πŸ“ƒ May 15, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

The cryptocurrency market is currently showing a neutral sentiment with a slight upward trend. Based on the analysis of the provided data, there are several factors indicating potential positive movements in the market over the next 8 hours.

What is important

The current state of the cryptocurrency market is influenced by various factors such as economic events, market capitalizations, volume, prices, exchanges, mining activities, and sentiment analysis. Understanding these key elements is essential for assessing market trends and making informed decisions.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Tornado Cash Developer Alexey Pertsev Sentenced to 64 Months for Money Laundering– Tornado Cash developer Alexey Pertsev sentenced to 64 months for money laundering.
  2. Toncoin Outshines Bitcoin With Price Surge And Social Buzz– Toncoin surges in price and generates social buzz, outshining Bitcoin.
  3. Base Announces Ninth Batch of 2024 Builder Grants Focusing on NFT Projects– Binance’s blog post discusses the benefits of Square’s entry into the cryptocurrency market.
  4. Price Tanks 10% Amid Strong Whale Deposits to Binance– The price of Worldcoin (WLD) has dropped by 10% due to large deposits from whales to Binance.

Factors DrivingΒ the Growth – Market Sentiment

The analysis of the ‘Positive Keywords’ and ‘Negative Keywords’ tables reveals the most mentioned words associated with positive and negative sentiments in recent news. While positive keywords like Binance, Bitcoin, and Shiba Inu indicate upward momentum and increased social buzz, negative keywords such as Tornado Cash, money laundering, and regulatory pressure highlight concerns and challenges in the market.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
55binance
38cryptocurrency market
27bitcoin
17pepe
12cryptocurrency
12meme coins
9cryptocurrency exchange
9ethereum
9gamestop
9shiba inu

Negative Terms – Sentiment Analysis

OccurrencesKeyword
27tornado cash
13developer
13money laundering
12cryptocurrency market
8alexey pertsev
8bitcoin
8coinbase
7sec
7tether
6blocktower capital

Crypto Investor Fear & Greed Index

The ‘Fear and Greed Indicators’ table, which represents the sentiment intensity in the cryptocurrency market, shows a mixed sentiment ranging from fear to extreme greed. This fluctuation reflects the uncertainty and complexity of the market conditions. Traders and investors should carefully analyze these indicators to gauge market sentiment and make informed decisions.

DateValueVariationSource
2024-05-15 00:00:0064pt-2ptAlternative.me
2024-05-15 00:00:0066pt0ptAlternative.me
2024-05-14 00:00:0057pt0ptAlternative.me
2024-05-14 00:00:0066pt9ptAlternative.me
2024-05-13 00:00:0056pt0ptAlternative.me
2024-05-13 00:00:0057pt1ptAlternative.me
2024-05-15 00:00:0066pt9ptBitDegree.org
2024-05-14 00:00:0057pt1ptBitDegree.org
2024-05-13 00:00:0056pt0ptBitDegree.org
2024-05-15 08:00:0061pt1ptBtcTools.io
2024-05-15 00:00:0060pt2ptBtcTools.io
2024-05-14 00:00:0058pt0ptBtcTools.io
2024-05-13 16:00:0058pt3ptBtcTools.io
2024-05-13 00:00:0055pt2ptBtcTools.io
2024-05-12 16:00:0053pt0ptBtcTools.io
2024-05-15 00:00:0064pt-2ptCoinstats.app
2024-05-14 00:00:0057pt0ptCoinstats.app
2024-05-14 00:00:0066pt9ptCoinstats.app
2024-05-13 00:00:0057pt0ptCoinstats.app
2024-05-15 00:00:0064pt-2ptLookIntoBitcoin.com
2024-05-15 00:00:0066pt0ptLookIntoBitcoin.com
2024-05-14 00:00:0057pt0ptLookIntoBitcoin.com
2024-05-14 00:00:0066pt9ptLookIntoBitcoin.com
2024-05-13 00:00:0056pt0ptLookIntoBitcoin.com
2024-05-13 00:00:0057pt1ptLookIntoBitcoin.com

Bitcoin: Active Addresses

The ‘Bitcoin Address Indicators’ table provides insights into the activity and quantity of Bitcoin addresses based on balance values. The data suggests stable activity in the number of active addresses, with a slight variation in the quantities of wallet addresses based on balance values. This indicates continued interest and usage of Bitcoin as a digital asset.

