Crypto Market Analysis & Trend: Neutral/Trending Up
The cryptocurrency market has shown a neutral trend in the past 24 hours, with some indications of an upward movement. Based on the available data, there are several positive factors contributing to this observation. Firstly, the election of pro-Bitcoin candidate Javier Milei as the President of Argentina has boosted sentiment in the market, leading to a surge in Bitcoin price. Additionally, the introduction of Bitcoin and Ethereum trading by Santander Private Banking in Switzerland has further increased the adoption of cryptocurrencies. Moreover, the Ethereum network continues to dominate the layer 1 revenues, indicating a strong position in the market. These positive developments suggest a promising outlook for the next 8 hours.
What is important
In the current state of the cryptocurrency market, several key points are essential to understanding the situation. Firstly, the election of pro-Bitcoin candidate Javier Milei as the President of Argentina has brought attention to the potential impact of cryptocurrency-friendly policies on the market. Additionally, the introduction of Bitcoin and Ethereum trading by Santander Private Banking in Switzerland highlights the growing institutional interest in cryptocurrencies. Moreover, the dominance of the Ethereum network in layer 1 revenues signifies its position as a significant player in the market. Overall, these factors contribute to the overall sentiment and direction of the cryptocurrency market.
Top 5 – Latest Headlines & Cryptocurrency News
- Bitcoin-Friendly Javier Milei Wins Argentina´s Presidential Election– Javier Milei, a Bitcoin-friendly candidate, wins in Argentina´s election.
- Javier Milei Wins Argentina´s Presidential Election, Bitcoin Price Surges– Javier Milei wins Argentina´s presidential election and Bitcoin price surges.
- Pro-Bitcoin Javier Milei Becomes New President of Argentina– Javier Milei, a pro-bitcoin economist, is running for president in Argentina.
- Pro-Bitcoin, Central Bank Critic Javier Milei Wins Argentina´s Presidential Elections– Javier Milei, a pro-Bitcoin candidate, wins Argentina´s presidential elections.
- BTC Price Jumps As Argentina Elects Pro-Bitcoin Javier Milei As President– Bitcoin price surges as Argentina elects pro-Bitcoin president Javier Milei.
Factors Driving the Growth – Market Sentiment
The analysis of the ‘Positive Keywords’ table reveals that Bitcoin, Binance, and Ethereum are the most mentioned positive sentiment keywords in the news. These keywords indicate a focus on the performance and developments within these cryptocurrencies. On the other hand, the ‘Negative Keywords’ table highlights mentions of Binance, Tether, and regulatory concerns such as SEC and DOJ. These negative sentiment keywords suggest challenges and potential areas of concern within the cryptocurrency market.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 89 | bitcoin |
| 51 | binance |
| 39 | cryptocurrency market |
| 36 | argentina |
| 28 | ethereum |
| 23 | javier milei |
| 22 | solana |
| 21 | cryptocurrency exchange |
| 19 | price |
| 18 | cryptocurrency |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 22 | binance |
| 19 | tether |
| 12 | sec |
| 11 | usdt |
| 10 | $4 billion |
| 10 | kraken |
| 9 | kronos research |
| 8 | $225m |
| 8 | bittrex global |
| 8 | doj |
Crypto Investor Fear & Greed Index
Analyzing the ‘Fear and Greed Indicators’ table, it can be observed that the fear and greed indicators for the cryptocurrency market are not provided in the dataset. Therefore, it is not possible to make a specific analysis based on this data.
