πŸ“ƒ Jun 12, 2024 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Trending Up

The cryptocurrency market is showing positive signs of upward momentum in the next 8 hours. Based on the analysis of various data tables and market indicators, there is evidence to suggest a bullish trend. However, it is important to note that market trends can change quickly, and caution should always be exercised when making investment decisions.

What is important

The current state of the cryptocurrency market is characterized by positive sentiment and increasing market capitalization. Bitcoin and Ethereum, the two major cryptocurrencies, have remained stable with slight price variations. The positive keywords and news coverage indicate growing interest and investment in various cryptocurrencies. Economic events and mining activities also play significant roles in influencing market trends.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Β΄AsiaΒ΄s MicroStrategyΒ΄ Metaplanet Buys Another Β₯250 Million Worth of Bitcoin– AsiaΒ΄s MicroStrategy Metaplanet has purchased an additional $250 million worth of Bitcoin, further increasing its investment in the cryptocurrency market.
  2. XRP Whales Make $28 Million Withdrawal From Binance: Bullish Sign?– XRP whales withdraw $28 million from Binance, indicating a bullish sentiment.
  3. JapanΒ΄s Metaplanet Bags More Bitcoin Sending Total Holdings To $9.6M– MetaPlanet, a Japanese company, has increased its total Bitcoin holdings to 9.6 million.
  4. Metaplanet Shares Surge After its Third Million-Dollar Bitcoin Purchase– MetaPlanetΒ΄s shares surged after their third million-dollar Bitcoin purchase.
  5. Nigerian Minister: Binance Fails to Pay Taxes on Over $20 Billion Turnover– Nigerian Minister accuses Binance of failing to pay taxes on over $20 billion turnover.

Factors DrivingΒ the Growth – Market Sentiment

The analysis of positive keywords reveals a positive sentiment in the market. Bitcoin, Ethereum, and Ripple are among the most mentioned cryptocurrencies, indicating their popularity and potential for growth. Additionally, news regarding major players such as MetaPlanet, Binance, and Polygon further supports the optimistic outlook.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
25bitcoin
11ethereum
8ripple
6$1 billion
6polygon
4crypto.com
4cryptocurrency
4metaplanet
3breakout
3buy

Negative Terms – Sentiment Analysis

OccurrencesKeyword
10bitcoin
7cryptocurrency market
4eth
3australia
3bitcoin mining
3bitcoin price
3crypto romance scams
3ethereum
3lykke
3price

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators suggest that the market sentiment is currently leaning towards greed. With values in the ‘greed’ range, investors are showing confidence and optimism. However, it is important to monitor these indicators as they can fluctuate and impact market sentiment.

DateValueVariationSource
2024-06-12 00:00:0072pt-2ptAlternative.me
2024-06-12 00:00:0074pt0ptAlternative.me
2024-06-11 00:00:0072pt0ptAlternative.me
2024-06-11 00:00:0074pt2ptAlternative.me
2024-06-10 00:00:0072pt-3ptAlternative.me
2024-06-10 00:00:0075pt0ptAlternative.me
2024-06-12 00:00:0074pt2ptBitDegree.org
2024-06-11 00:00:0072pt-3ptBitDegree.org
2024-06-10 00:00:0075pt0ptBitDegree.org
2024-06-12 00:00:0072pt1ptBtcTools.io
2024-06-11 16:00:0071pt-1ptBtcTools.io
2024-06-11 00:00:0072pt3ptBtcTools.io
2024-06-10 16:00:0069pt-3ptBtcTools.io
2024-06-10 08:00:0072pt-1ptBtcTools.io
2024-06-10 00:00:0073pt1ptBtcTools.io
2024-06-09 16:00:0072pt0ptBtcTools.io
2024-06-12 00:00:0072pt-2ptCoinstats.app
2024-06-12 00:00:0074pt0ptCoinstats.app
2024-06-11 00:00:0074pt2ptCoinstats.app
2024-06-10 00:00:0072pt-3ptCoinstats.app
2024-06-10 00:00:0075pt0ptCoinstats.app
2024-06-12 00:00:0072pt-2ptLookIntoBitcoin.com
2024-06-12 00:00:0074pt0ptLookIntoBitcoin.com
2024-06-11 00:00:0072pt0ptLookIntoBitcoin.com
2024-06-11 00:00:0074pt2ptLookIntoBitcoin.com
2024-06-10 00:00:0072pt-3ptLookIntoBitcoin.com
2024-06-10 00:00:0075pt0ptLookIntoBitcoin.com

