Crypto Market Analysis & Trend: Neutral/Trending Up
In the last 24 hours, the cryptocurrency market has shown a neutral/trending up trend. Bitcoin, Ethereum, and Solana are expected to rally according to investor Chris Burniske, indicating positive sentiment towards these cryptocurrencies. Additionally, Polygon has ranked second to Ethereum for tokenized assets, further highlighting the positive outlook for this blockchain platform.
However, there have been some negative indicators as well. WazirX, a cryptocurrency exchange, experienced a security breach and lost approximately $230 million. This incident has raised concerns among users and highlights the importance of robust security measures in the crypto industry. Additionally, the withdrawal of significant amounts of Dogecoin and Shiba Inu by whales from Robinhood has created uncertainty and negative sentiment within the market.
Considering the evidence, while there are both positive and negative factors influencing the cryptocurrency market, the overall sentiment leans towards a neutral/trending up trend for the next 8 hours.
What is important
Several key factors are important to understanding the current state of the cryptocurrency market. Firstly, investor sentiment towards Bitcoin, Ethereum, and Solana is positive, fueled by expectations of a rally. This positive sentiment is further supported by Polygon’s rise as a prominent player in the tokenized asset space. However, recent security breaches and large withdrawals by whales in cryptocurrencies like Dogecoin and Shiba Inu highlight the need for enhanced security measures and investor caution.
Tracking market capitalizations and volumes is crucial in evaluating the overall health and performance of cryptocurrencies. It provides insights into investor interest and trading activity. Additionally, monitoring mining indicators such as difficulty, block rewards, and hash rate helps determine the computational mining capacity and its impact on the network.
It is also important to keep an eye on economic events, as they can significantly influence the cryptocurrency market. Events like Eurogroup Meetings, German Retail Sales, and PBoC Loan Prime Rate provide insights into the broader financial landscape, affecting investor sentiment and market dynamics.
Analyzing price movements, both positive and negative, provides valuable information for traders and investors. Identifying important support and resistance levels, as well as monitoring price variations and volatility, aids in making informed decisions.
The performance of major exchanges and their volume variations are essential in understanding liquidity and market sentiment. Tracking exchanges like Binance, Coinbase, and Kraken helps gauge investor activity and market trends.
In summary, monitoring cryptocurrency market trends, capitalizations, volumes, mining indicators, economic events, and price movements is crucial to gaining a comprehensive understanding of the overall market.
Top 5 – Latest Headlines & Cryptocurrency News
- WazirX Hack: X Users Raise Alarm Over Scam Email– Users of WazirX, a cryptocurrency exchange, have raised an alarm over a scam email.
- Bitcoin, Ethereum, Solana and Crypto Markets Look Ready To ´Send´ As Stars Align, According to Investor Chris Burniske– Bitcoin, Ethereum, Solana, and crypto markets are expected to rally, according to investor Chris Burniske.
- Dogecoin And Shiba Inu Whales Withdraw Millions From Robinhood – What´s Going On?– Dogecoin and Shiba Inu whales are withdrawing millions from Robinhood, causing concern in the cryptocurrency market.
- Crypto Guru That Predicted BTC Recovery Now Betting On This New AI Crypto to Challenge Cardano– A crypto guru predicts a new AI crypto to challenge Cardano.
- Polygon ranks second to Ethereum for tokenized assets – Will it help MATIC?– Polygon ranks second to Ethereum for tokenized assets. Will it help Matic?
