Crypto Market Analysis & Trend: Neutral/Trending Up
In the last 24 hours, the cryptocurrency market has shown a neutral to trending up trend. Bitcoin (BTC) has experienced a slight upward movement, with the price hovering around $65,000 amid a battle between buyers and sellers. The RSI indicator suggests potential upside for Bitcoin’s price in the coming hours, indicating a bullish sentiment.
Additionally, seller fatigue in Bitcoin is indicating a potential price bottom, according to the Cryptoquant Insights Report. This signals that selling pressure may decrease, potentially leading to a more significant upward movement in the near future.
Meanwhile, the market has seen positive developments in other cryptocurrencies and related services. Kraken has expanded its crypto custody services to institutions in the UK and Australia, further strengthening its presence in the global market. This move indicates growing confidence from institutional investors in cryptocurrency custody services.
Amidst these positive trends, it is important to analyze the sentiment and key indicators in the cryptocurrency market to have a comprehensive understanding of its current state. Let’s delve into the data to gain further insights.
What is important
The current state of the cryptocurrency market reveals several important factors that contribute to its dynamics. Firstly, the positive sentiment observed in Bitcoin’s RSI suggests potential upside in the price, indicating an optimistic outlook. In addition, seller fatigue in Bitcoin suggests a potential price bottom, which may lead to a more significant upward movement.
Moreover, the expansion of crypto custody services by Kraken highlights the increasing institutional interest in cryptocurrency and signals the growing trust in these services.
As we analyze the data, it is crucial to consider both positive and negative sentiment keywords to gain a balanced understanding of the market. The sentiment analysis provides insights into market participants’ expectations and sentiments towards specific cryptocurrencies and events.
Examining the Fear and Greed Indicators is also essential, as it gives us a glimpse into the market’s emotional state. By understanding market sentiment and participants’ fear or greed, we can better gauge market dynamics and potential shifts.
Furthermore, monitoring important economic events and their potential impact on the market can help us anticipate market movements and analyze the overall market sentiment. These events, along with the analysis of market capitalizations, pricing trends, exchange volumes, and mining activities, contribute to a comprehensive understanding of the cryptocurrency market’s current state.
By examining these key aspects, we can form a well-rounded perspective on the cryptocurrency market.
Top 5 – Latest Headlines & Cryptocurrency News
- Bitcoin RSI points to more BTC price upside as a $65K battle rages– The battle for Bitcoin´s price continues with an upside potential of $65K.
- Cryptoquant Insights Report: Seller Fatigue Suggests Bitcoin Price Bottom– Seller fatigue suggests Bitcoin price bottom.
- Trader Says FLOKI ´Going Higher, Much Higher,´ Maps Path Forward for Bitcoin, Ethereum and Solana– Trader predicts a significant increase in Floki and provides insights on the future of Bitcoin, Ethereum, and Solana.
- Kraken Expands Crypto Custody Services to Institutions in UK and Australia– Kraken expands crypto custody services to institutions in the UK and Australia.
- Bitcoin Price Hints at Downside: Preparing for Potential Declines– Bitcoin price experiences a downside to 63k.
Factors Driving the Growth – Market Sentiment
Analyzing the positive and negative sentiment keywords provides valuable insights into the state of the cryptocurrency market. The most mentioned positive sentiment keywords in the last 24 hours include ‘bitcoin,’ ‘price,’ ‘shiba inu,’ ‘surge,’ and ‘cryptocurrency market.’ These keywords indicate a focus on Bitcoin’s price movement, the surge in popularity of Shiba Inu, and the overall performance of the cryptocurrency market.
On the other hand, the most mentioned negative sentiment keywords include ‘wazirx,’ ‘hack,’ ‘north korea,’ ‘cryptocurrency market,’ and ‘scam.’ These keywords highlight concerns related to security breaches, alleged involvement of North Korean hackers, and the impact of negative events on the cryptocurrency market.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 23 | bitcoin |
| 8 | price |
| 6 | shiba inu |
| 5 | surge |
| 4 | $1 million |
| 4 | cryptocurrency market |
| 4 | winklevoss twins |
| 3 | binance |
| 3 | cryptocurrency |
| 3 | ethereum |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 14 | wazirx |
| 7 | hack |
| 6 | bitcoin |
| 4 | ethereum |
| 4 | north korea |
| 3 | $230 million |
| 3 | cryptocurrency market |
| 3 | price |
| 3 | scam |
| 2 | $230m |
Crypto Investor Fear & Greed Index
Examining the Fear and Greed Indicators reveals the emotional state of the cryptocurrency market. The Fear and Greed Index values within the range of 50 to 74 suggest a sentiment of greed, whereas values above 75 indicate extreme greed. In the last 24 hours, the most prominent fear and greed indicators revolve around Bitcoin, Ethereum, and the overall cryptocurrency market.
