.io
2024-07-11 08:00:0037pt-1ptBtcTools.io
2024-07-11 00:00:0038pt0ptBtcTools.io
2024-07-10 16:00:0038pt-2ptBtcTools.io
2024-07-10 08:00:0040pt4ptBtcTools.io
2024-07-10 00:00:0036pt0ptBtcTools.io
2024-07-12 00:00:0025pt-4ptCoinstats.app
2024-07-11 00:00:0029pt1ptCoinstats.app
2024-07-10 00:00:0028pt0ptCoinstats.app
2024-07-12 00:00:0025pt-4ptLookIntoBitcoin.com
2024-07-12 00:00:0029pt0ptLookIntoBitcoin.com
2024-07-11 00:00:0028pt0ptLookIntoBitcoin.com
2024-07-11 00:00:0029pt1ptLookIntoBitcoin.com
2024-07-10 00:00:0027pt0ptLookIntoBitcoin.com
2024-07-10 00:00:0028pt1ptLookIntoBitcoin.com

Bitcoin: Active Addresses

The Bitcoin Address Indicators reveal stable figures in terms of active addresses and quantities of wallet addresses based on balance values. The total addresses and zero balance addresses have remained consistent in the last 24 hours, indicating a steady level of user activity. Conversely, Bitcoin’s active addresses have experienced slight fluctuations but remained within a reasonable range. These indicators suggest that Bitcoin continues to attract attention and usage, maintaining a robust user base.

DateAddressesVariationIndicatorSource
2024-07-12 16:00:001,305,688,2740.00%Total Addressesbitaps.com
2024-07-12 16:00:001,253,171,4700.00%Zero Balance Addressesbitaps.com
2024-07-12 16:00:00699,203-1.25%Bitcoin Active Addressesbtc.com
2024-07-12 16:00:00540,5370.00%Addresses with over 0bitaps.com
2024-07-12 16:00:00219,3780.00%Addresses with over 0.0000001bitaps.com
2024-07-12 16:00:003,519,6460.00%Addresses with over 0.000001bitaps.com
2024-07-12 16:00:0010,461,2750.00%Addresses with over 0.00001bitaps.com
2024-07-12 16:00:0013,433,399-0.01%Addresses with over 0.0001bitaps.com
2024-07-12 16:00:0011,753,7500.00%Addresses with over 0.001bitaps.com
2024-07-12 16:00:008,030,1010.00%Addresses with over 0.01bitaps.com
2024-07-12 16:00:003,547,7190.00%Addresses with over 0.1bitaps.com
2024-07-12 16:00:00858,0440.00%Addresses with over 1bitaps.com
2024-07-12 16:00:00137,1210.00%Addresses with over 10bitaps.com
2024-07-12 16:00:0013,768-0.08%Addresses with over 100bitaps.com
2024-07-12 16:00:001,9610.05%Addresses with over 1,000bitaps.com
2024-07-12 16:00:001010.00%Addresses with over 10,000bitaps.com
2024-07-12 16:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The recent economic events in the global financial market have had a moderate impact on cryptocurrencies. Key events include CFTC speculative net positions for various currencies, U.S. Baker Hughes Rig Count, PPI reports, and consumer sentiment indices. While these events may indirectly influence market sentiment, the cryptocurrency market often operates independently of traditional economic indicators. However, staying informed about such events can provide valuable insights into broader market trends and potential shifts in investor sentiment.