DateAddressesVariationIndicatorSource
2024-05-15 08:00:001,290,123,0940.00%Total Addressesbitaps.com
2024-05-15 08:00:001,237,533,8780.00%Zero Balance Addressesbitaps.com
2024-05-15 08:00:00727,0411.72%Bitcoin Active Addressesbtc.com
2024-05-15 08:00:00540,7380.00%Addresses with over 0bitaps.com
2024-05-15 08:00:00219,3720.00%Addresses with over 0.0000001bitaps.com
2024-05-15 08:00:003,375,4940.03%Addresses with over 0.000001bitaps.com
2024-05-15 08:00:0010,228,0620.00%Addresses with over 0.00001bitaps.com
2024-05-15 08:00:0013,582,992-0.01%Addresses with over 0.0001bitaps.com
2024-05-15 08:00:0012,031,123-0.01%Addresses with over 0.001bitaps.com
2024-05-15 08:00:008,054,1340.00%Addresses with over 0.01bitaps.com
2024-05-15 08:00:003,543,8430.00%Addresses with over 0.1bitaps.com
2024-05-15 08:00:00860,3430.00%Addresses with over 1bitaps.com
2024-05-15 08:00:00137,1950.01%Addresses with over 10bitaps.com
2024-05-15 08:00:0013,8070.01%Addresses with over 100bitaps.com
2024-05-15 08:00:002,0070.00%Addresses with over 1,000bitaps.com
2024-05-15 08:00:001030.00%Addresses with over 10,000bitaps.com
2024-05-15 08:00:0030.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table reveals important events related to the global financial market, which can impact the cryptocurrency market. Monitoring these events, such as industrial production rates, housing starts, and jobless claims, provides valuable insights into potential market movements and trends.

DateImpactEvent
2024-05-16 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-05-16 13:15:00HighIndustrial Production Capacity Utilization Rate
2024-05-16 13:15:00HighIndustrial Production Manufacturing Output – M/M
2024-05-16 13:15:00HighIndustrial Production Industrial Production – M/M
2024-05-16 12:30:00HighHousing Starts and Permits Starts – Annual Rate
2024-05-16 12:30:00ModeratePhiladelphia Fed Manufacturing Index Index
2024-05-16 12:30:00ModerateImport and Export Prices Export Prices – Y/Y
2024-05-16 12:30:00HighJobless Claims Initial Claims – Change
2024-05-16 12:30:00HighJobless Claims Initial Claims – Level
2024-05-16 12:30:00ModerateImport and Export Prices Import Prices – M/M
2024-05-16 12:30:00HighHousing Starts and Permits Permits – Annual Rate
2024-05-16 12:30:00HighJobless Claims 4-Week Moving Average
2024-05-16 12:30:00ModerateImport and Export Prices Import Prices – Y/Y
2024-05-16 12:30:00ModerateImport and Export Prices Export Prices – M/M
2024-05-15 23:50:00ModerateJPY – GDP Price Index (YoY) (Q1)
2024-05-15 23:50:00HighJPY – GDP (QoQ) (Q1)
2024-05-15 23:50:00ModerateJPY – GDP (YoY) (Q1)
2024-05-15 20:00:00ModerateUSD – TIC Net Long-Term Transactions (Mar)
2024-05-15 20:00:00ModerateTreasury International Capital Net Long-Term Securities Transactions
2024-05-15 19:20:00ModerateUSD – FOMC Member Bowman Speaks
2024-05-15 16:00:00ModerateRUB – GDP Quarterly (YoY) (Q1)
2024-05-15 16:00:00ModerateUSD – FOMC Member Kashkari Speaks
2024-05-15 16:00:00ModerateUSD – Atlanta Fed GDPNow (Q2)
2024-05-15 14:30:00ModerateUSD – Cushing Crude Oil Inventories
2024-05-15 14:30:00HighUSD – Crude Oil Inventories
