📃 Oct 24, 2026 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Down

The crypto market is trending down, especially for major assets, though some indicators offer a mixed view. Bitcoin fell 0.66% to $81,734.56 on October 23, after a 1.00% drop to $82,274.74 the day before. Ethereum mirrored that move, dropping 0.99% to $2,404.29 on October 23 and 1.01% to $2,428.11 on October 22. Market capitalization also shrank: Bitcoin’s fell 0.29% to $1.63 trillion on October 24, while Ethereum’s dipped 0.09% to $291.28 billion. Ripple’s market cap also declined 1.03% to $81.71 billion.

Trading volumes plunged across major cryptocurrencies and exchanges. Bitcoin’s volume dropped 27.51% to $24.17 billion on October 24, and Ethereum’s fell 22.47% to $9.92 billion. Binance’s volume decreased 22.31% to $84,441 that day. Coinbase saw a 21.86% reduction to $15,632, and Bitfinex plunged 41.34% to $2,032. This broad contraction in trading activity points to cooling market participation.

Sentiment indicators are mixed. Alternative.me and Milkroad.com reported a ‘Greed’ index of 51pt on October 24, but Coinstats.app showed ‘Fear’ at 46pt at 00:30:00 that day, down from 54pt (‘Greed’) on October 22. News sentiment also skews negative, with reports of lawsuits against figures like former President Trump and NovaTech founders, plus $635 million in Bitcoin ETF outflows. These outflows hit as Bitcoin tested the $81,000 support level, signaling bearish sentiment among some investors. Still, Franklin Templeton is moving closer to launching two Bitcoin DRIP ETFs on Nasdaq, which could offer future support.

Bitcoin’s hash rate jumped 36.09% to 1.22T GB on October 24, after falling 15.26% the day before. This shows a contrasting signal from mining data. The surge in computational power suggests miners remain confident despite price fluctuations. Difficulty, however, held steady at 140.58T from October 22 to October 24. With recent price and volume declines for Bitcoin and Ethereum, mostly negative news, and sentiment shifting to fear on some gauges, the market may look neutral to trending down for the next 8 hours. The hash rate increase offers some underlying network strength, but immediate price action and trading volumes call for caution. Our confidence in this assessment is moderate; crypto markets can reverse quickly, but current data suggests continued pressure.

What is important

The crypto market is contracting, with major assets like Bitcoin and Ethereum seeing price and market capitalization declines. Bitcoin’s price fell 0.66% on October 23, and its market cap decreased 0.29% on October 24. Ethereum followed a similar path, with a 0.99% price drop on October 23 and a 0.09% market cap reduction on October 24.

Trading volumes across most major exchanges and cryptocurrencies are significantly down, signaling reduced market activity. Binance’s volume dropped 22.31% on October 24, and Bitcoin’s trading volume decreased 27.51% that same day. This widespread reduction in liquidity points to a cautious approach from traders.

Market sentiment is mixed but apprehensive, with the Coinstats.app Fear & Greed Index hitting ‘Fear’ at 46pt on October 24. Negative news, including $635 million in Bitcoin ETF outflows and several high-profile lawsuits, fuels this sentiment. Still, Bitcoin’s mining hash rate jumped a substantial 36.09% on October 24, suggesting underlying network resilience.

Top 5 – Latest Headlines & Cryptocurrency News

👎 Bitcoin ETF outflows hit $635M as BTC price tests $81K support
– Bitcoin ETF outflows reached $635 million, the largest single-day outflow recorded. This significant capital flight occurred as Bitcoin´s price tested the $81,000 support level. The substantial outflows suggest a potential bearish sentiment among investors, despite Bitcoin´s resilience around the key support.

👎 Trump Sued by Circle Shareholder Over $2 Billion in UAE Crypto Money
– A Circle shareholder has filed a lawsuit against former President Trump´s associates, alleging a conspiracy to manipulate the cryptocurrency market. The suit claims that Liberty Reserve, a now-defunct digital currency, was used in a scheme involving “Trump World” figures to launder money and defraud investors. The plaintiff seeks damages for losses incurred due to this alleged illicit activity.

👎 New York Seeks $1.37B From Novatech Founders in Crypto Fraud Case
– New York is seeking over $1.37 billion from the founders of NovaTech, alleging a massive cryptocurrency fraud scheme. The founders are accused of defrauding over 11,000 investors through a fraudulent crypto investment platform. This action highlights the increasing regulatory scrutiny on the crypto industry.

👎 Ethereum Delays Glamsterdam Testing After 13 Contracts Trigger Concerns
– Ethereum´s planned “Gla Amsterdam” testnet upgrade has been postponed due to concerns arising from 13 contracts that triggered issues. The delay is necessary to address these problems and ensure the stability and security of the network before proceeding with the upgrade.

👍 Franklin Templeton moves closer to launching two Bitcoin DRIP ETFs on Nasdaq
– Franklin Templeton is reportedly nearing the launch of two Bitcoin-related exchange-traded funds (ETFs) on the Nasdaq. This move signifies a significant step for traditional finance entering the digital asset space, potentially increasing accessibility and legitimacy for Bitcoin investments.

