πŸ“ƒ Sep 05, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Down

Over the past 24 hours, the cryptocurrency market has experienced a neutral to downward trend. While there have been positive developments such as the increasing interest in Mpeppe (MPEPE) and Playdoge (PLAY) among investors, the overall sentiment has been dampened by negative factors like the price drop in Dogecoin and the decline of Binance’s BNB. The market is facing some uncertainties as Bitcoin (BTC) continues to struggle to maintain its price above $57k, resulting in concerns among investors.

However, it is important to note that the market’s volatility levels have remained relatively stable, indicating a potential stabilizing factor that might contribute to market balance. Additionally, the recent launch of Bitcoin and Ethereum trading services by Swiss Bank ZKB is a positive development that could potentially impact market dynamics.

Considering these factors, the trend for the next 8 hours is expected to remain neutral to slightly bearish, with potential price fluctuations across various cryptocurrencies.

What is important

The key points to understand the current state of the cryptocurrency market are:

– The market is experiencing a neutral to downward trend, with certain cryptocurrencies showing both positive and negative movements.
– Investors are turning their attention to Mpeppe (MPEPE) and Playdoge (PLAY), showcasing growing interest in alternative cryptocurrencies.
– The price of Dogecoin has experienced a drop, indicating a temporary setback for the coin.
– Bitcoin (BTC) is facing challenges in maintaining its price above $57k.
– Swiss Bank ZKB’s launch of Bitcoin and Ethereum trading services highlights increasing institutional adoption and potential market impact.

These factors contribute to the market’s current sentiment and influence investor decisions.

Top 5 – Latest Headlines & Cryptocurrency News

  1. New Playdoge (PLAY) Investors Add Mpeppe (MPEPE) To Cryptocurrency Holdings For Future Value– Investors are adding Mpeppe (MPEPE) to their cryptocurrency holdings for future value.
  2. New GambleFi token set to 1000x, Ethereum and Solana whales shift attention– The new GambleFi token is expected to outperform Ethereum and Solana, attracting attention from whales in the cryptocurrency market.
  3. Low Investment Threshold, Greater Financial Control Lure Aussies to Crypto, Study Finds– A study finds that the low investment threshold and greater financial control are luring Australians to the cryptocurrency market.
  4. Bitcoin Investors Beware: MVRV Has Given Bear Market Signal– Investors are warned about the MVRV bear market in Bitcoin.
  5. Dogecoin Suffers Another Price Drop As DOGE Rivals Mpeppe (MPEPE) & PlayDoge Make Waves In Market– Dogecoin experiences price drop as Mpeppe, Mpepe, and Playdoge gain traction.

Factors DrivingΒ the Growth – Market Sentiment

The most mentioned positive sentiment keywords in the news include Mpeppe (MPEPE), Playdoge (PLAY), Ethereum whales, hidden gem, and low investment threshold. These keywords suggest growing interest and potential positive developments in the cryptocurrency market. On the other hand, the most mentioned negative sentiment keywords are Bitcoin, Dogecoin price drop, BNB, and MVRV bear market, highlighting challenges and concerns faced by these specific cryptocurrencies.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
21bitcoin
13mpeppe
12ethereum
10cryptocurrency market
6cryptocurrency
6mpepe
6playdoge
5dogecoin
5investors
5zkb

Negative Terms – Sentiment Analysis

OccurrencesKeyword
18bitcoin
6cryptocurrency market
5investors
4binance
4crypto market
4decline
4united texas bank
3bitcoin etfs
3cardano
3cftc

Crypto Investor Fear & Greed Index

The Fear and Greed Indicators show a mixed sentiment in the cryptocurrency market. Currently, the indicators fall within the range of fear, indicating a cautious sentiment among market participants. While there are signs of fear in the market due to the recent price fluctuations and uncertainties surrounding Bitcoin and other major cryptocurrencies, there are also indications of potential opportunities for growth. It is essential to monitor market trends and investor sentiment closely to assess the overall market direction and potential market movements.

