πŸ“ƒ Sep 26, 2024 – EUROPE Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Neutral/Trending Up

Over the past 24 hours, the cryptocurrency market has shown a neutral to trending up trend. With Bitcoin and Ethereum experiencing slight price variations, PayPal’s recent announcement to enable US businesses to buy, hold, and sell cryptocurrencies has created a positive sentiment in the market. This move by PayPal demonstrates a growing acceptance and integration of cryptocurrencies into mainstream financial services. Additionally, the increasing demand for Bitcoin ETFs is removing significant supply from the market, potentially driving the price higher. The recent success of Goodegg (GEGG) and its potential to surpass other cryptocurrencies in value has also contributed to the positive sentiment.

Looking ahead for the next 8 hours, the evidence suggests that the market will continue to trend upwards with a neutral sentiment. The positive news surrounding PayPal and the growing popularity of Bitcoin ETFs indicates continued adoption and interest in cryptocurrencies. However, it is essential to monitor market developments and any potential negative catalysts that may impact the overall sentiment.

What is important

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

– PayPal’s integration of cryptocurrencies for US businesses, enabling them to buy, hold, and sell digital assets directly from their accounts. This development signifies growing acceptance and adoption of cryptocurrencies in the mainstream financial sector.

– The increasing demand for Bitcoin ETFs, resulting in the removal of a significant supply of Bitcoin from the market. This trend has the potential to drive up the price of Bitcoin.

– The rise of Goodegg (GEGG) in the cryptocurrency market, with experts suggesting its potential to surpass other cryptocurrencies in value.

– Ongoing market volatility and the need to closely monitor any negative catalysts that may impact the overall sentiment and market trends.

Top 5 – Latest Headlines & Cryptocurrency News

  1. PayPal Enables US Businesses To Buy, Hold, And Sell Crypto Directly From Accounts– PayPal now allows users to buy, hold, and sell cryptocurrencies.
  2. PayPal Enables Business Accounts to Buy, Hold, and Sell Bitcoin And Crypto– PayPal now enables business accounts to buy, hold, and sell Bitcoin and other cryptocurrencies.
  3. Β΄SustainedΒ΄ Bitcoin ETF inflows may Β΄buoyΒ΄ price despite slowing spot buying– Bitcoin ETF inflows drive up the price, slowing spot buying.
  4. SUI Soars As GoodEgg Rival Sells 3,520,814,672 Presale Tokens, Will GEGG Join 13,000% Rally Club After Tier 1 Listings– SUI soars as Goodegg rival sells 3,520,814,672 presale tokens. Will GEGG join 13,000% rally club after Tier 1 listings?
  5. Play-to-Date Cryptocurrency GoodEgg (GEGG) Has Capacity To Be Valued More Than Gold, Dogecoin Whales See 10X Opportunity– Goodegg (GEGG) has the potential to be valued higher than gold and Dogecoin, according to cryptocurrency experts.

Factors DrivingΒ the Growth – Market Sentiment

Analyzing the ‘Positive Keywords’ and ‘Negative Keywords’ tables, positive sentiment is dominant in the news. The frequency of positive keywords like Bitcoin, Ethereum, and PayPal indicates a bullish sentiment towards these cryptocurrencies and their integration into mainstream financial services. On the other hand, negative sentiment indicators such as Bitcoin price, Charles Hoskinson, and cryptocurrency scams highlight potential concerns and risks.

Positive Terms – Sentiment Analysis

OccurrencesKeyword
27bitcoin
14ethereum
10cryptocurrency
10cryptocurrency market
10paypal
8cryptocurrencies
7buy
7solana
6goodegg
5blockchain

Negative Terms – Sentiment Analysis

OccurrencesKeyword
6bitcoin
3bitcoin price
3charles hoskinson
3crypto scams
3silvergate
2avoid falling victim
2caroline ellison
2coins
2crash
2cryptocurrency market

Crypto Investor Fear & Greed Index

Reviewing the ‘Fear and Greed Indicators’ table, the majority of fear and greed indicators fall within the range of fear to greed levels. It suggests a mixed sentiment among market participants. Fear and greed indicators tend to influence investor behavior, with extreme fear levels potentially indicating buying opportunities and extreme greed levels signaling potential market corrections.

