πŸ“ƒ Oct 11, 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. Despite some minor price corrections and negative sentiment surrounding certain cryptocurrencies, overall market indicators suggest a positive sentiment and a potential upward movement. Over the next 8 hours, it is expected that this trend will continue based on the analysis of various factors and recent market performance.

One of the key factors contributing to this positive sentiment is the performance of top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Both showed resilience in maintaining their market dominance and displayed signs of a potential rebound. The recent announcement of the National Bank of Bahrain launching a bitcoin investment product further strengthens market confidence in cryptocurrencies.

Moreover, positive news surrounding tokens like DigiHorse (DIGI) and DigiBitcoin, being named the best performing tokens in 2024, and the upcoming release of Ubisoft’s web3 game, Champions Tactics: Grimoria Chronicles, add to the overall positive sentiment in the market.

However, it is worth noting that uncertainties and challenges remain, such as regulatory actions from the SEC and ongoing legal battles. These factors may impact market dynamics and contribute to short-term volatility. Therefore, it is essential to closely monitor developments in the regulatory landscape.

Considering the overall evidence and confidence level, the current trend of the cryptocurrency market is expected to remain neutral to upward in the next 8 hours, providing potential opportunities for investors and traders alike.

What is important

The cryptocurrency market has experienced a neutral to trending up trend in the past 24 hours. Key factors influencing the current market sentiment include the performance of top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), positive news surrounding tokens like DigiHorse (DIGI) and DigiBitcoin, and the launch of Ubisoft’s web3 game, Champions Tactics: Grimoria Chronicles. However, regulatory actions and legal battles remain potential challenges impacting market dynamics.

It is important to closely monitor the performance of major cryptocurrencies, regulatory developments, and significant news events that could affect market sentiment. Additionally, staying informed about the latest trends and analysis can provide insights and potential trading opportunities in this dynamic market.

Top 5 – Latest Headlines & Cryptocurrency News

  1. DigiHorse (DIGI), Bitcoin (BTC), Named 2024 Best Performing Tokens; Solana (SOL)Β΄s Price Poised For A Huge Rebound– DigiHorse and Digi Bitcoin named best performing tokens in 2024, SolanaΒ΄s SOL price expected to rebound.
  2. Why Shiba Inu Coin and Dogecoin Price Falling Today?– The Shiba Inu Coin and Dogecoin prices are falling today in the cryptocurrency market.
  3. Shiba Inu Rival Flashing Buy Singal that Triggered the SHIB Price 2021 8,000% Bull Run, Analyst Finds– An analyst finds a buy signal that triggered a bull run in the price of Shiba Inu, a rival to Dogecoin.
  4. Crypto Investors Flocking To Cutoshi (CUTO), The Ethereum-Based Utility Memecoin Set To Rival Dogecoin (DOGE)– Crypto investors are showing interest in CutoShi, an Ethereum-based utility memecoin that aims to rival Dogecoin.
  5. Bitcoin ETFs Record Another Day of Losses; Ethereum ETFs Stay Neutral– Bitcoin ETFs record another day of losses while Ethereum ETFs stay neutral.

Factors DrivingΒ the Growth – Market Sentiment

Positive sentiment can be identified from the mention of tokens like DigiHorse and DigiBitcoin being named the best performing tokens in 2024 and the upcoming launch of Ubisoft’s web3 game, Champions Tactics: Grimoria Chronicles. However, negative sentiment is observed in news related to the decline in Shiba Inu Coin and Dogecoin prices, SEC lawsuits and cross-appeals, and potential price correction in Ethereum. The market remains sensitive to regulatory actions and ongoing legal battles, which can impact investor sentiment and market dynamics.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
15bitcoin
9ripple
8uniswap
6cardano
6cryptocurrency market
6price
6surge
6ubisoft
5cryptocurrencies
5shiba inu

Negative Terms – Sentiment Analysis

OccurrencesKeyword
11sec
9cryptocurrency market
8bitcoin
5lawsuit
4cumberland drw
4dubai
3bearish
3china
3data breach
3fbi

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators for the cryptocurrency market in the provided dataset are not available. Please provide the required dataset for further analysis.