2024-05-15 14:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-05-15 14:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-05-15 14:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-05-15 14:00:00ModerateUSD – Retail Inventories Ex Auto (Mar)
2024-05-15 14:00:00ModerateUSD – Fed Vice Chair for Supervision Barr Speaks
2024-05-15 14:00:00ModerateUSD – Business Inventories (MoM) (Mar)
2024-05-15 14:00:00ModerateHousing Market Index Index
2024-05-15 14:00:00ModerateBusiness Inventories Month over Month
2024-05-15 12:30:00HighUSD – Retail Sales (MoM) (Apr)
2024-05-15 12:30:00ModerateUSD – Retail Control (MoM) (Apr)
2024-05-15 12:30:00ModerateUSD – NY Empire State Manufacturing Index (May)
2024-05-15 12:30:00HighUSD – CPI (MoM) (Apr)
2024-05-15 12:30:00HighUSD – CPI (YoY) (Apr)
2024-05-15 12:30:00HighUSD – Core Retail Sales (MoM) (Apr)
2024-05-15 12:30:00ModerateUSD – Core CPI (YoY) (Apr)
2024-05-15 12:30:00HighUSD – Core CPI (MoM) (Apr)
2024-05-15 12:30:00HighCPI CPI – M/M
2024-05-15 12:30:00ModerateEmpire State Manufacturing Index Index
2024-05-15 12:30:00HighRetail Sales Ex-Vehicles & Gas – M/M
2024-05-15 12:30:00HighRetail Sales Ex-Vehicles – M/M
2024-05-15 12:30:00HighRetail Sales Retail Sales – M/M
2024-05-15 12:30:00HighCPI CPI – Y/Y
2024-05-15 12:30:00HighCPI Ex-Food & Energy- M/M
2024-05-15 12:30:00HighCPI Ex-Food & Energy- Y/Y
2024-05-15 12:15:00ModerateCAD – Housing Starts (Apr)
2024-05-15 09:00:00ModerateEUR – Industrial Production (MoM) (Mar)
2024-05-15 09:00:00ModerateEUR – GDP (QoQ)
2024-05-15 09:00:00ModerateEUR – GDP (YoY) (Q1)
2024-05-15 08:00:00ModerateUSD – IEA Monthly Report
2024-05-15 06:45:00ModerateEUR – French HICP (MoM) (Apr)
2024-05-15 06:45:00ModerateEUR – French CPI (MoM) (Apr)
2024-05-15 01:30:00ModerateAUD – Wage Price Index (QoQ) (Q1)
2024-05-14 20:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-05-14 14:00:00HighUSD – Fed Chair Powell Speaks
2024-05-14 13:15:00ModerateEUR – ECBΒ΄s Schnabel Speaks
2024-05-14 12:45:00ModerateEUR – ECBΒ΄s Schnabel Speaks
2024-05-14 12:30:00ModerateCAD – Wholesale Sales (MoM) (Mar)
2024-05-14 12:30:00HighUSD – PPI (MoM) (Apr)
2024-05-14 12:30:00ModerateUSD – Core PPI (MoM) (Apr)
2024-05-14 12:30:00HighPPI-Final Demand Ex-Food & Energy – M/M
2024-05-14 12:30:00HighPPI-Final Demand Ex-Food & Energy – Y/Y
2024-05-14 12:30:00HighPPI-Final Demand PPI-FD – Y/Y
2024-05-14 12:30:00HighPPI-Final Demand Ex-Food, Energy & Trade Services – Y/Y
2024-05-14 12:30:00HighPPI-Final Demand Ex-Food, Energy & Trade Services – M/M
2024-05-14 12:30:00HighPPI-Final Demand PPI-FD – M/M
2024-05-14 11:00:00ModerateUSD – OPEC Monthly Report
2024-05-14 10:00:00ModerateEUR – Eurogroup Meetings
2024-05-14 09:00:00ModerateGBP – Labour Productivity
2024-05-14 09:00:00ModerateEUR – ZEW Economic Sentiment (May)
2024-05-14 09:00:00ModerateEUR – German ZEW Economic Sentiment (May)
2024-05-14 09:00:00ModerateEUR – German ZEW Current Conditions (May)
2024-05-14 08:31:00ModerateGBP – Labour Productivity (Q1)
2024-05-14 08:30:00ModerateGBP – Labour Productivity (Q4)
2024-05-14 08:30:00ModerateGBP – Labour Productivity