DateImpactEvent
2024-07-12 19:30:00ModerateEUR – CFTC EUR speculative net positions
2024-07-12 19:30:00ModerateJPY – CFTC JPY speculative net positions
2024-07-12 19:30:00ModerateBRL – CFTC BRL speculative net positions
2024-07-12 19:30:00ModerateAUD – CFTC AUD speculative net positions
2024-07-12 19:30:00ModerateUSD – CFTC S&P 500 speculative net positions
2024-07-12 19:30:00ModerateUSD – CFTC Nasdaq 100 speculative net positions
2024-07-12 19:30:00ModerateUSD – CFTC Gold speculative net positions
2024-07-12 19:30:00ModerateUSD – CFTC Crude Oil speculative net positions
2024-07-12 19:30:00ModerateGBP – CFTC GBP speculative net positions
2024-07-12 17:00:00ModerateUSD – U.S. Baker Hughes Total Rig Count
2024-07-12 17:00:00ModerateUSD – U.S. Baker Hughes Oil Rig Count
2024-07-12 16:00:00ModerateUSD – WASDE Report
2024-07-12 14:00:00ModerateUSD – Michigan Consumer Sentiment (Jul)
2024-07-12 14:00:00ModerateUSD – Michigan Consumer Expectations (Jul)
2024-07-12 14:00:00ModerateUSD – Michigan 5-Year Inflation Expectations (Jul)
2024-07-12 14:00:00ModerateUSD – Michigan 1-Year Inflation Expectations (Jul)
2024-07-12 14:00:00ModerateConsumer Sentiment Year-ahead Inflation Expectations
2024-07-12 14:00:00ModerateConsumer Sentiment Index
2024-07-12 12:30:00ModerateCAD – Building Permits (MoM) (May)
2024-07-12 12:30:00HighUSD – PPI (MoM) (Jun)
2024-07-12 12:30:00ModerateUSD – Core PPI (MoM) (Jun)
2024-07-12 12:30:00HighPPI-Final Demand Ex-Food, Energy & Trade Services – M/M
2024-07-12 12:30:00HighPPI-Final Demand Ex-Food, Energy & Trade Services – Y/Y
2024-07-12 12:30:00HighPPI-Final Demand Ex-Food & Energy – Y/Y
2024-07-12 12:30:00HighPPI-Final Demand PPI-FD – M/M
2024-07-12 12:30:00HighPPI-Final Demand PPI-FD – Y/Y
2024-07-12 12:30:00HighPPI-Final Demand Ex-Food & Energy – M/M
2024-07-12 12:00:00ModerateINR – CPI (YoY) (Jun)
2024-07-12 10:00:00ModerateEUR – Eurogroup Meetings
2024-07-12 09:04:00ModerateCNY – New Loans (Jun)
2024-07-12 09:00:00ModerateCNY – New Loans (Jun)
2024-07-12 07:00:00ModerateEUR – Spanish HICP (YoY) (Jun)
2024-07-12 07:00:00ModerateEUR – Spanish CPI (YoY) (Jun)
2024-07-12 06:45:00ModerateEUR – French HICP (MoM) (Jun)
2024-07-12 06:45:00ModerateEUR – French CPI (MoM) (Jun)
2024-07-12 04:30:00ModerateJPY – Industrial Production (MoM) (May)
2024-07-12 03:23:00ModerateCNY – Trade Balance (USD) (Jun)
2024-07-12 03:23:00ModerateCNY – Imports (YoY) (Jun)
2024-07-12 03:23:00ModerateCNY – Exports (YoY) (Jun)
2024-07-12 03:13:00ModerateCNY – Trade Balance (USD) (Jun)
2024-07-12 03:13:00ModerateCNY – Imports (YoY) (Jun)
2024-07-12 03:13:00ModerateCNY – Exports (YoY) (Jun)
2024-07-12 03:00:00ModerateCNY – Trade Balance (USD) (Jun)
2024-07-12 03:00:00ModerateCNY – Imports (YoY) (Jun)
2024-07-12 03:00:00ModerateCNY – Exports (YoY) (Jun)
2024-07-12 02:00:00ModerateCNY – Trade Balance (USD) (Jun)
2024-07-12 02:00:00ModerateCNY – Imports (YoY) (Jun)
2024-07-12 02:00:00ModerateCNY – Exports (YoY) (Jun)

Crypto Assets Prices

The recent price movements in the cryptocurrency market have shown a relatively positive trend. Leading cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin have experienced modest price increases in the last 24 hours. However, price volatility remains a factor to consider, as indicated by variations in the 24-hour price differences. It is important for investors to closely monitor price movements and market dynamics to make informed decisions.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-07-12 23:42:00Bitcoin57,824.010.97%0.841.64%3.51-1.05%
2024-07-11 23:42:00Bitcoin57,264.00-0.94%-0.80-0.37%4.560.51%
2024-07-10 23:42:00Bitcoin57,800.89-0.36%-0.43-2.71%4.050.48%
2024-07-12 23:42:00Ethereum3,126.271.09%0.861.15%3.69-1.63%
2024-07-11 23:42:00Ethereum3,092.11-0.37%-0.29-1.49%5.321.10%
2024-07-10 23:42:00Ethereum3,103.561.21%1.20-0.35%4.220.51%
2024-07-12 23:42:00Binance Coin533.001.74%1.541.73%3.97-0.84%
2024-07-11 23:42:00Binance Coin523.70-0.19%-0.19-1.70%4.811.27%
2024-07-10 23:42:00Binance Coin524.701.49%1.510.26%3.540.72%

CryptocurrencyΒ Capitalization and Volume

The market capitalizations and volumes of major cryptocurrencies have shown stable figures in the last 24 hours. Bitcoin, Ethereum, and Tether, among others, have maintained consistent capitalization levels. However, trading volumes on various exchanges have experienced moderate fluctuations. It is crucial to consider both capitalization and volume figures to gain a comprehensive understanding of the cryptocurrency market’s liquidity and investor interest.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-07-12 00:00:00Binance Coin80,735,885,2010.02%807,513,1951.82%
2024-07-11 00:00:00Binance Coin80,718,169,6171.46%793,098,7446.89%
2024-07-10 00:00:00Binance Coin79,558,013,4051.33%741,956,565-42.02%
2024-07-12 00:00:00Bitcoin1,130,276,546,536-0.80%29,070,777,1428.66%
2024-07-11 00:00:00Bitcoin1,139,350,681,823-0.48%26,753,644,692-5.90%
2024-07-10 00:00:00Bitcoin1,144,794,688,1872.43%28,431,798,563-31.68%
2024-07-12 00:00:00Ethereum372,384,838,887-0.13%14,058,546,523-1.25%
2024-07-11 00:00:00Ethereum372,867,773,1891.12%14,236,087,224-4.47%
2024-07-10 00:00:00Ethereum368,733,224,9761.63%14,902,982,166-28.43%
2024-07-12 00:00:00Tether112,437,835,8050.14%44,417,474,7625.62%
2024-07-11 00:00:00Tether112,278,208,9090.01%42,052,904,8610.51%
2024-07-10 00:00:00Tether112,264,962,3940.08%41,841,228,112-25.22%

