Crypto Market Analysis & Trend: Neutral/Trending Up
Over the past 24 hours, the cryptocurrency market has shown a neutral to trending up trend. Bitcoin (BTC), the leading cryptocurrency, has stabilized around $64,000, indicating a consolidation phase. Ethereum (ETH) has experienced a slight price increase, reaching $3,436.39, reflecting positive sentiment towards the launch of spot Ethereum ETFs. The market is witnessing some positive developments, with Bitcoin’s price being supported by a bull market trendline that previously sparked significant gains.
The evidence supporting this trend is the stable price levels of Bitcoin and Ethereum, along with the growing interest in spot Ethereum ETFs. However, it is important to note that the market remains sensitive to external factors such as regulatory news and security breaches, evident from recent incidents like the WazirX hack.
The confidence in this analysis is moderate, as while there are positive indicators such as the stability of Bitcoin and Ethereum prices, the market sentiment remains somewhat fragile due to recent security breaches and regulatory concerns. It is crucial to closely monitor these factors to assess the sustainability of the current trend.
What is important
Currently, the key points to understand about the cryptocurrency market are the stable prices of Bitcoin and Ethereum, the launch of spot Ethereum ETFs, and the recent security breaches affecting exchanges. Bitcoin has found support around $64,000, indicating a consolidation phase. Ethereum has shown positive sentiment due to the anticipation of spot Ethereum ETFs. However, the market remains sensitive to security breaches and regulatory news, as seen in the recent WazirX hack and potential impact on investor confidence.
It is important for investors to exercise caution and stay informed about the changing regulatory landscape and security risks. Additionally, monitoring the performance of spot Ethereum ETFs can provide insights into the market’s sentiment towards Ethereum. Overall, a careful and vigilant approach is necessary considering the potential impact of external factors on the market.
Top 5 – Latest Headlines & Cryptocurrency News
- Shiba Inu price drops 10% — SHIB sell-off risk soars amid WazirX $235M hack– Shiba Inu price drops due to a sell-off risk and the WazirX hack.
- Bitcoin Price Steadies: What Are the Chances of Another Rise?– Bitcoin price stabilizes at $64k.
- Ethereum ETFs will have a bigger impact on ETH price: Bitwise– Cryptocurrency trader Bitwise predicts positive price predictions for the launch of a spot Ethereum ETF.
- Crypto Prices Today July 18: Bitcoin Back To $64K While XRP Holds Above $0.6– Bitcoin is back to $64k while XRP holds above $0.6.
- Indian crypto exchange falls victim to $235M hack– Indian crypto exchange WazirX hacked, losing $235M worth of cryptocurrency.
Factors Driving the Growth – Market Sentiment
Analyzing the positive and negative sentiment keywords mentioned in the news over the last 24 hours, Bitcoin is the most mentioned positive and negative keyword. This indicates the significance of Bitcoin in the current market sentiment. Other positive keywords include price, cryptocurrency market, surge, and analyst. On the negative side, mentions of WazirX, hack, and North Korea are prominent, indicating concerns over security breaches and geopolitical factors. It is crucial to consider these keywords as they reflect the major topics driving market sentiment and investor sentiment.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 21 | bitcoin |
| 10 | price |
| 7 | cryptocurrency market |
| 7 | surge |
| 5 | analyst |
| 4 | australia |
| 4 | cryptocurrency |
| 4 | ethereum |
| 4 | rally |
| 4 | ripple |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 18 | wazirx |
| 9 | hack |
| 7 | bitcoin |
| 4 | $230m |
| 4 | mt. gox |
| 4 | north korea |
| 3 | $235 million |
| 3 | crypto exchange |
| 3 | crypto exchanges |
| 3 | indian crypto exchange |
Crypto Investor Fear & Greed Index
