Crypto Market Analysis & Trend: Neutral / Trending Up
The cryptocurrency market is currently experiencing a neutral to slightly positive trend. Several key factors suggest a potential uptrend over the next 8 hours. Firstly, Bitcoin has rebounded and is showing signs of recovery, with a surge in the price and increasing investor confidence in Ethereum. Additionally, the launch of Bitcoin ETFs by BlackRock and the positive interest in Ethereum with the approaching ETF launch are contributing to the positive sentiment. The recent surge in memecoins such as Pepe and PlayDoge further indicates renewed market interest and potential gains. However, caution should be exercised as negative factors like the exploit in Lifi Finance and the criticism of Bitcoin by Peter Schiff are creating some headwinds. Overall, the current landscape suggests a neutral to upward trajectory for the cryptocurrency market in the short term.
What is important
The current state of the cryptocurrency market showcases several essential aspects:
1. Bitcoin’s recovery: Bitcoin has rebounded, showing a positive price trend and increased market activity. This recovery has the potential to influence the overall market sentiment.
2. Ethereum’s performance: Ethereum is outperforming Bitcoin in terms of investor confidence, leading to potential opportunities for Ethereum-based investments.
3. Bitcoin ETFs: The launch of Bitcoin ETFs by BlackRock and Ark Invest is attracting significant investment flows into the market, indicating growing institutional interest and further market expansion.
4. Memecoins surge: Memecoins like Pepe and PlayDoge have experienced significant surges, reflecting renewed market interest and potential gains.
5. Negative factors: Some negative factors, such as the exploit in Lifi Finance and the criticism of Bitcoin by Peter Schiff, need to be considered as potential headwinds.
Top 5 – Latest Headlines & Cryptocurrency News
- Memecoins surge as Bitcoin rebounds: Pepe up over 20%, PlayDoge nears $6M– Meme coins like Pepe and PlayDoge surged as Bitcoin rebounded, with Pepe up over 20% and PlayDoge nearing $6M.
- Ethereum Outshines Bitcoin In Investor Confidence, Report Finds– Investor confidence in Ethereum surpasses Bitcoin.
- $301M Flows Into Bitcoin ETFs, Led by Blackrock and Ark Invest– Over $301 million has flowed into Bitcoin ETFs, led by BlackRock and Ark Invest.
- Charting Bitcoin´s road beyond $60K: A 20% surge in coming weeks?– Bitcoin is expected to see a 20% surge in the coming weeks, according to a chart analysis.
- Google Trends Shows Ethereum Interest Rising Rapidly as ETF Launch Approaches– Interest in Ethereum is increasing rapidly as the launch of an ETF approaches.
Factors Driving the Growth – Market Sentiment
Positive sentiment is prevalent in the market, with Bitcoin, Ethereum, and Bitcoin ETFs being mentioned frequently. The surge in memecoins like Pepe and PlayDoge further indicates the positive sentiment and potential for gains in the market. However, there are also negative sentiments related to specific events such as the exploit in Lifi Finance and the criticism of Bitcoin by Peter Schiff.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 35 | bitcoin |
| 11 | cryptocurrency market |
| 10 | surge |
| 9 | ethereum |
| 7 | price |
| 6 | $65k |
| 6 | xrp |
| 5 | bitcoin etfs |
| 5 | blackrock |
| 4 | bitcoin etf |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 6 | bitcoin |
| 5 | craig wright |
| 3 | satoshi nakamoto |
| 3 | tether |
| 2 | angel drainer |
| 2 | arrested |
| 2 | binance |
| 2 | bitcoin mining |
| 2 | bitfinex |
| 2 | cryptocurrency market |
Crypto Investor Fear & Greed Index
The Fear and Greed Indicators across various sources in the cryptocurrency market show a mix of fear and greed, leaning towards greed. Most indicators fall within the greed range, suggesting an overall positive sentiment. However, it is essential to monitor these indicators closely for any potential shifts in market sentiment.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-07-17 00:00:00 | 69pt | 4pt | Alternative.me |
