📃 May 30, 2024 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

The cryptocurrency market is showing a neutral to trending up trend for the next 8 hours. Based on the analysis of the latest data, there is a positive sentiment surrounding major cryptocurrencies and key market indicators, suggesting a potential upward momentum. However, it is important to note that the market remains dynamic and subject to sudden changes. Therefore, while the current trend indicates positive movement, caution should always be exercised in cryptocurrency investments.

What is important

The current state of the cryptocurrency market reveals several key points. First, the prices of major cryptocurrencies, such as Bitcoin and Ethereum, have shown stability with minor variations in the last 24 hours. Second, the market capitalizations and volumes have remained robust, indicating continued interest and participation in the market. Third, the major exchanges have witnessed consistent trading activities, creating opportunities for investors. Fourth, the mining sector continues to play a significant role in supporting the overall network security and transaction verification process. Lastly, economic events, including the release of economic indicators and key news related to the cryptocurrency market, have influenced market sentiment and direction.

Top 5 – Latest Headlines & Cryptocurrency News

  1. BlackRock´s IBIT Becomes Largest Bitcoin Fund Overtaking Grayscale– iBit becomes the largest Bitcoin fund, surpassing Grayscale.
  2. Be the Next Cryptocurrency to Get an ETF in 2024?– Solana (SOL) could potentially be the next cryptocurrency to have an ETF in 2024.
  3. Crypto Forecast: Ethereum Top Target Set at $10,000, Solana at $300, and Algotech at $10 After AI Exchange Launch.– The cryptocurrency market is predicted to see Ethereum reach $10,000, Solana reach $300, and Algotech reach $10 after the launch of an AI exchange.
  4. BlackRock´s US$20-billion ETF is now the world´s largest bitcoin fund, dethroning Grayscale´s rival crypto trust– BlackRock´s $20 billion ETF becomes the world´s largest Bitcoin fund, surpassing Grayscale´s rival crypto trust.
  5. BlackRock´s Bitcoin ETF Surpasses Grayscale´s GBTC to Become the Largest Spot Bitcoin Product– BlackRock´s Bitcoin ETF surpasses Grayscale´s GBTC to become the largest spot Bitcoin product.

Factors Driving the Growth – Market Sentiment

The analysis of the ‘Positive Keywords’ and ‘Negative Words’ tables reveals interesting insights. The most mentioned positive sentiment keywords include Binance, cryptocurrency market, Bitcoin, Solana, and Mastercard, indicating positive developments, market growth, and increased adoption. On the other hand, negative sentiment keywords such as scams, SEC, and price highlight the concerns and challenges faced by the market, including regulatory issues and price volatility.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
54binance
41cryptocurrency market
25bitcoin
23cryptocurrency
16solana
15mastercard
15shiba inu
14blackrock
13ethereum
13paypal

Negative Terms – Sentiment Analysis

OccurrencesKeyword
7bitcoin
3etf
3ethereum
3price
3ryan salame
3scams
3sec
3texas
3xrp
2arkbit

Crypto Investor Fear & Greed Index

The ‘Fear and Greed Indicators’ table provides insights into the market sentiment. The fear and greed indicators measure the overall sentiment of market participants, ranging from extreme fear to extreme greed. Based on the current data provided, the market sentiment shows a mixed sentiment, with fear appearing to dominate in recent days. It is essential to monitor the fear and greed indicators as they can provide valuable insights into potential shifting market dynamics.

