πŸ“ƒ Oct 18, 2024 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

In the last 24 hours, the cryptocurrency market has shown a neutral to slightly upward trend. While there have been fluctuations in the prices of major cryptocurrencies, such as Bitcoin and Ethereum, overall market sentiment remains positive. This trend is supported by several factors. Firstly, the launch of Kraken’s Wrapped Bitcoin token (KBTC) has generated excitement and is expected to boost Bitcoin adoption. Additionally, the announcement by Grayscale about considering launching a Dogecoin ETF indicates growing interest in the meme cryptocurrency. Moreover, Ethereum’s surge roadmap aiming for 100,000+ transactions per second demonstrates the project’s focus on scalability and improvement. However, the market is not without negative news, as the FBI’s arrest of an alleged hacker linked to a fake SEC Bitcoin ETF tweet raises concerns about security and misinformation. Overall, the evidence suggests a slightly positive sentiment, but caution is advised due to potential volatility in the market.

What is important

Key points to understand the current state of the cryptocurrency market:

– The market is currently showing a neutral to slightly upward trend, with positive sentiment prevailing.
– Kraken’s launch of the Wrapped Bitcoin token (KBTC) is expected to bolster Bitcoin adoption.
– Grayscale’s consideration of a Dogecoin ETF indicates growing interest in the meme cryptocurrency.
– Ethereum’s surge roadmap targeting 100,000+ transactions per second demonstrates the project’s commitment to scalability and improvement.
– Caution is advised due to potential volatility and the recent arrest of an alleged hacker linked to a fake SEC Bitcoin ETF tweet.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Crypto Exchange Kraken Launches Wrapped Bitcoin Token kBTC– Crypto exchange Kraken launches Wrapped Bitcoin token (KBTC).
  2. Just-In: Kraken Rolls Out Wrapped Bitcoin kBTC To Boost BTC Adoption– Kraken has introduced Wrapped Bitcoin (KBTC) to promote Bitcoin adoption.
  3. FBI Arrests Alleged SEC Hacker Linked to Fake Tweet Saying Bitcoin ETFs Were Approved– The FBI has arrested an alleged SEC hacker who was linked to a fake tweet claiming that Bitcoin ETFs were approved.
  4. FBI arrests Β΄AGiantSchnauzerΒ΄, the Alabama man behind SEC Bitcoin hack– The FBI arrests AGiantSchnauzer, an Alabama man, for hacking the SEC Bitcoin.
  5. FBI arrests alleged hacker behind fake SEC bitcoin ETF X post– The FBI has arrested an alleged hacker behind a fake SEC Bitcoin ETF.

Factors DrivingΒ the Growth – Market Sentiment

In the last 24 hours, the most mentioned positive sentiment keywords in the news include ‘bitcoin,’ ‘ethereum,’ ‘dogecoin,’ and ‘surge.’ On the other hand, negative sentiment keywords such as ‘FBI,’ ‘arrests,’ ‘hacker,’ and ‘fake’ have also gained attention. It is essential to consider both positive and negative news headlines to gain a holistic view of the market sentiment.

Positive Terms – Sentiment Analysis

Occurrences Keyword
24 bitcoin
11 ethereum
10 dogecoin
9 cryptocurrency
8 cryptocurrency market
7 surge
7 xrp
6 kraken
6 shiba inu
6 solana

Negative Terms – Sentiment Analysis

Occurrences Keyword
7 fbi
4 arrests
4 bitcoin
4 hacker
4 sec
3 ambient finance
3 capital gains tax
3 donald trump
3 fake
3 italy

Crypto Investor Fear & Greed Index

Fear and Greed Indicators, which represent the sentiment in the cryptocurrency market, have shown readings between 48pt and 73pt. These readings fall into the fear and greed categories, indicating a mixture of emotions among market participants. While fear may be present due to factors such as potential regulatory actions or market volatility, there is also evidence of greed driven by expectations of price increases. It is crucial to monitor these indicators and consider them alongside other factors when making investment decisions.