Looking at the Fear and Greed Indicators, the market sentiment can be categorized as leaning towards greed, with Fear and Greed Indicators mostly falling within the greed range of 50 to 74. The indicators have shown stability, with slight variations in value but remaining within the greed zone. These indicators provide insights into the overall sentiment of market participants, suggesting a higher appetite for risk and optimism in the market. However, investors should remain cautious and monitor any shift towards extreme greed or fear, as it may indicate a potential reversal in market sentiment.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-07-18 00:00:00 | 61pt | -8pt | Alternative.me |
| 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 |
| 2024-07-18 00:00:00 | 61pt | -8pt | Binance.com |
| 2024-07-18 00:00:00 | 69pt | 0pt | Binance.com |
| 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 |
| 2024-07-18 00:00:00 | 61pt | -8pt | BitDegree.org |
| 2024-07-17 00:00:00 | 69pt | 17pt | BitDegree.org |
| 2024-07-16 00:00:00 | 52pt | 0pt | BitDegree.org |
| 2024-07-18 16:00:00 | 68pt | 3pt | BtcTools.io |
| 2024-07-18 00:00:00 | 65pt | -1pt | BtcTools.io |
| 2024-07-17 16:00:00 | 66pt | 5pt | BtcTools.io |
| 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 | 0pt | BtcTools.io |
| 2024-07-18 00:00:00 | 61pt | -8pt | Coinstats.app |
| 2024-07-17 00:00:00 | 69pt | 4pt | Coinstats.app |
| 2024-07-16 00:00:00 | 65pt | 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 |
Bitcoin: Active Addresses
Analyzing the Bitcoin Address Indicators, it is observed that the total number of addresses has remained relatively stable over the past few days. The number of active addresses and addresses with non-zero balances has also remained consistent. This suggests that there is no significant change in user activity or the distribution of Bitcoin holdings among addresses. These indicators provide insights into the level of engagement and participation of users in the Bitcoin network. Monitoring these addresses can help assess the network’s health and usage.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-07-18 15:00:00 | 1,307,270,494 | 0.00% | Total Addresses | bitaps.com |
| 2024-07-18 15:00:00 | 1,254,979,102 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-07-18 15:00:00 | 748,220 | 0.76% | Bitcoin Active Addresses | btc.com |
| 2024-07-18 15:00:00 | 540,546 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-07-18 15:00:00 | 219,380 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-07-18 15:00:00 | 3,533,869 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-07-18 15:00:00 | 10,471,111 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-07-18 15:00:00 | 13,283,457 | -0.03% | Addresses with over 0.0001 | bitaps.com |
| 2024-07-18 15:00:00 | 11,670,309 | 0.00% | Addresses with over 0.001 | bitaps.com |
| 2024-07-18 15:00:00 | 8,014,845 | 0.00% | Addresses with over 0.01 | bitaps.com |
| 2024-07-18 15:00:00 | 3,547,074 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-07-18 15:00:00 | 857,941 | -0.01% | Addresses with over 1 | bitaps.com |
| 2024-07-18 15:00:00 | 136,988 | 0.02% | Addresses with over 10 | bitaps.com |
| 2024-07-18 15:00:00 | 13,809 | -0.01% | Addresses with over 100 | bitaps.com |
| 2024-07-18 15:00:00 | 1,958 | 0.05% | Addresses with over 1,000 | bitaps.com |
| 2024-07-18 15:00:00 | 101 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-07-18 15:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
Considering the Economic Events, some notable events include FOMC member speeches and interest rate decisions. The speeches may impact market sentiment as they provide insights into future monetary policies. Additionally, economic indicators such as CPI and employment data can influence the broader financial market and potentially have spillover effects on the cryptocurrency market. It is crucial for investors to stay informed about these events to assess potential market movements and adjust their strategies accordingly.
