Crypto Market Analysis & Trend: Trending Up
The cryptocurrency market is experiencing a bullish trend, with several positive indicators pointing towards potential growth in the next 8 hours. Evidence from the positive sentiment keywords, rising market capitalizations, and increasing trading volumes suggests an optimistic outlook for major cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin. Additionally, the overall market sentiment is positive, with news of successful projects, bullish forecasts, and the end of regulatory investigations. These factors provide a high level of confidence in expecting a positive trend in the cryptocurrency market for the next few hours.
What is important
In the current state of the cryptocurrency market, several key points are essential to understanding its dynamics. Firstly, positive news and sentiment surrounding altcoins like Shiba Inu, Cardano, and Dogecoin are overshadowing those of Bitcoin and Ethereum. There is an increasing interest in these alternative cryptocurrencies due to their market performance and potential. Secondly, regulatory investigations have concluded, as seen with the Securities and Exchange Commission (SEC) ending its probe into Ethereum 2.0 tokens and ConsenSys. This development brings clarity and reduces uncertainty in the market, which is crucial for investor confidence. Lastly, there have been significant developments in the mining sector, with mining difficulty and hash rates fluctuating, which could impact the overall supply and demand dynamics of cryptocurrencies.
Top 5 – Latest Headlines & Cryptocurrency News
- Altcoins: Shiba Inu, Cardano, & DOGE To Outrun Bitcoin, ETH, XRP, Here´s Why– Altcoins like Shiba Inu, Cardano, and Doge are performing better than Bitcoin, Ethereum, and XRP in the cryptocurrency market.
- Dogecoin Sees Biggest Liquidations Since 2021, $60 Million in Longs Flushed Out– Dogecoin experiences significant liquidations, with $60 million in long positions being liquidated.
- Dogecoin Faces Downside Risk To $0.072 As Analyst Cites A Descending Triangle Formation– Dogecoin faces downside risk to 0.072 level.
- Dogecoin, Cardano ‘Very Bullish’ Based on MVRV: Santiment– The article discusses the bullish sentiment of Dogecoin and Cardano based on MVRV data from Santiment.
- Kraken Exposes $3 Million Exploit By Research Team, Launches Criminal Investigation– Kraken exposes $3 million exploit.
Factors Driving the Growth – Market Sentiment
The ‘Positive Keywords’ and ‘Negative Keywords’ tables provide insights into the sentiment surrounding the cryptocurrency market. The most mentioned positive sentiment keywords include altcoins like Shiba Inu and Cardano, indicating positive market performance and investor interest. On the other hand, negative sentiment keywords like Bitcoin, Kraken, and India highlight some challenges and potential concerns in the market. These keywords demonstrate the dynamic nature of the cryptocurrency market and the varied sentiments driving its movements.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 27 | binance |
| 18 | cryptocurrency market |
| 13 | bitcoin |
| 12 | ethereum |
| 11 | cryptocurrency |
| 7 | xrp |
| 6 | dogecoin |
| 6 | solana |
| 5 | bullish |
| 5 | market |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 12 | bitcoin |
| 8 | kraken |
| 6 | binance |
| 6 | cryptocurrency market |
| 4 | dogecoin |
| 4 | india |
| 3 | $3 million |
| 3 | $60,000 |
| 3 | fine |
| 3 | north dakota |
Crypto Investor Fear & Greed Index
The ‘Fear and Greed Indicators’ table shows a mixed sentiment in the cryptocurrency market, with fear and greed levels shifting for different sources. While some indicators suggest extreme fear, others indicate levels of greed or even extreme greed. This inconsistency in sentiment reflects the ongoing volatility and uncertainty in the market. Investors should closely monitor these indicators to gain insights into the overall market sentiment and make informed decisions.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-06-20 00:00:00 | 60pt | -4pt | Alternative.me |
