Crypto Market Analysis & Trend: Neutral/Trending Up
The cryptocurrency market is currently showing a neutral to slightly upward trend. Evidence supporting this analysis includes the decrease in Ethereum gas fees to the lowest level since May, which contributes to more affordable transactions and increased accessibility to the network. Additionally, inflows to Bitcoin ETFs in Hong Kong, Australia, and the US have reached record highs, indicating growing interest and investment in Bitcoin. Moreover, positive sentiment is seen in the rise of various cryptocurrencies like XRP and the expectation of an altcoin season. On the other hand, negative sentiment arises from the identification of illicit crypto funds and scams associated with Bitcoin ATMs. However, overall, the market seems to be driven by positive developments and sentiment, indicating a potential upward trajectory for the next 8 hours.
What is important
In the current state of the cryptocurrency market, several key points are crucial to understand. Firstly, Ethereum gas fees are significantly reduced, reaching the lowest levels since May. This presents a positive impact on the Ethereum network by making transactions more affordable for users. Secondly, the inflows to Bitcoin ETFs have seen significant growth, setting new records in markets like Hong Kong, Australia, and the US. This trend indicates increased institutional interest and investment in Bitcoin. Additionally, the altcoin market has shown signs of a potential season, presenting opportunities for traders and investors. Lastly, it is important to note negative aspects like scams related to Bitcoin ATMs and the identification of illicit crypto funds, which requires continued vigilance and regulatory measures to protect users and maintain market integrity.
Top 5 – Latest Headlines & Cryptocurrency News
- Ethereum Gas Fees At Lowest Level Since May – Impact On ETH Price?– Ethereum gas fees reach lowest level since ETH price increase.
- Trader Says One Blue-Chip Memecoin Will ´Do Big Numbers´ This Year, Updates Outlook on Bitcoin and Ethereum– A trader predicts that a blue-chip memecoin will perform well this year and provides updates on Bitcoin and Ethereum.
- Hong Kong & Australia Bitcoin ETF Inflows Hit Record High– Bitcoin ETF inflows reach record high in Hong Kong and Australia.
- Spot Bitcoin ETF Inflows Reach 2-Month High – Here´s How Much They Bought– Inflows for spot Bitcoin ETF reach a 2-month high.
- Ethereum Gears Up For Gains: These Bullish Indicators Signal Potential Upside– Bullish indicators suggest potential upside for Ethereum.
Factors Driving the Growth – Market Sentiment
The positive sentiment in the market is reflected in the high occurrences of keywords like ‘bitcoin,’ ‘ethereum,’ ‘cryptocurrency market,’ ‘shiba inu,’ ‘xrp,’ and ‘bitcoin whales.’ These keywords indicate the overall optimism and interest surrounding cryptocurrencies. On the negative side, ‘bitcoin atm scams’ and ‘bitcoin miners’ keywords raise concerns about fraudulent activities and potential environmental impact. However, the positive keywords dominate the conversation, highlighting the market’s positive sentiment.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 10 | bitcoin |
| 10 | ethereum |
| 6 | cryptocurrency market |
| 5 | shiba inu |
| 5 | xrp |
| 4 | bitcoin whales |
| 4 | inflows |
| 3 | analysts |
| 3 | bitcoin price |
| 3 | dogecoin |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 2 | bitcoin atm scams |
| 2 | openai |
| 2 | xrp |
| 1 | $1.64 billion |
| 1 | $100 billion |
| 1 | altcoins |
| 1 | attorney general |
| 1 | bad debts |
| 1 | bitcoin |
| 1 | bitcoin miners |
Crypto Investor Fear & Greed Index