DateValueVariationSource
2024-10-11 00:00:0032pt-7ptAlternative.me
2024-10-10 00:00:0039pt-10ptAlternative.me
2024-10-09 00:00:0049pt0ptAlternative.me
2024-10-11 00:00:0032pt-7ptBinance.com
2024-10-11 00:00:0039pt-10ptBinance.com
2024-10-10 00:00:0039pt-10ptBinance.com
2024-10-10 00:00:0049pt10ptBinance.com
2024-10-09 00:00:0049pt0ptBinance.com
2024-10-11 00:00:0032pt-7ptBitDegree.org
2024-10-10 00:00:0039pt-10ptBitDegree.org
2024-10-09 00:00:0049pt0ptBitDegree.org
2024-10-11 00:00:0060pt-5ptBtcTools.io
2024-10-10 16:00:0065pt1ptBtcTools.io
2024-10-10 08:00:0064pt-4ptBtcTools.io
2024-10-10 00:00:0068pt-1ptBtcTools.io
2024-10-09 00:00:0069pt0ptBtcTools.io
2024-10-08 08:00:0069pt0ptBtcTools.io
2024-10-11 00:00:0032pt-7ptCoinstats.app
2024-10-10 00:00:0039pt-10ptCoinstats.app
2024-10-09 00:00:0049pt0ptCoinstats.app

Bitcoin: Active Addresses

The Bitcoin Address Indicators table in the provided dataset is empty. Please provide a valid dataset for further analysis.

DateAddressesVariationIndicatorSource
2024-10-10 23:00:001,332,269,3300.00%Total Addressesbitaps.com
2024-10-10 23:00:001,279,570,9750.00%Zero Balance Addressesbitaps.com
2024-10-10 23:00:00695,4150.09%Bitcoin Active Addressesbtc.com
2024-10-10 23:00:00540,5450.00%Addresses with over 0bitaps.com
2024-10-10 23:00:00219,3810.00%Addresses with over 0.0000001bitaps.com
2024-10-10 23:00:003,801,7520.00%Addresses with over 0.000001bitaps.com
2024-10-10 23:00:0010,672,1630.00%Addresses with over 0.00001bitaps.com
2024-10-10 23:00:0013,050,8250.01%Addresses with over 0.0001bitaps.com
2024-10-10 23:00:0011,705,7170.00%Addresses with over 0.001bitaps.com
2024-10-10 23:00:008,120,6450.00%Addresses with over 0.01bitaps.com
2024-10-10 23:00:003,572,8370.00%Addresses with over 0.1bitaps.com
2024-10-10 23:00:00861,6250.00%Addresses with over 1bitaps.com
2024-10-10 23:00:00136,8020.00%Addresses with over 10bitaps.com
2024-10-10 23:00:0013,975-0.09%Addresses with over 100bitaps.com
2024-10-10 23:00:001,9880.25%Addresses with over 1,000bitaps.com
2024-10-10 23:00:00960.00%Addresses with over 10,000bitaps.com
2024-10-10 23:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The Economic Events table in the provided dataset is empty. Please provide a valid dataset for further analysis.