| 2024-07-16 00:00:00 | 52pt | 0pt | Alternative.me |
| 2024-07-16 00:00:00 | 65pt | 13pt | Alternative.me |
| 2024-07-15 00:00:00 | 33pt | 0pt | Alternative.me |
| 2024-07-15 00:00:00 | 52pt | 19pt | Alternative.me |
| 2024-07-17 00:00:00 | 65pt | 0pt | Binance.com |
| 2024-07-17 00:00:00 | 69pt | 4pt | Binance.com |
| 2024-07-16 00:00:00 | 52pt | 0pt | Binance.com |
| 2024-07-16 00:00:00 | 65pt | 13pt | Binance.com |
| 2024-07-15 00:00:00 | 33pt | 0pt | Binance.com |
| 2024-07-15 00:00:00 | 52pt | 19pt | Binance.com |
| 2024-07-17 00:00:00 | 69pt | 17pt | BitDegree.org |
| 2024-07-16 00:00:00 | 52pt | 19pt | BitDegree.org |
| 2024-07-15 00:00:00 | 33pt | 0pt | BitDegree.org |
| 2024-07-17 08:00:00 | 61pt | 1pt | BtcTools.io |
| 2024-07-17 00:00:00 | 60pt | 6pt | BtcTools.io |
| 2024-07-16 16:00:00 | 54pt | 7pt | BtcTools.io |
| 2024-07-16 08:00:00 | 47pt | -11pt | BtcTools.io |
| 2024-07-16 00:00:00 | 58pt | 1pt | BtcTools.io |
| 2024-07-15 16:00:00 | 57pt | 2pt | BtcTools.io |
| 2024-07-15 08:00:00 | 55pt | 7pt | BtcTools.io |
| 2024-07-15 00:00:00 | 48pt | -7pt | BtcTools.io |
| 2024-07-14 16:00:00 | 55pt | 0pt | BtcTools.io |
| 2024-07-17 00:00:00 | 69pt | 4pt | Coinstats.app |
| 2024-07-16 00:00:00 | 65pt | 13pt | Coinstats.app |
| 2024-07-15 00:00:00 | 52pt | 0pt | Coinstats.app |
| 2024-07-17 00:00:00 | 65pt | 0pt | LookIntoBitcoin.com |
| 2024-07-17 00:00:00 | 69pt | 4pt | LookIntoBitcoin.com |
| 2024-07-16 00:00:00 | 52pt | 0pt | LookIntoBitcoin.com |
| 2024-07-16 00:00:00 | 65pt | 13pt | LookIntoBitcoin.com |
| 2024-07-15 00:00:00 | 33pt | 0pt | LookIntoBitcoin.com |
| 2024-07-15 00:00:00 | 52pt | 19pt | LookIntoBitcoin.com |
Bitcoin: Active Addresses
Bitcoin address indicators reflect a stable number of addresses and variations. The total addresses remain consistent, with slight fluctuations in the number of zero balance addresses and active addresses. This stability indicates the continued use and engagement with the Bitcoin network.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-07-17 14:00:00 | 1,306,984,900 | 0.00% | Total Addresses | bitaps.com |
| 2024-07-17 14:00:00 | 1,254,647,745 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-07-17 14:00:00 | 725,719 | -3.94% | Bitcoin Active Addresses | btc.com |
| 2024-07-17 14:00:00 | 540,544 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-07-17 14:00:00 | 219,379 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-07-17 14:00:00 | 3,531,857 | 0.01% | Addresses with over 0.000001 | bitaps.com |
| 2024-07-17 14:00:00 | 10,468,432 | 0.01% | Addresses with over 0.00001 | bitaps.com |
| 2024-07-17 14:00:00 | 13,327,083 | -0.02% | Addresses with over 0.0001 | bitaps.com |
| 2024-07-17 14:00:00 | 11,677,805 | 0.00% | Addresses with over 0.001 | bitaps.com |
| 2024-07-17 14:00:00 | 8,014,337 | 0.00% | Addresses with over 0.01 | bitaps.com |
| 2024-07-17 14:00:00 | 3,546,605 | 0.01% | Addresses with over 0.1 | bitaps.com |
| 2024-07-17 14:00:00 | 858,205 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-07-17 14:00:00 | 137,045 | -0.01% | Addresses with over 10 | bitaps.com |
| 2024-07-17 14:00:00 | 13,801 | 0.02% | Addresses with over 100 | bitaps.com |
| 2024-07-17 14:00:00 | 1,957 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-07-17 14:00:00 | 101 | 0.99% | Addresses with over 10,000 | bitaps.com |
| 2024-07-17 14:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The economic events in the global financial market, particularly those related to cryptocurrencies, show moderate to high impacts. Events such as treasury international capital net long-term securities transactions, jobless claims, and manufacturing indexes can influence market sentiment and the performance of cryptocurrencies.