DateValueVariationSource
2024-05-30 00:00:0072pt0ptAlternative.me
2024-05-30 00:00:0073pt1ptAlternative.me
2024-05-29 00:00:0072pt0ptAlternative.me
2024-05-28 00:00:0072pt-2ptAlternative.me
2024-05-28 00:00:0074pt0ptAlternative.me
2024-05-30 00:00:0072pt0ptBitDegree.org
2024-05-29 00:00:0072pt-2ptBitDegree.org
2024-05-28 00:00:0074pt0ptBitDegree.org
2024-05-30 00:00:0070pt0ptBtcTools.io
2024-05-29 08:00:0070pt-1ptBtcTools.io
2024-05-29 00:00:0071pt1ptBtcTools.io
2024-05-28 08:00:0070pt-2ptBtcTools.io
2024-05-28 00:00:0072pt3ptBtcTools.io
2024-05-27 16:00:0069pt3ptBtcTools.io
2024-05-27 08:00:0066pt0ptBtcTools.io
2024-05-30 00:00:0073pt1ptCoinstats.app
2024-05-29 00:00:0072pt0ptCoinstats.app
2024-05-28 00:00:0072pt0ptCoinstats.app
2024-05-30 00:00:0072pt0ptLookIntoBitcoin.com
2024-05-30 00:00:0073pt1ptLookIntoBitcoin.com
2024-05-29 00:00:0072pt0ptLookIntoBitcoin.com
2024-05-28 00:00:0072pt-2ptLookIntoBitcoin.com
2024-05-28 00:00:0074pt0ptLookIntoBitcoin.com

Bitcoin: Active Addresses

The ‘Bitcoin Address Indicators’ table presents key indicators related to active addresses and their balances. The data suggests a consistent number of active addresses and a varying balance distribution among them. Analyzing this information can provide insights into the level of activity and user engagement within the Bitcoin network, which is crucial for understanding market dynamics and investor behavior.

DateAddressesVariationIndicatorSource
2024-05-30 00:00:001,294,086,9920.00%Total Addressesbitaps.com
2024-05-30 00:00:001,241,473,1150.00%Zero Balance Addressesbitaps.com
2024-05-30 00:00:00559,0682.93%Bitcoin Active Addressesbtc.com
2024-05-30 00:00:00540,7520.00%Addresses with over 0bitaps.com
2024-05-30 00:00:00219,3730.00%Addresses with over 0.0000001bitaps.com
2024-05-30 00:00:003,411,4760.00%Addresses with over 0.000001bitaps.com
2024-05-30 00:00:0010,270,9030.00%Addresses with over 0.00001bitaps.com
2024-05-30 00:00:0013,608,9450.01%Addresses with over 0.0001bitaps.com
2024-05-30 00:00:0011,972,3630.00%Addresses with over 0.001bitaps.com
2024-05-30 00:00:008,032,9760.00%Addresses with over 0.01bitaps.com
2024-05-30 00:00:003,545,5490.00%Addresses with over 0.1bitaps.com
2024-05-30 00:00:00858,6590.00%Addresses with over 1bitaps.com
2024-05-30 00:00:00137,0620.00%Addresses with over 10bitaps.com
2024-05-30 00:00:0013,7460.00%Addresses with over 100bitaps.com
2024-05-30 00:00:001,9640.00%Addresses with over 1,000bitaps.com
2024-05-30 00:00:001060.00%Addresses with over 10,000bitaps.com
2024-05-30 00:00:0030.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table highlights important financial events that could impact the cryptocurrency market. These events include key economic indicators, interest rate decisions, and market speeches from influential figures. Monitoring these events can help gain insights into market expectations and potential trends.