The fear and greed indicators suggest a mix of fear and greed sentiments in the cryptocurrency market. The values fall between the fear and greed ranges, indicating caution in some areas but also a level of optimism. It is important to monitor how these indicators evolve for a more accurate assessment of market sentiment.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-07-14 00:00:00 | 25pt | 0pt | Alternative.me |
| 2024-07-14 00:00:00 | 33pt | 8pt | Alternative.me |
| 2024-07-13 00:00:00 | 25pt | 0pt | Alternative.me |
| 2024-07-12 00:00:00 | 25pt | 0pt | Alternative.me |
| 2024-07-14 00:00:00 | 25pt | 0pt | Binance.com |
| 2024-07-14 00:00:00 | 33pt | 8pt | Binance.com |
| 2024-07-13 00:00:00 | 25pt | 0pt | Binance.com |
| 2024-07-12 00:00:00 | 25pt | -4pt | Binance.com |
| 2024-07-12 00:00:00 | 29pt | 0pt | Binance.com |
| 2024-07-14 00:00:00 | 25pt | 0pt | BitDegree.org |
| 2024-07-13 00:00:00 | 25pt | 0pt | BitDegree.org |
| 2024-07-12 00:00:00 | 25pt | 0pt | BitDegree.org |
| 2024-07-14 00:00:00 | 45pt | 5pt | BtcTools.io |
| 2024-07-13 16:00:00 | 40pt | -1pt | BtcTools.io |
| 2024-07-13 08:00:00 | 41pt | 2pt | BtcTools.io |
| 2024-07-13 00:00:00 | 39pt | -4pt | BtcTools.io |
| 2024-07-12 16:00:00 | 43pt | 3pt | BtcTools.io |
| 2024-07-12 00:00:00 | 40pt | 0pt | BtcTools.io |
| 2024-07-11 16:00:00 | 40pt | 3pt | BtcTools.io |
| 2024-07-11 08:00:00 | 37pt | 0pt | BtcTools.io |
| 2024-07-14 00:00:00 | 33pt | 8pt | Coinstats.app |
| 2024-07-13 00:00:00 | 25pt | 0pt | Coinstats.app |
| 2024-07-12 00:00:00 | 25pt | 0pt | Coinstats.app |
| 2024-07-14 00:00:00 | 25pt | 0pt | LookIntoBitcoin.com |
| 2024-07-14 00:00:00 | 33pt | 8pt | LookIntoBitcoin.com |
| 2024-07-13 00:00:00 | 25pt | 0pt | LookIntoBitcoin.com |
| 2024-07-12 00:00:00 | 25pt | -4pt | LookIntoBitcoin.com |
| 2024-07-12 00:00:00 | 29pt | 0pt | LookIntoBitcoin.com |
Bitcoin: Active Addresses
The Bitcoin Address Indicators table shows the number of active addresses and quantities of wallet addresses based on balance values. While the dataset provided displays steady figures, it is important to consider this data in conjunction with other metrics to gain a comprehensive understanding of the Bitcoin network’s activity.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-07-14 07:00:00 | 1,306,099,078 | 0.00% | Total Addresses | bitaps.com |
| 2024-07-14 07:00:00 | 1,253,558,384 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-07-14 07:00:00 | 644,329 | -1.76% | Bitcoin Active Addresses | btc.com |
| 2024-07-14 07:00:00 | 540,539 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-07-14 07:00:00 | 219,379 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-07-14 07:00:00 | 3,522,862 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-07-14 07:00:00 | 10,466,440 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-07-14 07:00:00 | 13,432,349 | 0.00% | Addresses with over 0.0001 | bitaps.com |
| 2024-07-14 07:00:00 | 11,772,316 | 0.00% | Addresses with over 0.001 | bitaps.com |
| 2024-07-14 07:00:00 | 8,029,285 | -0.01% | Addresses with over 0.01 | bitaps.com |
| 2024-07-14 07:00:00 | 3,546,583 | -0.02% | Addresses with over 0.1 | bitaps.com |
| 2024-07-14 07:00:00 | 858,040 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-07-14 07:00:00 | 137,052 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-07-14 07:00:00 | 13,784 | 0.01% | Addresses with over 100 | bitaps.com |
| 2024-07-14 07:00:00 | 1,960 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-07-14 07:00:00 | 101 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-07-14 07:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The Economic Events table provides insights into important events related to global financial markets, including central bank speeches, economic surveys, and industrial production data. Analyzing these events alongside market reactions can help identify potential impacts on the cryptocurrency market.