| Date | Impact | Event |
|---|---|---|
| 2024-07-18 20:00:00 | Moderate | Treasury International Capital Net Long-Term Securities Transactions |
| 2024-07-18 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-07-18 12:30:00 | High | Jobless Claims Initial Claims – Level |
| 2024-07-18 12:30:00 | Moderate | Philadelphia Fed Manufacturing Index Index |
| 2024-07-18 12:30:00 | High | Jobless Claims Initial Claims – Change |
| 2024-07-18 12:30:00 | High | Jobless Claims 4-Week Moving Average |
| 2024-07-17 23:50:00 | Moderate | JPY – Trade Balance (Jun) |
| 2024-07-17 23:50:00 | Moderate | JPY – Exports (YoY) (Jun) |
| 2024-07-17 23:50:00 | Moderate | JPY – Adjusted Trade Balance |
| 2024-07-17 18:00:00 | Moderate | USD – Beige Book |
| 2024-07-17 17:00:00 | Moderate | USD – 20-Year Bond Auction |
| 2024-07-17 15:15:00 | Moderate | USD – Atlanta Fed GDPNow (Q2) |
| 2024-07-17 14:30:00 | Moderate | USD – Cushing Crude Oil Inventories |
| 2024-07-17 14:30:00 | High | USD – Crude Oil Inventories |
| 2024-07-17 14:30:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 2024-07-17 14:30:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 2024-07-17 14:30:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 2024-07-17 13:35:00 | Moderate | USD – Fed Waller Speaks |
| 2024-07-17 13:15:00 | Moderate | USD – Industrial Production (YoY) (Jun) |
| 2024-07-17 13:15:00 | Moderate | USD – Industrial Production (MoM) (Jun) |
| 2024-07-17 13:15:00 | High | Industrial Production Manufacturing Output – M/M |
| 2024-07-17 13:15:00 | High | Industrial Production Industrial Production – M/M |
| 2024-07-17 13:15:00 | High | Industrial Production Capacity Utilization Rate |
| 2024-07-17 12:30:00 | Moderate | CAD – Foreign Securities Purchases (May) |
| 2024-07-17 12:30:00 | Moderate | USD – Housing Starts (MoM) (Jun) |
| 2024-07-17 12:30:00 | Moderate | USD – Housing Starts (Jun) |
| 2024-07-17 12:30:00 | Moderate | USD – Building Permits (Jun) |
| 2024-07-17 12:30:00 | High | Housing Starts and Permits Permits – Annual Rate |
| 2024-07-17 12:30:00 | High | Housing Starts and Permits Starts – Annual Rate |
| 2024-07-17 09:00:00 | Moderate | EUR – CPI (MoM) (Jun) |
| 2024-07-17 09:00:00 | High | EUR – CPI (YoY) (Jun) |
| 2024-07-17 09:00:00 | Moderate | EUR – Core CPI (YoY) (Jun) |
| 2024-07-17 06:00:00 | Moderate | GBP – CPIH (YoY) |
| 2024-07-17 06:00:00 | Moderate | GBP – PPI Input (MoM) (Jun) |
| 2024-07-17 06:00:00 | High | GBP – CPI (YoY) (Jun) |
| 2024-07-17 06:00:00 | Moderate | GBP – CPI (MoM) (Jun) |
| 2024-07-16 22:45:00 | Moderate | NZD – CPI (QoQ) (Q2) |
| 2024-07-16 22:45:00 | Moderate | NZD – CPI (YoY) (Q2) |
| 2024-07-16 20:30:00 | Moderate | USD – API Weekly Crude Oil Stock |
| 2024-07-16 16:00:00 | Moderate | USD – Atlanta Fed GDPNow (Q2) |
Crypto Assets Prices
The prices of major cryptocurrencies like Bitcoin, Ethereum, and Binance Coin have experienced fluctuations over the past 24 hours. Bitcoin has shown a positive trend, with a rebound in price and a potential surge in the coming weeks. Ethereum has outperformed Bitcoin in terms of investor confidence, while Binance Coin has also seen significant price movements.