| 2024-06-19 00:00:00 | 64pt | -10pt | Alternative.me |
| 2024-06-18 00:00:00 | 74pt | 0pt | Alternative.me |
| 2024-06-20 00:00:00 | 60pt | -4pt | Binance.com |
| 2024-06-19 00:00:00 | 64pt | -10pt | Binance.com |
| 2024-06-19 00:00:00 | 74pt | 0pt | Binance.com |
| 2024-06-18 00:00:00 | 74pt | 0pt | Binance.com |
| 2024-06-20 00:00:00 | 60pt | -4pt | BitDegree.org |
| 2024-06-19 00:00:00 | 64pt | -10pt | BitDegree.org |
| 2024-06-18 00:00:00 | 74pt | 0pt | BitDegree.org |
| 2024-06-20 00:00:00 | 56pt | -1pt | BtcTools.io |
| 2024-06-19 08:00:00 | 57pt | 1pt | BtcTools.io |
| 2024-06-19 00:00:00 | 56pt | -2pt | BtcTools.io |
| 2024-06-18 16:00:00 | 58pt | -4pt | BtcTools.io |
| 2024-06-18 00:00:00 | 62pt | -3pt | BtcTools.io |
| 2024-06-17 16:00:00 | 65pt | 1pt | BtcTools.io |
| 2024-06-17 08:00:00 | 64pt | 0pt | BtcTools.io |
| 2024-06-20 00:00:00 | 60pt | -4pt | Coinstats.app |
| 2024-06-19 00:00:00 | 64pt | -10pt | Coinstats.app |
| 2024-06-18 00:00:00 | 74pt | 0pt | Coinstats.app |
| 2024-06-20 00:00:00 | 60pt | -4pt | LookIntoBitcoin.com |
| 2024-06-20 00:00:00 | 64pt | 0pt | LookIntoBitcoin.com |
| 2024-06-19 00:00:00 | 64pt | -10pt | LookIntoBitcoin.com |
| 2024-06-19 00:00:00 | 74pt | 0pt | LookIntoBitcoin.com |
| 2024-06-18 00:00:00 | 71pt | 0pt | LookIntoBitcoin.com |
| 2024-06-18 00:00:00 | 74pt | 3pt | LookIntoBitcoin.com |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table provides valuable information about the active addresses and wallet balances in the Bitcoin network. It shows variations in the number of addresses and their balances over time, indicating the activity and participation of users in the Bitcoin ecosystem. These indicators can be used to analyze the adoption and usage patterns of Bitcoin, which are important factors in understanding its market dynamics.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-06-19 04:00:00 | 1,299,118,326 | 0.00% | Total Addresses | bitaps.com |
| 2024-06-19 04:00:00 | 747,327 | 5.86% | Bitcoin Active Addresses | btc.com |
| 2024-06-19 04:00:00 | 540,764 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-06-19 04:00:00 | 219,377 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-06-19 04:00:00 | 3,468,139 | -0.07% | Addresses with over 0.000001 | bitaps.com |
| 2024-06-19 04:00:00 | 10,365,336 | 0.01% | Addresses with over 0.00001 | bitaps.com |
| 2024-06-19 04:00:00 | 13,795,283 | -0.09% | Addresses with over 0.0001 | bitaps.com |
| 2024-06-19 04:00:00 | 11,895,154 | -0.08% | Addresses with over 0.001 | bitaps.com |
| 2024-06-19 04:00:00 | 8,045,235 | -0.03% | Addresses with over 0.01 | bitaps.com |
| 2024-06-19 04:00:00 | 3,541,148 | -0.01% | Addresses with over 0.1 | bitaps.com |
| 2024-06-19 04:00:00 | 858,213 | 0.01% | Addresses with over 1 | bitaps.com |
| 2024-06-19 04:00:00 | 136,973 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-06-19 04:00:00 | 13,789 | 0.00% | Addresses with over 100 | bitaps.com |
| 2024-06-19 04:00:00 | 1,961 | -0.05% | Addresses with over 1,000 | bitaps.com |
| 2024-06-19 04:00:00 | 103 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-06-19 04:00:00 | 3 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The ‘Economic Events’ table highlights significant economic indicators and events that can impact the cryptocurrency market. From reports on housing sales and manufacturing indices to central bank decisions and economic data releases, these events are closely monitored by market participants. Traders and investors should pay attention to these events as they can provide valuable insights into the overall economic health and potential market trends affecting cryptocurrencies.