Date Value Variation Source
2024-10-17 00:00:00 71pt -2pt Alternative.me
2024-10-17 00:00:00 73pt 0pt Alternative.me
2024-10-16 00:00:00 65pt 0pt Alternative.me
2024-10-16 00:00:00 73pt 8pt Alternative.me
2024-10-15 00:00:00 48pt 0pt Alternative.me
2024-10-15 00:00:00 65pt 17pt Alternative.me
2024-10-17 00:00:00 71pt -2pt Binance.com
2024-10-17 00:00:00 73pt 0pt Binance.com
2024-10-16 00:00:00 65pt 0pt Binance.com
2024-10-16 00:00:00 73pt 8pt Binance.com
2024-10-15 00:00:00 48pt 0pt Binance.com
2024-10-15 00:00:00 65pt 17pt Binance.com
2024-10-17 00:00:00 73pt 8pt BitDegree.org
2024-10-16 00:00:00 65pt 17pt BitDegree.org
2024-10-15 00:00:00 48pt 0pt BitDegree.org
2024-10-17 16:00:00 66pt 1pt BtcTools.io
2024-10-17 08:00:00 65pt 1pt BtcTools.io
2024-10-17 00:00:00 64pt 2pt BtcTools.io
2024-10-16 08:00:00 62pt -3pt BtcTools.io
2024-10-16 00:00:00 65pt -2pt BtcTools.io
2024-10-15 08:00:00 67pt 2pt BtcTools.io
2024-10-15 00:00:00 65pt 0pt BtcTools.io
2024-10-17 00:00:00 71pt -2pt Coinstats.app
2024-10-16 00:00:00 73pt 8pt Coinstats.app
2024-10-15 00:00:00 65pt 0pt Coinstats.app

Bitcoin: Active Addresses

Bitcoin Address Indicators show variations in the number of addresses with different balance thresholds. The dataset indicates stable figures for addresses with minimum balances of over 0.00001 BTC and over 0.0001 BTC. However, the number of zero balance addresses and addresses with balances over 1 BTC has slightly decreased. These indicators provide insights into the activity and distribution of Bitcoin wallets, which are important factors to consider in analyzing market dynamics.

Date Addresses Variation Indicator Source
2024-10-17 13:00:00 1,333,997,235 0.00% Total Addresses bitaps.com
2024-10-17 13:00:00 1,281,337,982 0.00% Zero Balance Addresses bitaps.com
2024-10-17 13:00:00 665,145 0.97% Bitcoin Active Addresses btc.com
2024-10-17 13:00:00 540,546 0.00% Addresses with over 0 bitaps.com
2024-10-17 13:00:00 219,381 0.00% Addresses with over 0.0000001 bitaps.com
2024-10-17 13:00:00 3,810,624 0.00% Addresses with over 0.000001 bitaps.com
2024-10-17 13:00:00 10,586,220 0.00% Addresses with over 0.00001 bitaps.com
2024-10-17 13:00:00 13,099,753 0.00% Addresses with over 0.0001 bitaps.com
2024-10-17 13:00:00 11,703,683 -0.01% Addresses with over 0.001 bitaps.com
2024-10-17 13:00:00 8,117,750 -0.01% Addresses with over 0.01 bitaps.com
2024-10-17 13:00:00 3,567,961 -0.01% Addresses with over 0.1 bitaps.com
2024-10-17 13:00:00 860,301 -0.03% Addresses with over 1 bitaps.com
2024-10-17 13:00:00 136,706 -0.03% Addresses with over 10 bitaps.com
2024-10-17 13:00:00 14,237 0.04% Addresses with over 100 bitaps.com
2024-10-17 13:00:00 1,990 -0.05% Addresses with over 1,000 bitaps.com
2024-10-17 13:00:00 97 1.03% Addresses with over 10,000 bitaps.com
2024-10-17 13:00:00 4 0.00% Addresses with over 100,000 bitaps.com

Economic events to move the cryptocurrency market

The economic events in the last 24 hours include housing starts and permits data, national CPI announcements for JPY, Fed’s balance sheet update, and various other reports related to production, inventory, and trade balances. These events can have an impact on the respective economies and consequently influence the cryptocurrency market. Traders and investors should monitor these events to assess potential correlations with price movements and market sentiment.