DateValueVariationSource
2024-09-05 00:00:0027pt0ptAlternative.me
2024-09-05 00:00:0029pt2ptAlternative.me
2024-09-04 00:00:0027pt1ptAlternative.me
2024-09-03 00:00:0026pt0ptAlternative.me
2024-09-05 00:00:0027pt0ptBinance.com
2024-09-05 00:00:0029pt2ptBinance.com
2024-09-04 00:00:0026pt0ptBinance.com
2024-09-04 00:00:0027pt1ptBinance.com
2024-09-03 00:00:0026pt0ptBinance.com
2024-09-05 00:00:0027pt0ptBitDegree.org
2024-09-04 00:00:0027pt1ptBitDegree.org
2024-09-03 00:00:0026pt0ptBitDegree.org
2024-09-05 00:00:0054pt7ptBtcTools.io
2024-09-04 16:00:0047pt-8ptBtcTools.io
2024-09-04 08:00:0055pt-4ptBtcTools.io
2024-09-04 00:00:0059pt2ptBtcTools.io
2024-09-03 16:00:0057pt-7ptBtcTools.io
2024-09-03 08:00:0064pt5ptBtcTools.io
2024-09-03 00:00:0059pt2ptBtcTools.io
2024-09-02 16:00:0057pt4ptBtcTools.io
2024-09-02 08:00:0053pt0ptBtcTools.io
2024-09-05 00:00:0029pt2ptCoinstats.app
2024-09-04 00:00:0027pt1ptCoinstats.app
2024-09-03 00:00:0026pt0ptCoinstats.app

Bitcoin: Active Addresses

The Bitcoin Address Indicators table provides insights into the number of active addresses and wallet balances in the Bitcoin network. The data suggests a consistent number of active addresses over the analyzed period. However, variations in the wallet balances indicate slight fluctuations in the overall Bitcoin market activity. It is crucial to consider these indicators alongside other market factors for a comprehensive analysis of the Bitcoin ecosystem.

DateAddressesVariationIndicatorSource
2024-09-05 02:00:001,321,512,1360.00%Total Addressesbitaps.com
2024-09-05 02:00:001,269,059,0250.00%Zero Balance Addressesbitaps.com
2024-09-05 02:00:00709,3480.65%Bitcoin Active Addressesbtc.com
2024-09-05 02:00:00540,5450.00%Addresses with over 0bitaps.com
2024-09-05 02:00:00219,3820.00%Addresses with over 0.0000001bitaps.com
2024-09-05 02:00:003,720,1080.00%Addresses with over 0.000001bitaps.com
2024-09-05 02:00:0010,612,9740.00%Addresses with over 0.00001bitaps.com
2024-09-05 02:00:0013,050,8570.01%Addresses with over 0.0001bitaps.com
2024-09-05 02:00:0011,635,8720.00%Addresses with over 0.001bitaps.com
2024-09-05 02:00:008,095,0010.00%Addresses with over 0.01bitaps.com
2024-09-05 02:00:003,564,6190.00%Addresses with over 0.1bitaps.com
2024-09-05 02:00:00860,2240.00%Addresses with over 1bitaps.com
2024-09-05 02:00:00137,4120.01%Addresses with over 10bitaps.com
2024-09-05 02:00:0014,040-0.01%Addresses with over 100bitaps.com
2024-09-05 02:00:001,9760.00%Addresses with over 1,000bitaps.com
2024-09-05 02:00:00970.00%Addresses with over 10,000bitaps.com
2024-09-05 02:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

The Economic Events table highlights significant events in the global financial market. Notable events include employment situation indicators, household spending data in Japan, crude oil inventories, services PMI reports, and interest rate decisions. These events provide critical insights into various sectors and economies, impacting the overall sentiment in the cryptocurrency market.