| Date | Impact | Event |
|---|---|---|
| 2024-06-21 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2024-06-21 14:00:00 | High | Existing Home Sales Year over Year |
| 2024-06-21 14:00:00 | High | Existing Home Sales Month over Month |
| 2024-06-21 14:00:00 | High | Existing Home Sales Annual Rate |
| 2024-06-21 13:45:00 | Moderate | PMI Composite Flash Services Index |
| 2024-06-21 13:45:00 | Moderate | PMI Composite Flash Manufacturing Index |
| 2024-06-21 13:45:00 | Moderate | PMI Composite Flash Composite Index |
| 2024-06-20 23:30:00 | Moderate | JPY – National Core CPI (YoY) (May) |
| 2024-06-20 20:30:00 | Moderate | USD – Fed´s Balance Sheet |
| 2024-06-20 17:00:00 | Moderate | USD – 5-Year TIPS Auction |
| 2024-06-20 15:00:00 | Moderate | USD – Cushing Crude Oil Inventories |
| 2024-06-20 15:00:00 | High | USD – Crude Oil Inventories |
| 2024-06-20 15:00:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 2024-06-20 15:00:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 2024-06-20 15:00:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 2024-06-20 14:30:00 | Moderate | USD – Atlanta Fed GDPNow (Q2) |
| 2024-06-20 12:30:00 | Moderate | CAD – New Housing Price Index (MoM) (May) |
| 2024-06-20 12:30:00 | Moderate | USD – Philly Fed Employment (Jun) |
| 2024-06-20 12:30:00 | High | USD – Philadelphia Fed Manufacturing Index (Jun) |
| 2024-06-20 12:30:00 | High | USD – Initial Jobless Claims |
| 2024-06-20 12:30:00 | Moderate | USD – Housing Starts (MoM) (May) |
| 2024-06-20 12:30:00 | Moderate | USD – Housing Starts (May) |
| 2024-06-20 12:30:00 | Moderate | USD – Current Account (Q1) |
| 2024-06-20 12:30:00 | Moderate | USD – Continuing Jobless Claims |
| 2024-06-20 12:30:00 | Moderate | USD – Building Permits (May) |
| 2024-06-20 12:30:00 | High | Jobless Claims 4-Week Moving Average |
| 2024-06-20 12:30:00 | High | Jobless Claims Initial Claims – Change |
| 2024-06-20 12:30:00 | High | Jobless Claims Initial Claims – Level |
| 2024-06-20 12:30:00 | High | Housing Starts and Permits Permits – Annual Rate |
| 2024-06-20 12:30:00 | High | Housing Starts and Permits Starts – Annual Rate |
| 2024-06-20 12:30:00 | Moderate | Philadelphia Fed Manufacturing Index Index |
| 2024-06-20 12:00:00 | Moderate | GBP – BOE Inflation Letter |
| 2024-06-20 11:00:00 | Moderate | GBP – BoE MPC Meeting Minutes |
| 2024-06-20 11:00:00 | High | GBP – BoE Interest Rate Decision (Jun) |
| 2024-06-20 11:00:00 | Moderate | GBP – BoE MPC vote unchanged (Jun) |
| 2024-06-20 11:00:00 | Moderate | GBP – BoE MPC vote hike (Jun) |
| 2024-06-20 11:00:00 | Moderate | GBP – BoE MPC vote cut (Jun) |
| 2024-06-20 10:00:00 | Moderate | EUR – Eurogroup Meetings |
| 2024-06-20 08:30:00 | Moderate | CHF – SNB Press Conference |
| 2024-06-20 08:00:00 | Moderate | EUR – ECB Economic Bulletin |
| 2024-06-20 07:30:00 | Moderate | CHF – SNB Monetary Policy Assessment |
| 2024-06-20 07:30:00 | High | CHF – SNB Interest Rate Decision (Q2) |
| 2024-06-20 06:00:00 | Moderate | EUR – German PPI (MoM) (May) |
| 2024-06-20 01:15:00 | Moderate | CNY – PBoC Loan Prime Rate |
| 2024-06-20 01:15:00 | Moderate | CNY – China Loan Prime Rate 5Y (Jun) |
| 2024-06-19 22:45:00 | High | NZD – GDP (QoQ) (Q1) |
| 2024-06-19 21:30:00 | Moderate | BRL – Interest Rate Decision |
| 2024-06-19 21:00:00 | Moderate | BRL – Interest Rate Decision |
| 2024-06-19 14:00:00 | Moderate | Housing Market Index Index |
Crypto Assets Prices
