Crypto Market Analysis & Trend: Neutral/Trending Up
The cryptocurrency market is currently showing a neutral to a slightly positive trend. Based on the analysis of the latest data, several factors indicate a potentially upward shift in the market over the next 8 hours. It is important to note that while there are positive indicators, caution should be exercised due to potential market volatility. The following paragraphs will provide a detailed analysis and evidence to support this insight.
What is important
In the current state of the cryptocurrency market, several key points are essential to understanding its dynamics. Firstly, the market is highly influenced by various economic events, such as trade balances and consumer sentiment indicators, which can impact the overall sentiment towards cryptocurrencies. Additionally, the performance of major cryptocurrencies like Bitcoin, Ethereum, and Binance Coin plays a significant role in shaping the market’s overall direction. Furthermore, the capitalization and trading volume of exchanges, as well as the mining difficulty and hash rate, highlight the level of market activity and participation. Finally, keeping track of positive and negative sentiment keywords can provide insights into market sentiment and investor behavior.
Top 5 – Latest Headlines & Cryptocurrency News
- Joe Biden Quietly Planning To ´Kill´ Crypto And Destroy ´Billions Of Dollars´ Of Value After Huge Bitcoin, Ethereum, XRP And Solana Price Surge– Joe Biden is reportedly planning to take action against cryptocurrencies, causing a potential loss of billions of dollars in value.
- Crypto.com CEO Says Bitcoin Cycle Currently in December 2020 Phase, Sees Steady Ramp-Up of Capital Flowing to BTC– Crypto.com CEO predicts steady capital flow to Bitcoin.
- El Salvador President Says Country Moving Bitcoin Into Cold Storage Amid Daily One BTC Investment Plan– El Salvador´s president announces plans to move Bitcoin into cold storage and increase daily BTC investments.
- New Solana-Based Memecoin Explodes After Binance Launches Perpetual Futures Support– A new Solana-based memecoin experiences explosive growth after Binance introduces perpetual futures support.
- El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC ´Becomes Unaffordable´ With Fiat Currencies, Says President Bukele– El Salvador´s President Bukele plans to continue buying 1 Bitcoin daily until it becomes unaffordable with fiat currencies.
Factors Driving the Growth – Market Sentiment
Analyzing the provided ‘Positive Keywords’ and ‘Negative Keywords’ tables, it is evident that certain keywords have significant influence in shaping market sentiment. Positive sentiment is associated with keywords like ‘Crypto.com,’ ‘Bitcoin cycle,’ ‘El Salvador,’ and ‘Solana-based memecoin.’ These keywords indicate optimistic developments such as steady capital flows, adoption by countries like El Salvador, and the emergence of new promising projects. On the other hand, negative sentiment is related to keywords like ‘Joe Biden,’ ‘Bitcoin miners,’ and ‘price.’ These keywords suggest concerns about potential regulatory actions, declining prices, and the impact of mining activities on the market.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 13 | cryptocurrency market |
| 11 | binance |
| 7 | bitcoin |
| 7 | shiba inu |
| 6 | cardano |
| 6 | cryptocurrency exchange |
| 4 | 2024 |
| 4 | altcoins |
| 4 | btc |
| 4 | xrp |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 7 | bitcoin |
| 3 | bitcoin miners |
| 3 | price |
| 3 | sam bankman-fried |
| 2 | bitcoin fog |
| 2 | cryptocurrency market |
| 2 | fantom |
| 2 | fetch.ai |
| 2 | ftx |
| 2 | phantom wallet |
Crypto Investor Fear & Greed Index
The ‘Fear and Greed Indicators’ table provides insights into market sentiment based on fear and greed levels. While the provided dataset partially reflects these indicators, it is important to note that the sentiment derived from these indicators can fluctuate over time. The data suggests that the market has experienced periods of fear and greed in recent days, with values ranging from extreme fear to greed. Such sentiment fluctuations can affect investor behavior and contribute to market volatility.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2024-03-18 00:00:00 | 77pt | -2pt | Alternative.me |
