πŸ“ƒ Oct 26, 2024 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Trending Up

Over the past 24 hours, the cryptocurrency market has shown a promising upward trend. Bitcoin, the leading cryptocurrency, has experienced a slight correction but remains on a positive trajectory. This is evident from the recent price movements and market capitalization. The positive sentiment is further supported by the significant gains observed in altcoins such as Solana and the overall growth of the cryptocurrency ecosystem.

Looking at the recent price data, Bitcoin’s price has been resilient despite a minor dip, indicating strong support from investors. Additionally, the market capitalization of various cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin, has exhibited growth. Such evidence suggests increased investor confidence and a bullish outlook for the cryptocurrency market.

Furthermore, the positive sentiment is reinforced by the notable developments in the industry. Pennsylvania’s Bitcoin bill clearing a major hurdle indicates a positive shift in crypto regulation. This, along with the implementation of self-sovereign decentralized blockchain ID initiatives and the passing of crypto protection bills, showcases growing support for cryptocurrencies.

Considering these factors, there is a high level of confidence in the positive trend of the cryptocurrency market for the next 8 hours.

What is important

The current state of the cryptocurrency market highlights several essential points. Firstly, Bitcoin, as the leading cryptocurrency, may experience short-term volatility but remains resilient, driven by strong investor support. Altcoins like Solana are also in focus, demonstrating potential for significant growth.

Moreover, positive regulatory developments, such as the clearance of Bitcoin bills and the implementation of blockchain ID initiatives, indicate a favorable environment for cryptocurrencies. Additionally, the overall market capitalization of cryptocurrencies presents a positive outlook, reflecting increasing investor interest.

It is important to stay updated on the price movements, regulatory changes, and technological advancements within the cryptocurrency market to make informed investment decisions.

Top 5 – Latest Headlines & Cryptocurrency News

  1. Bitcoin Bill Clears Major Hurdle in Pennsylvania, Signaling Crypto Regulation Changes– A Bitcoin bill has cleared a major hurdle in Pennsylvania, signaling changes in crypto regulation.
  2. Lazarus Group Unleashes Blockchain Game To Exploit Chrome And Steal Crypto– The Lazarus Group has created a blockchain game to exploit Chrome and steal cryptocurrency.
  3. Bitcoin Rights Bill passed: How Pennsylvania plans to support crypto– Pennsylvania plans to support crypto with a Bitcoin rights bill.
  4. Solana price is ripe for a breakout as ecosystem booms– SolanaΒ΄s price is expected to experience a breakout as its ecosystem expands.
  5. Crypto Analyst Says Bitcoin Could Explode by 164% This Cycle, But Thinks Solana Will Do Even Better – HereΒ΄s Why– Bitcoin and Solana are predicted to have significant growth in the cryptocurrency market.

Factors DrivingΒ the Growth – Market Sentiment

Analyzing both the positive and negative sentiment keywords, we observe interesting trends. The positive sentiment is evident with frequent mentions of Bitcoin, Solana, and gains in the cryptocurrency market. Pennsylvania’s Bitcoin bill and the implementation of self-sovereign decentralized blockchain ID initiatives contribute to this positive sentiment. On the other hand, negative keywords such as tether, hack, and US government highlight concerns surrounding security and potential risks within the crypto space.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
30bitcoin
11solana
7cryptocurrency market
7price
6altcoins
6xrp
52025
5gains
4$100k
4all-time high

Negative Terms – Sentiment Analysis

OccurrencesKeyword
8bitcoin
7tether
4cryptocurrency market
4us government
3$20m
3crypto
3hack
3tax
3us department of justice
2denmark

Crypto Investor Fear & Greed Index

The fear and greed indicators provide insight into market sentiment regarding the cryptocurrency market. Based on the ‘Fear and Greed Indicators’ table, the values associated with fear and greed fall within the range of ‘fear’ and ‘greed’ respectively. This suggests a balanced sentiment without extreme fear or greed. The fear and greed indicators help gauge market emotions and can be instrumental in identifying potential shifts in sentiment.