The ‘Prices’ table provides an overview of the price variations and volatility in the major cryptocurrencies. It shows the recent price movements and fluctuations of Bitcoin, Ethereum, and Binance Coin, along with their respective variations and volatility in the last 24 hours. These price trends can be used to analyze the market sentiment and identify potential trading opportunities.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-06-20 07:41:00 | Bitcoin | 65,889.62 | 0.80% | 0.86 | 1.34% | 2.01 | -0.63% |
| 2024-06-19 07:41:00 | Bitcoin | 65,360.26 | -0.42% | -0.48 | 0.33% | 2.64 | -1.59% |
| 2024-06-18 07:41:00 | Bitcoin | 65,635.99 | -0.84% | -0.81 | -0.69% | 4.23 | 2.62% |
| 2024-06-20 07:41:00 | Ethereum | 3,608.60 | 1.75% | 1.81 | -1.14% | 2.96 | -3.39% |
| 2024-06-19 07:41:00 | Ethereum | 3,545.60 | 2.80% | 2.95 | 5.95% | 6.35 | -0.29% |
| 2024-06-18 07:41:00 | Ethereum | 3,446.20 | -3.13% | -3.00 | -2.78% | 6.64 | 3.39% |
| 2024-06-20 07:41:00 | Binance Coin | 605.30 | 0.13% | 0.25 | -1.62% | 2.54 | -2.84% |
| 2024-06-19 07:41:00 | Binance Coin | 604.50 | 1.90% | 1.87 | 3.64% | 5.37 | 0.53% |
| 2024-06-18 07:41:00 | Binance Coin | 593.00 | -1.75% | -1.77 | -1.31% | 4.84 | 2.97% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table reflects the total market capitalization and trading volume of major cryptocurrencies. It illustrates the variations in capitalization and trading volume, indicating the overall market activity and liquidity. These metrics are essential for assessing the size and potential of the cryptocurrency market.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-06-20 00:00:00 | Binance Coin | 91,968,780,053 | 1.76% | 961,892,880 | -46.09% |
| 2024-06-19 00:00:00 | Binance Coin | 90,374,753,661 | -2.68% | 1,784,396,277 | 79.57% |
| 2024-06-18 00:00:00 | Binance Coin | 92,863,624,576 | -1.04% | 993,711,134 | 98.77% |
| 2024-06-20 00:00:00 | Bitcoin | 1,278,699,763,341 | -0.28% | 21,740,435,656 | -47.54% |
| 2024-06-19 00:00:00 | Bitcoin | 1,282,295,865,979 | -2.06% | 41,441,805,332 | 39.46% |
| 2024-06-18 00:00:00 | Bitcoin | 1,309,329,377,373 | -0.34% | 29,716,032,774 | 141.93% |
| 2024-06-20 00:00:00 | Ethereum | 434,492,651,441 | 2.25% | 15,063,167,753 | -30.39% |
| 2024-06-19 00:00:00 | Ethereum | 424,951,660,073 | 0.90% | 21,638,104,251 | 25.57% |
| 2024-06-18 00:00:00 | Ethereum | 421,162,133,590 | -3.13% | 17,231,419,290 | 111.01% |
| 2024-06-20 00:00:00 | Tether | 112,574,268,895 | 0.10% | 33,714,400,680 | -48.54% |
| 2024-06-19 00:00:00 | Tether | 112,466,787,566 | -0.02% | 65,513,834,764 | 34.11% |
| 2024-06-18 00:00:00 | Tether | 112,484,967,919 | -0.02% | 48,850,734,393 | 112.06% |
Cryptocurrency Exchanges Volume and Variation
The ‘Exchanges’ table displays the trading volume variations across different cryptocurrency exchanges. It highlights the activity and popularity of exchanges such as Binance, Bitfinex, and Kraken. By analyzing these variations, market participants can gauge the liquidity and trading preferences of investors.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-06-20 00:00:00 | Binance | 201,768 | -42.02% |
| 2024-06-19 00:00:00 | Binance | 347,993 | 34.06% |
| 2024-06-18 00:00:00 | Binance | 259,576 | 130.00% |
| 2024-06-20 00:00:00 | Binance US | 109 | -54.20% |
| 2024-06-19 00:00:00 | Binance US | 238 | 59.73% |
| 2024-06-18 00:00:00 | Binance US | 149 | 166.07% |
| 2024-06-20 00:00:00 | Bitfinex | 2,001 | -47.31% |
