πŸ“ƒ Oct 01, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

In the past 24 hours, the cryptocurrency market has shown a neutral to trending up trend. The prices of major cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin have remained relatively stable with slight fluctuations. Bitcoin’s price has experienced a minor decrease of 0.66% but has managed to hold support levels. Ethereum has seen a slight increase of 0.42%, indicating a steady and positive sentiment in the market. Bithumb, a South Korean cryptocurrency exchange, is considering a listing on the NASDAQ, which could have a positive impact on the market. Additionally, positive news surrounding XRP, FTX Token, and Shiba Inu have contributed to the overall positive sentiment in the market. Based on these factors, the cryptocurrency market is poised for a potential upward trend in the next 8 hours with a moderate level of confidence.

What is important

The current state of the cryptocurrency market shows signs of stability and positive sentiment. Key factors to consider include the potential listing of Bithumb on the NASDAQ, which could bring increased visibility and credibility to the cryptocurrency market. Additionally, news surrounding XRP, FTX Token, and Shiba Inu has generated positive excitement among investors. It’s important to closely monitor the market for any further developments in these areas. Overall, the market is presenting opportunities for growth and potential positive movements.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Bithumb considers listing on the Nasdaq: report– Bithumb is reportedly considering listing on the NASDAQ, which could be a positive development for the cryptocurrency market.
  2. Bithumb Crypto Exchange Plans To Go Public on US Nasdaq– Bithumb, a South Korean cryptocurrency exchange, is planning to go public on the US NASDAQ stock exchange.
  3. South Korean crypto exchange Bithumb considers Nasdaq listing: report– South Korean crypto exchange Bithumb is considering a listing on NASDAQ.
  4. Korean crypto exchange Bithumb eyes Nasdaq listing in 2025: report– Korean crypto exchange Bithumb plans to list on NASDAQ by 2025, according to a report.
  5. FTX Token price prediction: FTT sees 50% breakout and anticipates more gains this October– FTX Token (FTT) is predicted to see a 50% breakout and expects further gains in October.

Factors DrivingΒ the Growth – Market Sentiment

The analysis of positive and negative sentiment keywords in the news over the past 24 hours reveals that ‘Bitcoin’ and ‘Ethereum’ were frequently mentioned with both positive and negative sentiment. Positive sentiment was associated with news about potential listings on NASDAQ for Bithumb, while negative sentiment was related to factors such as price fluctuations and unlocked coins. Other keywords that appeared in the positive sentiment category include ‘FTX Token’, ‘XRP’, ‘Shiba Inu’, ‘Binance’, and ‘Coinbase’, showcasing the positive attention and potential growth surrounding these cryptocurrencies.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
28bitcoin
7cryptocurrency
7price
6binance
6ethereum
6shiba inu
6xrp
5bithumb
5coinbase
5cryptocurrency market

Negative Terms – Sentiment Analysis

OccurrencesKeyword
8bitcoin
4ethereum
3cryptocurrency market
3investors
3uk
3zilliqa
2$65k
2altcoins
2block production
2cryptocurrency

Crypto Investor Fear & Greed Index

The ‘Fear and Greed Indicators’ table demonstrates that the overall sentiment in the cryptocurrency market is currently indicating a state of greed. The values fall within the range of 50 to 74, representing a period of greed. This sentiment aligns with the positive market indicators observed in other analyses, such as the positive trend in prices and the potential listings on major exchanges. It’s important to note that sentiment indicators are just one aspect of market analysis and should be considered alongside other factors for a comprehensive understanding of the market.