The Fear and Greed Index can provide insights into potential market sentiment shifts and help identify periods of overextension or heightened caution among market participants.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-07-19 00:00:00 | 60pt | -1pt | Alternative.me |
| 2024-07-18 00:00:00 | 61pt | -8pt | Alternative.me |
| 2024-07-17 00:00:00 | 69pt | 0pt | Alternative.me |
| 2024-07-19 00:00:00 | 60pt | -1pt | Binance.com |
| 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 |
| 2024-07-19 00:00:00 | 60pt | -1pt | BitDegree.org |
| 2024-07-18 00:00:00 | 61pt | -8pt | BitDegree.org |
| 2024-07-17 00:00:00 | 69pt | 0pt | BitDegree.org |
| 2024-07-19 08:00:00 | 68pt | -2pt | BtcTools.io |
| 2024-07-19 00:00:00 | 70pt | 2pt | BtcTools.io |
| 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 | 0pt | BtcTools.io |
| 2024-07-19 00:00:00 | 60pt | -1pt | Coinstats.app |
| 2024-07-18 00:00:00 | 61pt | -8pt | Coinstats.app |
| 2024-07-17 00:00:00 | 69pt | 0pt | Coinstats.app |
| 2024-07-17 00:00:00 | 65pt | 0pt | LookIntoBitcoin.com |
| 2024-07-17 00:00:00 | 69pt | 4pt | LookIntoBitcoin.com |
Bitcoin: Active Addresses
Bitcoin Address Indicators illustrate the number of active addresses and the quantity of wallet addresses based on balance values. These indicators provide insights into the overall user activity and the distribution of Bitcoin wallet addresses across various balance levels. Analyzing these indicators helps measure the engagement and involvement of users in the Bitcoin network.
Furthermore, the Bitcoin Address Indicators can offer insights into trends and patterns, aiding in understanding the behavior of Bitcoin users and potential shifts in market dynamics.
| 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 | 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
Monitoring economic events is crucial for understanding the cryptocurrency market’s broader context. The impact of economic events on cryptocurrency performance can be significant. Assessing events such as CFTC speculative net positions, Baker Hughes rig count, and member speeches can help interpret market reactions and anticipate price movements.
By looking at key economic events and their potential implications, we can gain a deeper understanding of the driving forces behind cryptocurrency market movements and make more informed assessments of market trends.
| Date | Impact | Event |
|---|---|---|
| 2024-07-19 19:30:00 | Moderate | EUR – CFTC EUR speculative net positions |
| 2024-07-19 19:30:00 | Moderate | JPY – CFTC JPY speculative net positions |
| 2024-07-19 19:30:00 | Moderate | BRL – CFTC BRL speculative net positions |
| 2024-07-19 19:30:00 | Moderate | AUD – CFTC AUD speculative net positions |
| 2024-07-19 19:30:00 | Moderate | USD – CFTC S&P 500 speculative net positions |
| 2024-07-19 19:30:00 | Moderate | USD – CFTC Nasdaq 100 speculative net positions |
| 2024-07-19 19:30:00 | Moderate | USD – CFTC Gold speculative net positions |
| 2024-07-19 19:30:00 | Moderate | USD – CFTC Crude Oil speculative net positions |
| 2024-07-19 19:30:00 | Moderate | GBP – CFTC GBP speculative net positions |
| 2024-07-19 17:00:00 | Moderate | USD – U.S. Baker Hughes Total Rig Count |
| 2024-07-19 17:00:00 | Moderate | USD – U.S. Baker Hughes Oil Rig Count |
| 2024-07-19 16:45:00 | Moderate | USD – FOMC Member Bostic Speaks |
| 2024-07-19 14:40:00 | Moderate | USD – FOMC Member Williams Speaks |
| 2024-07-19 12:30:00 | Moderate | CAD – RMPI (MoM) (Jun) |
| 2024-07-19 12:30:00 | Moderate | CAD – Retail Sales (MoM) (May) |
| 2024-07-19 12:30:00 | Moderate | CAD – Core Retail Sales (MoM) (May) |
| 2024-07-19 06:00:00 | Moderate | EUR – German PPI (MoM) (Jun) |
| 2024-07-19 06:00:00 | Moderate | GBP – Retail Sales (MoM) (Jun) |
| 2024-07-19 06:00:00 | Moderate | GBP – Retail Sales (YoY) (Jun) |
| 2024-07-19 06:00:00 | Moderate | GBP – Core Retail Sales (MoM) (Jun) |
| 2024-07-19 06:00:00 | Moderate | GBP – Core Retail Sales (YoY) (Jun) |
| 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 |
Crypto Assets Prices
Analyzing prices in the cryptocurrency market is important to assess the recent trends and potential future movements. In the last 24 hours, Bitcoin has shown a slight upward trend, with a battle for a $65,000 price point. Ethereum has demonstrated a relatively stable price, while Binance Coin has experienced a slight decrease.