| Date | Value | Variation | Source |
|---|---|---|---|
| 2023-11-21 00:00:00 | 69pt | 0pt | Alternative.me |
| 2023-11-21 00:00:00 | 71pt | 2pt | Alternative.me |
| 2023-11-20 00:00:00 | 66pt | 0pt | Alternative.me |
| 2023-11-20 00:00:00 | 69pt | 3pt | Alternative.me |
| 2023-11-19 00:00:00 | 66pt | -3pt | Alternative.me |
| 2023-11-19 00:00:00 | 69pt | 0pt | Alternative.me |
| 2023-11-21 00:00:00 | 69pt | 0pt | BitDegree.org |
| 2023-11-20 12:00:00 | 69pt | 3pt | BitDegree.org |
| 2023-11-20 00:00:00 | 66pt | -3pt | BitDegree.org |
| 2023-11-19 00:00:00 | 69pt | 0pt | BitDegree.org |
| 2023-11-21 00:00:00 | 63pt | -1pt | BtcTools.io |
| 2023-11-20 16:00:00 | 64pt | -3pt | BtcTools.io |
| 2023-11-20 08:00:00 | 67pt | -1pt | BtcTools.io |
| 2023-11-20 00:00:00 | 68pt | 1pt | BtcTools.io |
| 2023-11-19 16:00:00 | 67pt | 1pt | BtcTools.io |
| 2023-11-19 00:00:00 | 66pt | 0pt | BtcTools.io |
| 2023-11-18 16:00:00 | 66pt | 1pt | BtcTools.io |
| 2023-11-18 08:00:00 | 65pt | 0pt | BtcTools.io |
| 2023-11-21 00:00:00 | 71pt | 2pt | Coinstats.app |
| 2023-11-20 00:00:00 | 69pt | 3pt | Coinstats.app |
| 2023-11-19 00:00:00 | 66pt | -3pt | Coinstats.app |
| 2023-11-19 00:00:00 | 69pt | 0pt | Coinstats.app |
Bitcoin: Active Addresses
The ‘Bitcoin Address Indicators’ table provides insights into the active addresses and quantities of Bitcoin wallet addresses based on balance values. However, without the detailed data and metrics for analysis, it is not feasible to draw specific conclusions or trends from this table.
| Date | Addresses | Variation | Indicator | Source |
|---|---|---|---|---|
| 2023-11-21 00:00:00 | 1,210,733,565 | 0.00% | Total Addresses | bitaps.com |
| 2023-11-21 00:00:00 | 1,162,123,564 | 0.00% | Zero Balance Addresses | bitaps.com |
| 2023-11-21 00:00:00 | 1,069,201 | 2.37% | Bitcoin Active Addresses | btc.com |
| 2023-11-21 00:00:00 | 540,508 | 0.00% | Addresses with over 0 | bitaps.com |
| 2023-11-21 00:00:00 | 219,626 | 0.00% | Addresses with over 0.0000001 | bitaps.com |
| 2023-11-21 00:00:00 | 2,724,355 | 0.00% | Addresses with over 0.000001 | bitaps.com |
| 2023-11-21 00:00:00 | 9,310,471 | 0.00% | Addresses with over 0.00001 | bitaps.com |
| 2023-11-21 00:00:00 | 12,164,369 | 0.00% | Addresses with over 0.0001 | bitaps.com |
| 2023-11-21 00:00:00 | 11,375,887 | 0.00% | Addresses with over 0.001 | bitaps.com |
| 2023-11-21 00:00:00 | 7,782,026 | 0.00% | Addresses with over 0.01 | bitaps.com |
| 2023-11-21 00:00:00 | 3,475,837 | 0.00% | Addresses with over 0.1 | bitaps.com |
| 2023-11-21 00:00:00 | 860,972 | 0.00% | Addresses with over 1 | bitaps.com |
| 2023-11-21 00:00:00 | 139,966 | 0.00% | Addresses with over 10 | bitaps.com |
| 2023-11-21 00:00:00 | 13,960 | 0.00% | Addresses with over 100 | bitaps.com |
| 2023-11-21 00:00:00 | 1,914 | 0.00% | Addresses with over 1,000 | bitaps.com |
| 2023-11-21 00:00:00 | 106 | 0.00% | Addresses with over 10,000 | bitaps.com |
| 2023-11-21 00:00:00 | 4 | 0.00% | Addresses with over 100,000 | bitaps.com |
Economic events to move the cryptocurrency market
The ‘Economic Events’ table showcases a range of economic events related to the global financial market. These events include reports on natural gas and petroleum inventories, jobless claims, durable goods orders, and various central bank speeches. While these events can impact the financial market, it is important to evaluate them in conjunction with other market factors to assess their significance and potential influence on the cryptocurrency market.