Date Impact Event
2024-10-18 12:30:00 High Housing Starts and Permits Starts – Annual Rate
2024-10-18 12:30:00 High Housing Starts and Permits Permits – Annual Rate
2024-10-17 23:30:00 Moderate JPY – National CPI (MoM)
2024-10-17 23:30:00 Moderate JPY – National Core CPI (YoY) (Sep)
2024-10-17 20:30:00 Moderate USD – FedΒ΄s Balance Sheet
2024-10-17 20:00:00 Moderate USD – TIC Net Long-Term Transactions (Aug)
2024-10-17 20:00:00 Moderate GBP – BoE Deputy Governor Woods Speaks
2024-10-17 20:00:00 Moderate Treasury International Capital Net Long-Term Securities Transactions
2024-10-17 18:00:00 Moderate USD – Federal Budget Balance (Sep)
2024-10-17 16:00:00 Moderate USD – Atlanta Fed GDPNow (Q3)
2024-10-17 15:00:00 Moderate USD – Cushing Crude Oil Inventories
2024-10-17 15:00:00 High USD – Crude Oil Inventories
2024-10-17 15:00:00 High EIA Petroleum Status Report Crude Oil Inventories – W/W
2024-10-17 15:00:00 High EIA Petroleum Status Report Gasoline Inventories – W/W
2024-10-17 15:00:00 High EIA Petroleum Status Report Distillate Inventories – W/W
2024-10-17 14:30:00 Moderate EIA Natural Gas Report Week over Week
2024-10-17 14:15:00 Moderate EUR – ECB President Lagarde Speaks
2024-10-17 14:00:00 Moderate USD – Retail Inventories Ex Auto (Aug)
2024-10-17 14:00:00 Moderate USD – Business Inventories (MoM) (Aug)
2024-10-17 14:00:00 Moderate Business Inventories Wholesale Inventories
2024-10-17 14:00:00 Moderate Housing Market Index Index
2024-10-17 14:00:00 Moderate Business Inventories Retail Inventories
2024-10-17 14:00:00 Moderate Business Inventories Month over Month
2024-10-17 14:00:00 Moderate Business Inventories Manufacturing Inventories
2024-10-17 13:15:00 Moderate USD – Industrial Production (YoY) (Sep)
2024-10-17 13:15:00 Moderate USD – Industrial Production (MoM) (Sep)
2024-10-17 13:15:00 High Industrial Production Manufacturing Output – M/M
2024-10-17 13:15:00 High Industrial Production Industrial Production – M/M
2024-10-17 13:15:00 High Industrial Production Capacity Utilization Rate
2024-10-17 12:45:00 High EUR – ECB Press Conference
2024-10-17 12:30:00 Moderate CAD – Foreign Securities Purchases (Aug)
2024-10-17 12:30:00 High USD – Retail Sales (MoM) (Sep)
2024-10-17 12:30:00 Moderate USD – Retail Control (MoM) (Sep)
2024-10-17 12:30:00 Moderate USD – Philly Fed Employment (Oct)
2024-10-17 12:30:00 High USD – Philadelphia Fed Manufacturing Index (Oct)
2024-10-17 12:30:00 High USD – Initial Jobless Claims
2024-10-17 12:30:00 High USD – Core Retail Sales (MoM) (Sep)
2024-10-17 12:30:00 Moderate USD – Continuing Jobless Claims
2024-10-17 12:30:00 High Jobless Claims 4-Week Moving Average
2024-10-17 12:30:00 High Jobless Claims Initial Claims – Level
2024-10-17 12:30:00 High Jobless Claims Initial Claims – Change
2024-10-17 12:30:00 High Retail Sales Ex-Vehicles – M/M
2024-10-17 12:30:00 High Retail Sales Ex-Vehicles & Gas – M/M
2024-10-17 12:30:00 Moderate Philadelphia Fed Manufacturing Index Index
2024-10-17 12:30:00 High Retail Sales Retail Sales – M/M
2024-10-17 12:15:00 High EUR – ECB Interest Rate Decision (Oct)
2024-10-17 12:15:00 Moderate EUR – ECB Monetary Policy Statement
2024-10-17 12:15:00 Moderate EUR – ECB Marginal Lending Facility
2024-10-17 12:15:00 High EUR – Deposit Facility Rate (Oct)
2024-10-17 10:00:00 Moderate EUR – EU Leaders Summit
2024-10-17 09:45:00 Moderate EUR – ECB McCaul Speaks
2024-10-17 09:00:00 Moderate EUR – Trade Balance (Aug)
2024-10-17 09:00:00 High EUR – CPI (YoY) (Sep)
2024-10-17 09:00:00 Moderate EUR – CPI (MoM) (Sep)
2024-10-17 09:00:00 Moderate EUR – Core CPI (YoY) (Sep)
2024-10-17 08:15:00 Moderate EUR – ECB McCaul Speaks
2024-10-17 00:30:00 Moderate AUD – Unemployment Rate (Sep)
2024-10-17 00:30:00 Moderate AUD – Full Employment Change (Sep)
2024-10-17 00:30:00 Moderate AUD – Employment Change (Sep)
2024-10-16 23:50:00 Moderate JPY – Trade Balance (Sep)
2024-10-16 23:50:00 Moderate JPY – Exports (YoY) (Sep)
2024-10-16 23:50:00 Moderate JPY – Adjusted Trade Balance