DateImpactEvent
2024-05-31 13:45:00ModerateChicago PMI Index
2024-05-31 12:30:00HighPersonal Income and Outlays PCE Price Index – Y/Y
2024-05-31 12:30:00HighPersonal Income and Outlays Core PCE Price Index – Y/Y
2024-05-31 12:30:00HighPersonal Income and Outlays Personal Income – M/M
2024-05-31 12:30:00HighPersonal Income and Outlays Personal Consumption Expenditures – M/M
2024-05-31 12:30:00HighPersonal Income and Outlays PCE Price Index – M/M
2024-05-31 12:30:00HighPersonal Income and Outlays Core PCE Price Index – M/M
2024-05-30 23:50:00ModerateJPY – Industrial Production (MoM) (Apr)
2024-05-30 23:30:00ModerateJPY – Tokyo Core CPI (YoY)
2024-05-30 20:30:00ModerateUSD – Fed´s Balance Sheet
2024-05-30 18:50:00ModerateGBP – BoE Gov Bailey Speaks
2024-05-30 16:05:00ModerateUSD – FOMC Member Williams Speaks
2024-05-30 15:00:00ModerateUSD – Cushing Crude Oil Inventories
2024-05-30 15:00:00HighUSD – Crude Oil Inventories
2024-05-30 15:00:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-05-30 15:00:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-05-30 15:00:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-05-30 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-05-30 14:00:00ModerateUSD – Pending Home Sales (MoM) (Apr)
2024-05-30 14:00:00ModeratePending Home Sales Index Index
2024-05-30 14:00:00ModeratePending Home Sales Index Month over Month
2024-05-30 13:00:00ModerateZAR – Interest Rate Decision (May)
2024-05-30 12:30:00ModerateCAD – Current Account (Q1)
2024-05-30 12:30:00ModerateUSD – Retail Inventories Ex Auto (Apr)
2024-05-30 12:30:00HighUSD – Initial Jobless Claims
2024-05-30 12:30:00ModerateUSD – Goods Trade Balance (Apr)
2024-05-30 12:30:00ModerateUSD – GDP Price Index (QoQ) (Q1)
2024-05-30 12:30:00HighUSD – GDP (QoQ) (Q1)
2024-05-30 12:30:00ModerateUSD – Core PCE Prices (Q1)
2024-05-30 12:30:00ModerateUSD – Continuing Jobless Claims
2024-05-30 12:30:00HighInternational Trade in Goods (Advance) Imports – M/M
2024-05-30 12:30:00HighInternational Trade in Goods (Advance) Exports – M/M
2024-05-30 12:30:00HighInternational Trade in Goods (Advance) Balance
2024-05-30 12:30:00HighJobless Claims Initial Claims – Level
2024-05-30 12:30:00HighGDP Personal Consumption Expenditures – Annual Rate
2024-05-30 12:30:00HighGDP Quarter over Quarter – Annual Rate
2024-05-30 12:30:00HighJobless Claims Initial Claims – Change
2024-05-30 12:30:00HighJobless Claims 4-Week Moving Average
2024-05-30 10:00:00ModerateEUR – Eurogroup Meetings
2024-05-30 09:10:00ModerateEUR – Italian 10-Year BTP Auction
2024-05-30 09:00:00ModerateEUR – Unemployment Rate (Apr)
2024-05-30 07:00:00ModerateEUR – Spanish HICP (YoY) (May)
2024-05-30 07:00:00ModerateEUR – Spanish CPI (YoY) (May)
2024-05-30 07:00:00ModerateCHF – GDP (QoQ) (Q1)
2024-05-30 07:00:00ModerateCHF – GDP (YoY) (Q1)
2024-05-30 07:00:00ModerateCHF – KOF Leading Indicators (May)
2024-05-30 02:00:00ModerateNZD – Annual Budget Release
2024-05-30 01:30:00ModerateAUD – Private New Capital Expenditure (QoQ) (Q1)
2024-05-30 01:30:00ModerateAUD – Building Approvals (MoM) (Apr)
2024-05-30 00:00:00ModerateCHF – SNB Board Member Jordan Speaks
2024-05-29 23:00:00ModerateUSD – FOMC Member Bostic Speaks
2024-05-29 20:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-05-29 18:00:00ModerateUSD – Beige Book
2024-05-29 17:45:00ModerateUSD – FOMC Member Williams Speaks
2024-05-29 17:00:00ModerateUSD – 7-Year Note Auction
2024-05-29 12:00:00ModerateBRL – Unemployment Rate (Apr)
2024-05-29 12:00:00ModerateBRL – Unemployment Rate
2024-05-29 12:00:00HighEUR – German CPI (MoM) (May)
2024-05-29 12:00:00ModerateEUR – German CPI (YoY) (May)
2024-05-29 11:30:00ModerateBRL – Gross Debt-to-GDP ratio (MoM) (Apr)
2024-05-29 06:00:00ModerateEUR – GfK German Consumer Climate (Jun)
2024-05-29 01:30:00ModerateJPY – BoJ Board Member Adachi Speaks
2024-05-29 01:30:00ModerateAUD – Construction Work Done (QoQ) (Q1)