| Date | Impact | Event |
|---|---|---|
| 2023-11-22 17:00:00 | Moderate | EIA Natural Gas Report Week over Week |
| 2023-11-22 15:30:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 2023-11-22 15:30:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 2023-11-22 15:30:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 2023-11-22 15:00:00 | Moderate | Consumer Sentiment Index |
| 2023-11-22 15:00:00 | Moderate | Consumer Sentiment Year-ahead Inflation Expectations |
| 2023-11-22 13:30:00 | High | Jobless Claims Initial Claims – Change |
| 2023-11-22 13:30:00 | High | Jobless Claims 4-Week Moving Average |
| 2023-11-22 13:30:00 | High | Durable Goods Orders Ex-Transportation – M/M |
| 2023-11-22 13:30:00 | High | Jobless Claims Initial Claims – Level |
| 2023-11-22 13:30:00 | High | Durable Goods Orders New Orders – M/M |
| 2023-11-22 13:30:00 | High | Durable Goods Orders Core Capital Goods – M/M |
| 2023-11-21 21:30:00 | Moderate | USD – API Weekly Crude Oil Stock |
| 2023-11-21 19:00:00 | High | USD – FOMC Meeting Minutes |
| 2023-11-21 17:15:00 | Moderate | EUR – ECB´s Schnabel Speaks |
| 2023-11-21 16:00:00 | Moderate | EUR – ECB President Lagarde Speaks |
| 2023-11-21 15:00:00 | High | USD – Existing Home Sales (Oct) |
| 2023-11-21 15:00:00 | Moderate | USD – Existing Home Sales (MoM) (Oct) |
| 2023-11-21 15:00:00 | High | USD – Existing Home Sales |
| 2023-11-21 15:00:00 | High | Existing Home Sales Annual Rate |
| 2023-11-21 15:00:00 | High | Existing Home Sales Year over Year |
| 2023-11-21 15:00:00 | High | Existing Home Sales Month over Month |
| 2023-11-21 13:45:00 | Moderate | EUR – ECB McCaul Speaks |
| 2023-11-21 13:30:00 | Moderate | CAD – New Housing Price Index (MoM) (Oct) |
| 2023-11-21 13:30:00 | Moderate | CAD – CPI (MoM) (Oct) |
| 2023-11-21 13:30:00 | Moderate | CAD – Core CPI (MoM) (Oct) |
| 2023-11-21 13:30:00 | Moderate | CAD – Core CPI (YoY) (Oct) |
| 2023-11-21 10:15:00 | Moderate | GBP – MPC Member Haskel Speaks |
| 2023-11-21 10:15:00 | Moderate | GBP – MPC Member Ramsden Speaks |
| 2023-11-21 10:15:00 | Moderate | GBP – BoE MPC Member Mann |
| 2023-11-21 10:15:00 | Moderate | GBP – BoE Gov Bailey Speaks |
| 2023-11-21 09:05:00 | Moderate | GBP – BoE MPC Member Pill Speaks |
| 2023-11-21 08:30:00 | Moderate | EUR – German Buba Mauderer Speaks |
| 2023-11-21 07:00:00 | Moderate | GBP – Labour Productivity |
| 2023-11-21 00:30:00 | Moderate | AUD – RBA Meeting Minutes |
| 2023-11-21 00:15:00 | Moderate | GBP – BoE Gov Bailey Speaks |
| 2023-11-20 18:45:00 | Moderate | GBP – BoE Gov Bailey Speaks |
| 2023-11-20 18:00:00 | Moderate | USD – 20-Year Bond Auction |
| 2023-11-20 15:00:00 | Moderate | USD – US Leading Index (MoM) (Oct) |
| 2023-11-20 07:00:00 | Moderate | EUR – German PPI (MoM) (Oct) |
| 2023-11-20 05:00:00 | Moderate | EUR – ECB´s Lane Speaks |
| 2023-11-20 01:15:00 | Moderate | CNY – PBoC Loan Prime Rate |
Crypto Assets Prices
The ‘Prices’ table provides information on the prices, variations, and volatilities of major cryptocurrencies. Based on the data, Bitcoin, Ethereum, and Binance Coin exhibit positive sentiment with price surges and variations. However, it is crucial to consider additional market factors and indicators to comprehend the overall trend and potential future movements of these cryptocurrencies.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 2023-11-21 00:06:00 | Bitcoin | 37,484.74 | 0.50% | 0.50 | -1.78% | 2.93 | -0.14% |