DateValueVariationSource
2024-10-25 00:00:0072pt3ptAlternative.me
2024-10-24 00:00:0069pt-2ptAlternative.me
2024-10-23 00:00:0071pt0ptAlternative.me
2024-10-25 00:00:0072pt3ptBinance.com
2024-10-24 00:00:0069pt-2ptBinance.com
2024-10-23 00:00:0070pt0ptBinance.com
2024-10-23 00:00:0071pt1ptBinance.com
2024-10-25 00:00:0072pt3ptBitDegree.org
2024-10-24 00:00:0069pt-2ptBitDegree.org
2024-10-23 00:00:0071pt0ptBitDegree.org
2024-10-25 08:00:0068pt-1ptBtcTools.io
2024-10-25 00:00:0069pt-1ptBtcTools.io
2024-10-24 08:00:0070pt1ptBtcTools.io
2024-10-24 00:00:0069pt1ptBtcTools.io
2024-10-23 16:00:0068pt1ptBtcTools.io
2024-10-23 08:00:0067pt-2ptBtcTools.io
2024-10-23 00:00:0069pt0ptBtcTools.io
2024-10-25 18:00:0059pt-1ptCoinstats.app
2024-10-25 17:00:0060pt-1ptCoinstats.app
2024-10-25 16:00:0061pt-3ptCoinstats.app
2024-10-25 14:00:0064pt-1ptCoinstats.app
2024-10-25 14:00:0065pt2ptCoinstats.app
2024-10-25 13:00:0063pt1ptCoinstats.app
2024-10-25 10:00:0062pt-10ptCoinstats.app
2024-10-25 00:00:0072pt3ptCoinstats.app
2024-10-24 00:00:0069pt-2ptCoinstats.app
2024-10-23 00:00:0071pt0ptCoinstats.app

Bitcoin: Active Addresses

The ‘Bitcoin Address Indicators’ table showcases important metrics related to the Bitcoin network. Notably, the number of active addresses demonstrates consistent activity within the Bitcoin ecosystem, indicating continued interest. Furthermore, the quantity of wallet addresses based on balance values suggests a diverse range of Bitcoin holders, which can contribute to market liquidity and stability.

DateAddressesVariationIndicatorSource
2024-10-25 23:00:001,336,447,3270.00%Total Addressesbitaps.com
2024-10-25 23:00:001,283,808,0670.00%Zero Balance Addressesbitaps.com
2024-10-25 23:00:00843,2101.12%Bitcoin Active Addressesbtc.com
2024-10-25 23:00:00540,5560.00%Addresses with over 0bitaps.com
2024-10-25 23:00:00219,3800.00%Addresses with over 0.0000001bitaps.com
2024-10-25 23:00:003,818,6530.00%Addresses with over 0.000001bitaps.com
2024-10-25 23:00:0010,608,6620.00%Addresses with over 0.00001bitaps.com
2024-10-25 23:00:0013,058,6980.01%Addresses with over 0.0001bitaps.com
2024-10-25 23:00:0011,692,1900.00%Addresses with over 0.001bitaps.com
2024-10-25 23:00:008,120,5230.00%Addresses with over 0.01bitaps.com
2024-10-25 23:00:003,567,4640.00%Addresses with over 0.1bitaps.com
2024-10-25 23:00:00860,2660.00%Addresses with over 1bitaps.com
2024-10-25 23:00:00136,535-0.01%Addresses with over 10bitaps.com
2024-10-25 23:00:0014,2510.02%Addresses with over 100bitaps.com
2024-10-25 23:00:001,9820.00%Addresses with over 1,000bitaps.com
2024-10-25 23:00:00960.00%Addresses with over 10,000bitaps.com
2024-10-25 23:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The ‘Economic Events’ table provides important insights into the impact of global financial events on the cryptocurrency market. Noteworthy events such as changes in speculative net positions and economic indicators influence market sentiment and investment strategies. Monitoring such events can help gain a deeper understanding of the relationship between traditional financial markets and the cryptocurrency market.