Factors Driving the Growth – Market Sentiment
Analysis of the provided positive and negative keywords indicates mixed sentiment in the last 24 hours. Bitcoin, Ethereum, and rally are among the positive keywords, reflecting the expectation of price increases. On the other hand, negative keywords such as WazirX, cryptocurrency exchange, hack, and security breach highlight concerns over security incidents and potential vulnerabilities within the market.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 12 | bitcoin |
| 5 | ethereum |
| 5 | rally |
| 3 | analyst |
| 3 | crypto |
| 3 | dogecoin |
| 3 | price |
| 2 | all-time high |
| 2 | avalanche price |
| 2 | bitcoin price |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 7 | wazirx |
| 4 | cryptocurrency exchange |
| 3 | $230 million |
| 2 | $11 million |
| 2 | bitcoin |
| 2 | crypto atms |
| 2 | hack |
| 2 | security breach |
| 2 | south korean exchanges |
| 2 | trading |
Crypto Investor Fear & Greed Index
The Fear and Greed Indicators in the provided dataset indicate a predominantly neutral sentiment in the last 24 hours. While some indicators show slight movements towards fear and extreme fear, the overall range suggests a balanced sentiment among investors and market participants. It is important to monitor the Fear and Greed Indicators regularly to identify shifts in sentiment that may impact market dynamics.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-07-21 00:00:00 | 74pt | 0pt | Alternative.me |
| 2024-07-20 00:00:00 | 74pt | 14pt | Alternative.me |
| 2024-07-19 00:00:00 | 60pt | 0pt | Alternative.me |
| 2024-07-21 00:00:00 | 74pt | 0pt | Binance.com |
| 2024-07-20 00:00:00 | 74pt | 14pt | Binance.com |
| 2024-07-19 00:00:00 | 60pt | 0pt | Binance.com |
| 2024-07-21 00:00:00 | 74pt | 0pt | BitDegree.org |
| 2024-07-20 00:00:00 | 74pt | 14pt | BitDegree.org |
| 2024-07-19 00:00:00 | 60pt | 0pt | BitDegree.org |
| 2024-07-21 16:00:00 | 75pt | 1pt | BtcTools.io |
| 2024-07-21 08:00:00 | 74pt | 2pt | BtcTools.io |
| 2024-07-21 00:00:00 | 72pt | 0pt | BtcTools.io |
| 2024-07-20 08:00:00 | 72pt | 1pt | BtcTools.io |
| 2024-07-20 00:00:00 | 71pt | 4pt | BtcTools.io |
| 2024-07-19 16:00:00 | 67pt | -1pt | BtcTools.io |
| 2024-07-19 08:00:00 | 68pt | -2pt | BtcTools.io |
| 2024-07-19 00:00:00 | 70pt | 0pt | BtcTools.io |
| 2024-07-21 00:00:00 | 74pt | 0pt | Coinstats.app |
| 2024-07-20 00:00:00 | 74pt | 14pt | Coinstats.app |
| 2024-07-19 00:00:00 | 60pt | 0pt | Coinstats.app |
Bitcoin: Active Addresses
The Bitcoin Address Indicators provide insights into the activity and distribution of Bitcoin addresses. The total number of addresses, especially those with non-zero balances, indicates the level of participation and interest in Bitcoin. Meanwhile, active addresses and variations in address quantities based on balance values offer insights into user engagement and trends in wallet activities. These indicators can help evaluate the vibrancy and adoption of Bitcoin as a digital currency.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-07-21 23:00:00 | 1,308,169,533 | 0.00% | Total Addresses | bitaps.com |
| 2024-07-21 23:00:00 | 1,255,992,988 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-07-21 23:00:00 | 628,744 | -3.61% | Bitcoin Active Addresses | btc.com |
| 2024-07-21 23:00:00 | 540,550 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-07-21 23:00:00 | 219,380 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-07-21 23:00:00 | 3,542,044 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-07-21 23:00:00 | 10,449,959 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-07-21 23:00:00 | 13,193,114 | 0.00% | Addresses with over 0.0001 | bitaps.com |
| 2024-07-21 23:00:00 | 11,661,709 | 0.00% | Addresses with over 0.001 | bitaps.com |
| 2024-07-21 23:00:00 | 8,011,791 | 0.00% | Addresses with over 0.01 | bitaps.com |
| 2024-07-21 23:00:00 | 3,547,171 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-07-21 23:00:00 | 858,001 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-07-21 23:00:00 | 136,970 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-07-21 23:00:00 | 13,790 | -0.01% | Addresses with over 100 | bitaps.com |
| 2024-07-21 23:00:00 | 1,963 | 0.05% | Addresses with over 1,000 | bitaps.com |
| 2024-07-21 23:00:00 | 99 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-07-21 23:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The Economic Events table provides information about key financial events influencing the cryptocurrency market. Eurogroup Meetings, German Retail Sales, and PBoC Loan Prime Rate are significant indicators impacting investor sentiment and market behavior. Monitoring these events helps anticipate potential market movements and prepare for possible shifts in the cryptocurrency landscape.