DateValueVariationSource
2024-09-26 00:00:0050pt-9ptAlternative.me
2024-09-25 00:00:0054pt0ptAlternative.me
2024-09-25 00:00:0059pt5ptAlternative.me
2024-09-24 00:00:0050pt0ptAlternative.me
2024-09-24 00:00:0054pt4ptAlternative.me
2024-09-26 00:00:0050pt-9ptBinance.com
2024-09-26 00:00:0059pt9ptBinance.com
2024-09-25 00:00:0054pt0ptBinance.com
2024-09-25 00:00:0059pt5ptBinance.com
2024-09-24 00:00:0050pt0ptBinance.com
2024-09-24 00:00:0054pt4ptBinance.com
2024-09-26 00:00:0050pt-4ptBitDegree.org
2024-09-25 00:00:0054pt4ptBitDegree.org
2024-09-24 00:00:0050pt0ptBitDegree.org
2024-09-26 00:00:0073pt-3ptBtcTools.io
2024-09-25 16:00:0076pt-1ptBtcTools.io
2024-09-25 00:00:0077pt3ptBtcTools.io
2024-09-24 16:00:0074pt-2ptBtcTools.io
2024-09-24 00:00:0076pt0ptBtcTools.io
2024-09-26 00:00:0050pt-9ptCoinstats.app
2024-09-25 00:00:0059pt5ptCoinstats.app
2024-09-24 00:00:0054pt0ptCoinstats.app

Bitcoin: Active Addresses

Analyzing the ‘Bitcoin Address Indicators’ data, there has been a steady increase in active addresses and address quantities based on balance values. This indicates growing participation and interest in the Bitcoin network. Monitoring the number of addresses with different balance thresholds provides valuable insights into the distribution and usage of Bitcoin addresses.

DateAddressesVariationIndicatorSource
2024-09-26 07:00:001,327,891,3040.00%Total Addressesbitaps.com
2024-09-26 07:00:001,275,427,3670.00%Zero Balance Addressesbitaps.com
2024-09-26 07:00:00720,1011.28%Bitcoin Active Addressesbtc.com
2024-09-26 07:00:00540,5650.00%Addresses with over 0bitaps.com
2024-09-26 07:00:00219,3830.00%Addresses with over 0.0000001bitaps.com
2024-09-26 07:00:003,776,5050.00%Addresses with over 0.000001bitaps.com
2024-09-26 07:00:0010,642,7520.00%Addresses with over 0.00001bitaps.com
2024-09-26 07:00:0012,987,702-0.02%Addresses with over 0.0001bitaps.com
2024-09-26 07:00:0011,621,799-0.01%Addresses with over 0.001bitaps.com
2024-09-26 07:00:008,095,1720.00%Addresses with over 0.01bitaps.com
2024-09-26 07:00:003,566,5400.00%Addresses with over 0.1bitaps.com
2024-09-26 07:00:00860,8040.00%Addresses with over 1bitaps.com
2024-09-26 07:00:00136,6870.02%Addresses with over 10bitaps.com
2024-09-26 07:00:0013,947-0.01%Addresses with over 100bitaps.com
2024-09-26 07:00:001,9780.00%Addresses with over 1,000bitaps.com
2024-09-26 07:00:00990.00%Addresses with over 10,000bitaps.com
2024-09-26 07:00:0040.00%Addresses with over 100,000bitaps.com

Economic events to move the cryptocurrency market

In the ‘Economic Events’ table, several important economic events are highlighted, including consumer sentiment, international trade data, and monetary policy meetings. These events can impact market sentiment and potentially influence cryptocurrency prices. It is important to monitor these events for any potential market-moving announcements.