| Date | Impact | Event |
|---|---|---|
| 2024-07-15 20:35:00 | Moderate | USD – FOMC Member Daly Speaks |
| 2024-07-15 16:00:00 | High | USD – Fed Chair Powell Speaks |
| 2024-07-15 14:30:00 | Moderate | CAD – BoC Business Outlook Survey |
| 2024-07-15 12:30:00 | Moderate | CAD – Wholesale Sales (MoM) (May) |
| 2024-07-15 12:30:00 | Moderate | USD – NY Empire State Manufacturing Index (Jul) |
| 2024-07-15 10:00:00 | Moderate | EUR – Eurogroup Meetings |
| 2024-07-15 09:00:00 | Moderate | EUR – Industrial Production (MoM) (May) |
| 2024-07-15 06:30:00 | Moderate | INR – WPI Inflation (YoY) (Jun) |
| 2024-07-15 06:30:00 | Moderate | CHF – PPI (MoM) (Jun) |
| 2024-07-15 06:00:00 | Moderate | EUR – German Retail Sales (MoM) (May) |
| 2024-07-15 02:00:00 | Moderate | CNY – NBS Press Conference |
| 2024-07-15 02:00:00 | Moderate | CNY – Chinese Unemployment Rate (Jun) |
| 2024-07-15 02:00:00 | Moderate | CNY – Chinese Industrial Production YTD (YoY) (Jun) |
| 2024-07-15 02:00:00 | Moderate | CNY – Industrial Production (YoY) (Jun) |
| 2024-07-15 02:00:00 | Moderate | CNY – Chinese GDP YTD (YoY) (Q2) |
| 2024-07-15 02:00:00 | High | CNY – GDP (YoY) (Q2) |
| 2024-07-15 02:00:00 | Moderate | CNY – GDP (QoQ) (Q2) |
| 2024-07-15 02:00:00 | Moderate | CNY – Fixed Asset Investment (YoY) (Jun) |
Crypto Assets Prices
The Prices table reflects the price, price variation, and volatility of major cryptocurrencies. The analysis of these figures can highlight trends and potential shifts in the market. It is essential to combine this data with other factors such as market sentiment, news, and technical analysis to make informed trading decisions.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-07-14 07:43:00 | Bitcoin | 59,990.00 | 3.14% | 3.13 | 1.38% | 4.19 | 1.09% |
| 2024-07-13 07:43:00 | Bitcoin | 58,107.00 | 2.00% | 1.75 | 3.90% | 3.10 | -2.40% |
| 2024-07-12 07:43:00 | Bitcoin | 56,941.98 | -2.08% | -2.15 | -0.71% | 5.50 | 2.02% |
| 2024-07-14 07:43:00 | Ethereum | 3,194.39 | 1.78% | 1.73 | -0.40% | 2.48 | -1.20% |
| 2024-07-13 07:43:00 | Ethereum | 3,137.49 | 2.36% | 2.12 | 3.88% | 3.69 | -1.62% |
| 2024-07-12 07:43:00 | Ethereum | 3,063.36 | -1.71% | -1.76 | -2.37% | 5.31 | 2.14% |
| 2024-07-14 07:43:00 | Binance Coin | 538.10 | 0.48% | 0.37 | -2.35% | 2.29 | -1.47% |
| 2024-07-13 07:43:00 | Binance Coin | 535.50 | 2.82% | 2.72 | 4.09% | 3.76 | -1.67% |
| 2024-07-12 07:43:00 | Binance Coin | 520.40 | -1.29% | -1.36 | -2.26% | 5.44 | 3.47% |
Cryptocurrency Capitalization and Volume
The Market Capitalizations and Volumes table showcases the total market capitalization and volume of major cryptocurrencies. Analyzing these data points can provide insights into the overall market trends and investor interest in cryptocurrencies. However, it is important to consider these figures in conjunction with other metrics to form a comprehensive assessment of the market.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-07-14 00:00:00 | Binance Coin | 81,949,861,356 | -0.17% | 627,059,422 | -21.27% |
| 2024-07-13 00:00:00 | Binance Coin | 82,091,505,747 | 1.68% | 796,435,033 | -1.37% |
| 2024-07-12 00:00:00 | Binance Coin | 80,735,885,201 | 0.02% | 807,513,195 | 1.82% |
| 2024-07-14 00:00:00 | Bitcoin | 1,168,371,787,726 | 2.35% | 15,954,500,183 | -37.44% |
| 2024-07-13 00:00:00 | Bitcoin | 1,141,567,375,406 | 1.00% | 25,503,282,836 | -12.27% |
| 2024-07-12 00:00:00 | Bitcoin | 1,130,276,546,536 | -0.80% | 29,070,777,142 | 8.66% |
| 2024-07-14 00:00:00 | Ethereum | 381,711,250,543 | 1.44% | 7,722,353,045 | -37.81% |
| 2024-07-13 00:00:00 | Ethereum | 376,300,269,816 | 1.05% | 12,418,004,887 | -11.67% |
| 2024-07-12 00:00:00 | Ethereum | 372,384,838,887 | -0.13% | 14,058,546,523 | -1.25% |
| 2024-07-14 00:00:00 | Tether | 112,432,522,893 | 0.02% | 25,444,753,497 | -33.17% |
| 2024-07-13 00:00:00 | Tether | 112,412,688,005 | -0.02% | 38,073,849,053 | -14.28% |
| 2024-07-12 00:00:00 | Tether | 112,437,835,805 | 0.14% | 44,417,474,762 | 5.62% |
Cryptocurrency Exchanges Volume and Variation
The Exchanges table displays the total capitalization and volume for major exchanges in the cryptocurrency market. Monitoring the performance of exchanges can offer insights into investor preferences and market liquidity. However, it is crucial to evaluate these figures in conjunction with other factors such as regulatory developments and security measures in order to gain a complete understanding of the exchange landscape.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-07-14 00:00:00 | Binance | 114,956 | -34.83% |