Factors Driving the Growth – Market Sentiment

Keyword analysis over the last 24 hours shows a dual focus on both opportunities and challenges in crypto. The term “cryptocurrency” appeared 19 times in both positive and negative contexts, showing its central role in current discussions. Bitcoin also came up frequently, with 11 positive mentions tied to its boom and ETF developments, against 9 negative ones concerning price drops. Positive keywords like “self-custody” (10 occurrences), “adoption” (5), and “franklin templeton” (6) highlight ongoing efforts to enhance user control and institutional integration. Conversely, negative keywords such as “investors” (7), “lawsuit” (6), “novatech” (5), and “fraud” (implied by lawsuit contexts) point to regulatory scrutiny and security concerns. The repeated appearance of “price” (4 negative occurrences) reflects market sensitivity to value fluctuations, while “ethereum” (5 negative occurrences) signals specific challenges for that asset, including testnet setbacks.

Positive Terms – Sentiment Analysis

Negative Terms – Sentiment Analysis

Crypto Investor Fear & Greed Index

The Fear and Greed Index shows fluctuating sentiment across different sources. Alternative.me, BitDegree.org, and Milkroad.com all reported ‘Greed’ at 51pt on October 24, a 1pt increase from the 50pt recorded on October 23. However, this 51pt value is a notable drop from the 68pt ‘Greed’ seen on October 22, signaling a shift away from stronger bullish sentiment. Coinstats.app, with more granular data, showed ‘Fear’ at 46pt at 00:30:00 on October 24, after a 47pt ‘Fear’ reading at 00:00:00 that same day. This contrasts with Coinstats.app’s ‘Greed’ reading of 54pt on October 22, suggesting a more pronounced move towards fear on their platform. The varied readings point to mixed market sentiment, with some sources still registering greed while others have dipped into fear, reflecting recent price volatility.

Bitcoin: Active Addresses

Bitcoin address indicators show a slight expansion in total addresses. On October 24 at 07:00:00, total addresses reached 1,555,853,155, according to bitaps.com. Zero balance addresses hit 1,498,650,821 by 07:00:00 on October 24. Addresses holding over 0 BTC remained stable at 541,164 on October 24, with no change reported at 07:00:00. Addresses with over 0.000001 BTC reached 5,022,048 by 07:00:00 on October 24, showing no variation. Larger balance categories, like addresses with over 1 BTC, stood at 820,224 at 07:00:00 on October 24, with no reported change. Addresses with over 10,000 BTC remained at 84 at 07:00:00 on October 24, also showing no variation. The ‘Bitcoin Active Addresses’ indicator from btc.com showed no data for August 8, 2026, indicating a gap in that specific metric.

Economic events to move the cryptocurrency market

Global economic events on October 23 had a moderate impact, focusing on consumer sentiment and manufacturing data. At 14:00:00, several Consumer Sentiment indicators were released: Year-ahead Inflation Expectations, Consumer Sentiment Index % Change, and the Consumer Sentiment Index itself. These metrics offer insight into consumer confidence and their outlook on future economic conditions. Earlier, at 13:45:00, PMI Composite Flash data came out, covering the Manufacturing Index, Composite Index, and Services Index. These Purchasing Managers’ Index figures provide a snapshot of economic activity in key sectors. While these events don’t directly tie to crypto prices, shifts in consumer confidence or manufacturing output can influence broader financial markets, potentially affecting investor appetite for risk assets like cryptocurrencies.

Crypto Assets Prices

Major crypto prices declined on October 23. Bitcoin’s price fell 0.66% to $81,734.56 at 07:30:00 on October 23, after a 1.00% drop to $82,274.74 on October 22. Its 24h variation was -0.61% on October 23, with volatility at 1.64%. Ethereum also saw a decrease, its price dropping 0.99% to $2,404.29 at 07:30:00 on October 23, after a 1.01% decline to $2,428.11 on October 22. Ethereum’s 24h variation was -1.07% on October 23, and its volatility stood at 2.98%. In contrast, Binance Coin’s price increased 0.91% to $744.55 at 07:30:00 on October 23, showing a positive 24h variation of 0.98% and volatility of 2.66%. This followed a 1.09% price drop on October 22. The data points to general downward pressure on Bitcoin and Ethereum prices, while Binance Coin managed a modest recovery.

Cryptocurrency Capitalization and Volume

Market capitalizations and trading volumes for major cryptocurrencies largely declined on October 24. Bitcoin’s capitalization decreased 0.29% to $1.63 trillion, with its volume dropping significantly by 27.51% to $24.17 billion. Ethereum also saw its capitalization fall 0.09% to $291.28 billion, and its volume dropped 22.47% to $9.92 billion. Ripple’s market cap was down 1.03% to $81.71 billion, with a 15.86% reduction in volume to $1.31 billion. Tether, a stablecoin, saw a minor 0.04% decrease in capitalization to $182.57 billion, accompanied by a 20.79% drop in volume to $43.21 billion. Binance Coin was an exception, its capitalization increasing 1.15% to $97.19 billion on October 24, and its volume rising 33.21% to $929.88 million, contrasting the general market trend.