DateImpactEvent
2024-09-27 14:00:00ModerateConsumer Sentiment Year-ahead Inflation Expectations
2024-09-27 14:00:00ModerateConsumer Sentiment Index
2024-09-27 12:30:00HighPersonal Income and Outlays PCE Price Index – M/M
2024-09-27 12:30:00HighPersonal Income and Outlays PCE Price Index – Y/Y
2024-09-27 12:30:00HighInternational Trade in Goods (Advance) Balance
2024-09-27 12:30:00HighInternational Trade in Goods (Advance) Exports – M/M
2024-09-27 12:30:00HighPersonal Income and Outlays Personal Consumption Expenditures – M/M
2024-09-27 12:30:00HighPersonal Income and Outlays Core PCE Price Index – M/M
2024-09-27 12:30:00HighPersonal Income and Outlays Core PCE Price Index – Y/Y
2024-09-27 12:30:00HighInternational Trade in Goods (Advance) Imports – M/M
2024-09-27 12:30:00HighPersonal Income and Outlays Personal Income – M/M
2024-09-26 23:30:00ModerateJPY – Tokyo Core CPI (YoY) (Sep)
2024-09-26 20:30:00ModerateUSD – FedΒ΄s Balance Sheet
2024-09-26 17:00:00ModerateUSD – FOMC Member Kashkari Speaks
2024-09-26 17:00:00ModerateUSD – Fed Vice Chair for Supervision Barr Speaks
2024-09-26 17:00:00ModerateUSD – 7-Year Note Auction
2024-09-26 16:00:00ModerateEUR – ECBΒ΄s Schnabel Speaks
2024-09-26 15:15:00ModerateUSD – Treasury Secretary Yellen Speaks
2024-09-26 14:30:00ModerateUSD – Fed Vice Chair for Supervision Barr Speaks
2024-09-26 14:30:00ModerateEIA Natural Gas Report Week over Week
2024-09-26 14:15:00ModerateEUR – ECBΒ΄s De Guindos Speaks
2024-09-26 14:00:00ModerateUSD – Pending Home Sales (MoM) (Aug)
2024-09-26 14:00:00ModeratePending Home Sales Index Index
2024-09-26 14:00:00ModeratePending Home Sales Index Month over Month
2024-09-26 13:45:00ModerateEUR – German Buba Vice President Buch Speaks
2024-09-26 13:30:00ModerateEUR – ECB President Lagarde Speaks
2024-09-26 13:25:00ModerateUSD – FOMC Member Williams Speaks
2024-09-26 13:20:00HighUSD – Fed Chair Powell Speaks
2024-09-26 13:15:00ModerateUSD – FOMC Member Bowman Speaks
2024-09-26 12:30:00HighUSD – Initial Jobless Claims
2024-09-26 12:30:00ModerateUSD – GDP Price Index (QoQ) (Q2)
2024-09-26 12:30:00HighUSD – GDP (QoQ) (Q2)
2024-09-26 12:30:00HighUSD – Durable Goods Orders (MoM) (Aug)
2024-09-26 12:30:00ModerateUSD – Core PCE Prices (Q2)
2024-09-26 12:30:00ModerateUSD – Core Durable Goods Orders (MoM) (Aug)
2024-09-26 12:30:00ModerateUSD – Continuing Jobless Claims
2024-09-26 12:30:00HighDurable Goods Orders Ex-Transportation – M/M
2024-09-26 12:30:00HighDurable Goods Orders New Orders – M/M
2024-09-26 12:30:00HighJobless Claims Initial Claims – Change
2024-09-26 12:30:00HighJobless Claims Initial Claims – Level
2024-09-26 12:30:00HighJobless Claims 4-Week Moving Average
2024-09-26 12:30:00HighDurable Goods Orders Core Capital Goods – M/M
2024-09-26 12:30:00HighGDP Personal Consumption Expenditures – Annual Rate
2024-09-26 12:30:00HighGDP Quarter over Quarter – Annual Rate
2024-09-26 09:15:00ModerateEUR – ECB McCaul Speaks
2024-09-26 09:00:00ModerateEUR – ECBΒ΄s Elderson Speaks
2024-09-26 08:00:00ModerateEUR – ECB Economic Bulletin
2024-09-26 08:00:00ModerateCHF – SNB Press Conference
2024-09-26 07:30:00ModerateCHF – SNB Monetary Policy Assessment
2024-09-26 07:30:00HighCHF – SNB Interest Rate Decision (Q3)
2024-09-26 06:00:00ModerateEUR – GfK German Consumer Climate (Oct)
2024-09-26 02:30:00ModerateAUD – RBA Financial Stability Review
2024-09-25 23:50:00ModerateJPY – Monetary Policy Meeting Minutes
2024-09-25 17:00:00ModerateUSD – 5-Year Note Auction
2024-09-25 14:30:00ModerateUSD – Cushing Crude Oil Inventories
2024-09-25 14:30:00HighUSD – Crude Oil Inventories
2024-09-25 14:30:00HighEIA Petroleum Status Report Gasoline Inventories – W/W
2024-09-25 14:30:00HighEIA Petroleum Status Report Crude Oil Inventories – W/W
2024-09-25 14:30:00HighEIA Petroleum Status Report Distillate Inventories – W/W
2024-09-25 14:00:00ModerateUSD – New Home Sales (MoM) (Aug)
2024-09-25 14:00:00HighUSD – New Home Sales (Aug)
2024-09-25 14:00:00HighNew Home Sales Annual Rate
2024-09-25 12:30:00ModerateEUR – ECB McCaul Speaks
2024-09-25 12:30:00ModerateUSD – Building Permits (Aug)
2024-09-25 11:30:00ModerateUSD – Building Permits (Aug)
2024-09-25 10:00:00ModerateEUR – France Jobseekers Total (Aug)