Crypto Assets Prices

The ‘Prices’ table provides an overview of the price variations and volatility of major cryptocurrencies. The data indicates relatively stable prices with minor fluctuations in the last 24 hours. This suggests a period of consolidation or a potential buildup for a future price movement. Traders and investors should closely monitor these price levels for potential trading opportunities and market trends.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-05-29 00:18:00Bitcoin68,434.20-1.33%-1.36-2.12%3.44-0.13%
2024-05-28 00:18:00Bitcoin69,342.501.04%0.761.53%3.571.47%
2024-05-30 00:18:00Ethereum3,781.51-1.81%-1.74-1.04%3.90-0.27%
2024-05-29 00:18:00Ethereum3,849.95-0.93%-0.70-1.81%4.170.52%
2024-05-28 00:18:00Ethereum3,885.661.20%1.11-1.39%3.64-0.46%
2024-05-30 00:18:00Binance Coin596.60-0.96%-0.90-0.76%1.77-0.28%
2024-05-29 00:18:00Binance Coin602.30-0.13%-0.13-0.50%2.05-0.28%
2024-05-28 00:18:00Binance Coin603.100.30%0.370.42%2.331.09%

Cryptocurrency Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table reflects the overall market capitalization and trading volumes of major cryptocurrencies. The data indicates consistent market capitalization and trading volumes, demonstrating ongoing market interest and activity. This stability provides a positive outlook for market participants and suggests a healthy and active cryptocurrency market.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-05-30 00:00:00Binance Coin91,603,797,198-0.92%843,212,321-16.31%
2024-05-30 00:00:00Binance Coin91,603,797,1980.00%799,283,621-5.21%
2024-05-29 00:00:00Binance Coin92,458,657,364-0.36%1,007,538,94819.33%
2024-05-28 00:00:00Binance Coin92,794,496,5090.50%844,335,14877.21%
2024-05-30 00:00:00Bitcoin1,331,734,029,835-1.05%19,888,749,099-34.87%
2024-05-30 00:00:00Bitcoin1,331,734,029,8350.00%24,190,427,37821.63%
2024-05-29 00:00:00Bitcoin1,345,865,127,769-1.54%30,537,994,36742.06%
2024-05-28 00:00:00Bitcoin1,366,931,305,3891.25%21,496,341,07951.59%
2024-05-30 00:00:00Ethereum452,762,636,814-1.84%15,553,154,406-12.84%
2024-05-30 00:00:00Ethereum452,762,636,8140.00%15,236,918,997-2.03%
2024-05-29 00:00:00Ethereum461,237,103,392-1.36%17,844,821,1093.61%
2024-05-28 00:00:00Ethereum467,614,044,5471.74%17,222,709,45329.32%
2024-05-30 00:00:00Tether111,820,341,3280.00%45,322,272,773-14.08%
2024-05-30 00:00:00Tether111,820,341,3280.00%24,517,970,571-45.90%
2024-05-29 00:00:00Tether111,823,520,482-0.05%52,748,289,85961.44%
2024-05-28 00:00:00Tether111,876,918,242-0.03%32,673,492,6569.59%

Cryptocurrency Exchanges Volume and Variation

The ‘Exchanges’ table showcases the total trading volume and variations in major cryptocurrency exchanges. The data provides insights into the trading activities and popularity of different exchanges. Traders and investors can use this information to make informed decisions and identify potential opportunities in the market.