Crypto Assets Prices

The prices of major cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin have shown slight variations. Bitcoin’s price has exhibited a positive sentiment, with a minor increase in the last 24 hours. Ethereum has also experienced a minimal price improvement. However, Binance Coin has shown a more significant positive variation in its price. These price movements reflect the overall positive sentiment observed in the market, indicating continuing interest and support for these cryptocurrencies.

Date Cryptocurrency Price Price Variation 24h Variation 24h Variation Difference 24h Volatility 24h Volatility Difference
2024-10-16 23:47:00 Bitcoin 67,661.10 0.83% 0.88 -0.66% 2.51 -2.35%
2024-10-15 23:47:00 Bitcoin 67,100.00 1.46% 1.54 -3.63% 4.86 -1.61%
2024-10-16 23:47:00 Ethereum 2,611.72 0.20% 0.17 1.05% 2.28 -3.68%
2024-10-15 23:47:00 Ethereum 2,606.60 -0.89% -0.88 -7.40% 5.96 -2.66%
2024-10-16 23:47:00 Binance Coin 600.60 1.08% 1.01 0.14% 2.68 -1.16%
2024-10-15 23:47:00 Binance Coin 594.10 0.88% 0.87 -2.03% 3.84 -2.13%

CryptocurrencyΒ Capitalization and Volume

The market capitalizations and volumes of major cryptocurrencies exhibit relatively stable figures in the past 24 hours. Bitcoin remains the largest cryptocurrency by market capitalization, followed by Ethereum and Tether. The total trading volume across different exchanges indicates a mixed trend, with variations in trading activity across platforms. Traders should consider these metrics alongside other factors such as liquidity and market depth to analyze the overall market conditions.

Date Cryptocurrency Capitalization Capitalization Variation Volume Volume Variation
2024-10-17 00:00:00 Binance Coin 87,593,048,223 0.92% 919,728,035 -18.17%
2024-10-16 00:00:00 Binance Coin 86,794,320,173 1.02% 1,123,954,738 27.21%
2024-10-15 00:00:00 Binance Coin 85,915,397,137 2.91% 883,567,932 76.15%
2024-10-17 00:00:00 Bitcoin 1,336,395,569,894 0.75% 39,907,763,606 -22.75%
2024-10-16 00:00:00 Bitcoin 1,326,385,992,180 1.58% 51,661,735,842 10.46%
2024-10-15 00:00:00 Bitcoin 1,305,753,625,618 5.06% 46,769,667,396 159.44%
2024-10-17 00:00:00 Ethereum 314,241,517,146 0.18% 16,238,004,324 -26.10%
2024-10-16 00:00:00 Ethereum 313,664,753,312 -0.91% 21,973,956,819 1.87%
2024-10-15 00:00:00 Ethereum 316,543,434,386 6.55% 21,570,962,681 196.72%
2024-10-17 00:00:00 Tether 119,964,271,080 0.11% 58,743,466,118 -3.62%
2024-10-16 00:00:00 Tether 119,836,389,786 0.12% 60,951,143,513 87.62%
2024-10-15 00:00:00 Tether 119,696,539,286 -0.01% 32,486,973,463 29.55%

Cryptocurrency Exchanges Volume and Variation

The major cryptocurrency exchanges, including Binance, Binance US, Bitfinex, Bybit, Coinbase, Crypto.com, Gate.io, Kraken, KuCoin, and OKX, have experienced varying trading volumes in the past 24 hours. The data suggests fluctuations in trading activity, with some exchanges showing increases while others have experienced slight decreases. It is essential to closely monitor trading volumes on these exchanges as they can influence price movements and market sentiment.