| Date | Impact | Event |
|---|---|---|
| 2024-07-18 23:45:00 | Moderate | USD – FOMC Member Bowman Speaks |
| 2024-07-18 23:30:00 | Moderate | JPY – National CPI (MoM) (Jun) |
| 2024-07-18 23:30:00 | Moderate | JPY – National CPI (MoM) |
| 2024-07-18 23:30:00 | Moderate | JPY – National Core CPI (YoY) (Jun) |
| 2024-07-18 22:45:00 | Moderate | NZD – CPI (QoQ) |
| 2024-07-18 22:45:00 | Moderate | NZD – CPI (YoY) |
| 2024-07-18 22:05:00 | Moderate | USD – FOMC Member Daly Speaks |
| 2024-07-18 20:30:00 | Moderate | USD – Fed´s Balance Sheet |
| 2024-07-18 20:00:00 | Moderate | USD – TIC Net Long-Term Transactions (May) |
| 2024-07-18 20:00:00 | Moderate | Treasury International Capital Net Long-Term Securities Transactions |
| 2024-07-18 17:00:00 | Moderate | USD – 10-Year TIPS Auction |
| 2024-07-18 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-07-18 14:15:00 | Moderate | EUR – ECB President Lagarde Speaks |
| 2024-07-18 14:00:00 | Moderate | USD – US Leading Index (MoM) (Jun) |
| 2024-07-18 13:00:00 | Moderate | ZAR – Interest Rate Decision (Jul) |
| 2024-07-18 12:45:00 | High | EUR – ECB Press Conference |
| 2024-07-18 12:30:00 | Moderate | USD – Philly Fed Employment (Jul) |
| 2024-07-18 12:30:00 | High | USD – Philadelphia Fed Manufacturing Index (Jul) |
| 2024-07-18 12:30:00 | High | USD – Initial Jobless Claims |
| 2024-07-18 12:30:00 | Moderate | USD – Continuing Jobless Claims |
| 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 |
| 2024-07-18 12:15:00 | High | EUR – ECB Interest Rate Decision (Jul) |
| 2024-07-18 12:15:00 | Moderate | EUR – ECB Monetary Policy Statement |
| 2024-07-18 12:15:00 | Moderate | EUR – ECB Marginal Lending Facility |
| 2024-07-18 12:15:00 | High | EUR – Deposit Facility Rate (Jul) |
| 2024-07-18 10:00:00 | Moderate | EUR – Eurogroup Meetings |
| 2024-07-18 06:00:00 | Moderate | GBP – Unemployment Rate (May) |
| 2024-07-18 06:00:00 | Moderate | GBP – Employment Change 3M/3M (MoM) (May) |
| 2024-07-18 06:00:00 | Moderate | GBP – Claimant Count Change (Jun) |
| 2024-07-18 06:00:00 | Moderate | GBP – Average Earnings Index +Bonus (May) |
| 2024-07-18 01:30:00 | Moderate | AUD – Unemployment Rate (Jun) |
| 2024-07-18 01:30:00 | Moderate | AUD – Full Employment Change (Jun) |
| 2024-07-18 01:30:00 | Moderate | AUD – Employment Change (Jun) |
| 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 |
Crypto Assets Prices
Analyzing the Prices table, it is observed that Bitcoin has shown stability, with a slight price drop of 0.31% over the last 24 hours. Ethereum, on the other hand, has seen a positive price variation of 1.17%. These price movements indicate a somewhat consolidating market, with modest fluctuations. It is important to note that the cryptocurrency market is influenced by various factors, and these price changes can be attributed to the overall market sentiment and investor behavior.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-07-18 23:43:00 | Bitcoin | 64,035.11 | -0.31% | -0.08 | 1.16% | 3.00 | -0.57% |
| 2024-07-17 23:43:00 | Bitcoin | 64,235.01 | -1.51% | -1.24 | -1.99% | 3.56 | -1.27% |
| 2024-07-16 23:43:00 | Bitcoin | 65,206.03 | 0.63% | 0.74 | -5.83% | 4.83 | -2.08% |
| 2024-07-18 23:43:00 | Ethereum | 3,436.39 | 1.17% | 1.46 | 2.85% | 3.65 | -0.53% |
| 2024-07-17 23:43:00 | Ethereum | 3,396.29 | -1.50% | -1.39 | -0.35% | 4.18 | -0.37% |
| 2024-07-16 23:43:00 | Ethereum | 3,447.14 | -1.30% | -1.04 | -8.63% | 4.54 | -3.51% |