Cryptocurrency Exchanges Volume and Variation

Trading volumes across major crypto exchanges saw widespread declines on October 24. Binance, the largest exchange by volume, recorded a 22.31% decrease to $84,441. Coinbase’s volume fell 21.86% to $15,632, and Crypto.com saw a 20.99% reduction to $6,568. Other major exchanges also reported lower volumes: OKX was down 18.85% to $18,811, Kraken decreased 18.21% to $12,690, and Gate.io saw a 15.78% drop to $18,947. Bybit’s volume declined 13.96% to $21,033, and KuCoin’s volume was down 12.68% to $12,797. Bitfinex registered the most substantial percentage drop, its volume falling 41.34% to $2,032. Binance US also saw a 12.55% decrease to $223. This collective reduction in trading activity across multiple platforms points to a broad cooling in market participation.

Mining – Blockchain Technology

Bitcoin mining indicators show stable difficulty but a notable hash rate fluctuation. Mining difficulty remained constant at 140.58T from October 22 through October 24, after a 5.92% increase on October 22. Mined blocks continued their steady increase, reaching 972.85K on October 24, a 0.02% rise from the previous day. The reward per BTC block also held firm at 3.13 BTC, with no variation across the observed period. The hash rate, representing computational power dedicated to mining, saw a significant 36.09% increase to 1.22T GB on October 24. This surge followed a 15.26% decrease to 894.48B GB on October 23 and an 8.57% decrease to 1.06T GB on October 22. The substantial hash rate increase on October 24 indicates a renewed or sustained commitment from miners, despite recent price and volume downturns.

Taking stock

The crypto market is in a complex period of declining asset values and reduced trading, yet its infrastructure shows underlying resilience. Bitcoin and Ethereum, the market’s largest assets, have seen consistent price depreciation and shrinking market capitalizations over the past two days. Bitcoin’s price fell to $81,734.56 on October 23, and Ethereum’s to $2,404.29 that same day. This downturn is compounded by a broad reduction in trading volumes across major exchanges, like Binance’s 22.31% volume drop on October 24, signaling a cautious stance among market participants.

Sentiment indicators reflect this apprehension, with the Coinstats.app Fear & Greed Index moving into ‘Fear’ territory at 46pt on October 24. This shift is further influenced by negative news, including $635 million in Bitcoin ETF outflows and multiple lawsuits targeting prominent figures and crypto firms. These developments show ongoing regulatory and security challenges that are shaping investor perceptions.

Despite these headwinds, Bitcoin mining shows robust activity. The hash rate surged 36.09% to 1.22T GB on October 24, indicating miners are maintaining or increasing their operational capacity. This sustained mining effort, alongside stable difficulty and block rewards, suggests long-term confidence in the network’s fundamentals, even as short-term market dynamics present challenges.

So What

Current market conditions suggest heightened caution for anyone in crypto. Bitcoin’s price testing the $81,000 support level on October 23, coupled with $635 million in ETF outflows, indicates significant selling pressure. For holders, this means watching key support levels for potential further declines. New entrants might find current prices more attractive, but the widespread drop in exchange volumes, like Coinbase’s 21.86% decrease on October 24, points to lower liquidity, which can lead to more volatile price swings.

The prevalence of negative news, particularly concerning lawsuits and fraud allegations against entities like NovaTech founders and former President Trump’s associates, highlights the regulatory and security risks in the space. This environment demands thorough due diligence on any platform or asset. The shift towards ‘Fear’ on some sentiment indicators, such as Coinstats.app’s 46pt reading on October 24, suggests market participants are becoming more risk-averse, which could lead to further consolidation or downward price action.

Conversely, Bitcoin’s hash rate jumped 36.09% on October 24, signaling the network’s underlying security and operational health remain strong. This might offer reassurance to long-term investors, suggesting the foundational technology is robust despite market turbulence. However, short-term traders should prioritize risk management given prevailing downward price trends and reduced liquidity.

What next?

In the next 8 hours, market participants should closely monitor Bitcoin’s price action around the $81,000 level. The $635 million ETF outflows on October 23 indicate this is a critical support point; a sustained break below it could signal further downward momentum. Ethereum’s price, having fallen to $2,404.29 on October 23, also needs attention for similar support and resistance tests.

Watch for any significant changes in trading volumes on major exchanges. The widespread declines, such as Binance’s 22.31% drop on October 24, suggest reduced liquidity. A sudden surge in volume, particularly if accompanied by a price reversal, could signal a shift in sentiment. Conversely, continued low volumes alongside price declines would reinforce current downward pressure.

Keep an eye on updates regarding ongoing lawsuits and regulatory news, as these have been significant drivers of negative sentiment. Any new developments or resolutions could impact market perception. While Bitcoin’s hash rate jumped 36.09% on October 24, a positive technical signal, it’s unlikely to immediately counteract broader price and sentiment trends in the very short term. Still, it’s a metric to watch for sustained network health.

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

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