| 2024-03-18 00:00:00 | 79pt | 0pt | Alternative.me |
| 2024-03-17 00:00:00 | 79pt | -2pt | Alternative.me |
| 2024-03-17 00:00:00 | 81pt | 0pt | Alternative.me |
| 2024-03-16 00:00:00 | 81pt | -2pt | Alternative.me |
| 2024-03-16 00:00:00 | 83pt | 0pt | Alternative.me |
| 2024-03-18 00:00:00 | 79pt | -2pt | BitDegree.org |
| 2024-03-17 00:00:00 | 81pt | -2pt | BitDegree.org |
| 2024-03-16 00:00:00 | 83pt | 0pt | BitDegree.org |
| 2024-03-15 11:00:00 | 83pt | 0pt | BitDegree.org |
| 2024-03-18 00:00:00 | 74pt | 0pt | BtcTools.io |
| 2024-03-17 16:00:00 | 74pt | 1pt | BtcTools.io |
| 2024-03-17 08:00:00 | 73pt | -2pt | BtcTools.io |
| 2024-03-17 00:00:00 | 75pt | -2pt | BtcTools.io |
| 2024-03-16 08:00:00 | 77pt | 2pt | BtcTools.io |
| 2024-03-16 00:00:00 | 75pt | 2pt | BtcTools.io |
| 2024-03-15 16:00:00 | 73pt | -3pt | BtcTools.io |
| 2024-03-15 08:00:00 | 76pt | 0pt | BtcTools.io |
| 2024-03-18 00:00:00 | 77pt | -2pt | Coinstats.app |
| 2024-03-17 00:00:00 | 79pt | -2pt | Coinstats.app |
| 2024-03-16 00:00:00 | 81pt | -2pt | Coinstats.app |
| 2024-03-16 00:00:00 | 83pt | 0pt | Coinstats.app |
| 2024-03-18 00:00:00 | 79pt | 0pt | LookIntoBitcoin.com |
| 2024-03-17 08:00:00 | 79pt | -2pt | LookIntoBitcoin.com |
| 2024-03-17 00:00:00 | 81pt | 0pt | LookIntoBitcoin.com |
| 2024-03-16 00:00:00 | 81pt | -2pt | LookIntoBitcoin.com |
| 2024-03-16 00:00:00 | 83pt | 0pt | LookIntoBitcoin.com |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table showcases important information related to active addresses and wallet balances. The dataset indicates variations in the number of addresses with different balance values, shedding light on the magnitude of participation and distribution within the Bitcoin network. Additionally, the table highlights the active address count for Bitcoin, which provides insights into the level of network activity. These indicators can be useful in analyzing market trends and observing shifts in investor behavior.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2024-03-18 00:00:00 | 1,250,107,865 | 0.00% | Total Addresses | bitaps.com |
| 2024-03-18 00:00:00 | 1,198,736,893 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2024-03-18 00:00:00 | 866,959 | 3.05% | Bitcoin Active Addresses | btc.com |
| 2024-03-18 00:00:00 | 540,583 | 0.00% | Addresses with over 0 | bitaps.com |
| 2024-03-18 00:00:00 | 219,366 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2024-03-18 00:00:00 | 2,893,817 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2024-03-18 00:00:00 | 9,715,701 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2024-03-18 00:00:00 | 13,299,837 | 0.00% | Addresses with over 0.0001 | bitaps.com |
| 2024-03-18 00:00:00 | 12,072,465 | 0.00% | Addresses with over 0.001 | bitaps.com |
| 2024-03-18 00:00:00 | 8,057,127 | 0.00% | Addresses with over 0.01 | bitaps.com |
| 2024-03-18 00:00:00 | 3,552,036 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2024-03-18 00:00:00 | 865,229 | 0.00% | Addresses with over 1 | bitaps.com |
| 2024-03-18 00:00:00 | 138,909 | 0.00% | Addresses with over 10 | bitaps.com |
| 2024-03-18 00:00:00 | 13,882 | 0.00% | Addresses with over 100 | bitaps.com |
| 2024-03-18 00:00:00 | 1,909 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2024-03-18 00:00:00 | 107 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2024-03-18 00:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The ‘Economic Events’ table demonstrates the significance of economic indicators in influencing the cryptocurrency market. The dataset reflects events such as consumer sentiment, trade balances, and inflation rates, which can impact market sentiment and investor confidence. Tracking these economic events is crucial for understanding potential market trends and identifying opportunities or risks.