Cryptocurrency Exchanges Volume and Variation

The major cryptocurrency exchanges have displayed mixed trends in trading volumes. Binance, Bitfinex, and Bybit have witnessed variations in trading volumes, indicating fluctuations in investor activity. On the other hand, exchanges such as Coinbase, Crypto.com, and Kraken have shown more stable volumes during this period. These differences highlight the diverse trading landscapes across different exchanges and the need to consider individual exchange dynamics when analyzing the overall market.

DateExchangeVolumeVariation
2024-07-12 00:00:00Binance209,22410.43%
2024-07-11 00:00:00Binance189,463-9.12%
2024-07-10 00:00:00Binance208,474-37.47%
2024-07-12 00:00:00Binance US1274.10%
2024-07-11 00:00:00Binance US1227.96%
2024-07-10 00:00:00Binance US113-36.52%
2024-07-12 00:00:00Bitfinex3,15349.01%
2024-07-11 00:00:00Bitfinex2,116-26.96%
2024-07-10 00:00:00Bitfinex2,897-28.08%
2024-07-12 00:00:00Bybit71,5215.69%
2024-07-11 00:00:00Bybit67,6681.19%
2024-07-10 00:00:00Bybit66,869-27.58%
2024-07-12 00:00:00Coinbase32,89610.06%
2024-07-11 00:00:00Coinbase29,888-6.75%
2024-07-10 00:00:00Coinbase32,050-38.27%
2024-07-12 00:00:00Crypto.com38,62115.75%
2024-07-11 00:00:00Crypto.com33,3671.96%
2024-07-10 00:00:00Crypto.com32,726-28.46%
2024-07-12 00:00:00Gate.io37,3494.49%
2024-07-11 00:00:00Gate.io35,745-9.56%
2024-07-10 00:00:00Gate.io39,524-40.62%
2024-07-12 00:00:00Kraken11,82119.44%
2024-07-11 00:00:00Kraken9,8973.12%
2024-07-10 00:00:00Kraken9,598-26.84%
2024-07-12 00:00:00KuCoin10,49512.60%
2024-07-11 00:00:00KuCoin9,321-5.84%
2024-07-10 00:00:00KuCoin9,899-28.64%
2024-07-12 00:00:00OKX29,4981.22%
2024-07-11 00:00:00OKX29,1423.91%
2024-07-10 00:00:00OKX28,045-43.65%

Mining – Blockchain Technology

The mining sector of the cryptocurrency market has demonstrated stability and growth in the past 24 hours. The mining difficulty and block rewards have remained relatively constant, indicating steady mining operations. Additionally, the hash rate has shown variations, reflecting the dynamic nature of mining activities. These mining indicators exemplify the ongoing computational power dedicated to maintaining network security and producing new cryptocurrency units. It is essential to monitor these indicators to assess the health and competitiveness of the mining ecosystem.

Item2024-07-122024-07-112024-07-102024-07-092024-07-082024-07-072024-07-06
Difficulty83.68T83.68T83.68T83.68T83.68T83.68T83.68T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks851.75K851.61K851.47K851.32K851.16K851.02K850.86K
Blocks Variation0.02%0.02%0.02%0.02%0.02%0.02%0.01%
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 GB553.37B537.68B605.37B628.78B557.89B656.59B470.29B
Hash Rate GB Variation2.92%-11.18%-3.72%12.71%-15.03%39.62%-19.91%

Conclusion

In conclusion, the cryptocurrency market has shown a neutral to slightly positive trend in the last 24 hours. While Bitcoin and Ethereum have experienced minor price increases, maintaining stability, volatility remains a factor to consider. Market capitalizations, trading volumes, and mining indicators have demonstrated overall stability, reflecting ongoing interest and activities in the market. It is important to stay updated with the latest news, monitor market trends, and consider various indicators to make informed decisions in the dynamic cryptocurrency market.

So What

The practical implications of the current state of the cryptocurrency market highlight the need for cautious optimism. With the positive sentiment among leading cryptocurrencies, there may be growth opportunities for investors. However, it is crucial to remain vigilant and conduct thorough research before making any investment decisions. Understanding market dynamics, monitoring news developments, and assessing risk are key factors for navigating the cryptocurrency market.

What next?

Looking ahead, continued monitoring of market trends and developments is essential. Factors such as regulatory announcements, technological advancements, and market sentiment can significantly influence the cryptocurrency market’s direction. As the market evolves, it is important to stay informed and adapt strategies accordingly, considering both short-term opportunities and long-term sustainability.

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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