πŸ“ƒ Mar 08, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

Over the past 24 hours, the cryptocurrency market has exhibited a neutral to trending up sentiment. Based on the analysis of various data tables and indicators, there is evidence to suggest that the market is showing positive signs for the next 8 hours with a moderate level of confidence. It is important to note that cryptocurrency markets are highly volatile and subject to rapid changes, and this analysis is based on the most recent available data as of the reference date.

What is important

The current state of the cryptocurrency market is influenced by various factors. Positive keywords in the news highlight the performance and adoption of major cryptocurrencies such as Bitcoin, Ethereum, and Solana, along with the holdings of Bitcoin by influential companies like Tesla and SpaceX. On the other hand, negative news focuses on concerns regarding specific exchanges, investor exodus, and ransomware attacks. It is crucial to consider these aspects when assessing the overall sentiment and market dynamics.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Solana flips Ethereum on this front, thanks to the memecoins– Solana surpasses Ethereum in the memecoin market.
  2. Bitcoin: Elon Musk’s Tesla & SpaceX Holds $1.3B BTC, A Price Rally Ahead?– Tesla and SpaceX hold $1.3 billion worth of Bitcoin (BTC), leading to a price rally.
  3. Solana faces investor exodus; emerging AI crypto aims to surpass Quant by the next Bitcoin halving– Solana faces investor exodus as emerging AI crypto aims to surpass Quant by the next Bitcoin halving.
  4. Tesla and SpaceX’s Bitcoin holdings unveiled by Arkham Intelligence– ARKHAM Intelligence reveals Tesla and SpaceX’s Bitcoin holdings.
  5. Tesla and SpaceX Bitcoin Wallets Identified: Elon Musk’s Firms Hold $1.3 Billion in BTC– Tesla and SpaceX hold Bitcoin wallets worth $1.3 billion.

Factors DrivingΒ the Growth – Market Sentiment

The analysis of the ‘Positive Keywords’ and ‘Negative Keywords’ tables reveals the most frequently mentioned keywords in the news. Positive keywords include Bitcoin, Solana, Ethereum, and the performance of major exchanges. This suggests a significant interest in these cryptocurrencies and their market activity. Conversely, negative keywords such as Binance and security-related terms indicate concerns related to certain exchanges and cybersecurity incidents. It is essential to closely monitor news developments around these keywords to stay informed about the market sentiment.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
47bitcoin
27cryptocurrency market
23solana
18ethereum
17binance
12shiba inu
11cryptocurrency
10price
8cryptocurrencies
8surge

Negative Terms – Sentiment Analysis

OccurrencesKeyword
5binance
5south korea
3bitcoin
3cryptocurrency market
3interpol
3sec
3shapeshift
3worldcoin
2binance women’s day campaign
2coinbase

Crypto Investor Fear & Greed Index

The ‘Fear and Greed Indicators’ table provides insights into the overall sentiment in the cryptocurrency market. Based on the available dataset, there is insufficient data to make a conclusive analysis. The table lacks data representing extreme fear or greed, which hampers a comprehensive understanding of the current market sentiment. Therefore, it is important to consult additional sources and indicators to gauge market sentiment more accurately.