DateValueVariationSource
2024-10-01 00:00:0050pt-11ptAlternative.me
2024-10-01 00:00:0061pt0ptAlternative.me
2024-09-30 00:00:0061pt-2ptAlternative.me
2024-09-30 00:00:0063pt0ptAlternative.me
2024-09-29 00:00:0063pt-1ptAlternative.me
2024-09-29 00:00:0064pt0ptAlternative.me
2024-10-01 00:00:0050pt-11ptBinance.com
2024-10-01 00:00:0061pt0ptBinance.com
2024-09-30 00:00:0061pt-2ptBinance.com
2024-09-30 00:00:0063pt0ptBinance.com
2024-09-29 00:00:0063pt-1ptBinance.com
2024-09-29 00:00:0064pt0ptBinance.com
2024-10-01 00:00:0061pt-2ptBitDegree.org
2024-09-30 00:00:0063pt-1ptBitDegree.org
2024-09-29 00:00:0064pt0ptBitDegree.org
2024-10-01 00:00:0069pt0ptBtcTools.io
2024-09-30 16:00:0069pt-5ptBtcTools.io
2024-09-30 00:00:0074pt0ptBtcTools.io
2024-09-29 16:00:0074pt2ptBtcTools.io
2024-09-29 08:00:0072pt-1ptBtcTools.io
2024-09-29 00:00:0073pt-1ptBtcTools.io
2024-09-28 08:00:0074pt0ptBtcTools.io
2024-10-01 00:00:0050pt-11ptCoinstats.app
2024-09-30 00:00:0061pt-2ptCoinstats.app
2024-09-29 00:00:0063pt0ptCoinstats.app

Bitcoin: Active Addresses

The ‘Bitcoin Address Indicators’ table shows a consistent number of active addresses and quantities of wallet address balances. Over the analyzed period, the total number of addresses remained stable, and the balance of wallet addresses saw slight variations. This indicates a steady level of activity in the Bitcoin ecosystem. It’s worth noting that specific events, such as address growth or decline, may be driven by various factors such as market sentiment, adoption, and transaction activity. Monitoring these indicators can provide insights into the overall health and activity of the Bitcoin network.

DateAddressesVariationIndicatorSource
2024-10-01 07:00:001,329,386,7430.00%Total Addressesbitaps.com
2024-10-01 07:00:001,276,832,1860.00%Zero Balance Addressesbitaps.com
2024-10-01 07:00:00735,981-0.98%Bitcoin Active Addressesbtc.com
2024-10-01 07:00:00540,5640.00%Addresses with over 0bitaps.com
2024-10-01 07:00:00219,3840.00%Addresses with over 0.0000001bitaps.com
2024-10-01 07:00:003,786,391-0.02%Addresses with over 0.000001bitaps.com
2024-10-01 07:00:0010,653,3580.00%Addresses with over 0.00001bitaps.com
2024-10-01 07:00:0013,003,237-0.02%Addresses with over 0.0001bitaps.com
2024-10-01 07:00:0011,663,202-0.02%Addresses with over 0.001bitaps.com
2024-10-01 07:00:008,105,9820.00%Addresses with over 0.01bitaps.com
2024-10-01 07:00:003,568,4260.00%Addresses with over 0.1bitaps.com
2024-10-01 07:00:00861,3140.01%Addresses with over 1bitaps.com
2024-10-01 07:00:00136,6740.02%Addresses with over 10bitaps.com
2024-10-01 07:00:0013,946-0.03%Addresses with over 100bitaps.com
2024-10-01 07:00:001,9770.00%Addresses with over 1,000bitaps.com
2024-10-01 07:00:00980.00%Addresses with over 10,000bitaps.com
2024-10-01 07:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table highlights several important events in the global financial market. Notable events include reports on petroleum inventories, employment data, manufacturing indexes, and cryptocurrency-related news. These events can have a significant impact on the financial market, including the cryptocurrency market, as they provide insights into economic trends, market sentiment, and potential market-moving factors. Traders and investors should closely monitor these events, as they can influence price movements and market dynamics.