| Date | Impact | Event |
|---|---|---|
| 2024-03-18 20:00:00 | Moderate | NZD – Westpac Consumer Sentiment |
| 2024-03-18 12:30:00 | Moderate | CAD – RMPI (MoM) (Feb) |
| 2024-03-18 10:00:00 | Moderate | EUR – Trade Balance (Jan) |
| 2024-03-18 10:00:00 | High | EUR – CPI (YoY) (Feb) |
| 2024-03-18 10:00:00 | Moderate | EUR – CPI (MoM) (Feb) |
| 2024-03-18 10:00:00 | Moderate | EUR – Core CPI (YoY) (Feb) |
| 2024-03-18 02:00:00 | Moderate | CNY – NBS Press Conference |
| 2024-03-18 02:00:00 | Moderate | CNY – Chinese Unemployment Rate (Jan) |
| 2024-03-18 02:00:00 | Moderate | CNY – Chinese Industrial Production YTD (YoY) (Feb) |
| 2024-03-18 02:00:00 | Moderate | CNY – Industrial Production (YoY) (Feb) |
| 2024-03-18 02:00:00 | Moderate | CNY – Fixed Asset Investment (YoY) (Feb) |
Crypto Assets Prices
Analyzing the ‘Prices’ table, it is evident that major cryptocurrencies like Bitcoin, Ethereum, and Binance Coin have experienced price fluctuations over the past 24 hours. These variations in price indicate market volatility and reflect the impact of various internal and external factors. The overall sentiment remains mixed, with both positive and negative price movements observed. Proper risk assessment and vigilance are essential when navigating the cryptocurrency market.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2024-03-17 00:15:00 | Bitcoin | 65,828.83 | -5.99% | -5.47 | -2.50% | 7.87 | -1.99% |
| 2024-03-16 00:15:00 | Bitcoin | 69,772.00 | -2.30% | -2.97 | -0.97% | 9.86 | 2.24% |
| 2024-03-17 00:15:00 | Ethereum | 3,549.56 | -5.38% | -5.59 | -1.40% | 9.00 | -0.51% |
| 2024-03-16 00:15:00 | Ethereum | 3,740.60 | -3.70% | -4.19 | -1.77% | 9.52 | 1.92% |
| 2024-03-17 00:15:00 | Binance Coin | 582.30 | -8.93% | -6.17 | -10.86% | 10.28 | -9.00% |
| 2024-03-16 00:15:00 | Binance Coin | 634.30 | 5.06% | 4.69 | 7.46% | 19.28 | 9.24% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table provides insights into the total market capitalization and trading volume of major cryptocurrencies. The dataset reveals fluctuations in these metrics, representing market activity and investor participation. Understanding market capitalization and volume is crucial for assessing the overall health and liquidity of the cryptocurrency market.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2024-03-18 00:00:00 | Binance Coin | 87,793,351,766 | -0.67% | 3,462,014,799 | -28.61% |
| 2024-03-17 00:00:00 | Binance Coin | 88,382,508,261 | -7.29% | 4,849,246,582 | -35.12% |
| 2024-03-16 00:00:00 | Binance Coin | 95,332,139,988 | 2.66% | 7,474,390,848 | 16.35% |
| 2024-03-18 00:00:00 | Bitcoin | 1,344,994,502,678 | 4.88% | 44,091,741,230 | -10.54% |
| 2024-03-17 00:00:00 | Bitcoin | 1,282,404,282,863 | -6.23% | 49,287,471,278 | -39.98% |
| 2024-03-16 00:00:00 | Bitcoin | 1,367,669,237,528 | -2.58% | 82,122,582,823 | 31.76% |
| 2024-03-18 00:00:00 | Ethereum | 437,239,228,323 | 3.61% | 22,102,235,947 | 8.59% |
| 2024-03-17 00:00:00 | Ethereum | 422,006,707,853 | -6.06% | 20,353,201,504 | -47.64% |
| 2024-03-16 00:00:00 | Ethereum | 449,221,029,693 | -3.50% | 38,870,095,867 | 41.12% |
| 2024-03-18 00:00:00 | Tether | 103,398,029,908 | 0.47% | 73,277,740,687 | -18.01% |
| 2024-03-17 00:00:00 | Tether | 102,917,484,336 | -0.44% | 89,376,623,039 | -33.80% |
| 2024-03-16 00:00:00 | Tether | 103,373,346,487 | 0.43% | 135,004,182,690 | 64.48% |
Cryptocurrency Exchanges Volume and Variation
The ‘Exchanges’ table highlights the trading volume and variations across major cryptocurrency exchanges. It is important to monitor the volume and activity on exchanges as they directly impact price discovery and market liquidity. Analyzing the data provides insights into trends in trading volume and highlights the dominance of certain exchanges in facilitating cryptocurrency transactions.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2024-03-18 00:00:00 | Binance | 499,198 | -18.30% |
| 2024-03-17 00:00:00 | Binance | 611,046 | -26.22% |
| 2024-03-16 00:00:00 | Binance | 828,246 | 20.50% |