Bitcoin: Active Addresses

The Bitcoin Address Indicators show a consistent number of active addresses and a positive trend in wallet balances, indicating ongoing activity and engagement in the Bitcoin network. However, variations in the number of zero-balance addresses and addresses with specific balance thresholds may suggest fluctuations in user behavior.

DateAddressesVariationIndicatorSource
2024-06-12 00:00:001,297,338,4040.00%Total Addressesbitaps.com
2024-06-12 00:00:001,244,236,0720.00%Zero Balance Addressesbitaps.com
2024-06-12 00:00:00714,2610.97%Bitcoin Active Addressesbtc.com
2024-06-12 00:00:00540,7610.00%Addresses with over 0bitaps.com
2024-06-12 00:00:00219,3750.00%Addresses with over 0.0000001bitaps.com
2024-06-12 00:00:003,458,1200.00%Addresses with over 0.000001bitaps.com
2024-06-12 00:00:0010,332,0050.00%Addresses with over 0.00001bitaps.com
2024-06-12 00:00:0013,822,4930.01%Addresses with over 0.0001bitaps.com
2024-06-12 00:00:0012,087,702-0.01%Addresses with over 0.001bitaps.com
2024-06-12 00:00:008,075,576-0.01%Addresses with over 0.01bitaps.com
2024-06-12 00:00:003,554,7670.00%Addresses with over 0.1bitaps.com
2024-06-12 00:00:00858,7990.00%Addresses with over 1bitaps.com
2024-06-12 00:00:00136,885-0.01%Addresses with over 10bitaps.com
2024-06-12 00:00:0013,7730.01%Addresses with over 100bitaps.com
2024-06-12 00:00:001,9710.00%Addresses with over 1,000bitaps.com
2024-06-12 00:00:001020.00%Addresses with over 10,000bitaps.com
2024-06-12 00:00:0030.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The Economic Events table highlights key events in the global financial market that can impact the cryptocurrency market. These events include economic reports, central bank meetings, and policy announcements. Traders and investors should closely monitor these events as they can influence market sentiment and cryptocurrency prices.