It is important to note that cryptocurrency prices are highly volatile and subject to market forces, making it crucial for investors to stay updated with real-time data and market analysis.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-07-17 14:22:00 | Bitcoin | 64,948.00 | 1.97% | 1.74 | 1.02% | 3.65 | -0.55% |
| 2024-07-16 14:22:00 | Bitcoin | 63,671.40 | 1.29% | 0.72 | -4.01% | 4.20 | -1.42% |
| 2024-07-15 14:22:00 | Bitcoin | 62,848.01 | 5.16% | 4.73 | 3.36% | 5.62 | 2.00% |
| 2024-07-17 14:22:00 | Ethereum | 3,457.94 | 1.58% | 1.30 | 0.39% | 3.05 | -1.49% |
| 2024-07-16 14:22:00 | Ethereum | 3,403.14 | 1.57% | 0.91 | -4.03% | 4.54 | -1.47% |
| 2024-07-15 14:22:00 | Ethereum | 3,349.59 | 5.05% | 4.94 | 4.11% | 6.02 | 3.45% |
| 2024-07-17 14:22:00 | Binance Coin | 576.40 | 1.39% | 1.26 | 2.09% | 2.71 | -3.26% |
| 2024-07-16 14:22:00 | Binance Coin | 568.40 | -0.37% | -0.82 | -7.40% | 5.97 | -1.81% |
| 2024-07-15 14:22:00 | Binance Coin | 570.50 | 6.59% | 6.58 | 6.52% | 7.78 | 5.32% |
Cryptocurrency Capitalization and Volume
The total market capitalization and volume of major cryptocurrencies have fluctuated over the past 24 hours. Bitcoin, Ethereum, and Tether have shown consistent capitalizations, while Binance Coin has experienced slight variations. The performance of these cryptocurrencies can be influenced by factors such as institutional investments, market demand, and overall market sentiment.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-07-17 00:00:00 | Binance Coin | 88,732,963,754 | -1.67% | 1,175,710,661 | 5.26% |
| 2024-07-16 00:00:00 | Binance Coin | 90,237,693,987 | 7.97% | 1,116,977,766 | 91.51% |
| 2024-07-15 00:00:00 | Binance Coin | 83,578,905,219 | 1.99% | 583,235,847 | -6.99% |
| 2024-07-17 00:00:00 | Bitcoin | 1,284,899,538,175 | 0.56% | 35,362,481,140 | -3.59% |
| 2024-07-16 00:00:00 | Bitcoin | 1,277,806,993,831 | 6.64% | 36,680,010,636 | 61.94% |
| 2024-07-15 00:00:00 | Bitcoin | 1,198,219,055,697 | 2.55% | 22,650,427,147 | 41.97% |
| 2024-07-17 00:00:00 | Ethereum | 414,703,698,412 | -1.10% | 20,952,159,820 | 14.17% |
| 2024-07-16 00:00:00 | Ethereum | 419,316,550,610 | 7.53% | 18,351,304,841 | 83.66% |
| 2024-07-15 00:00:00 | Ethereum | 389,938,342,176 | 2.16% | 9,992,179,342 | 29.39% |
| 2024-07-17 00:00:00 | Tether | 113,054,223,094 | 0.37% | 42,777,376,777 | -18.14% |
| 2024-07-16 00:00:00 | Tether | 112,632,082,133 | 0.16% | 52,254,437,490 | 146.98% |
| 2024-07-15 00:00:00 | Tether | 112,455,701,049 | 0.02% | 21,157,332,942 | -16.85% |
Cryptocurrency Exchanges Volume and Variation
The major exchanges in the cryptocurrency market have witnessed fluctuations in volume and variations over the past 24 hours. Binance remains one of the most active exchanges, followed by Binance US, Bitfinex, Bybit, Coinbase, Crypto.com, Gate.io, Kraken, KuCoin, and OKX. These exchanges play a crucial role in facilitating trading activities and contribute to the overall liquidity and price discovery in the market.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-07-17 00:00:00 | Binance | 281,452 | 18.02% |
| 2024-07-16 00:00:00 | Binance | 238,479 | 70.06% |
| 2024-07-15 00:00:00 | Binance | 140,231 | 21.99% |
| 2024-07-17 00:00:00 | Binance US | 227 | 7.58% |
| 2024-07-16 00:00:00 | Binance US | 211 | 57.46% |
| 2024-07-15 00:00:00 | Binance US | 134 | 5.51% |
| 2024-07-17 00:00:00 | Bitfinex | 2,499 | -8.02% |
| 2024-07-16 00:00:00 | Bitfinex | 2,717 | 34.57% |
| 2024-07-15 00:00:00 | Bitfinex | 2,019 | 34.24% |
| 2024-07-17 00:00:00 | Bybit | 86,999 | 13.98% |
| 2024-07-16 00:00:00 | Bybit | 76,329 | 49.19% |