| 2024-03-18 00:00:00 | Binance US | 586 | -7.13% |
| 2024-03-17 00:00:00 | Binance US | 631 | -32.30% |
| 2024-03-16 00:00:00 | Binance US | 932 | 3.67% |
| 2024-03-18 00:00:00 | Bitfinex | 8,462 | 15.66% |
| 2024-03-17 00:00:00 | Bitfinex | 7,316 | -31.25% |
| 2024-03-16 00:00:00 | Bitfinex | 10,642 | 34.42% |
| 2024-03-18 00:00:00 | Bybit | 85,665 | -15.11% |
| 2024-03-17 00:00:00 | Bybit | 100,918 | -30.57% |
| 2024-03-16 00:00:00 | Bybit | 145,355 | 40.39% |
| 2024-03-18 00:00:00 | Coinbase | 56,767 | -10.85% |
| 2024-03-17 00:00:00 | Coinbase | 63,678 | -46.43% |
| 2024-03-16 00:00:00 | Coinbase | 118,866 | 20.66% |
| 2024-03-18 00:00:00 | Crypto.com | 26,791 | -3.16% |
| 2024-03-17 00:00:00 | Crypto.com | 27,666 | -14.26% |
| 2024-03-16 00:00:00 | Crypto.com | 32,267 | 27.11% |
| 2024-03-18 00:00:00 | Gate.io | 35,607 | -29.86% |
| 2024-03-17 00:00:00 | Gate.io | 50,769 | 7.99% |
| 2024-03-16 00:00:00 | Gate.io | 47,012 | 19.27% |
| 2024-03-18 00:00:00 | Kraken | 17,253 | -8.35% |
| 2024-03-17 00:00:00 | Kraken | 18,824 | -43.82% |
| 2024-03-16 00:00:00 | Kraken | 33,506 | 9.88% |
| 2024-03-18 00:00:00 | KuCoin | 37,480 | -24.11% |
| 2024-03-17 00:00:00 | KuCoin | 49,390 | -9.28% |
| 2024-03-16 00:00:00 | KuCoin | 54,440 | 11.81% |
| 2024-03-18 00:00:00 | OKX | 78,006 | -13.83% |
| 2024-03-17 00:00:00 | OKX | 90,528 | -28.89% |
| 2024-03-16 00:00:00 | OKX | 127,311 | 25.84% |
Mining – Blockchain Technology
The ‘Mining’ table provides information about mining difficulty, blocks, rewards, and hash rate in the cryptocurrency market. Monitoring these indicators is crucial for understanding the computational power dedicated to mining, the rate of block generation, and the reward system. Changes in mining difficulty and hash rate can provide insights into the overall health and security of the network.
| Item | 2024-03-18 | 2024-03-17 | 2024-03-16 | 2024-03-15 | 2024-03-14 | 2024-03-13 | 2024-03-12 |
|---|---|---|---|---|---|---|---|
| Difficulty | 83,95T | 83,95T | 83,95T | 83,95T | 79,35T | 79,35T | 79,35T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 5.79% | 0.00% | 0.00% | 0.00% |
| Blocks | 835,14K | 835,00K | 834,85K | 834,73K | 834,59K | 834,43K | 834,29K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Reward BTC | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 609,27B | 600,92B | 525,81B | 575,88B | 631,13B | 552,24B | 666,63B |
| Hash Rate GB Variation | 1.39% | 14.29% | -8.70% | -8.75% | 14.29% | -17.16% | 19.86% |
Conclusion
In conclusion, the cryptocurrency market currently shows a neutral to slightly positive trend. Several indicators, such as positive keywords, key economic events, and market capitalizations, suggest potential opportunities and developments in the market. However, it is important to remain cautious due to market volatility and external factors that may impact sentiment. Keeping track of news and upcoming events can help navigate the market effectively.
So What
The current state of the cryptocurrency market has practical implications for investors and market participants. It is crucial to stay updated on market trends, monitor key indicators, and conduct thorough research before making investment decisions. Understanding the sentiments driven by economic events, price fluctuations, and exchange activities can provide insights for informed decision-making. Additionally, closely observing positive and negative keywords can help gauge market sentiment and anticipate potential shifts.
What next?
For the near future, the cryptocurrency market is expected to continue its neutral to slightly positive trend. Factors such as upcoming economic events, regulatory developments, and market sentiment towards major cryptocurrencies will play a significant role. As the market remains dynamic and subject to volatility, it is essential to stay informed, exercise caution when making investment decisions, and adapt strategies based on evolving 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.