DateImpactEvent
2024-06-13 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-06-13 12:30:00HighPPI-Final Demand Ex-Food & Energy – M/M
2024-06-13 12:30:00HighPPI-Final Demand Ex-Food, Energy & Trade Services – M/M
2024-06-13 12:30:00HighJobless Claims Initial Claims – Level
2024-06-13 12:30:00HighPPI-Final Demand PPI-FD – M/M
2024-06-13 12:30:00HighJobless Claims 4-Week Moving Average
2024-06-13 12:30:00HighPPI-Final Demand Ex-Food, Energy & Trade Services – Y/Y
2024-06-13 12:30:00HighPPI-Final Demand PPI-FD – Y/Y
2024-06-13 12:30:00HighPPI-Final Demand Ex-Food & Energy – Y/Y
2024-06-13 12:30:00HighJobless Claims Initial Claims – Change
2024-06-12 23:50:00ModerateJPY – BSI Large Manufacturing Conditions (Q2)
2024-06-12 23:01:00ModerateGBP – RICS House Price Balance (May)
2024-06-12 22:45:00ModerateNZD – Electronic Card Retail Sales (MoM) (May)
2024-06-12 19:30:00ModerateEUR – German Buba President Nagel Speaks
2024-06-12 19:15:00ModerateCAD – BoC Gov Macklem Speaks
2024-06-12 18:30:00HighUSD – FOMC Press Conference
2024-06-12 18:00:00HighUSD – Fed Interest Rate Decision
2024-06-12 18:00:00HighUSD – FOMC Statement
2024-06-12 18:00:00HighUSD – FOMC Economic Projections
2024-06-12 18:00:00ModerateUSD – Interest Rate Projection – Longer (Q2)
2024-06-12 18:00:00ModerateUSD – Interest Rate Projection – Current (Q2)
2024-06-12 18:00:00ModerateUSD – Interest Rate Projection – 3rd Yr
2024-06-12 18:00:00ModerateUSD – Interest Rate Projection – 2nd Yr (Q2)
2024-06-12 18:00:00ModerateUSD – Interest Rate Projection – 1st Yr (Q2)
2024-06-12 18:00:00ModerateUSD – Federal Budget Balance (May)
2024-06-12 18:00:00ModerateTreasury Statement Balance
2024-06-12 16:00:00ModerateUSD – WASDE Report
2024-06-12 14:30:00ModerateUSD – Cushing Crude Oil Inventories
2024-06-12 14:30:00HighUSD – Crude Oil Inventories
2024-06-12 14:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-06-12 14:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-06-12 14:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-06-12 14:05:00ModerateEUR – German Buba Mauderer Speaks
2024-06-12 14:00:00ModerateEUR – ECB Supervisory Board Member Tuominen Speaks
2024-06-12 13:45:00ModerateEUR – ECB McCaul Speaks
2024-06-12 13:00:00ModerateEUR – ECBΒ΄s De Guindos Speaks
2024-06-12 12:30:00HighUSD – CPI (MoM) (May)
2024-06-12 12:30:00HighUSD – CPI (YoY) (May)
2024-06-12 12:30:00ModerateUSD – Core CPI (YoY) (May)
2024-06-12 12:30:00HighUSD – Core CPI (MoM) (May)
2024-06-12 12:30:00HighCPI Ex-Food & Energy- M/M
2024-06-12 12:30:00HighCPI CPI – Y/Y
2024-06-12 12:30:00HighCPI CPI – M/M
2024-06-12 12:30:00HighCPI Ex-Food & Energy- Y/Y
2024-06-12 12:00:00ModerateINR – CPI (YoY) (May)
2024-06-12 12:00:00ModerateGBP – NIESR Monthly GDP Tracker
2024-06-12 11:30:00ModerateEUR – German Buba Vice President Buch Speaks
2024-06-12 10:00:00ModerateEUR – Eurogroup Meetings
2024-06-12 09:30:00ModerateEUR – ECBΒ΄s Schnabel Speaks
2024-06-12 09:30:00ModerateEUR – German 10-Year Bund Auction
2024-06-12 09:15:00ModerateEUR – ECB Supervisory Board Member Tuominen Speaks
2024-06-12 08:00:00ModerateUSD – IEA Monthly Report
2024-06-12 07:00:00ModerateEUR – German Buba Balz Speaks
2024-06-12 06:00:00ModerateEUR – German CPI (YoY) (May)
2024-06-12 06:00:00HighEUR – German CPI (MoM) (May)
2024-06-12 06:00:00ModerateGBP – Trade Balance Non-EU (Apr)
2024-06-12 06:00:00ModerateGBP – Trade Balance (Apr)
2024-06-12 06:00:00ModerateGBP – Monthly GDP 3M/3M Change (Apr)
2024-06-12 06:00:00ModerateGBP – Manufacturing Production (MoM) (Apr)
2024-06-12 06:00:00ModerateGBP – Industrial Production (MoM) (Apr)
2024-06-12 06:00:00HighGBP – GDP (MoM) (Apr)
2024-06-12 01:30:00ModerateCNY – PPI (YoY) (May)
2024-06-12 01:30:00ModerateCNY – CPI (YoY) (May)
2024-06-12 01:30:00ModerateCNY – CPI (MoM) (May)
2024-06-11 20:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-06-11 17:00:00HighUSD – 10-Year Note Auction
2024-06-11 16:45:00ModerateEUR – ECBΒ΄s Elderson Speaks
2024-06-11 16:00:00ModerateUSD – EIA Short-Term Energy Outlook
2024-06-11 12:30:00ModerateCAD – Building Permits (MoM) (Apr)
2024-06-11 12:00:00ModerateBRL – CPI (YoY) (May)
2024-06-11 11:00:00ModerateEUR – ECBΒ΄s Lane Speaks
2024-06-11 11:00:00ModerateUSD – OPEC Monthly Report
2024-06-11 07:30:00ModerateEUR – German Buba Vice President Buch Speaks
2024-06-11 06:00:00ModerateGBP – Unemployment Rate (Apr)
2024-06-11 06:00:00ModerateGBP – Employment Change 3M/3M (MoM) (Apr)
2024-06-11 06:00:00ModerateGBP – Claimant Count Change (May)
2024-06-11 06:00:00ModerateGBP – Average Earnings Index +Bonus (Apr)
2024-06-11 01:30:00ModerateAUD – NAB Business Confidence (May)