DateImpactEvent
2024-09-06 12:30:00HighEmployment Situation Participation Rate
2024-09-06 12:30:00HighEmployment Situation Manufacturing Payrolls – M/M
2024-09-06 12:30:00HighEmployment Situation Unemployment Rate
2024-09-06 12:30:00HighEmployment Situation Average Workweek
2024-09-06 12:30:00HighEmployment Situation Average Hourly Earnings – M/M
2024-09-06 12:30:00HighEmployment Situation Average Hourly Earnings – Y/Y
2024-09-06 12:30:00HighEmployment Situation Private Payrolls – M/M
2024-09-06 12:30:00HighEmployment Situation Nonfarm Payrolls – M/M
2024-09-05 23:30:00ModerateJPY – Household Spending (MoM) (Jul)
2024-09-05 23:30:00ModerateJPY – Household Spending (YoY) (Jul)
2024-09-05 20:30:00ModerateUSD – FedΒ΄s Balance Sheet
2024-09-05 15:00:00ModerateUSD – Cushing Crude Oil Inventories
2024-09-05 15:00:00HighUSD – Crude Oil Inventories
2024-09-05 15:00:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-09-05 15:00:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-09-05 15:00:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-09-05 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-09-05 14:00:00HighUSD – ISM Non-Manufacturing Prices (Aug)
2024-09-05 14:00:00HighUSD – ISM Non-Manufacturing PMI (Aug)
2024-09-05 14:00:00ModerateUSD – ISM Non-Manufacturing Employment (Aug)
2024-09-05 14:00:00ModerateISM Services Index Index
2024-09-05 13:45:00HighUSD – S&P Global Services PMI (Aug)
2024-09-05 13:45:00ModerateUSD – S&P Global Composite PMI (Aug)
2024-09-05 12:30:00ModerateCAD – Labor Productivity (QoQ) (Q2)
2024-09-05 12:30:00ModerateUSD – Unit Labor Costs (QoQ) (Q2)
2024-09-05 12:30:00ModerateUSD – Nonfarm Productivity (QoQ) (Q2)
2024-09-05 12:30:00HighUSD – Initial Jobless Claims
2024-09-05 12:30:00ModerateUSD – Continuing Jobless Claims
2024-09-05 12:30:00ModerateProductivity and Costs Unit Labor Costs – Annual Rate
2024-09-05 12:30:00ModerateProductivity and Costs Nonfarm Productivity – Annual Rate
2024-09-05 12:30:00HighJobless Claims 4-Week Moving Average
2024-09-05 12:30:00HighJobless Claims Initial Claims – Level
2024-09-05 12:30:00HighJobless Claims Initial Claims – Change
2024-09-05 12:15:00HighUSD – ADP Nonfarm Employment Change (Aug)
2024-09-05 12:15:00ModerateADP Employment Report Private Payrolls – M/M
2024-09-05 08:35:00ModerateEUR – ECB Supervisory Board Member Tuominen Speaks
2024-09-05 08:30:00ModerateGBP – S&P Global / CIPS UK Construction PMI (Aug)
2024-09-05 06:00:00ModerateEUR – German Factory Orders (MoM) (Jul)
2024-09-05 01:30:00ModerateAUD – Trade Balance (Jul)
2024-09-04 20:30:00ModerateUSD – API Weekly Crude Oil Stock
2024-09-04 18:00:00ModerateUSD – Beige Book
2024-09-04 16:30:00ModerateUSD – Atlanta Fed GDPNow
2024-09-04 16:00:00ModerateUSD – Atlanta Fed GDPNow
2024-09-04 14:30:00ModerateCAD – BOC Press Conference
2024-09-04 14:00:00HighUSD – JOLTs Job Openings (Jul)
2024-09-04 14:00:00ModerateUSD – Factory Orders (MoM) (Jul)
2024-09-04 14:00:00ModerateFactory Orders Month over Month
2024-09-04 14:00:00ModerateJOLTS Job Openings
2024-09-04 13:45:00HighCAD – BoC Interest Rate Decision
2024-09-04 13:45:00ModerateCAD – BoC Rate Statement
2024-09-04 12:30:00ModerateUSD – Trade Balance (Jul)
2024-09-04 12:30:00ModerateUSD – Imports (Jul)
2024-09-04 12:30:00ModerateUSD – Exports (Jul)
2024-09-04 12:30:00HighInternational Trade in Goods and Services Balance
2024-09-04 12:00:00ModerateBRL – Industrial Production (YoY) (Jul)
2024-09-04 08:30:00ModerateGBP – S&P Global/CIPS UK Services PMI (Aug)
2024-09-04 08:30:00ModerateGBP – S&P Global/CIPS UK Composite PMI (Aug)
2024-09-04 08:15:00ModerateEUR – ECBΒ΄s Elderson Speaks
2024-09-04 08:00:00ModerateEUR – HCOB Eurozone Services PMI (Aug)
2024-09-04 08:00:00ModerateEUR – HCOB Eurozone Composite PMI (Aug)
2024-09-04 07:55:00ModerateEUR – HCOB Germany Services PMI (Aug)
2024-09-04 07:50:00ModerateEUR – HCOB France Services PMI (Aug)
2024-09-04 07:45:00ModerateEUR – HCOB Italy Services PMI (Aug)