DateImpactEvent
2024-10-11 19:30:00ModerateEUR – CFTC EUR speculative net positions
2024-10-11 19:30:00ModerateJPY – CFTC JPY speculative net positions
2024-10-11 19:30:00ModerateBRL – CFTC BRL speculative net positions
2024-10-11 19:30:00ModerateAUD – CFTC AUD speculative net positions
2024-10-11 19:30:00ModerateUSD – CFTC S&P 500 speculative net positions
2024-10-11 19:30:00ModerateUSD – CFTC Nasdaq 100 speculative net positions
2024-10-11 19:30:00ModerateUSD – CFTC Gold speculative net positions
2024-10-11 19:30:00ModerateUSD – CFTC Crude Oil speculative net positions
2024-10-11 19:30:00ModerateGBP – CFTC GBP speculative net positions
2024-10-11 18:00:00ModerateUSD – Federal Budget Balance (Sep)
2024-10-11 17:10:00ModerateUSD – FOMC Member Bowman Speaks
2024-10-11 17:00:00ModerateUSD – U.S. Baker Hughes Total Rig Count
2024-10-11 17:00:00ModerateUSD – U.S. Baker Hughes Oil Rig Count
2024-10-11 16:00:00ModerateRUB – CPI (MoM) (Sep)
2024-10-11 16:00:00ModerateRUB – CPI (YoY) (Sep)
2024-10-11 16:00:00ModerateUSD – WASDE Report
2024-10-11 14:30:00ModerateCAD – BoC Business Outlook Survey
2024-10-11 14:00:00ModerateUSD – Michigan Consumer Sentiment (Oct)
2024-10-11 14:00:00ModerateUSD – Michigan Consumer Expectations (Oct)
2024-10-11 14:00:00ModerateUSD – Michigan 5-Year Inflation Expectations (Oct)
2024-10-11 14:00:00ModerateUSD – Michigan 1-Year Inflation Expectations (Oct)
2024-10-11 14:00:00ModerateConsumer Sentiment Index
2024-10-11 14:00:00ModerateConsumer Sentiment Year-ahead Inflation Expectations
2024-10-11 12:30:00ModerateCAD – Unemployment Rate (Sep)
2024-10-11 12:30:00ModerateCAD – Employment Change (Sep)
2024-10-11 12:30:00ModerateCAD – Building Permits (MoM) (Aug)
2024-10-11 12:30:00HighUSD – PPI (MoM) (Sep)
2024-10-11 12:30:00ModerateUSD – Core PPI (MoM) (Sep)
2024-10-11 12:30:00HighPPI-Final Demand Ex-Food & Energy – Y/Y
2024-10-11 12:30:00HighPPI-Final Demand PPI-FD – M/M
2024-10-11 12:30:00HighPPI-Final Demand Ex-Food, Energy & Trade Services – Y/Y
2024-10-11 12:30:00HighPPI-Final Demand Ex-Food, Energy & Trade Services – M/M
2024-10-11 12:30:00HighPPI-Final Demand PPI-FD – Y/Y
2024-10-11 12:30:00HighPPI-Final Demand Ex-Food & Energy – M/M
2024-10-11 12:00:00ModerateGBP – NIESR Monthly GDP Tracker (Sep)
2024-10-11 07:00:00ModerateCHF – SECO Consumer Climate
2024-10-11 06:00:00HighEUR – German CPI (MoM) (Sep)
2024-10-11 06:00:00ModerateEUR – German CPI (YoY) (Sep)
2024-10-11 06:00:00ModerateGBP – Trade Balance Non-EU (Aug)
2024-10-11 06:00:00ModerateGBP – Trade Balance (Aug)
2024-10-11 06:00:00ModerateGBP – Monthly GDP 3M/3M Change (Aug)
2024-10-11 06:00:00ModerateGBP – Manufacturing Production (MoM) (Aug)
2024-10-11 06:00:00ModerateGBP – Industrial Production (MoM) (Aug)
2024-10-11 06:00:00HighGBP – GDP (MoM) (Aug)
2024-10-10 21:30:00ModerateNZD – Business NZ PMI (Sep)
2024-10-10 20:30:00ModerateUSD – FedΒ΄s Balance Sheet
2024-10-10 18:00:00ModerateUSD – Federal Budget Balance (Sep)
2024-10-10 18:00:00ModerateTreasury Statement Balance
2024-10-10 17:00:00ModerateEUR – German Buba President Nagel Speaks
2024-10-10 17:00:00HighUSD – 30-Year Bond Auction
2024-10-10 15:00:00ModerateUSD – FOMC Member Williams Speaks
2024-10-10 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-10-10 12:30:00HighUSD – Initial Jobless Claims
2024-10-10 12:30:00HighUSD – CPI (YoY) (Sep)
2024-10-10 12:30:00HighUSD – CPI (MoM) (Sep)
2024-10-10 12:30:00ModerateUSD – Core CPI (YoY) (Sep)
2024-10-10 12:30:00HighUSD – Core CPI (MoM) (Sep)
2024-10-10 12:30:00ModerateUSD – Continuing Jobless Claims
2024-10-10 12:30:00HighCPI CPI – Y/Y
2024-10-10 12:30:00HighJobless Claims Initial Claims – Level
2024-10-10 12:30:00HighCPI Ex-Food & Energy- M/M
2024-10-10 12:30:00HighJobless Claims 4-Week Moving Average
2024-10-10 12:30:00HighCPI CPI – M/M
2024-10-10 12:30:00HighCPI Ex-Food & Energy- Y/Y
2024-10-10 12:30:00HighJobless Claims Initial Claims – Change
2024-10-10 12:00:00ModerateBRL – Retail Sales (MoM) (Aug)
2024-10-10 12:00:00ModerateBRL – Retail Sales (YoY) (Aug)
2024-10-10 11:30:00ModerateEUR – ECB Publishes Account of Monetary Policy Meeting
2024-10-10 08:30:00ModerateGBP – BOE Credit Conditions Survey