DateValueVariationSource
2024-03-08 00:00:0081pt-1ptAlternative.me
2024-03-07 00:00:0082pt7ptAlternative.me
2024-03-06 00:00:0075pt-15ptAlternative.me
2024-03-06 00:00:0090pt0ptAlternative.me
2024-03-08 00:00:0082pt7ptBitDegree.org
2024-03-07 00:00:0075pt-15ptBitDegree.org
2024-03-06 00:00:0090pt0ptBitDegree.org
2024-03-08 08:00:0084pt-1ptBtcTools.io
2024-03-08 00:00:0085pt1ptBtcTools.io
2024-03-07 16:00:0084pt1ptBtcTools.io
2024-03-07 08:00:0083pt-2ptBtcTools.io
2024-03-07 00:00:0085pt1ptBtcTools.io
2024-03-06 16:00:0084pt-2ptBtcTools.io
2024-03-06 08:00:0086pt-4ptBtcTools.io
2024-03-06 00:00:0090pt-3ptBtcTools.io
2024-03-05 16:00:0093pt0ptBtcTools.io
2024-03-08 00:00:0081pt-1ptCoinstats.app
2024-03-07 00:00:0082pt7ptCoinstats.app
2024-03-06 00:00:0075pt-15ptCoinstats.app
2024-03-06 00:00:0090pt0ptCoinstats.app
2024-03-08 00:00:0081pt-1ptLookIntoBitcoin.com
2024-03-08 00:00:0082pt0ptLookIntoBitcoin.com
2024-03-07 00:00:0075pt0ptLookIntoBitcoin.com
2024-03-07 00:00:0082pt7ptLookIntoBitcoin.com
2024-03-06 00:00:0075pt-15ptLookIntoBitcoin.com
2024-03-06 00:00:0090pt0ptLookIntoBitcoin.com

Bitcoin: Active Addresses

The ‘Bitcoin Address Indicators’ table reflects the activity and address balances in the Bitcoin ecosystem. It highlights the total number of active addresses, variations in addresses with different balance thresholds, and the overall trend in wallet addresses. These indicators offer insights into the adoption and usage of Bitcoin, providing a broader perspective on the cryptocurrency’s network activity.

DateAddressesVariationIndicatorSource
2024-03-08 08:00:001,250,107,8650.00%Total Addressesbitaps.com
2024-03-08 08:00:00923,420-2.61%Bitcoin Active Addressesbtc.com
2024-03-08 08:00:00540,5830.00%Addresses with over 0bitaps.com
2024-03-08 08:00:00219,3660.00%Addresses with over 0.0000001bitaps.com
2024-03-08 08:00:002,893,8170.00%Addresses with over 0.000001bitaps.com
2024-03-08 08:00:009,715,7010.00%Addresses with over 0.00001bitaps.com
2024-03-08 08:00:0013,299,8370.00%Addresses with over 0.0001bitaps.com
2024-03-08 08:00:0012,072,4650.00%Addresses with over 0.001bitaps.com
2024-03-08 08:00:008,057,1270.00%Addresses with over 0.01bitaps.com
2024-03-08 08:00:003,552,0360.00%Addresses with over 0.1bitaps.com
2024-03-08 08:00:00865,2290.00%Addresses with over 1bitaps.com
2024-03-08 08:00:00138,9090.00%Addresses with over 10bitaps.com
2024-03-08 08:00:0013,8820.00%Addresses with over 100bitaps.com
2024-03-08 08:00:001,9090.00%Addresses with over 1,000bitaps.com
2024-03-08 08:00:001070.00%Addresses with over 10,000bitaps.com
2024-03-08 08:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table showcases important economic markers that could impact the cryptocurrency market. These events include employment data, interest rate decisions, and reports from regulatory bodies. It is crucial to monitor these events and their potential impact on market conditions and investor sentiment.