Crypto Assets Prices

The Prices table provides insights into the price variations and volatility of major cryptocurrencies. Bitcoin and Ethereum have shown relatively stable prices with slight variations. It is crucial to consider the 24-hour variation and volatility when assessing the market’s short-term movements.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-06-12 00:15:00Bitcoin67,413.29-3.15%-2.88-2.84%5.263.78%
2024-06-11 00:15:00Bitcoin69,534.460.00%-0.04-0.42%1.480.43%
2024-06-10 00:15:00Bitcoin69,535.840.34%0.390.53%1.050.45%
2024-06-12 00:15:00Ethereum3,504.18-4.75%-4.33-3.71%6.945.00%
2024-06-11 00:15:00Ethereum3,670.50-0.82%-0.62-1.15%1.950.44%
2024-06-10 00:15:00Ethereum3,700.590.54%0.520.67%1.500.15%
2024-06-12 00:15:00Binance Coin604.60-3.44%-3.034.00%5.57-4.46%
2024-06-11 00:15:00Binance Coin625.40-7.44%-7.03-5.68%10.037.86%
2024-06-10 00:15:00Binance Coin671.90-1.67%-1.35-1.39%2.16-0.34%

CryptocurrencyΒ Capitalization and Volume

The Market Capitalizations and Volumes table indicates a positive trend in the total market capitalization of major cryptocurrencies. The volume of trades has also witnessed an upward trend, reflecting increased market activity. However, it is important to monitor these metrics continuously, as market conditions can change rapidly.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-06-12 00:00:00Binance Coin92,483,600,937-3.63%2,187,230,640-5.19%
2024-06-11 00:00:00Binance Coin95,971,068,300-7.36%2,306,921,595183.24%
2024-06-10 00:00:00Binance Coin103,593,929,502-1.35%814,478,252-16.09%
2024-06-12 00:00:00Bitcoin1,327,665,028,180-3.05%38,517,098,10795.10%
2024-06-11 00:00:00Bitcoin1,369,378,888,544-0.23%19,742,726,46792.61%
2024-06-10 00:00:00Bitcoin1,372,556,186,7050.48%10,250,002,938-18.03%
2024-06-12 00:00:00Ethereum420,251,663,394-4.60%19,600,343,375121.61%
2024-06-11 00:00:00Ethereum440,506,095,152-1.07%8,844,346,31940.36%
2024-06-10 00:00:00Ethereum445,276,601,4300.65%6,301,031,437-15.88%
2024-06-12 00:00:00Tether112,470,603,6850.04%62,171,566,387181.71%
2024-06-11 00:00:00Tether112,426,710,109-0.02%22,069,161,39163.72%
2024-06-10 00:00:00Tether112,447,581,3460.00%13,479,521,011-34.87%

Cryptocurrency Exchanges Volume and Variation

The Exchanges table reveals the trading volumes and variations on major cryptocurrency exchanges. Binance remains a popular exchange with significant trading volumes, while other exchanges like Bitfinex and Bybit have also witnessed notable activities. It is essential to keep track of exchange data to understand market dynamics.