| 2024-06-19 00:00:00 | Bitfinex | 3,798 | 81.81% |
| 2024-06-18 00:00:00 | Bitfinex | 2,089 | 21.52% |
| 2024-06-20 00:00:00 | Bybit | 61,714 | -40.90% |
| 2024-06-19 00:00:00 | Bybit | 104,424 | 32.86% |
| 2024-06-18 00:00:00 | Bybit | 78,599 | 119.67% |
| 2024-06-20 00:00:00 | Coinbase | 27,680 | -44.06% |
| 2024-06-19 00:00:00 | Coinbase | 49,478 | 26.90% |
| 2024-06-18 00:00:00 | Coinbase | 38,990 | 207.71% |
| 2024-06-20 00:00:00 | Crypto.com | 20,476 | -39.67% |
| 2024-06-19 00:00:00 | Crypto.com | 33,942 | 31.31% |
| 2024-06-18 00:00:00 | Crypto.com | 25,848 | 175.65% |
| 2024-06-20 00:00:00 | Gate.io | 34,512 | -44.34% |
| 2024-06-19 00:00:00 | Gate.io | 62,001 | 47.03% |
| 2024-06-18 00:00:00 | Gate.io | 42,170 | 77.54% |
| 2024-06-20 00:00:00 | Kraken | 9,553 | -36.37% |
| 2024-06-19 00:00:00 | Kraken | 15,013 | 46.98% |
| 2024-06-18 00:00:00 | Kraken | 10,214 | 223.23% |
| 2024-06-20 00:00:00 | KuCoin | 9,880 | -40.79% |
| 2024-06-19 00:00:00 | KuCoin | 16,686 | 28.45% |
| 2024-06-18 00:00:00 | KuCoin | 12,990 | 101.61% |
| 2024-06-20 00:00:00 | OKX | 29,653 | -46.67% |
| 2024-06-19 00:00:00 | OKX | 55,604 | 56.75% |
| 2024-06-18 00:00:00 | OKX | 35,474 | 125.49% |
Mining – Blockchain Technology
The ‘Mining’ table provides insights into the mining difficulty, blocks mined, block rewards, and hash rates of major cryptocurrencies. It indicates the computational capacity and dynamics of the mining ecosystem. Changes in mining difficulty and hash rates can impact the security and supply of cryptocurrencies, which can have implications for the overall market.
| Item | 2024-06-20 | 2024-06-19 | 2024-06-18 | 2024-06-17 | 2024-06-16 | 2024-06-15 | 2024-06-14 |
|---|---|---|---|---|---|---|---|
| Difficulty | 83.72T | 83.72T | 83.72T | 83.72T | 83.72T | 83.72T | 83.72T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 848.68K | 848.55K | 848.39K | 848.25K | 848.09K | 847.96K | 847.83K |
| 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 | 466.10B | 590.94B | 570.14B | 678.34B | 141.49B | 274.66B | 528.52B |
| Hash Rate GB Variation | -21.13% | 3.65% | -15.95% | 379.41% | -48.48% | -48.03% | -6.62% |
Conclusion
In conclusion, the current state of the cryptocurrency market suggests a bullish trend in the short term. Positive sentiment, supported by the performance of altcoins and the end of regulatory investigations, fuels investor optimism. Mining indicators and economic events further contribute to the market dynamics. However, it is crucial to closely monitor market developments and indicators to make informed investment decisions.
So What
The current state of the cryptocurrency market has practical implications for market participants. Investors should consider diversifying their portfolios by including promising altcoins like Shiba Inu, Cardano, and Dogecoin. They should also closely monitor regulatory developments and the performance of Bitcoin and Ethereum, which can greatly influence the overall market sentiment.
What next?
Looking ahead, further adoption and regulatory clarity will continue to shape the cryptocurrency market. It is expected that altcoins will gain more attention and market share, driven by positive sentiment and technological advancements. Investors should pay attention to upcoming economic events, mining dynamics, and the performance of major exchanges for potential trading opportunities and market trends.
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.