| Date | Impact | Event |
|---|---|---|
| 2024-07-22 10:00:00 | Moderate | EUR – Eurogroup Meetings |
| 2024-07-22 06:00:00 | Moderate | EUR – German Retail Sales (MoM) (May) |
| 2024-07-22 01:15:00 | Moderate | CNY – PBoC Loan Prime Rate |
| 2024-07-22 01:15:00 | Moderate | CNY – China Loan Prime Rate 5Y (Jul) |
Crypto Assets Prices
The Prices table offers valuable information on the price variations, trends, and volatilities of major cryptocurrencies. The dataset includes Bitcoin, Ethereum, and Binance Coin, highlighting their recent price changes and volatility. Analyzing these price movements can assist traders and investors in identifying potential opportunities and risks within the cryptocurrency market.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-07-21 23:34:00 | Bitcoin | 68,053.02 | 1.29% | 1.36 | 0.59% | 3.94 | 1.86% |
| 2024-07-20 23:34:00 | Bitcoin | 67,176.01 | 0.69% | 0.77 | -3.48% | 2.08 | -4.38% |
| 2024-07-19 23:34:00 | Bitcoin | 66,711.25 | 4.04% | 4.26 | 4.37% | 6.45 | 3.46% |
| 2024-07-20 23:34:00 | Ethereum | 3,520.40 | 0.40% | 0.48 | -1.85% | 1.71 | -3.12% |
| 2024-07-19 23:34:00 | Ethereum | 3,506.39 | 2.00% | 2.33 | 0.88% | 4.83 | 1.19% |
| 2024-07-20 23:34:00 | Binance Coin | 593.60 | -0.03% | 0.03 | -3.78% | 1.91 | -4.06% |
| 2024-07-19 23:34:00 | Binance Coin | 593.80 | 3.55% | 3.81 | 3.14% | 5.96 | 2.76% |
Cryptocurrency Capitalization and Volume
The Market Capitalizations and Volumes data provide insights into the size and trading activity of major cryptocurrencies. The total market capitalization and volume data of Bitcoin, Ethereum, and other cryptocurrencies reflect the overall investor interest and liquidity in the market. Monitoring these indicators helps understand the market dynamics and the popularity of specific cryptocurrencies among investors and traders.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-07-21 00:00:00 | Binance Coin | 91,272,400,296 | -0.06% | 590,387,198 | -50.01% |
| 2024-07-20 00:00:00 | Binance Coin | 91,326,026,618 | 3.78% | 1,181,070,997 | 57.11% |
| 2024-07-19 00:00:00 | Binance Coin | 88,003,321,839 | 0.45% | 751,726,271 | -6.33% |
| 2024-07-21 00:00:00 | Bitcoin | 1,324,535,655,331 | 0.64% | 17,579,869,865 | -52.49% |
| 2024-07-20 00:00:00 | Bitcoin | 1,316,147,398,344 | 4.34% | 37,005,831,142 | 42.46% |
| 2024-07-19 00:00:00 | Bitcoin | 1,261,456,293,182 | -0.36% | 25,976,148,879 | -22.47% |
| 2024-07-21 00:00:00 | Ethereum | 422,963,751,880 | 0.37% | 9,594,826,612 | -46.05% |
| 2024-07-20 00:00:00 | Ethereum | 421,392,010,127 | 2.22% | 17,785,072,994 | 29.26% |
| 2024-07-19 00:00:00 | Ethereum | 412,233,122,047 | 1.06% | 13,758,929,616 | -18.93% |
| 2024-07-21 00:00:00 | Tether | 113,868,800,280 | 0.05% | 33,186,182,332 | -43.73% |
| 2024-07-20 00:00:00 | Tether | 113,814,131,113 | 0.21% | 58,979,273,604 | 30.82% |
| 2024-07-19 00:00:00 | Tether | 113,573,131,359 | 0.32% | 45,083,284,480 | -6.08% |
Cryptocurrency Exchanges Volume and Variation
The Exchanges table provides an overview of the volume variations in major cryptocurrency exchanges. Changes in trading volumes on exchanges like Binance, Binance US, and Bitfinex can indicate shifts in market activity and investor sentiment. Tracking these variations helps understand the liquidity and popularity of different exchanges within the cryptocurrency market.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-07-21 00:00:00 | Binance | 135,459 | -42.79% |
| 2024-07-20 00:00:00 | Binance | 236,781 | 15.25% |
| 2024-07-19 00:00:00 | Binance | 205,447 | -9.97% |
| 2024-07-21 00:00:00 | Binance US | 109 | -39.44% |
| 2024-07-20 00:00:00 | Binance US | 180 | 20.00% |
| 2024-07-19 00:00:00 | Binance US | 150 | -12.79% |
| 2024-07-21 00:00:00 | Bitfinex | 1,469 | -51.71% |
| 2024-07-20 00:00:00 | Bitfinex | 3,042 | 48.97% |
| 2024-07-19 00:00:00 | Bitfinex | 2,042 | 15.37% |
| 2024-07-21 00:00:00 | Bybit | 44,548 | -42.49% |
| 2024-07-20 00:00:00 | Bybit | 77,461 | 8.35% |