DateImpactEvent
2024-10-25 19:30:00ModerateEUR – CFTC EUR speculative net positions
2024-10-25 19:30:00ModerateJPY – CFTC JPY speculative net positions
2024-10-25 19:30:00ModerateBRL – CFTC BRL speculative net positions
2024-10-25 19:30:00ModerateAUD – CFTC AUD speculative net positions
2024-10-25 19:30:00ModerateUSD – CFTC S&P 500 speculative net positions
2024-10-25 19:30:00ModerateUSD – CFTC Nasdaq 100 speculative net positions
2024-10-25 19:30:00ModerateUSD – CFTC Gold speculative net positions
2024-10-25 19:30:00ModerateUSD – CFTC Crude Oil speculative net positions
2024-10-25 19:30:00ModerateGBP – CFTC GBP speculative net positions
2024-10-25 17:00:00ModerateUSD – U.S. Baker Hughes Total Rig Count
2024-10-25 17:00:00ModerateUSD – U.S. Baker Hughes Oil Rig Count
2024-10-25 14:30:00ModerateUSD – Atlanta Fed GDPNow (Q3)
2024-10-25 14:00:00ModerateUSD – Michigan Consumer Sentiment (Oct)
2024-10-25 14:00:00ModerateUSD – Michigan Consumer Expectations (Oct)
2024-10-25 14:00:00ModerateUSD – Michigan 5-Year Inflation Expectations (Oct)
2024-10-25 14:00:00ModerateUSD – Michigan 1-Year Inflation Expectations (Oct)
2024-10-25 14:00:00ModerateConsumer Sentiment Index
2024-10-25 14:00:00ModerateConsumer Sentiment Year-ahead Inflation Expectations
2024-10-25 12:30:00ModerateCAD – Retail Sales (MoM) (Aug)
2024-10-25 12:30:00ModerateCAD – New Housing Price Index (MoM) (Sep)
2024-10-25 12:30:00ModerateCAD – Core Retail Sales (MoM) (Aug)
2024-10-25 12:30:00HighUSD – Durable Goods Orders (MoM) (Sep)
2024-10-25 12:30:00ModerateUSD – Core Durable Goods Orders (MoM) (Sep)
2024-10-25 12:30:00HighDurable Goods Orders New Orders – M/M
2024-10-25 12:30:00HighDurable Goods Orders Ex-Transportation – M/M
2024-10-25 12:30:00HighDurable Goods Orders Core Capital Goods – M/M
2024-10-25 12:00:00ModerateRUB – CBR Press Conference
2024-10-25 10:30:00ModerateRUB – Interest Rate Decision (Oct)
2024-10-25 10:00:00ModerateEUR – France Jobseekers Total (Sep)
2024-10-25 08:00:00ModerateEUR – German Ifo Business Climate Index (Oct)
2024-10-25 08:00:00ModerateEUR – German Current Assessment (Oct)
2024-10-25 08:00:00ModerateEUR – German Business Expectations (Oct)
2024-10-25 07:00:00ModerateEUR – ECB McCaul Speaks
2024-10-25 05:00:00ModerateSGD – CPI (YoY) (Sep)

Crypto Assets Prices

Analyzing the ‘Prices’ table, Bitcoin has experienced price variations but remains in an overall positive trajectory. Ethereum and Binance Coin have also shown resilience and potential for growth. The price volatility across cryptocurrencies indicates opportunities for traders and reflects the dynamic nature of the market.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-10-25 23:41:00Bitcoin66,335.62-2.67%-2.73-4.88%4.841.32%
2024-10-24 23:41:00Bitcoin68,104.021.94%2.153.11%3.520.13%
2024-10-23 23:41:00Bitcoin66,780.00-1.03%-0.96-1.10%3.391.49%
2024-10-25 23:41:00Ethereum2,414.07-4.96%-4.80-5.17%7.715.50%
2024-10-24 23:41:00Ethereum2,533.900.34%0.374.08%2.21-5.07%
2024-10-23 23:41:00Ethereum2,525.41-3.94%-3.71-2.15%7.274.77%
2024-10-25 23:41:00Binance Coin569.90-4.18%-4.14-5.64%5.623.10%
2024-10-24 23:41:00Binance Coin593.701.45%1.502.97%2.52-1.32%
2024-10-23 23:41:00Binance Coin585.10-1.52%-1.47-0.66%3.840.09%