Crypto Assets Prices

The Prices table presents the latest price data for major cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The data reflects recent price variations and volatility in the market. Bitcoin and Ethereum have shown fluctuating price trends, with Bitcoin experiencing a slight increase over the analyzed period. Binance Coin, on the other hand, has seen a relatively stable price with minor variations. These price movements can influence investor sentiment and market dynamics.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-09-05 07:44:00Bitcoin57,194.000.69%0.794.70%4.15-2.58%
2024-09-04 07:44:00Bitcoin56,798.00-4.05%-3.91-6.61%6.732.75%
2024-09-03 07:44:00Bitcoin59,101.002.80%2.704.46%3.981.07%
2024-09-04 07:44:00Ethereum2,400.60-5.08%-4.72-8.05%9.274.09%
2024-09-03 07:44:00Ethereum2,522.463.32%3.335.26%5.190.35%
2024-09-05 07:44:00Binance Coin507.20-0.95%-0.593.71%3.57-3.73%
2024-09-04 07:44:00Binance Coin512.00-4.47%-4.30-10.62%7.300.24%
2024-09-03 07:44:00Binance Coin534.906.02%6.3210.07%7.062.59%

CryptocurrencyΒ Capitalization and Volume

The Market Capitalizations and Volumes table displays the total market capitalization and volume data for major cryptocurrencies. The data provides insights into the overall market size and trading activity. Bitcoin, Ethereum, and Tether exhibit varying market capitalizations and trading volumes over the analyzed period, reflecting the fluctuating market demand and investor sentiment.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-09-05 00:00:00Binance Coin74,115,333,104-1.97%1,241,423,02050.22%
2024-09-04 00:00:00Binance Coin75,604,617,298-1.50%826,376,871-14.35%
2024-09-03 00:00:00Binance Coin76,757,338,5472.71%964,867,07339.38%
2024-09-05 00:00:00Bitcoin1,145,908,413,7521.03%36,288,156,34749.96%
2024-09-04 00:00:00Bitcoin1,134,239,119,682-2.83%24,198,779,935-14.41%
2024-09-03 00:00:00Bitcoin1,167,306,722,9993.15%28,274,255,95514.73%
2024-09-05 00:00:00Ethereum294,905,555,1990.94%16,631,632,90151.45%
2024-09-04 00:00:00Ethereum292,169,827,706-4.16%10,981,531,379-9.19%
2024-09-03 00:00:00Ethereum304,838,837,6024.33%12,093,048,8767.30%
2024-09-05 00:00:00Tether118,135,244,2370.17%53,856,229,63345.53%
2024-09-04 00:00:00Tether117,932,307,878-0.07%37,007,079,376-3.10%
2024-09-03 00:00:00Tether118,015,323,884-0.18%38,191,174,7764.02%

Cryptocurrency Exchanges Volume and Variation

The Exchanges table outlines the total trading volume and variations across major cryptocurrency exchanges. The data suggests varying levels of trading activity and investor participation across different exchanges. Binance, Bybit, and Coinbase show significant volumes and variations, indicating their prominent roles in the market. Monitoring trading volumes and variations can provide insights into market trends, liquidity, and investor preferences.