Crypto Assets Prices

Analyzing the ‘Prices’ table, we observe a relatively stable price trend for Bitcoin, Ethereum, and Binance Coin over the past 24 hours. While there have been minor price variations, the overall sentiment remains positive. The recent news of PayPal enabling cryptocurrency transactions for US businesses has contributed to the favorable sentiment in the market.

DateCryptocurrencyPricePrice Variation24h Variation24h Variation Difference24h Volatility24h Volatility Difference
2024-09-26 07:54:00Bitcoin63,836.500.03%-0.01-0.42%2.12-1.21%
2024-09-25 07:54:00Bitcoin63,820.510.46%0.410.45%3.331.53%
2024-09-24 07:54:00Bitcoin63,526.26-0.04%-0.04-1.01%1.80-2.03%
2024-09-26 07:54:00Ethereum2,628.190.20%0.261.17%3.02-0.14%
2024-09-25 07:54:00Ethereum2,622.92-0.89%-0.91-0.91%3.16-0.42%
2024-09-24 07:54:00Ethereum2,646.380.01%0.00-2.24%3.58-2.86%
2024-09-26 07:54:00Binance Coin595.900.03%-0.051.03%3.25-0.22%
2024-09-25 07:54:00Binance Coin595.70-1.19%-1.08-3.04%3.48-1.30%
2024-09-24 07:54:00Binance Coin602.801.99%1.960.90%4.780.77%

CryptocurrencyΒ Capitalization and Volume

Reviewing the ‘Market Capitalizations and Volumes’ data, we see a mixed trend in total market capitalization and volume across different cryptocurrencies. While Binance Coin’s capitalization has shown a slight decrease, Bitcoin and Ethereum continue to maintain their market dominance. These trends in capitalization and volume can indicate market trends and investor interest in specific cryptocurrencies.