Understanding the price dynamics in the cryptocurrency market provides insights into market sentiment, the level of buyer and seller activity, as well as potential resistance and support levels.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-07-19 14:30:00 | Bitcoin | 65,555.31 | 1.77% | 2.44 | 3.42% | 4.19 | 1.77% |
| 2024-07-18 14:30:00 | Bitcoin | 64,394.77 | -0.69% | -0.98 | -2.56% | 2.42 | -1.23% |
| 2024-07-17 14:30:00 | Bitcoin | 64,842.01 | 1.91% | 1.58 | 0.97% | 3.65 | -0.55% |
| 2024-07-18 14:30:00 | Ethereum | 3,460.73 | 0.32% | 0.11 | -0.94% | 3.38 | 0.32% |
| 2024-07-17 14:30:00 | Ethereum | 3,449.58 | 1.41% | 1.05 | 0.20% | 3.05 | -1.49% |
| 2024-07-18 14:30:00 | Binance Coin | 573.20 | -0.31% | -0.49 | -1.51% | 2.71 | 0.00% |
| 2024-07-17 14:30:00 | Binance Coin | 575.00 | 1.23% | 1.02 | 1.93% | 2.71 | -3.26% |
Cryptocurrency Capitalization and Volume
Market capitalizations and volumes play a crucial role in assessing the overall size and liquidity of the cryptocurrency market. Bitcoin continues to lead in terms of market capitalization, followed by Ethereum. Monitoring changes in market capitalization and volume can provide insights into shifts in market sentiment, investor preferences, and potential liquidity changes in various cryptocurrencies.
Observing recent changes in market capitalizations and volumes helps assess market trends and identify potential areas of growth or consolidation.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-07-19 00:00:00 | Binance Coin | 88,003,321,839 | 0.45% | 751,726,271 | -6.33% |
| 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% |
| 2024-07-19 00:00:00 | Bitcoin | 1,261,456,293,182 | -0.36% | 25,976,148,879 | -22.47% |
| 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% |
| 2024-07-19 00:00:00 | Ethereum | 412,233,122,047 | 1.06% | 13,758,929,616 | -18.93% |
| 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% |
| 2024-07-19 00:00:00 | Tether | 113,573,131,359 | 0.32% | 45,083,284,480 | -6.08% |
| 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% |
Cryptocurrency Exchanges Volume and Variation
Exchanges are significant players in the cryptocurrency market, offering platforms for trading and accessing various cryptocurrencies. Analyzing the volume and variation of exchanges provides insights into market activity, liquidity, and investor preferences. Binance, Binance US, Bitfinex, Bybit, Coinbase, Crypto.com, Gate.io, Kraken, KuCoin, and OKX are among the key exchanges tracked.