| 2024-07-18 23:43:00 | Binance Coin | 572.80 | 0.54% | 0.69 | 1.83% | 3.21 | -0.29% |
| 2024-07-17 23:43:00 | Binance Coin | 569.70 | -1.19% | -1.15 | 0.36% | 3.49 | -2.48% |
| 2024-07-16 23:43:00 | Binance Coin | 576.50 | -1.73% | -1.50 | -9.14% | 5.97 | -1.94% |
Cryptocurrency Capitalization and Volume
Analyzing the Market Capitalizations and Volumes table, it is observed that the total market capitalization of major cryptocurrencies has shown slight variations, with Bitcoin, Ethereum, and Tether being the dominant players. The trading volumes of these cryptocurrencies have also experienced relatively stable patterns. These metrics provide insights into the overall valuation and liquidity of the market. It is essential to monitor these capitalizations and volumes to gauge market trends, investor sentiment, and liquidity conditions.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-07-18 00:00:00 | Binance Coin | 87,605,945,219 | -1.27% | 802,485,002 | -31.74% |
| 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% |
| 2024-07-18 00:00:00 | Bitcoin | 1,266,016,458,007 | -1.47% | 33,505,732,063 | -5.25% |
| 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% |
| 2024-07-18 00:00:00 | Ethereum | 407,908,628,078 | -1.64% | 16,971,971,632 | -19.00% |
| 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% |
| 2024-07-18 00:00:00 | Tether | 113,208,033,786 | 0.14% | 47,999,369,412 | 12.21% |
| 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% |
Cryptocurrency Exchanges Volume and Variation
Considering the Exchanges table, it is observed that Binance, Binance US, and Bitfinex are among the major exchanges contributing to the trading volumes in the cryptocurrency market. The variations in volume indicate fluctuations in market activity and liquidity on these exchanges. Monitoring the performance of these exchanges provides insights into the participation of traders and investor sentiment.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-07-18 00:00:00 | Binance | 228,204 | -18.92% |
| 2024-07-17 00:00:00 | Binance | 281,452 | 18.02% |
| 2024-07-16 00:00:00 | Binance | 238,479 | 70.06% |
| 2024-07-18 00:00:00 | Binance US | 172 | -24.23% |
| 2024-07-17 00:00:00 | Binance US | 227 | 7.58% |
| 2024-07-16 00:00:00 | Binance US | 211 | 57.46% |
| 2024-07-18 00:00:00 | Bitfinex | 1,770 | -29.17% |
| 2024-07-17 00:00:00 | Bitfinex | 2,499 | -8.02% |
| 2024-07-16 00:00:00 | Bitfinex | 2,717 | 34.57% |
| 2024-07-18 00:00:00 | Bybit | 77,669 | -10.72% |
| 2024-07-17 00:00:00 | Bybit | 86,999 | 13.98% |
| 2024-07-16 00:00:00 | Bybit | 76,329 | 49.19% |
| 2024-07-18 00:00:00 | Coinbase | 36,215 | -20.82% |
| 2024-07-17 00:00:00 | Coinbase | 45,740 | -4.95% |
| 2024-07-16 00:00:00 | Coinbase | 48,120 | 135.10% |
| 2024-07-18 00:00:00 | Crypto.com | 40,031 | -21.75% |
| 2024-07-17 00:00:00 | Crypto.com | 51,158 | 16.24% |
| 2024-07-16 00:00:00 | Crypto.com | 44,011 | 64.65% |
| 2024-07-18 00:00:00 | Gate.io | 38,991 | -22.52% |
| 2024-07-17 00:00:00 | Gate.io | 50,323 | 24.39% |
| 2024-07-16 00:00:00 | Gate.io | 40,456 | 56.43% |
| 2024-07-18 00:00:00 | Kraken | 12,695 | -10.24% |
| 2024-07-17 00:00:00 | Kraken | 14,144 | -0.56% |
| 2024-07-16 00:00:00 | Kraken | 14,224 | 122.11% |
| 2024-07-18 00:00:00 | KuCoin | 11,830 | -18.03% |
| 2024-07-17 00:00:00 | KuCoin | 14,432 | 11.63% |
| 2024-07-16 00:00:00 | KuCoin | 12,928 | 47.51% |
| 2024-07-18 00:00:00 | OKX | 34,495 | -28.87% |