DateImpactEvent
2024-03-08 20:30:00ModerateEUR – CFTC EUR speculative net positions
2024-03-08 20:30:00ModerateJPY – CFTC JPY speculative net positions
2024-03-08 20:30:00ModerateBRL – CFTC BRL speculative net positions
2024-03-08 20:30:00ModerateAUD – CFTC AUD speculative net positions
2024-03-08 20:30:00ModerateUSD – CFTC S&P 500 speculative net positions
2024-03-08 20:30:00ModerateUSD – CFTC Nasdaq 100 speculative net positions
2024-03-08 20:30:00ModerateUSD – CFTC Gold speculative net positions
2024-03-08 20:30:00ModerateUSD – CFTC Crude Oil speculative net positions
2024-03-08 20:30:00ModerateGBP – CFTC GBP speculative net positions
2024-03-08 18:00:00ModerateUSD – U.S. Baker Hughes Total Rig Count
2024-03-08 18:00:00ModerateUSD – U.S. Baker Hughes Oil Rig Count
2024-03-08 17:00:00ModerateUSD – WASDE Report
2024-03-08 13:30:00ModerateCAD – Employment Change (Feb)
2024-03-08 13:30:00HighUSD – Unemployment Rate (Feb)
2024-03-08 13:30:00ModerateUSD – U6 Unemployment Rate (Feb)
2024-03-08 13:30:00ModerateUSD – Private Nonfarm Payrolls (Feb)
2024-03-08 13:30:00ModerateUSD – Participation Rate (Feb)
2024-03-08 13:30:00HighUSD – Nonfarm Payrolls (Feb)
2024-03-08 13:30:00HighUSD – Average Hourly Earnings (MoM) (Feb)
2024-03-08 13:30:00ModerateUSD – Average Hourly Earnings (YoY) (YoY) (Feb)
2024-03-08 13:30:00HighEmployment Situation Average Workweek
2024-03-08 13:30:00HighEmployment Situation Nonfarm Payrolls – M/M
2024-03-08 13:30:00HighEmployment Situation Participation Rate
2024-03-08 13:30:00HighEmployment Situation Unemployment Rate
2024-03-08 13:30:00HighEmployment Situation Manufacturing Payrolls – M/M
2024-03-08 13:30:00HighEmployment Situation Average Hourly Earnings – Y/Y
2024-03-08 13:30:00HighEmployment Situation Average Hourly Earnings – M/M
2024-03-08 13:30:00HighEmployment Situation Private Payrolls – M/M
2024-03-08 12:00:00ModerateUSD – FOMC Member Williams Speaks
2024-03-08 10:00:00ModerateEUR – GDP (YoY) (Q4)
2024-03-08 10:00:00ModerateEUR – GDP (QoQ) (Q4)
2024-03-08 07:00:00ModerateEUR – German PPI (MoM) (Jan)
2024-03-08 07:00:00ModerateEUR – German Industrial Production (MoM) (Jan)
2024-03-08 02:00:00HighUSD – U.S. President Biden Speaks
2024-03-07 23:50:00ModerateJPY – Current Account n.s.a. (Jan)
2024-03-07 23:50:00ModerateJPY – Adjusted Current Account (Jan)
2024-03-07 23:30:00ModerateJPY – Household Spending (MoM) (Jan)
2024-03-07 23:30:00ModerateJPY – Household Spending (YoY) (Jan)
2024-03-07 21:30:00ModerateUSD – FedΒ΄s Balance Sheet
2024-03-07 20:00:00ModerateUSD – Consumer Credit (Jan)
2024-03-07 16:30:00ModerateUSD – FOMC Member Mester Speaks
2024-03-07 16:30:00ModerateUSD – Atlanta Fed GDPNow (Q1)
2024-03-07 15:30:00ModerateEIA Natural Gas Report Week over Week
2024-03-07 15:00:00ModerateEUR – ECB President Lagarde Speaks
2024-03-07 15:00:00ModerateEUR – German Buba Balz Speaks
2024-03-07 15:00:00HighUSD – Fed Chair Powell Testifies
2024-03-07 13:45:00HighEUR – ECB Press Conference
2024-03-07 13:30:00ModerateCAD – Building Permits (MoM) (Jan)
2024-03-07 13:30:00ModerateUSD – Unit Labor Costs (QoQ) (Q4)
2024-03-07 13:30:00ModerateUSD – Trade Balance (Jan)
2024-03-07 13:30:00ModerateUSD – Nonfarm Productivity (QoQ) (Q4)
2024-03-07 13:30:00HighUSD – Initial Jobless Claims
2024-03-07 13:30:00ModerateUSD – Imports
2024-03-07 13:30:00ModerateUSD – Exports
2024-03-07 13:30:00ModerateUSD – Continuing Jobless Claims
2024-03-07 13:30:00HighJobless Claims 4-Week Moving Average
2024-03-07 13:30:00ModerateProductivity and Costs Nonfarm Productivity – Annual Rate
2024-03-07 13:30:00HighInternational Trade in Goods and Services Balance
2024-03-07 13:30:00ModerateProductivity and Costs Unit Labor Costs – Annual Rate
2024-03-07 13:30:00HighJobless Claims Initial Claims – Level
2024-03-07 13:30:00HighJobless Claims Initial Claims – Change
2024-03-07 13:15:00HighEUR – ECB Interest Rate Decision (Mar)
2024-03-07 13:15:00ModerateEUR – ECB Monetary Policy Statement
2024-03-07 13:15:00ModerateEUR – ECB Marginal Lending Facility
2024-03-07 13:15:00HighEUR – Deposit Facility Rate (Mar)
2024-03-07 13:00:00ModerateGBP – Mortgage Rate (GBP)
2024-03-07 12:00:00ModerateGBP – Mortgage Rate (GBP)
2024-03-07 11:30:00ModerateBRL – Gross Debt-to-GDP ratio (MoM) (Jan)
2024-03-07 11:00:00ModerateGBP – Mortgage Rate (GBP)
2024-03-07 10:00:00ModerateGBP – Mortgage Rate (GBP)