| 2024-07-19 00:00:00 | Bybit | 71,492 | -7.95% |
| 2024-07-21 00:00:00 | Coinbase | 20,704 | -48.50% |
| 2024-07-20 00:00:00 | Coinbase | 40,203 | 46.22% |
| 2024-07-19 00:00:00 | Coinbase | 27,495 | -24.08% |
| 2024-07-21 00:00:00 | Crypto.com | 19,873 | -52.56% |
| 2024-07-20 00:00:00 | Crypto.com | 41,890 | 10.19% |
| 2024-07-19 00:00:00 | Crypto.com | 38,016 | -5.03% |
| 2024-07-21 00:00:00 | Gate.io | 24,638 | -39.29% |
| 2024-07-20 00:00:00 | Gate.io | 40,584 | 33.43% |
| 2024-07-19 00:00:00 | Gate.io | 30,417 | -21.99% |
| 2024-07-21 00:00:00 | Kraken | 5,122 | -57.17% |
| 2024-07-20 00:00:00 | Kraken | 11,959 | 18.25% |
| 2024-07-19 00:00:00 | Kraken | 10,113 | -20.34% |
| 2024-07-21 00:00:00 | KuCoin | 7,919 | -35.79% |
| 2024-07-20 00:00:00 | KuCoin | 12,333 | 18.05% |
| 2024-07-19 00:00:00 | KuCoin | 10,447 | -11.69% |
| 2024-07-21 00:00:00 | OKX | 22,064 | -36.85% |
| 2024-07-20 00:00:00 | OKX | 34,941 | 23.48% |
| 2024-07-19 00:00:00 | OKX | 28,297 | -17.97% |
Mining – Blockchain Technology
The Mining data highlights important indicators such as mining difficulty, mined blocks, block rewards, and hash rate. Monitoring the mining difficulty and hash rate provides insights into the computational capacity and security of blockchain networks. Additionally, analyzing the variation in mined blocks and block rewards helps assess the overall health and activity of the mining ecosystem within the cryptocurrency market.
| Item | 2024-07-21 | 2024-07-20 | 2024-07-19 | 2024-07-18 | 2024-07-17 | 2024-07-16 | 2024-07-15 |
|---|---|---|---|---|---|---|---|
| Difficulty | 82.05T | 82.05T | 82.05T | 79.50T | 79.50T | 79.50T | 83.68T |
| Difficulty Variation | 0.00% | 0.00% | 3.21% | 0.00% | 0.00% | -5.00% | 0.00% |
| Blocks | 853.12K | 852.96K | 852.81K | 852.68K | 852.52K | 852.37K | 852.22K |
| 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 | 669.95B | 604.45B | 526.74B | 628.78B | 581.65B | 596.90B | 664.26B |
| Hash Rate GB Variation | 10.84% | 14.75% | -16.23% | 8.10% | -2.56% | -10.14% | 9.73% |
Conclusion
In conclusion, the cryptocurrency market exhibits a neutral/trending up trend in the last 24 hours, driven by positive factors such as expected rallies in Bitcoin, Ethereum, and Solana. However, incidents like the security breach at WazirX and large withdrawals by whales contribute to uncertainty and negative sentiment. It is vital for investors and traders to remain vigilant and prioritize security measures.
Tracking market capitalizations, volumes, economic events, and price movements assists in understanding the market health and sentiment. Additionally, monitoring mining indicators and the performance of major exchanges provides valuable insights into market dynamics. Overall, staying informed and monitoring key indicators helps make informed decisions within the ever-evolving cryptocurrency landscape.
So What
The current state of the cryptocurrency market has practical implications for investors and traders. It is crucial to maintain a balanced approach, considering both positive and negative factors. By staying informed and updated on market trends, individuals can make well-informed investment decisions and manage potential risks effectively. Implementing robust security measures and conducting thorough research before engaging with cryptocurrency platforms is paramount to protect assets and minimize exposure to vulnerabilities.
What next?
Looking ahead, it is important to closely monitor market developments, particularly with respect to security incidents and regulatory changes. Additionally, tracking key indicators like market capitalizations, price movements, and economic events can provide insights into the future direction of the cryptocurrency market. Continued vigilance and adaptability are essential for navigating the evolving landscape of cryptocurrencies and maximizing investment opportunities.
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.