DateImpactEvent
2024-10-02 14:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-10-02 14:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-10-02 14:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-10-02 12:15:00ModerateADP Employment Report Private Payrolls – M/M
2024-10-02 00:00:00ModerateMotor Vehicle Sales North American-Made Sales – Annual Rate
2024-10-02 00:00:00ModerateMotor Vehicle Sales Total Vehicle Sales – Annual Rate
2024-10-01 23:50:00ModerateJPY – Tankan Large Non-Manufacturers Index (Q3)
2024-10-01 23:50:00ModerateJPY – Tankan Large Manufacturers Index (Q3)
2024-10-01 23:50:00ModerateJPY – Tankan Big Manufacturing Outlook Index (Q3)
2024-10-01 23:50:00ModerateJPY – Tankan All Big Industry CAPEX (Q3)
2024-10-01 22:15:00ModerateUSD – FOMC Member Bostic Speaks
2024-10-01 20:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-10-01 16:00:00ModerateUSD – Atlanta Fed GDPNow (Q3)
2024-10-01 15:30:00ModerateEUR – ECBΒ΄s Schnabel Speaks
2024-10-01 15:00:00ModerateUSD – FOMC Member Bostic Speaks
2024-10-01 14:00:00HighUSD – JOLTs Job Openings (Aug)
2024-10-01 14:00:00HighUSD – ISM Manufacturing Prices (Sep)
2024-10-01 14:00:00HighUSD – ISM Manufacturing PMI (Sep)
2024-10-01 14:00:00ModerateUSD – ISM Manufacturing Employment (Sep)
2024-10-01 14:00:00ModerateUSD – Construction Spending (MoM) (Aug)
2024-10-01 14:00:00ModerateGBP – BoE MPC Member Pill Speaks
2024-10-01 14:00:00ModerateJOLTS Job Openings
2024-10-01 14:00:00HighISM Manufacturing Index Index
2024-10-01 14:00:00ModerateConstruction Spending Year over Year
2024-10-01 14:00:00ModerateConstruction Spending Month over Month
2024-10-01 13:45:00HighUSD – S&P Global US Manufacturing PMI (Sep)
2024-10-01 09:00:00HighEUR – CPI (YoY) (Sep)
2024-10-01 09:00:00ModerateEUR – CPI (MoM) (Sep)
2024-10-01 09:00:00ModerateEUR – Core CPI (YoY) (Sep)
2024-10-01 08:30:00ModerateGBP – S&P Global/CIPS UK Manufacturing PMI (Sep)
2024-10-01 08:00:00ModerateEUR – HCOB Eurozone Manufacturing PMI (Sep)
2024-10-01 07:55:00ModerateEUR – HCOB Germany Manufacturing PMI (Sep)
2024-10-01 07:50:00ModerateEUR – HCOB France Manufacturing PMI (Sep)
2024-10-01 07:45:00ModerateEUR – HCOB Italy Manufacturing PMI (Sep)
2024-10-01 07:30:00ModerateCHF – procure.ch PMI (Sep)
2024-10-01 07:15:00ModerateEUR – HCOB Spain Manufacturing PMI (Sep)
2024-10-01 07:15:00ModerateEUR – German Buba President Nagel Speaks
2024-10-01 07:00:00ModerateEUR – ECBΒ΄s De Guindos Speaks
2024-10-01 01:30:00ModerateAUD – Retail Sales (MoM) (Aug)
2024-10-01 01:30:00ModerateAUD – Building Approvals (MoM) (Aug)
2024-09-30 23:50:00ModerateJPY – Tankan Large Non-Manufacturers Index (Q3)
2024-09-30 23:50:00ModerateJPY – Tankan Large Manufacturers Index (Q3)
2024-09-30 23:50:00ModerateJPY – Tankan Big Manufacturing Outlook Index (Q3)
2024-09-30 23:50:00ModerateJPY – Tankan All Big Industry CAPEX (Q3)
2024-09-30 21:00:00ModerateNZD – NZIER Business Confidence (Q3)
2024-09-30 17:55:00HighUSD – Fed Chair Powell Speaks
2024-09-30 13:45:00ModerateChicago PMI Index
2024-09-30 13:45:00HighUSD – Chicago PMI (Sep)
2024-09-30 13:00:00ModerateEUR – ECB President Lagarde Speaks
2024-09-30 12:50:00ModerateUSD – FOMC Member Bowman Speaks
2024-09-30 12:00:00HighEUR – German CPI (MoM) (Sep)
2024-09-30 12:00:00ModerateEUR – German CPI (YoY) (Sep)
2024-09-30 11:30:00ModerateBRL – Gross Debt-to-GDP ratio (MoM) (Aug)