Monitoring the volume and variation of exchanges helps understand market sentiment, trading activity, and potential shifts in liquidity among different cryptocurrencies.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-07-19 00:00:00 | Binance | 205,447 | -9.97% |
| 2024-07-18 00:00:00 | Binance | 228,204 | -18.92% |
| 2024-07-17 00:00:00 | Binance | 281,452 | 18.02% |
| 2024-07-19 00:00:00 | Binance US | 150 | -12.79% |
| 2024-07-18 00:00:00 | Binance US | 172 | -24.23% |
| 2024-07-17 00:00:00 | Binance US | 227 | 7.58% |
| 2024-07-19 00:00:00 | Bitfinex | 2,042 | 15.37% |
| 2024-07-18 00:00:00 | Bitfinex | 1,770 | -29.17% |
| 2024-07-17 00:00:00 | Bitfinex | 2,499 | -8.02% |
| 2024-07-19 00:00:00 | Bybit | 71,492 | -7.95% |
| 2024-07-18 00:00:00 | Bybit | 77,669 | -10.72% |
| 2024-07-17 00:00:00 | Bybit | 86,999 | 13.98% |
| 2024-07-19 00:00:00 | Coinbase | 27,495 | -24.08% |
| 2024-07-18 00:00:00 | Coinbase | 36,215 | -20.82% |
| 2024-07-17 00:00:00 | Coinbase | 45,740 | -4.95% |
| 2024-07-19 00:00:00 | Crypto.com | 38,016 | -5.03% |
| 2024-07-18 00:00:00 | Crypto.com | 40,031 | -21.75% |
| 2024-07-17 00:00:00 | Crypto.com | 51,158 | 16.24% |
| 2024-07-19 00:00:00 | Gate.io | 30,417 | -21.99% |
| 2024-07-18 00:00:00 | Gate.io | 38,991 | -22.52% |
| 2024-07-17 00:00:00 | Gate.io | 50,323 | 24.39% |
| 2024-07-19 00:00:00 | Kraken | 10,113 | -20.34% |
| 2024-07-18 00:00:00 | Kraken | 12,695 | -10.24% |
| 2024-07-17 00:00:00 | Kraken | 14,144 | -0.56% |
| 2024-07-19 00:00:00 | KuCoin | 10,447 | -11.69% |
| 2024-07-18 00:00:00 | KuCoin | 11,830 | -18.03% |
| 2024-07-17 00:00:00 | KuCoin | 14,432 | 11.63% |
| 2024-07-19 00:00:00 | OKX | 28,297 | -17.97% |
| 2024-07-18 00:00:00 | OKX | 34,495 | -28.87% |
| 2024-07-17 00:00:00 | OKX | 48,498 | 18.04% |
Mining – Blockchain Technology
Mining plays a crucial role in maintaining the security and operation of cryptocurrency networks. Analyzing mining difficulty, mined blocks, block rewards, and hash rate provides insights into the overall computational mining capacity and the health of the mining ecosystem. Understanding these metrics helps evaluate the network’s security, potential impacts on block rewards, and the overall state of the cryptocurrency mining industry.
Monitoring mining indicators provides valuable insights into trends, potential network disruptions, and factors influencing the supply of newly minted coins.
| Item | 2024-07-19 | 2024-07-18 | 2024-07-17 | 2024-07-16 | 2024-07-15 | 2024-07-14 | 2024-07-13 |
|---|---|---|---|---|---|---|---|
| Difficulty | 82.05T | 79.50T | 79.50T | 79.50T | 83.68T | 83.68T | 83.68T |
| Difficulty Variation | 3.21% | 0.00% | 0.00% | -5.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 852.81K | 852.68K | 852.52K | 852.37K | 852.22K | 852.05K | 851.90K |
| 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 | 526.74B | 628.78B | 581.65B | 596.90B | 664.26B | 605.37B | 596.90B |
| Hash Rate GB Variation | -16.23% | 8.10% | -2.56% | -10.14% | 9.73% | 1.42% | 7.87% |
Conclusion
In conclusion, the cryptocurrency market has shown a neutral to trending up trend in the last 24 hours, with potential upside for Bitcoin’s price amid a battle around the $65,000 mark. Seller fatigue indicates a potential price bottom, contributing to the positive sentiment in the market. Expansion of crypto custody services by Kraken reflects growing institutional trust in the industry. Monitoring positive and negative sentiment keywords, fear and greed indicators, Bitcoin address indicators, economic events, and changes in prices, capitalizations, volumes, exchanges, and mining activities provides a comprehensive understanding of the current market state.
Based on these insights and the overall positive sentiment in the market, it is essential to be mindful of potential risks and carefully assess investment decisions according to individual risk tolerance and market conditions.
So What
The current state of the cryptocurrency market offers opportunities and risks. Positive developments in Bitcoin’s price, seller fatigue, and expanding crypto custody services reflect optimism and growing institutional interest. However, it is crucial to consider potential negative factors such as hacking incidents, geopolitical concerns, and overall market volatility.
Investors should proceed with caution, diversify portfolios, and conduct thorough research before making investment decisions. Staying informed about market trends and developments allows for a more well-rounded analysis and informed decision-making.
What next?
Looking ahead, it is essential to monitor the ongoing market trends and upcoming economic events. Factors such as regulatory decisions, technological advancements, geopolitical developments, and market sentiment can significantly impact the cryptocurrency market. A dynamic and adaptable approach based on evolving market conditions and data-driven analysis is vital for navigating the cryptocurrency landscape.
As the market continues to evolve, staying informed, conducting due diligence, and seeking advice from credible sources can help investors make informed decisions and adapt strategies in response to changing conditions.
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.