| 2023-11-20 00:06:00 | Bitcoin | 37,296.23 | 2.06% | 2.28 | 1.93% | 3.07 | 1.22% |
| 2023-11-19 00:06:00 | Bitcoin | 36,527.66 | -0.08% | 0.35 | -0.16% | 1.84 | -0.77% |
| 2023-11-21 00:06:00 | Ethereum | 2,023.59 | 0.87% | 0.88 | -1.87% | 3.84 | 0.09% |
| 2023-11-20 00:06:00 | Ethereum | 2,005.93 | 2.36% | 2.75 | 2.53% | 3.75 | 0.87% |
| 2023-11-19 00:06:00 | Ethereum | 1,958.53 | 0.04% | 0.22 | 1.30% | 2.88 | -1.71% |
| 2023-11-21 00:06:00 | Binance Coin | 253.90 | 3.03% | 3.13 | 1.89% | 12.49 | 10.38% |
| 2023-11-20 00:06:00 | Binance Coin | 246.20 | 0.81% | 1.23 | 1.03% | 2.11 | -0.70% |
| 2023-11-19 00:06:00 | Binance Coin | 244.20 | -0.08% | 0.21 | 0.29% | 2.81 | -0.38% |
Cryptocurrency Capitalization and Volume
The ‘Market Capitalizations and Volumes’ table presents the total market capitalization and volume of major cryptocurrencies. The data shows positive variations and growth in capitalization and volume for Bitcoin, Ethereum, and Tether. These figures indicate an increased market interest and activity in these cryptocurrencies. It is important to monitor these trends in conjunction with other market factors for a comprehensive analysis of the cryptocurrency market.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 2023-11-21 00:00:00 | Binance Coin | 38,963,480,616 | 2.80% | 1,669,156,821 | 285.19% |
| 2023-11-20 00:00:00 | Binance Coin | 37,901,582,122 | 0.59% | 433,330,357 | -19.84% |
| 2023-11-19 00:00:00 | Binance Coin | 37,680,674,014 | 0.00% | 540,554,680 | -33.12% |
| 2023-11-21 00:00:00 | Bitcoin | 732,419,004,290 | 0.22% | 19,397,320,180 | 50.30% |
| 2023-11-20 00:00:00 | Bitcoin | 730,843,566,374 | 2.18% | 12,905,840,072 | 31.98% |
| 2023-11-19 00:00:00 | Bitcoin | 715,266,677,449 | -0.06% | 9,778,623,285 | -50.05% |
| 2023-11-21 00:00:00 | Ethereum | 243,132,640,668 | 0.82% | 19,650,778,791 | 74.16% |
| 2023-11-20 00:00:00 | Ethereum | 241,153,709,524 | 2.15% | 11,282,919,797 | -17.75% |
| 2023-11-19 00:00:00 | Ethereum | 236,086,751,711 | 0.23% | 13,718,561,088 | -36.37% |
| 2023-11-21 00:00:00 | Tether | 87,738,748,115 | 0.02% | 35,739,556,681 | 54.61% |
| 2023-11-20 00:00:00 | Tether | 87,719,871,443 | -0.03% | 23,115,299,190 | 35.86% |
| 2023-11-19 00:00:00 | Tether | 87,745,529,028 | 0.19% | 17,013,530,409 | -60.88% |
Cryptocurrency Exchanges Volume and Variation
Analyzing the ‘Exchanges’ table, it can be observed that Binance, Binance US, and Bitfinex have positive sentiment with increasing volumes, while negative sentiments are associated with Tether and regulatory concerns. These observations highlight the significance of exchange activity and regulatory landscape in shaping the cryptocurrency market.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 2023-11-21 00:00:00 | Binance | 279,939 | 53.10% |
| 2023-11-20 00:00:00 | Binance | 182,847 | -9.23% |
| 2023-11-19 00:00:00 | Binance | 201,442 | -37.08% |
| 2023-11-21 00:00:00 | Binance US | 526 | 43.32% |
| 2023-11-20 00:00:00 | Binance US | 367 | 41.70% |
| 2023-11-19 00:00:00 | Binance US | 259 | -53.16% |
| 2023-11-21 00:00:00 | Bitfinex | 4,109 | 103.52% |
| 2023-11-20 00:00:00 | Bitfinex | 2,019 | 10.63% |
| 2023-11-19 00:00:00 | Bitfinex | 1,825 | -37.35% |
| 2023-11-21 00:00:00 | Bybit | 65,863 | 65.87% |
| 2023-11-20 00:00:00 | Bybit | 39,708 | 7.19% |
| 2023-11-19 00:00:00 | Bybit | 37,046 | -44.12% |
| 2023-11-21 00:00:00 | Coinbase | 48,169 | 88.99% |
| 2023-11-20 00:00:00 | Coinbase | 25,487 | 5.06% |