Crypto Assets Prices

The ‘Prices’ table presents the prices, price variations, 24-hour variations, and volatilities of major cryptocurrencies. The prices of Bitcoin, Ethereum, and Binance Coin have shown relatively stable movements with slight variations in the analyzed period. Although there have been minor fluctuations in prices, the overall trend has been positive, reflecting steady market sentiment. Traders and investors should carefully analyze price movements and consider accompanying factors such as market news, sentiment, and trading volumes for a comprehensive understanding of the market dynamics.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-10-01 07:39:00Bitcoin64,124.00-0.66%-0.680.74%2.74-0.20%
2024-09-30 07:39:00Bitcoin64,546.00-1.52%-1.42-0.97%2.942.08%
2024-09-29 07:39:00Bitcoin65,526.01-0.54%-0.45-1.09%0.86-0.95%
2024-10-01 07:39:00Ethereum2,647.800.42%0.380.52%3.260.48%
2024-09-30 07:39:00Ethereum2,636.79-0.39%-0.141.02%2.781.21%
2024-09-29 07:39:00Ethereum2,646.96-1.34%-1.16-2.11%1.57-1.73%
2024-10-01 07:39:00Binance Coin582.200.00%-0.021.89%3.48-1.55%
2024-09-30 07:39:00Binance Coin582.20-2.39%-1.90-0.86%5.033.57%
2024-09-29 07:39:00Binance Coin596.10-1.29%-1.05-1.03%1.46-1.64%

CryptocurrencyΒ Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table reveals the total market capitalization and volume of major cryptocurrencies. In the analyzed period, the market capitalization remained relatively stable, with minor fluctuations. The volumes of these cryptocurrencies also saw slight variations. These indicators demonstrate the overall stability and liquidity of the cryptocurrency market. Traders and investors should consider both market capitalization and trading volume when assessing the market dynamics and potential investment opportunities.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-10-01 00:00:00Binance Coin82,811,707,164-4.74%1,090,740,26271.02%
2024-09-30 00:00:00Binance Coin86,929,653,540-0.86%637,776,627-34.36%
2024-09-29 00:00:00Binance Coin87,679,712,376-1.17%971,693,111-25.68%
2024-10-01 00:00:00Bitcoin1,250,064,190,075-3.57%38,640,808,570185.82%
2024-09-30 00:00:00Bitcoin1,296,351,702,948-0.41%13,519,264,777-8.09%
2024-09-29 00:00:00Bitcoin1,301,670,410,3640.15%14,709,478,523-54.60%
2024-10-01 00:00:00Ethereum313,564,829,611-1.99%15,718,824,36760.61%
2024-09-30 00:00:00Ethereum319,935,697,759-0.71%9,786,822,9484.22%
2024-09-29 00:00:00Ethereum322,226,531,799-0.74%9,390,244,470-43.79%
2024-10-01 00:00:00Tether119,669,024,7570.17%53,217,644,59552.56%
2024-09-30 00:00:00Tether119,460,389,8680.03%34,883,777,17217.54%
2024-09-29 00:00:00Tether119,422,302,121-0.02%29,678,198,817-45.39%

Cryptocurrency Exchanges Volume and Variation

The ‘Exchanges’ table provides insights into the trading volumes and their variations on major cryptocurrency exchanges. Binance, Binance US, and Bitfinex have shown notable trading volumes, with minor fluctuations within the analyzed period. These exchanges play a significant role in the cryptocurrency market, and their trading volumes can indicate market interest and liquidity. Monitoring trading volumes on these exchanges can help assess investor sentiment and market activity.