| 2024-07-13 00:00:00 | Binance | 176,399 | -15.69% |
| 2024-07-12 00:00:00 | Binance | 209,224 | 10.43% |
| 2024-07-14 00:00:00 | Binance US | 127 | 19.81% |
| 2024-07-13 00:00:00 | Binance US | 106 | -16.54% |
| 2024-07-12 00:00:00 | Binance US | 127 | 4.10% |
| 2024-07-14 00:00:00 | Bitfinex | 1,504 | -36.75% |
| 2024-07-13 00:00:00 | Bitfinex | 2,378 | -24.58% |
| 2024-07-12 00:00:00 | Bitfinex | 3,153 | 49.01% |
| 2024-07-14 00:00:00 | Bybit | 46,059 | -27.93% |
| 2024-07-13 00:00:00 | Bybit | 63,906 | -10.65% |
| 2024-07-12 00:00:00 | Bybit | 71,521 | 5.69% |
| 2024-07-14 00:00:00 | Coinbase | 17,319 | -38.38% |
| 2024-07-13 00:00:00 | Coinbase | 28,104 | -14.57% |
| 2024-07-12 00:00:00 | Coinbase | 32,896 | 10.06% |
| 2024-07-14 00:00:00 | Crypto.com | 20,660 | -44.18% |
| 2024-07-13 00:00:00 | Crypto.com | 37,012 | -4.17% |
| 2024-07-12 00:00:00 | Crypto.com | 38,621 | 15.75% |
| 2024-07-14 00:00:00 | Gate.io | 21,246 | -27.99% |
| 2024-07-13 00:00:00 | Gate.io | 29,506 | -21.00% |
| 2024-07-12 00:00:00 | Gate.io | 37,349 | 4.49% |
| 2024-07-14 00:00:00 | Kraken | 4,779 | -55.28% |
| 2024-07-13 00:00:00 | Kraken | 10,686 | -9.60% |
| 2024-07-12 00:00:00 | Kraken | 11,821 | 19.44% |
| 2024-07-14 00:00:00 | KuCoin | 7,918 | -19.49% |
| 2024-07-13 00:00:00 | KuCoin | 9,835 | -6.29% |
| 2024-07-12 00:00:00 | KuCoin | 10,495 | 12.60% |
| 2024-07-14 00:00:00 | OKX | 19,893 | -21.33% |
| 2024-07-13 00:00:00 | OKX | 25,287 | -14.28% |
| 2024-07-12 00:00:00 | OKX | 29,498 | 1.22% |
Mining – Blockchain Technology
The Mining table presents information about mining difficulty, mined blocks, block rewards, and hash rate. These metrics reflect the computational power and activity within the cryptocurrency mining ecosystem. Analyzing these figures can provide insights into the overall health of the network and potential impacts on supply and demand dynamics.
| Item | 2024-07-14 | 2024-07-13 | 2024-07-12 | 2024-07-11 | 2024-07-10 | 2024-07-09 | 2024-07-08 |
|---|---|---|---|---|---|---|---|
| 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 | 852.05K | 851.90K | 851.75K | 851.61K | 851.47K | 851.32K | 851.16K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 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 | 605.37B | 596.90B | 553.37B | 537.68B | 605.37B | 628.78B | 557.89B |
| Hash Rate GB Variation | 1.42% | 7.87% | 2.92% | -11.18% | -3.72% | 12.71% | -15.03% |
Conclusion
In conclusion, the cryptocurrency market is currently experiencing a neutral to slightly upward trend. Positive developments such as reduced Ethereum gas fees, record-high inflows to Bitcoin ETFs, and the anticipation of an altcoin season contribute to this optimistic sentiment. However, negative aspects like scams associated with Bitcoin ATMs and identification of illicit crypto funds require ongoing attention from market participants and regulators. Overall, the market shows signs of positive sentiment and ongoing growth.
So What
The current state of the cryptocurrency market has practical implications. With reduced Ethereum gas fees and increased accessibility, users can benefit from more affordable transactions and improved network usability. Furthermore, the growing interest and investment in Bitcoin, as reflected in record-high inflows to Bitcoin ETFs, highlight the increasing acceptance and institutional adoption of cryptocurrencies. It is important for participants to stay informed about the potential risks and opportunities associated with the market dynamics to navigate effectively.
What next?
Looking forward, it is crucial to monitor key factors such as market sentiment, regulatory developments, and technological advancements. The continued evolution of Ethereum gas fees, Bitcoin ETFs’ performance, and movements in altcoin markets will be noteworthy. Additionally, developments in compliance measures and regulatory frameworks will play a vital role in shaping the market’s future trajectory. Overall, maintaining a balanced approach, staying informed, and conducting comprehensive research will be essential for market participants in navigating the 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.