Crypto Assets Prices

Based on the Prices table, Bitcoin (BTC) and Ethereum (ETH) have experienced price variations in the past 24 hours. While Bitcoin has shown a minor price decrease, Ethereum experienced a slight recovery in its price. It is important to consider the overall market sentiment and factors affecting individual cryptocurrencies when analyzing price movements.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-10-11 07:45:00Bitcoin60,738.07-0.35%-0.271.86%4.030.53%
2024-10-10 07:45:00Bitcoin60,950.16-2.19%-2.13-2.07%3.501.34%
2024-10-09 07:45:00Bitcoin62,284.01-0.01%-0.061.90%2.17-1.82%
2024-10-10 07:45:00Ethereum2,397.17-1.70%-1.59-1.98%5.132.11%
2024-10-09 07:45:00Ethereum2,437.880.37%0.382.47%3.02-1.89%
2024-10-11 07:45:00Binance Coin561.00-1.76%-1.610.34%3.570.08%
2024-10-10 07:45:00Binance Coin570.90-2.10%-1.96-5.40%3.50-0.90%
2024-10-09 07:45:00Binance Coin582.903.41%3.445.70%4.390.41%

CryptocurrencyΒ Capitalization and Volume

The Market Capitalizations and Volumes table reveals fluctuations in the total market capitalization and volume of major cryptocurrencies. While Binance Coin (BNB) shows a slight decrease in capitalization and volume, Bitcoin (BTC) and Ethereum (ETH) display relatively stable capitalization and volume. It is essential to monitor these indicators as they reflect the overall market size and liquidity.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-10-11 00:00:00Binance Coin82,153,915,032-1.24%657,659,105-37.83%
2024-10-10 00:00:00Binance Coin83,184,007,227-1.70%1,057,829,24625.51%
2024-10-09 00:00:00Binance Coin84,620,638,3782.88%842,812,3404.19%
2024-10-11 00:00:00Bitcoin1,191,573,603,473-0.49%30,893,367,2957.70%
2024-10-10 00:00:00Bitcoin1,197,489,896,257-2.52%28,683,928,600-0.51%
2024-10-09 00:00:00Bitcoin1,228,436,830,797-0.13%28,832,106,196-17.64%
2024-10-11 00:00:00Ethereum287,049,138,5460.72%14,577,092,5151.30%
2024-10-10 00:00:00Ethereum285,001,941,074-3.03%14,389,539,4435.08%
2024-10-09 00:00:00Ethereum293,905,880,9690.71%13,693,558,583-20.16%
2024-10-11 00:00:00Tether119,786,866,3040.05%26,107,092,774-42.77%
2024-10-10 00:00:00Tether119,732,740,1270.00%45,615,017,979-6.74%
2024-10-09 00:00:00Tether119,731,322,2020.15%48,914,086,734-16.54%

Cryptocurrency Exchanges Volume and Variation

The Exchanges table provides insights into the volume variations across major cryptocurrency exchanges. Binance, Bitfinex, and Bybit show moderate variations in volume, whereas Coinbase, OKX, and KuCoin display relatively stable volume. Understanding these variations can help assess market liquidity and trading activity across different exchanges.