DateExchangeVolumeVariation
2024-10-01 00:00:00Binance246,82472.57%
2024-09-30 00:00:00Binance143,0307.61%
2024-09-29 00:00:00Binance132,917-40.29%
2024-10-01 00:00:00Binance US15481.18%
2024-09-30 00:00:00Binance US85-1.16%
2024-09-29 00:00:00Binance US86-48.81%
2024-10-01 00:00:00Bitfinex2,506147.14%
2024-09-30 00:00:00Bitfinex1,0144.32%
2024-09-29 00:00:00Bitfinex972-47.03%
2024-10-01 00:00:00Bybit79,52796.55%
2024-09-30 00:00:00Bybit40,462-4.78%
2024-09-29 00:00:00Bybit42,492-47.10%
2024-10-01 00:00:00Coinbase31,636109.62%
2024-09-30 00:00:00Coinbase15,0924.72%
2024-09-29 00:00:00Coinbase14,412-61.96%
2024-10-01 00:00:00Crypto.com100,989144.67%
2024-09-30 00:00:00Crypto.com41,27530.30%
2024-09-29 00:00:00Crypto.com31,677-63.01%
2024-10-01 00:00:00Gate.io26,25346.28%
2024-09-30 00:00:00Gate.io17,94725.34%
2024-09-29 00:00:00Gate.io14,319-26.15%
2024-10-01 00:00:00Kraken12,002153.69%
2024-09-30 00:00:00Kraken4,73112.46%
2024-09-29 00:00:00Kraken4,207-65.66%
2024-10-01 00:00:00KuCoin10,51432.02%
2024-09-30 00:00:00KuCoin7,9649.76%
2024-09-29 00:00:00KuCoin7,256-34.89%
2024-10-01 00:00:00OKX38,18565.73%
2024-09-30 00:00:00OKX23,0401.86%
2024-09-29 00:00:00OKX22,619-38.28%

Mining – Blockchain Technology

The ‘Mining’ table highlights key factors in the mining sector, including difficulty, blocks, rewards, and hash rate. The difficulty remained stable throughout the analyzed period, indicating a steady mining environment. Blocks and rewards demonstrated consistent patterns with minor variations, reflecting the regular mining activities. The hash rate, representing the computational mining capacity, showed slight differences over the period. These mining indicators provide insights into the mining network’s health and the overall state of the Bitcoin blockchain.

Item2024-10-012024-09-302024-09-292024-09-282024-09-272024-09-262024-09-25
Difficulty88.40T88.40T88.40T88.40T88.40T88.40T92.67T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%-4.60%0.00%
Blocks863.57K863.43K863.27K863.14K863.01K862.88K862.73K
Blocks Variation0.02%0.02%0.01%0.02%0.02%0.02%0.02%
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 GB602.69B686.61B567.55B597.94B571.83B632.82B663.37B
Hash Rate GB Variation-12.22%20.98%-5.08%4.57%-9.64%-4.60%-1.50%

Conclusion

In conclusion, the cryptocurrency market has shown a neutral to a trending up trend in the past 24 hours. Positive developments, such as potential listings on major exchanges and positive sentiments surrounding specific cryptocurrencies, have contributed to the overall market sentiment. Market indicators, including price movements, market capitalizations, volumes, and mining activities, suggest a stable and potentially positive outlook in the near term. However, it’s essential to stay updated on various economic events, market dynamics, and regulatory developments that can influence the cryptocurrency market.

So What

These findings have practical implications for investors and traders. A positive and stable market sentiment can encourage market participation and potential investment opportunities. However, it is crucial to conduct thorough research, evaluate risk factors, and consider individual investment strategies. Additionally, closely monitoring market indicators, economic events, and news developments can help make informed trading decisions and navigate the ever-changing cryptocurrency landscape.

What next?

Looking ahead, the cryptocurrency market is expected to continue experiencing positive trends driven by various factors such as potential listings, positive sentiment around specific coins, and stable market dynamics. However, it is important to closely monitor market developments, regulatory announcements, and macroeconomic factors that can influence the market in the future. The cryptocurrency market remains volatile and subject to various risks, so investors and traders should exercise caution, diversify their portfolios, and stay informed to adapt to changing market conditions.

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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