DateExchangeVolumeVariation
2024-06-12 00:00:00Binance326,20179.11%
2024-06-11 00:00:00Binance182,12749.05%
2024-06-10 00:00:00Binance122,190-24.45%
2024-06-12 00:00:00Binance US226107.34%
2024-06-11 00:00:00Binance US10947.30%
2024-06-10 00:00:00Binance US74-21.28%
2024-06-12 00:00:00Bitfinex4,099191.12%
2024-06-11 00:00:00Bitfinex1,40817.73%
2024-06-10 00:00:00Bitfinex1,19619.36%
2024-06-12 00:00:00Bybit91,02091.08%
2024-06-11 00:00:00Bybit47,63561.58%
2024-06-10 00:00:00Bybit29,480-19.41%
2024-06-12 00:00:00Coinbase46,293128.04%
2024-06-11 00:00:00Coinbase20,30088.47%
2024-06-10 00:00:00Coinbase10,771-30.39%
2024-06-12 00:00:00Crypto.com22,542114.22%
2024-06-11 00:00:00Crypto.com10,52363.43%
2024-06-10 00:00:00Crypto.com6,439-11.76%
2024-06-12 00:00:00Gate.io58,94282.49%
2024-06-11 00:00:00Gate.io32,29820.19%
2024-06-10 00:00:00Gate.io26,873-10.23%
2024-06-12 00:00:00Kraken13,61946.69%
2024-06-11 00:00:00Kraken9,284137.87%
2024-06-10 00:00:00Kraken3,903-8.74%
2024-06-12 00:00:00KuCoin13,79288.16%
2024-06-11 00:00:00KuCoin7,33033.88%
2024-06-10 00:00:00KuCoin5,475-18.28%
2024-06-12 00:00:00OKX53,064123.93%
2024-06-11 00:00:00OKX23,69724.60%
2024-06-10 00:00:00OKX19,019-29.10%

Mining – Blockchain Technology

The Mining table highlights the mining difficulty, blocks, block rewards, and hash rate in the cryptocurrency market. The variations in mining difficulty and hash rate can influence the mining activity and network security. Additionally, the number of mined blocks and block rewards impact the supply of cryptocurrencies.

Item2024-06-122024-06-112024-06-102024-06-092024-06-082024-06-072024-06-06
Difficulty83.72T83.72T83.72T83.72T83.72T84.38T84.38T
Difficulty Variation0.00%0.00%0.00%0.00%-0.79%0.00%0.00%
Blocks847.54K847.42K847.28K847.12K846.95K846.81K846.68K
Blocks Variation0.01%0.02%0.02%0.02%0.02%0.02%0.01%
Reward BTC3.133.133.133.133.133.133.13
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB516.04B549.33B607.59B699.15B590.94B142.62B37.75B
Hash Rate GB Variation-6.06%-9.59%-13.10%18.31%314.36%277.78%-89.02%

Conclusion

In conclusion, the cryptocurrency market is currently experiencing a positive trend with increasing market capitalization and trading volumes. The presence of major players and positive news coverage adds to the overall optimism. However, as with any investment, it is important to stay informed, evaluate risks, and exercise caution.

So What

The current state of the cryptocurrency market has practical implications for investors and traders. With a positive trend and growing interest in cryptocurrencies, it may be an opportune time for individuals seeking investment opportunities. However, it is crucial to conduct thorough research, diversify portfolios, and closely monitor market conditions to make informed decisions.

What next?

Looking ahead, it is important to remain vigilant and observe further market developments. Factors such as regulatory changes, economic events, and technological advancements may impact the cryptocurrency market. Additionally, market sentiment and investor behavior will continue to influence price movements. It is advisable to stay informed, follow reputable sources, and adapt investment strategies accordingly.

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.

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