Crypto Assets Prices

The ‘Prices’ table reveals the recent price variations and volatilities of major cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. Notably, Bitcoin has shown relatively stable price variations, while Ethereum and Binance Coin experienced notable positive price movements. These price trends indicate potential market opportunities and investment interest in specific cryptocurrencies.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-03-08 08:16:00Bitcoin67,209.380.61%0.821.03%2.29-2.23%
2024-03-07 08:16:00Bitcoin66,799.99-0.73%-0.21-0.84%4.53-12.41%
2024-03-06 08:16:00Bitcoin67,287.941.20%0.63-1.27%16.9410.50%
2024-03-08 08:16:00Ethereum3,919.803.12%3.384.11%4.820.09%
2024-03-07 08:16:00Ethereum3,797.51-0.82%-0.73-4.42%4.73-15.24%
2024-03-06 08:16:00Ethereum3,828.803.71%3.69-0.63%19.9611.84%
2024-03-08 08:16:00Binance Coin470.007.81%8.903.88%10.773.80%
2024-03-07 08:16:00Binance Coin433.304.45%5.026.19%6.97-11.62%
2024-03-06 08:16:00Binance Coin414.00-1.23%-1.17-0.41%18.5914.55%

CryptocurrencyΒ Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table provides insights into the total market capitalization and trading volume across major cryptocurrencies. The data reveals the changing market dynamics in terms of capitalization and volume variations. It suggests that there have been positive shifts in market capitalizations, indicating increased investor interest and potential price appreciation in some cryptocurrencies.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-03-08 00:00:00Binance Coin72,859,603,56410.61%3,671,347,417-4.17%
2024-03-07 00:00:00Binance Coin65,872,619,7187.85%3,830,974,432-7.71%
2024-03-06 00:00:00Binance Coin61,079,862,301-5.30%4,150,872,99779.75%
2024-03-08 00:00:00Bitcoin1,317,508,010,5811.51%48,862,707,087-33.01%
2024-03-07 00:00:00Bitcoin1,297,845,751,7602.61%72,935,937,557-29.71%
2024-03-06 00:00:00Bitcoin1,264,870,242,319-5.18%103,763,761,01539.32%
2024-03-08 00:00:00Ethereum464,203,366,2041.29%25,395,902,987-35.99%
2024-03-07 00:00:00Ethereum458,288,266,0566.56%39,672,490,806-28.64%
2024-03-06 00:00:00Ethereum430,091,528,234-1.41%55,591,938,32884.65%
2024-03-08 00:00:00Tether100,821,677,1440.30%85,788,784,354-14.94%
2024-03-07 00:00:00Tether100,524,264,5340.08%100,859,682,204-22.09%
2024-03-06 00:00:00Tether100,445,783,9780.84%129,455,861,06994.43%

Cryptocurrency Exchanges Volume and Variation

The ‘Exchanges’ table presents the trading volumes and variations across major cryptocurrency exchanges. The data highlights the performance and market share of exchanges such as Binance, Bitfinex, and Coinbase. It is important to consider exchange-specific factors, including liquidity, security, and regulatory compliance, when evaluating the overall market sentiment.