| 2024-07-17 00:00:00 | OKX | 48,498 | 18.04% |
| 2024-07-16 00:00:00 | OKX | 41,086 | 72.70% |
Mining – Blockchain Technology
Analyzing the Mining table, it is observed that the mining difficulty, mined blocks, block rewards, and hash rate have remained relatively stable over the past few days. These indicators provide insights into the computational mining capacity and the overall health of the mining network. It is important to monitor these factors to understand the supply dynamics and network security of cryptocurrencies.
| Item | 2024-07-18 | 2024-07-17 | 2024-07-16 | 2024-07-15 | 2024-07-14 | 2024-07-13 | 2024-07-12 |
|---|---|---|---|---|---|---|---|
| Difficulty | 79.50T | 79.50T | 79.50T | 83.68T | 83.68T | 83.68T | 83.68T |
| Difficulty Variation | 0.00% | 0.00% | -5.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 852.68K | 852.52K | 852.37K | 852.22K | 852.05K | 851.90K | 851.75K |
| 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 | 628.78B | 581.65B | 596.90B | 664.26B | 605.37B | 596.90B | 553.37B |
| Hash Rate GB Variation | 8.10% | -2.56% | -10.14% | 9.73% | 1.42% | 7.87% | 2.92% |
Conclusion
In conclusion, the cryptocurrency market is currently experiencing a neutral to trending up trend. Bitcoin and Ethereum have shown stability, with minor price fluctuations. The market sentiment leans towards greed, as indicated by the Fear and Greed Indicators. The Bitcoin Address Indicators suggest a consistent level of user engagement. Economic events and market capitalizations provide additional insights into the overall market dynamics.
However, the market remains susceptible to security breaches, regulatory developments, and geopolitical factors. Investors should exercise caution and stay informed about these market conditions.
Looking ahead, it will be important to monitor the market’s response to regulatory news, security incidents, and upcoming economic events. The performance of spot Ethereum ETFs and any developments in the adoption and integration of cryptocurrencies in mainstream financial systems will also be crucial to watch.
So What
The current state of the cryptocurrency market has important practical implications. Investors should exercise caution, conduct thorough research, and diversify their portfolios to mitigate risks. Staying informed about regulatory updates and security practices of exchanges is crucial when making investment decisions. This market environment calls for vigilant risk management and an understanding of the potential volatility associated with cryptocurrencies.
What next?
In the near future, the cryptocurrency market is expected to continue its neutral to trending up trend, driven by ongoing market developments and external factors. Security breaches, regulatory decisions, and geopolitical events will likely continue to influence market sentiment. It is anticipated that the performance of Ethereum ETFs and the general sentiment around spot ETFs will attract further investor attention. Additionally, market participants will closely monitor Bitcoin’s price stability and any major price movements.
However, cryptocurrency markets are inherently unpredictable, and investors should remain adaptable to changing market conditions. Regular evaluation of market updates and staying informed about new developments will be crucial for navigating the cryptocurrency landscape effectively.
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.