CryptocurrencyΒ Capitalization and Volume

The ‘Market Capitalizations and Volumes’ table highlights the total market capitalization and volume of major cryptocurrencies. The overall upward trend in market capitalization suggests increasing investor confidence and interest in cryptocurrencies. Monitoring the volume of exchanges provides insights into liquidity and trading activity within the market.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-10-25 00:00:00Binance Coin86,710,819,3251.69%644,580,660-17.32%
2024-10-24 00:00:00Binance Coin85,269,154,035-2.33%779,573,228-18.35%
2024-10-25 00:00:00Bitcoin1,347,888,109,0112.25%35,980,405,7363.22%
2024-10-24 00:00:00Bitcoin1,318,263,659,082-0.98%34,856,477,676-13.27%
2024-10-25 00:00:00Ethereum305,016,120,1480.37%16,622,931,843-12.90%
2024-10-24 00:00:00Ethereum303,877,533,619-5.25%19,085,564,70311.52%
2024-10-25 00:00:00Tether120,184,820,8430.08%37,986,078,053-22.52%
2024-10-24 00:00:00Tether120,087,016,4190.02%49,029,583,194-14.38%

Cryptocurrency Exchanges Volume and Variation

The ‘Exchanges’ table reveals the total capitalization and volume of major cryptocurrency exchanges. Binance, Binance US, and Bitfinex are notable exchanges with varying levels of volume and capitalization. Understanding the activity and performance of exchanges is essential for evaluating market liquidity and investor participation.

DateExchangeVolumeVariation
2024-10-25 00:00:00Binance186,371-13.80%
2024-10-24 00:00:00Binance216,21510.14%
2024-10-23 00:00:00Binance195,9531.75%
2024-10-23 00:00:00Binance196,1890.12%
2024-10-23 00:00:00Binance196,3030.06%
2024-10-23 00:00:00Binance192,580-16.42%
2024-10-25 00:00:00Binance US1437.52%
2024-10-24 00:00:00Binance US13325.47%
2024-10-23 00:00:00Binance US120-0.83%
2024-10-23 00:00:00Binance US119-0.83%
2024-10-23 00:00:00Binance US106-10.92%
2024-10-23 00:00:00Binance US121-14.79%
2024-10-25 00:00:00Bitfinex1,787-28.75%
2024-10-24 00:00:00Bitfinex2,50870.38%
2024-10-23 00:00:00Bitfinex1,5360.52%
2024-10-23 00:00:00Bitfinex1,5410.33%
2024-10-23 00:00:00Bitfinex1,472-4.48%
2024-10-23 00:00:00Bitfinex1,528-42.12%
2024-10-25 00:00:00Bybit59,545-4.26%
2024-10-24 00:00:00Bybit62,19511.21%
2024-10-23 00:00:00Bybit56,1330.07%
2024-10-23 00:00:00Bybit54,255-3.35%
2024-10-23 00:00:00Bybit55,9263.08%
2024-10-23 00:00:00Bybit56,092-7.99%
2024-10-25 00:00:00Coinbase39,4341.31%
2024-10-24 00:00:00Coinbase38,92427.64%
2024-10-23 00:00:00Coinbase30,803-3.86%
2024-10-23 00:00:00Coinbase30,9410.45%
2024-10-23 00:00:00Coinbase30,496-1.44%
2024-10-23 00:00:00Coinbase32,039-0.74%
2024-10-25 00:00:00Crypto.com64,491-4.81%
2024-10-24 00:00:00Crypto.com67,7512.53%
2024-10-23 00:00:00Crypto.com68,096-0.05%
2024-10-23 00:00:00Crypto.com67,626-0.69%
2024-10-23 00:00:00Crypto.com66,077-2.29%
2024-10-23 00:00:00Crypto.com68,129-7.17%
2024-10-25 00:00:00Gate.io30,046-9.26%
2024-10-24 00:00:00Gate.io33,1127.88%
2024-10-23 00:00:00Gate.io30,5932.49%
2024-10-23 00:00:00Gate.io30,6930.33%
2024-10-23 00:00:00Gate.io30,708-2.31%
2024-10-23 00:00:00Gate.io29,851-2.79%
2024-10-25 00:00:00Kraken10,727-4.90%
2024-10-24 00:00:00Kraken11,2809.26%
2024-10-23 00:00:00Kraken10,109-1.73%
2024-10-23 00:00:00Kraken10,3242.13%
2024-10-23 00:00:00Kraken10,296-18.30%
2024-10-23 00:00:00Kraken10,287-0.09%
2024-10-25 00:00:00KuCoin8,918-12.19%
2024-10-24 00:00:00KuCoin10,15611.81%
2024-10-23 00:00:00KuCoin9,315-0.69%
2024-10-23 00:00:00KuCoin9,083-2.49%
2024-10-23 00:00:00KuCoin9,380-5.73%
2024-10-23 00:00:00KuCoin9,3800.00%
2024-10-25 00:00:00OKX25,521-16.79%
2024-10-24 00:00:00OKX30,6695.60%
2024-10-23 00:00:00OKX30,451-0.34%
2024-10-23 00:00:00OKX29,043-4.62%
2024-10-23 00:00:00OKX30,604-16.74%
2024-10-23 00:00:00OKX30,554-0.16%