DateExchangeVolumeVariation
2024-09-05 00:00:00Binance232,53338.82%
2024-09-04 00:00:00Binance167,5060.50%
2024-09-03 00:00:00Binance166,66716.69%
2024-09-05 00:00:00Binance US12943.33%
2024-09-04 00:00:00Binance US9018.42%
2024-09-03 00:00:00Binance US76-9.52%
2024-09-05 00:00:00Bitfinex6,407111.52%
2024-09-04 00:00:00Bitfinex3,029-7.82%
2024-09-03 00:00:00Bitfinex3,2864.19%
2024-09-05 00:00:00Bybit85,93939.22%
2024-09-04 00:00:00Bybit61,7291.36%
2024-09-03 00:00:00Bybit60,90017.38%
2024-09-05 00:00:00Coinbase34,01053.01%
2024-09-04 00:00:00Coinbase22,22825.73%
2024-09-03 00:00:00Coinbase17,67916.43%
2024-09-05 00:00:00Crypto.com81,73653.95%
2024-09-04 00:00:00Crypto.com53,094-10.91%
2024-09-03 00:00:00Crypto.com59,59612.09%
2024-09-05 00:00:00Gate.io28,93740.94%
2024-09-04 00:00:00Gate.io20,5325.09%
2024-09-03 00:00:00Gate.io19,538-0.17%
2024-09-05 00:00:00Kraken12,59816.40%
2024-09-04 00:00:00Kraken10,82310.55%
2024-09-03 00:00:00Kraken9,79055.84%
2024-09-05 00:00:00KuCoin9,95733.74%
2024-09-04 00:00:00KuCoin7,445-3.52%
2024-09-03 00:00:00KuCoin7,717-11.55%
2024-09-05 00:00:00OKX33,27660.27%
2024-09-04 00:00:00OKX20,763-2.70%
2024-09-03 00:00:00OKX21,340-0.17%

Mining – Blockchain Technology

The Mining table offers insights into mining difficulty, block rewards, and hash rates in the cryptocurrency market. The data indicates a relatively stable mining difficulty and block rewards for Bitcoin over the analyzed period. However, hash rate variations demonstrate the dynamic nature of mining activities. Understanding these mining indicators allows for deeper insights into the computational capacity and network security of cryptocurrencies.

Item2024-09-052024-09-042024-09-032024-09-022024-09-012024-08-312024-08-30
Difficulty89.47T89.47T89.47T89.47T89.47T89.47T89.47T
Difficulty Variation0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks859.91K859.76K859.61K859.45K859.30K859.16K859.01K
Blocks Variation0.02%0.02%0.02%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 GB671.81B663.69B743.28B640.46B640.46B645.85B587.58B
Hash Rate GB Variation1.22%-10.71%16.05%0.00%-0.83%9.92%-18.50%

Conclusion

In conclusion, the cryptocurrency market has experienced a neutral to downward trend over the past 24 hours. While there have been positive developments, such as increasing interest in alternative cryptocurrencies like Mpeppe (MPEPE) and Playdoge (PLAY), overall sentiment has been impacted by negative factors such as the Dogecoin price drop and challenges faced by Bitcoin. The market exhibits a cautious sentiment, with fear indicators suggesting a need for prudence.

Practical implications include closely monitoring market trends, analyzing investor sentiment, and considering key events and developments to make informed decisions. It is important to remain vigilant and adapt strategies accordingly to navigate the evolving cryptocurrency market.

So What

Considering the current state of the cryptocurrency market, it is crucial for investors to exercise caution and conduct thorough research before making any investment decisions. The market’s neutral to downward trend presents a need for careful assessment of risk profiles, evaluating investment strategies, and diversifying portfolios. Additionally, staying updated with market news, regulatory developments, and technological advancements can aid in making informed decisions in this dynamic market.

What next?

Looking ahead, the cryptocurrency market is likely to continue its volatile nature as it reacts to various factors such as regulatory changes, market sentiment, and technological innovations. Monitoring key indicators, including the performance of major cryptocurrencies, market capitalization, trading volumes, and mining activities, will provide valuable insights into market trends and potential opportunities. Furthermore, being adaptable, assessing risk levels, and staying informed about important news and events will be essential for navigating the 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.

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