DateExchangeVolumeVariation
2024-10-11 00:00:00Binance204,127-6.69%
2024-10-10 00:00:00Binance218,751-3.61%
2024-10-09 00:00:00Binance226,933-15.91%
2024-10-11 00:00:00Binance US96-5.88%
2024-10-10 00:00:00Binance US102-0.97%
2024-10-09 00:00:00Binance US103-33.97%
2024-10-11 00:00:00Bitfinex1,82053.07%
2024-10-10 00:00:00Bitfinex1,189-29.85%
2024-10-09 00:00:00Bitfinex1,695-25.30%
2024-10-11 00:00:00Bybit56,855-9.42%
2024-10-10 00:00:00Bybit62,771-4.70%
2024-10-09 00:00:00Bybit65,866-11.90%
2024-10-11 00:00:00Coinbase31,85322.29%
2024-10-10 00:00:00Coinbase26,047-3.62%
2024-10-09 00:00:00Coinbase27,024-12.52%
2024-10-11 00:00:00Crypto.com94,0080.71%
2024-10-10 00:00:00Crypto.com93,3418.42%
2024-10-09 00:00:00Crypto.com86,090-8.94%
2024-10-11 00:00:00Gate.io25,2300.86%
2024-10-10 00:00:00Gate.io25,015-10.52%
2024-10-09 00:00:00Gate.io27,955-6.36%
2024-10-11 00:00:00Kraken11,0125.13%
2024-10-10 00:00:00Kraken10,4752.83%
2024-10-09 00:00:00Kraken10,187-18.16%
2024-10-11 00:00:00KuCoin9,1947.66%
2024-10-10 00:00:00KuCoin8,540-10.34%
2024-10-09 00:00:00KuCoin9,525-12.63%
2024-10-11 00:00:00OKX26,3363.70%
2024-10-10 00:00:00OKX25,3960.77%
2024-10-09 00:00:00OKX25,202-28.58%

Mining – Blockchain Technology

The Mining table presents data related to the mining difficulty, mined blocks, block rewards, and hash rate in the cryptocurrency market. Notably, the mining difficulty has remained relatively stable, but slight variations in block count and hash rate can be observed. These mining indicators reflect the computational power and effort expended in securing blockchain networks.

Item2024-10-112024-10-102024-10-092024-10-082024-10-072024-10-06
Difficulty92.05T92.05T88.40T88.40T88.40T88.40T
Difficulty Variation0.00%4.12%0.00%0.00%0.00%0.00%
Blocks865.11K864.96K864.83K864.66K864.51K864.36K
Blocks Variation0.02%0.01%0.02%0.02%0.02%0.02%
Reward BTC3.133.133.133.133.133.13
Reward BTC Variation0.00%0.00%0.00%0.00%0.00%0.00%
Hash Rate GB714.92B581.40B734.42B668.48B676.82B668.48B
Hash Rate GB Variation22.97%-20.84%9.86%-1.23%1.25%-11.09%

Conclusion

In conclusion, the cryptocurrency market has shown a neutral to trending up trend in the past 24 hours. Positive news surrounding tokens like DigiHorse and DigiBitcoin, upcoming blockchain game releases, and the resilience of major cryptocurrencies like Bitcoin and Ethereum contribute to the positive sentiment. However, challenges such as regulatory actions and legal battles generate negative sentiment and market uncertainties. It is crucial to closely monitor market dynamics, regulatory developments, and the performance of individual cryptocurrencies for informed decision-making.

So What

The current state of the cryptocurrency market has practical implications for investors and traders. With the overall positive sentiment and potential upward trend, there may be opportunities for profit and growth. However, it is important to exercise caution and consider risk management strategies due to the potential volatility and uncertainties. Staying updated with the latest news and market analysis can assist in making informed decisions in this dynamic and evolving market.

What next?

Looking ahead, it is recommended to closely monitor regulatory developments, such as SEC actions and legal proceedings, as they can significantly impact the cryptocurrency market. Additionally, keeping an eye on the performance of major cryptocurrencies, upcoming releases in the blockchain gaming sector, and market indicators like price movements, market capitalization, and trading volumes will provide insights into potential opportunities and risks in the near future.

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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