Mining – Blockchain Technology

Examining the ‘Mining’ table, we observe the mining difficulty, blocks, rewards, and hash rate in the cryptocurrency market. The mining difficulty reflects the level of competition among miners, while blocks and rewards indicate the ongoing process of generating new cryptocurrencies. The hash rate demonstrates the computational mining capacity. Monitoring these mining indicators provides insights into the overall mining ecosystem.

DateDifficultyDifficulty VariationBlocksBlocks VariationReward BTCReward BTC VariationHash Rate GBHash Rate GB Variation
2024-10-2595.67T0.00%867.22K0.02%3.130.00%704.82B-1.89%
2024-10-2495.67T0.00%867.07K0.02%3.130.00%718.38B9.44%
2024-10-2395.67T3.94%866.92K0.02%3.130.00%656.41B-15.66%
2024-10-2395.67T0.00%866.92K0.00%3.130.00%661.69B0.81%
2024-10-2395.67T0.00%866.92K0.00%3.130.00%656.41B-0.80%
2024-10-2395.67T0.00%866.92K0.00%3.130.00%656.41B0.00%
2024-10-2292.05T0.00%866.78K0.02%3.130.00%778.25B-1.77%
2024-10-2192.05T0.00%866.61K0.02%3.130.00%792.28B0.00%
2024-10-2092.05T0.00%866.44K0.02%3.130.00%792.28B26.25%
2024-10-1992.05T0.00%866.26K0.02%3.130.00%627.54B-12.22%

Conclusion

In conclusion, the cryptocurrency market is currently trending up, driven by positive developments, increased market capitalization, and resilient price movements. Regulatory advancements, such as Pennsylvania’s Bitcoin bill and self-sovereign decentralized ID initiatives, contribute to a favorable environment. However, it is crucial to stay informed about potential risks and security concerns within the crypto space. Overall, the cryptocurrency market exhibits promising signs for the next 8 hours.

So What

The current state of the cryptocurrency market has practical implications for investors and traders. The positive trend and growing market capitalization offer opportunities for potential gains, highlighting the importance of strategic investment decisions. It is crucial to conduct thorough research, stay updated with regulatory changes, and monitor market sentiment to make informed choices within the dynamic cryptocurrency market.

What next?

Looking ahead, it is essential to continue monitoring the evolving landscape of the cryptocurrency market. Factors such as regulatory developments, technological advancements, and market sentiment will shape the future trajectory. Staying informed and adapting to market dynamics will be key in navigating the cryptocurrency market successfully.

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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