Crypto Assets Prices

The ‘Prices’ table depicts the price variations, 24-hour volume, and volatility of major cryptocurrencies. Based on the provided data, Bitcoin and Ethereum experienced minor price variations along with fluctuations in trading volume and volatility. These factors indicate moderate market activity and potential opportunities for traders and investors.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-05-15 08:16:00Bitcoin62,080.020.32%0.351.77%1.89-1.44%
2024-05-14 08:16:00Bitcoin61,880.01-1.34%-1.41-4.14%3.330.09%
2024-05-13 08:16:00Bitcoin62,712.122.94%2.722.59%3.241.54%
2024-05-15 08:16:00Ethereum2,908.85-0.29%-0.181.69%2.17-1.79%
2024-05-14 08:16:00Ethereum2,917.32-1.80%-1.87-3.72%3.96-0.04%
2024-05-13 08:16:00Ethereum2,969.802.03%1.851.89%4.001.94%
2024-05-15 08:16:00Binance Coin567.40-3.60%-3.44-2.00%5.042.29%
2024-05-14 08:16:00Binance Coin587.80-1.57%-1.44-2.80%2.750.20%
2024-05-13 08:16:00Binance Coin597.001.41%1.361.14%2.550.57%

CryptocurrencyΒ Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table displays the total market capitalization and volume of major cryptocurrencies. The data indicates fluctuations in market capitalization and volume across different cryptocurrencies. This reflects the dynamic nature of the market and the changing preferences of investors and traders.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-05-15 00:00:00Binance Coin87,132,189,800-4.39%1,144,212,7342.39%
2024-05-14 00:00:00Binance Coin91,128,253,346-0.25%1,117,495,06067.53%
2024-05-13 00:00:00Binance Coin91,357,231,4130.41%667,049,095-9.03%
2024-05-15 00:00:00Bitcoin1,212,998,352,772-2.10%25,705,767,786-10.08%
2024-05-14 00:00:00Bitcoin1,238,994,152,7132.29%28,588,406,895117.61%
2024-05-13 00:00:00Bitcoin1,211,277,523,4491.18%13,137,169,98410.39%
2024-05-15 00:00:00Ethereum346,305,956,691-2.22%11,575,742,056-16.68%
2024-05-14 00:00:00Ethereum354,155,572,1460.58%13,892,408,785161.12%
2024-05-13 00:00:00Ethereum352,120,009,3030.78%5,320,239,192-17.87%
2024-05-15 00:00:00Tether110,824,101,344-0.05%32,413,277,082-26.68%
2024-05-14 00:00:00Tether110,878,655,2650.08%44,209,371,508181.25%
2024-05-13 00:00:00Tether110,786,173,4810.00%15,718,975,274-29.61%

Cryptocurrency Exchanges Volume and Variation

The ‘Exchanges’ table highlights the total volume and variations observed in major cryptocurrency exchanges. The data indicates fluctuations in trading volume across exchanges, reflecting the changing preferences of traders and potential shifts in market liquidity.

DateExchangeVolumeVariation
2024-05-15 00:00:00Binance273,344-10.77%
2024-05-14 00:00:00Binance306,351147.58%
2024-05-13 00:00:00Binance123,740-12.03%
2024-05-15 00:00:00Binance US134-36.79%
2024-05-14 00:00:00Binance US212171.79%
2024-05-13 00:00:00Binance US781.30%
2024-05-15 00:00:00Bitfinex2,74016.99%
2024-05-14 00:00:00Bitfinex2,34280.43%
2024-05-13 00:00:00Bitfinex1,298-14.66%
2024-05-15 00:00:00Bybit62,382-7.04%
2024-05-14 00:00:00Bybit67,106120.83%
2024-05-13 00:00:00Bybit30,388-15.12%
2024-05-15 00:00:00Coinbase31,345-0.96%
2024-05-14 00:00:00Coinbase31,650193.27%
2024-05-13 00:00:00Coinbase10,792-9.98%
2024-05-15 00:00:00Crypto.com20,884-7.22%
2024-05-14 00:00:00Crypto.com22,50887.85%
2024-05-13 00:00:00Crypto.com11,982-7.81%
2024-05-15 00:00:00Gate.io36,264-3.14%
2024-05-14 00:00:00Gate.io37,440118.88%
2024-05-13 00:00:00Gate.io17,105-25.56%
2024-05-15 00:00:00Kraken11,812-0.22%
2024-05-14 00:00:00Kraken11,838249.10%
2024-05-13 00:00:00Kraken3,391-18.93%
2024-05-15 00:00:00KuCoin11,710-5.41%
2024-05-14 00:00:00KuCoin12,380106.68%
2024-05-13 00:00:00KuCoin5,990-8.09%
2024-05-15 00:00:00OKX40,843-8.24%
2024-05-14 00:00:00OKX44,510156.78%
2024-05-13 00:00:00OKX17,334-9.77%

Mining – Blockchain Technology

The ‘Mining’ table provides insights into the mining difficulty, mined blocks, rewards, and hash rate in the cryptocurrency market. The data reveals the stability of mining difficulty and the number of blocks being mined. Furthermore, the hash rate indicates the computational mining capacity available in the market.

Item2024-05-152024-05-142024-05-132024-05-122024-05-112024-05-102024-05-09
Difficulty83.15T83.15T83.15T83.15T83.15T83.15T88.10T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%-5.62%0.00%
Blocks843.49K843.36K843.21K843.08K842.92K842.77K842.63K
Blocks Variation0.02%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 GB566.27B603.47B541.47B657.20B595.20B599.33B551.84B
Hash Rate GB Variation-6.16%11.45%-17.61%10.42%-0.69%8.61%3.28%

Conclusion

In conclusion, the cryptocurrency market is currently showing a neutral sentiment with a slight upward trend. Positive keywords and indicators suggest potential opportunities, while negative keywords and events pose challenges. Traders and investors should closely monitor market trends, economic events, and sentiment indicators for informed decision-making.

So What

The current state of the cryptocurrency market has implications for market participants. Traders can leverage the observed trends and sentiment analysis for strategic trading decisions. Investors may use the analysis to assess the short-term market outlook and adjust their portfolio allocations accordingly.

What next?

Looking ahead, it is important to continue monitoring market events, regulatory developments, and sentiment indicators. The cryptocurrency market’s dynamic nature requires adaptability and timely decision-making. Continued analysis and due diligence can provide insights into potential opportunities and risks in the evolving market landscape.

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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