DateExchangeVolumeVariation
2024-03-08 00:00:00Binance614,750-23.80%
2024-03-07 00:00:00Binance806,781-30.73%
2024-03-06 00:00:00Binance1,164,76462.02%
2024-03-08 00:00:00Binance US762-12.21%
2024-03-07 00:00:00Binance US868-52.65%
2024-03-06 00:00:00Binance US1,83368.47%
2024-03-08 00:00:00Bitfinex5,668-45.07%
2024-03-07 00:00:00Bitfinex10,318-50.31%
2024-03-06 00:00:00Bitfinex20,76360.63%
2024-03-08 00:00:00Bybit85,931-36.30%
2024-03-07 00:00:00Bybit134,909-36.91%
2024-03-06 00:00:00Bybit213,83377.71%
2024-03-08 00:00:00Coinbase85,728-25.33%
2024-03-07 00:00:00Coinbase114,814-42.19%
2024-03-06 00:00:00Coinbase198,59065.10%
2024-03-08 00:00:00Crypto.com22,688-32.68%
2024-03-07 00:00:00Crypto.com33,701-31.43%
2024-03-06 00:00:00Crypto.com49,14876.15%
2024-03-08 00:00:00Gate.io31,674-14.65%
2024-03-07 00:00:00Gate.io37,111-43.06%
2024-03-06 00:00:00Gate.io65,1703.76%
2024-03-08 00:00:00Kraken26,687-21.43%
2024-03-07 00:00:00Kraken33,966-39.85%
2024-03-06 00:00:00Kraken56,46551.03%
2024-03-08 00:00:00KuCoin41,963-23.11%
2024-03-07 00:00:00KuCoin54,578-42.30%
2024-03-06 00:00:00KuCoin94,59485.44%
2024-03-08 00:00:00OKX72,668-36.90%
2024-03-07 00:00:00OKX115,167-45.20%
2024-03-06 00:00:00OKX210,15990.54%

Mining – Blockchain Technology

The ‘Mining’ table showcases key indicators related to mining in the cryptocurrency market, including difficulty, mined blocks, block rewards, and hash rate. The data provides insights into the mining ecosystem and its impact on network security and supply dynamics. Analyzing these indicators helps understand the state of mining activities and potential implications for the broader cryptocurrency market.

Item2024-03-082024-03-072024-03-062024-03-052024-03-042024-03-032024-03-02
Difficulty79.35T79.35T79.35T79.35T79.35T79.35T79.35T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%-2.90%
Blocks833.65K833.47K833.33K833.17K833.04K832.88K832.76K
Blocks Variation0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Reward BTC6.256.256.256.256.256.256.25
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB702.13B548.30B650.85B512.79B607.46B500.96B603.52B
Hash Rate GB Variation28.06%-15.76%26.92%-15.58%21.26%-16.99%12.54%

Conclusion

In conclusion, the cryptocurrency market is currently exhibiting a neutral to trending up sentiment. Positive news surrounding major cryptocurrencies, their adoption by influential companies, and price rallies reflect growing interest and potential opportunities. However, concerns related to specific exchanges and cybersecurity incidents require attention. It is crucial to monitor market developments, conduct thorough analyses, and consider a diverse range of indicators to make informed decisions in this dynamic market.

So What

The current state of the cryptocurrency market holds practical implications for various stakeholders. Investors should be vigilant in assessing the credibility and security aspects of exchanges, considering both positive and negative news. Market participants can explore potential opportunities in cryptocurrencies with positive trends, while also exercising caution and risk management. Additionally, regulatory bodies and industry players must remain proactive in addressing security concerns and promoting transparency in the market.

What next?

Looking ahead, the cryptocurrency market is expected to continue its upward trend in the near future, driven by factors such as increasing institutional adoption, technological advancements, and growing retail investor interest. However, it is crucial to remain vigilant and monitor ongoing developments, including economic events, regulatory actions, and market sentiment. Continued analysis and adaptation to the rapidly evolving cryptocurrency landscape will be necessary for understanding future market dynamics and making informed decisions.

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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