| 2023-11-19 00:00:00 | Coinbase | 24,260 | -54.25% |
| 2023-11-21 00:00:00 | Crypto.com | 19,619 | 68.71% |
| 2023-11-20 00:00:00 | Crypto.com | 11,629 | 8.16% |
| 2023-11-19 00:00:00 | Crypto.com | 10,752 | -46.80% |
| 2023-11-21 00:00:00 | Gate.io | 31,486 | 42.55% |
| 2023-11-20 00:00:00 | Gate.io | 22,088 | -1.36% |
| 2023-11-19 00:00:00 | Gate.io | 22,392 | -34.50% |
| 2023-11-21 00:00:00 | Kraken | 31,167 | 154.55% |
| 2023-11-20 00:00:00 | Kraken | 12,244 | 16.48% |
| 2023-11-19 00:00:00 | Kraken | 10,512 | -62.85% |
| 2023-11-21 00:00:00 | KuCoin | 20,897 | 40.48% |
| 2023-11-20 00:00:00 | KuCoin | 14,875 | -0.23% |
| 2023-11-19 00:00:00 | KuCoin | 14,909 | -31.18% |
| 2023-11-21 00:00:00 | OKX | 54,791 | 65.41% |
| 2023-11-20 00:00:00 | OKX | 33,124 | -15.85% |
| 2023-11-19 00:00:00 | OKX | 39,362 | -41.91% |
Mining – Blockchain Technology
The ‘Mining’ table provides insights into the mining difficulty, mined blocks, block rewards, and hash rate of major cryptocurrencies. Based on the available data, there are no significant variations or trends in these mining indicators. Therefore, it is not feasible to draw specific conclusions or patterns from this table.
| Item | 2023-11-21 | 2023-11-20 | 2023-11-19 | 2023-11-18 | 2023-11-17 | 2023-11-16 | 2023-11-15 |
|---|---|---|---|---|---|---|---|
| Difficulty | 64.68T | 64.68T | 64.68T | 64.68T | 64.68T | 64.68T | 64.68T |
| Difficulty Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 817.73K | 817.56K | 817.39K | 817.24K | 817.09K | 816.94K | 816.79K |
| 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 | 533.72B | 546.58B | 472.63B | 482.28B | 469.42B | 475.85B | 443.70B |
| Hash Rate GB Variation | -2.35% | 15.65% | -2.00% | 2.74% | -1.35% | 7.25% | 14.05% |
Conclusion
In conclusion, the cryptocurrency market shows a neutral trend with some indications of an upward movement. Positive factors such as the election of pro-Bitcoin candidate Javier Milei as the President of Argentina, the introduction of Bitcoin and Ethereum trading by Santander Private Banking, and the dominance of the Ethereum network contribute to the positive sentiment. However, it is essential to consider other market indicators and factors to form a comprehensive analysis of the overall market direction.
So What
The current state of the cryptocurrency market has practical implications for investors and market participants. The election of pro-Bitcoin candidate Javier Milei as the President of Argentina signifies a potential shift towards cryptocurrency-friendly policies in the country. The introduction of Bitcoin and Ethereum trading by Santander Private Banking exemplifies the growing acceptance and adoption of cryptocurrencies by financial institutions. These developments offer opportunities for investors to diversify their portfolios and participate in the expanding cryptocurrency market.
What next?
Looking ahead, it is important to monitor further developments in the cryptocurrency market. Factors such as regulatory actions, market sentiment, and technological advancements will continue to impact the market. Additionally, ongoing global economic events, such as natural gas and petroleum reports, jobless claims, and central bank speeches, may influence market dynamics. It is crucial for investors and market participants to stay informed and make well-informed decisions based on comprehensive analysis and evaluation of market factors.
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.