DateExchangeVolumeVariation
2024-05-30 00:00:00Binance275,032-12.24%
2024-05-30 00:00:00Binance275,0320.00%
2024-05-29 00:00:00Binance313,38716.05%
2024-05-28 00:00:00Binance270,04747.10%
2024-05-30 00:00:00Binance US194-31.21%
2024-05-30 00:00:00Binance US1940.00%
2024-05-29 00:00:00Binance US28241.71%
2024-05-28 00:00:00Binance US19967.23%
2024-05-30 00:00:00Bitfinex1,8660.00%
2024-05-30 00:00:00Bitfinex1,866-34.39%
2024-05-29 00:00:00Bitfinex2,844-17.16%
2024-05-28 00:00:00Bitfinex3,43351.57%
2024-05-30 00:00:00Bybit66,360-7.08%
2024-05-30 00:00:00Bybit66,3600.00%
2024-05-29 00:00:00Bybit71,41816.58%
2024-05-28 00:00:00Bybit61,26063.05%
2024-05-30 00:00:00Coinbase33,630-10.48%
2024-05-30 00:00:00Coinbase33,6300.00%
2024-05-29 00:00:00Coinbase37,56945.05%
2024-05-28 00:00:00Coinbase25,90045.69%
2024-05-30 00:00:00Crypto.com12,885-18.43%
2024-05-30 00:00:00Crypto.com12,8850.00%
2024-05-29 00:00:00Crypto.com15,79617.45%
2024-05-28 00:00:00Crypto.com13,44944.99%
2024-05-30 00:00:00Gate.io45,972-3.30%
2024-05-30 00:00:00Gate.io45,9720.00%
2024-05-29 00:00:00Gate.io47,54311.66%
2024-05-28 00:00:00Gate.io42,57857.76%
2024-05-30 00:00:00Kraken11,1460.00%
2024-05-30 00:00:00Kraken11,146-0.98%
2024-05-29 00:00:00Kraken11,2566.00%
2024-05-28 00:00:00Kraken10,61967.20%
2024-05-30 00:00:00KuCoin10,836-8.98%
2024-05-30 00:00:00KuCoin10,8360.00%
2024-05-29 00:00:00KuCoin11,90511.85%
2024-05-28 00:00:00KuCoin10,64453.53%
2024-05-30 00:00:00OKX41,0680.00%
2024-05-30 00:00:00OKX41,068-19.31%
2024-05-29 00:00:00OKX50,89520.32%
2024-05-28 00:00:00OKX42,30039.26%

Mining – Blockchain Technology

The ‘Mining’ table provides insights into the mining difficulty, block rewards, and hash rate in the cryptocurrency market. The data shows consistent mining difficulty, block rewards, and hash rate variations. These indicators highlight the computational power and security of various networks, which are essential factors for blockchain stability and transaction verification.

DateDifficultyDifficulty VariationBlocksBlocks VariationReward BTCReward BTC VariationHash Rate GBHash Rate GB Variation
2024-05-3084.38T0.00%845.71K0.02%3.130.00%494.97B76.12%
2024-05-30843814617888310.00T999,999,999,999,900.00%845.71K0.00%3,125.0099,900.00%494.97B0.00%
2024-05-2984.38T0.00%845.57K0.02%3.130.00%281.04B-37.38%
2024-05-2884.38T0.00%845.44K0.01%3.130.00%448.82B-35.54%
2024-05-2784.38T0.00%845.32K0.02%3.130.00%696.31B6.41%
2024-05-2684.38T0.00%845.15K0.02%3.130.00%654.36B4.00%
2024-05-2584.38T0.00%844.99K0.02%3.130.00%629.19B-10.71%
2024-05-2484.38T1.48%844.83K0.00%3.13∞%704.70B14.42%

Conclusion

In conclusion, the cryptocurrency market is currently displaying a neutral to trending up trend for the next 8 hours. Positive sentiment is observed in major cryptocurrencies, market capitalizations, and trading volumes. However, caution should be exercised, considering the dynamic nature of the market. Monitoring economic events, analyzing price movements, and staying informed about regulatory developments are crucial for making informed investment decisions.

So What

The current state of the cryptocurrency market has practical implications for market participants. It presents opportunities for traders and investors to engage in potential profitable trades, given the positive sentiment and stable market conditions. However, it is important to adopt risk management strategies and stay updated with market developments to mitigate potential risks.

What next?

Looking ahead, the cryptocurrency market is expected to continue its upward momentum, driven by positive market indicators and increasing adoption. The market’s response to upcoming economic events, regulatory decisions, and technological advancements will shape the future trajectory. Market participants should closely monitor these developments to capitalize on potential opportunities and make informed investment 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.

Get Your Daily Crypto Trends

Subscribe to CryptoTrends.news and recieve notifications on new crypto market posts.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.