Date Exchange Volume Variation
2024-10-17 00:00:00 Binance 231,127 -26.48%
2024-10-16 00:00:00 Binance 314,375 18.53%
2024-10-15 00:00:00 Binance 265,233 92.35%
2024-10-17 00:00:00 Binance US 127 -30.98%
2024-10-16 00:00:00 Binance US 184 0.00%
2024-10-15 00:00:00 Binance US 184 166.67%
2024-10-17 00:00:00 Bitfinex 3,128 10.76%
2024-10-16 00:00:00 Bitfinex 2,824 19.41%
2024-10-15 00:00:00 Bitfinex 2,365 44.12%
2024-10-17 00:00:00 Bybit 57,942 -25.23%
2024-10-16 00:00:00 Bybit 77,492 15.71%
2024-10-15 00:00:00 Bybit 66,971 87.89%
2024-10-17 00:00:00 Coinbase 35,829 -15.19%
2024-10-16 00:00:00 Coinbase 42,247 12.32%
2024-10-15 00:00:00 Coinbase 37,614 166.14%
2024-10-17 00:00:00 Crypto.com 75,562 -19.51%
2024-10-16 00:00:00 Crypto.com 93,882 -2.66%
2024-10-15 00:00:00 Crypto.com 96,451 110.81%
2024-10-17 00:00:00 Gate.io 25,855 -41.31%
2024-10-16 00:00:00 Gate.io 44,050 44.27%
2024-10-15 00:00:00 Gate.io 30,532 62.22%
2024-10-17 00:00:00 Kraken 10,785 -28.34%
2024-10-16 00:00:00 Kraken 15,050 10.36%
2024-10-15 00:00:00 Kraken 13,637 191.64%
2024-10-17 00:00:00 KuCoin 10,013 -25.39%
2024-10-16 00:00:00 KuCoin 13,420 -0.86%
2024-10-15 00:00:00 KuCoin 13,536 103.06%
2024-10-17 00:00:00 OKX 32,213 -30.95%
2024-10-16 00:00:00 OKX 46,649 4.24%
2024-10-15 00:00:00 OKX 44,750 164.93%

Mining – Blockchain Technology

Mining activity in the cryptocurrency market, as represented by the mining difficulty, number of blocks mined, block rewards, and hash rate, remains relatively stable in the past 24 hours. The mining difficulty has not shown significant variations, indicating a steady computational mining capacity. The number of blocks mined and block rewards have maintained consistent figures. However, there has been a slight fluctuation in the hash rate, signifying some adjustments in the computational power dedicated to mining. These metrics provide insights into the ongoing mining operations and the overall network security of cryptocurrencies.

Item 2024-10-17 2024-10-16 2024-10-15 2024-10-14 2024-10-13 2024-10-12 2024-10-11
Difficulty 92.05T 92.05T 92.05T 92.05T 92.05T 92.05T 92.05T
Difficulty Variation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Blocks 865.97K 865.83K 865.67K 865.53K 865.39K 865.25K 865.11K
Blocks Variation 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Reward BTC 3.13 3.13 3.13 3.13 3.13 3.13 3.13
Reward BTC Variation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Hash Rate GB 650.25B 714.92B 631.55B 636.63B 646.00B 646.00B 714.92B
Hash Rate GB Variation -9.05% 13.20% -0.80% -1.45% 0.00% -9.64% 22.97%

Conclusion

In conclusion, the cryptocurrency market is currently experiencing a neutral to slightly upward trend, supported by positive developments such as the launch of Wrapped Bitcoin (KBTC) and considerations for a Dogecoin ETF. However, caution is advised due to potential volatility and recent cybersecurity-related news. Monitoring key indicators, market sentiment, and significant news events can help inform investment decisions. Furthermore, paying attention to technological advancements, regulatory developments, and the overall global economic landscape can provide valuable insights into the future direction of the cryptocurrency market.

So What

The current state of the cryptocurrency market has practical implications for traders and investors. With the market showing a neutral to slightly upward trend, it may present opportunities for profit-taking and strategic investments. However, it is crucial to remain cautious and consider risk management strategies due to potential volatility and the presence of negative news. Staying informed about market sentiment, industry developments, and regulatory changes is essential to navigate this evolving landscape effectively.

What next?

Looking forward, it is important to closely monitor any further developments in terms of market sentiment, regulatory actions, technological advancements, and economic indicators. These factors will play a crucial role in shaping the future of the cryptocurrency market. Additionally, traders and investors should stay vigilant and adapt their strategies accordingly to manage risk effectively. By staying informed and remaining adaptable, market participants can position themselves for potential opportunities and mitigate potential risks in the dynamic cryptocurrency market.

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.