| 2024-07-15 00:00:00 | Bybit | 51,161 | 11.08% |
| 2024-07-17 00:00:00 | Coinbase | 45,740 | -4.95% |
| 2024-07-16 00:00:00 | Coinbase | 48,120 | 135.10% |
| 2024-07-15 00:00:00 | Coinbase | 20,468 | 18.18% |
| 2024-07-17 00:00:00 | Crypto.com | 51,158 | 16.24% |
| 2024-07-16 00:00:00 | Crypto.com | 44,011 | 64.65% |
| 2024-07-15 00:00:00 | Crypto.com | 26,730 | 29.38% |
| 2024-07-17 00:00:00 | Gate.io | 50,323 | 24.39% |
| 2024-07-16 00:00:00 | Gate.io | 40,456 | 56.43% |
| 2024-07-15 00:00:00 | Gate.io | 25,862 | 21.73% |
| 2024-07-17 00:00:00 | Kraken | 14,144 | -0.56% |
| 2024-07-16 00:00:00 | Kraken | 14,224 | 122.11% |
| 2024-07-15 00:00:00 | Kraken | 6,404 | 34.00% |
| 2024-07-17 00:00:00 | KuCoin | 14,432 | 11.63% |
| 2024-07-16 00:00:00 | KuCoin | 12,928 | 47.51% |
| 2024-07-15 00:00:00 | KuCoin | 8,764 | 10.68% |
| 2024-07-17 00:00:00 | OKX | 48,498 | 18.04% |
| 2024-07-16 00:00:00 | OKX | 41,086 | 72.70% |
| 2024-07-15 00:00:00 | OKX | 23,790 | 19.59% |
Mining – Blockchain Technology
The mining sector of the cryptocurrency market exhibits stable mining difficulty, block rewards, and hash rates over the past 24 hours. Bitcoin continues to dominate the mining landscape, with consistent difficulty levels and block rewards. Ethereum and other cryptocurrencies also show stable mining operations, indicating the overall efficiency and security of the network.
| Item | 2024-07-17 | 2024-07-16 | 2024-07-15 | 2024-07-14 | 2024-07-13 | 2024-07-12 | 2024-07-11 |
|---|---|---|---|---|---|---|---|
| Difficulty | 79.50T | 79.50T | 83.68T | 83.68T | 83.68T | 83.68T | 83.68T |
| Difficulty Variation | 0.00% | -5.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 852.52K | 852.37K | 852.22K | 852.05K | 851.90K | 851.75K | 851.61K |
| 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 | 581.65B | 596.90B | 664.26B | 605.37B | 596.90B | 553.37B | 537.68B |
| Hash Rate GB Variation | -2.56% | -10.14% | 9.73% | 1.42% | 7.87% | 2.92% | -11.18% |
Conclusion
In conclusion, the cryptocurrency market is currently experiencing a neutral to slightly positive trend, with positive sentiments surrounding Bitcoin, Ethereum, Bitcoin ETFs, and the surge in memecoins. While there are some negative factors to consider, such as the exploit in Lifi Finance and criticism of Bitcoin, overall market conditions remain optimistic. It is crucial for investors and market participants to stay informed about real-time market data and trends to make wise investment decisions.
So What
The current state of the cryptocurrency market implies several practical implications. Investors need to stay cautious and make informed decisions based on comprehensive research, assessing both positive and negative factors. Additionally, monitoring market indicators, such as Fear and Greed Indexes and economic events, can help gauge market sentiment and potential price movements. As always, it is essential to exercise caution and manage risk effectively when engaging in the cryptocurrency market.
What next?
Looking ahead, the cryptocurrency market is expected to continue its neutral to slightly positive trend in the near future. Factors such as Bitcoin’s recovery, increasing investor confidence in Ethereum, and the launch of Bitcoin ETFs could potentially fuel market growth. Additionally, the performance of memecoins and the market response to negative events will influence overall market sentiment. It is important for investors to closely monitor these developments and stay updated with reliable market analysis and news.
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.