DateCryptocurrencyCapitalizationCapitalization VariationVolumeVolume Variation
2024-09-26 00:00:00Binance Coin85,728,990,275-3.08%826,073,1385.38%
2024-09-25 00:00:00Binance Coin88,453,274,9390.30%783,892,192-38.47%
2024-09-24 00:00:00Binance Coin88,185,882,6762.66%1,273,970,03971.80%
2024-09-26 00:00:00Bitcoin1,247,743,205,381-1.84%24,896,955,063-15.50%
2024-09-25 00:00:00Bitcoin1,271,183,646,3571.58%29,463,597,57423.29%
2024-09-24 00:00:00Bitcoin1,251,433,550,779-0.49%23,898,758,72414.92%
2024-09-26 00:00:00Ethereum310,502,292,846-2.79%12,625,898,849-23.85%
2024-09-25 00:00:00Ethereum319,424,456,9370.22%16,579,473,260-16.75%
2024-09-24 00:00:00Ethereum318,715,892,1262.47%19,915,927,26958.08%
2024-09-26 00:00:00Tether119,363,810,8130.10%45,507,058,010-13.30%
2024-09-25 00:00:00Tether119,245,380,622-0.02%52,486,447,6452.61%
2024-09-24 00:00:00Tether119,269,630,1840.03%51,152,337,21677.82%

Cryptocurrency Exchanges Volume and Variation

Analyzing the ‘Exchanges’ table, we observe varying volume trends across different exchanges. Binance and Binance US continue to be prominent players in the cryptocurrency market, with notable fluctuations in trading volume. Bitfinex and Bybit have also demonstrated both positive and negative variation in trading volume. These trends provide insights into the liquidity and trading activities of major exchanges.

DateExchangeVolumeVariation
2024-09-26 00:00:00Binance188,382-14.89%
2024-09-25 00:00:00Binance221,347-5.15%
2024-09-24 00:00:00Binance233,35757.66%
2024-09-26 00:00:00Binance US108-28.00%
2024-09-25 00:00:00Binance US1502.74%
2024-09-24 00:00:00Binance US14660.44%
2024-09-26 00:00:00Bitfinex1,033-72.69%
2024-09-25 00:00:00Bitfinex3,78268.24%
2024-09-24 00:00:00Bitfinex2,24865.42%
2024-09-26 00:00:00Bybit73,100-0.46%
2024-09-25 00:00:00Bybit73,438-1.84%
2024-09-24 00:00:00Bybit74,81147.28%
2024-09-26 00:00:00Coinbase24,251-16.61%
2024-09-25 00:00:00Coinbase29,0808.87%
2024-09-24 00:00:00Coinbase26,71082.92%
2024-09-26 00:00:00Crypto.com59,479-16.87%
2024-09-25 00:00:00Crypto.com71,547-21.62%
2024-09-24 00:00:00Crypto.com91,28465.03%
2024-09-26 00:00:00Gate.io27,5100.58%
2024-09-25 00:00:00Gate.io27,352-6.04%
2024-09-24 00:00:00Gate.io29,11047.37%
2024-09-26 00:00:00Kraken10,178-10.91%
2024-09-25 00:00:00Kraken11,424-20.37%
2024-09-24 00:00:00Kraken14,34798.88%
2024-09-26 00:00:00KuCoin9,705-7.62%
2024-09-25 00:00:00KuCoin10,505-2.50%
2024-09-24 00:00:00KuCoin10,77442.95%
2024-09-26 00:00:00OKX30,278-6.90%
2024-09-25 00:00:00OKX32,5238.21%
2024-09-24 00:00:00OKX30,05645.79%

Mining – Blockchain Technology

Looking at the ‘Mining’ data, we can observe the mining difficulty, mined blocks, block rewards, and hash rate within the cryptocurrency market. The mining difficulty for Bitcoin has shown a slight decrease, while Ethereum’s difficulty remains relatively stable. The number of mined blocks and block rewards is consistent for both cryptocurrencies. Monitoring the hash rate provides insights into the computational power dedicated to mining operations.

Item2024-09-262024-09-252024-09-242024-09-232024-09-222024-09-212024-09-20
Difficulty88.40T92.67T92.67T92.67T92.67T92.67T92.67T
Difficulty Variation-4.60%0.00%0.00%0.00%0.00%0.00%0.00%
Blocks862.88K862.73K862.59K862.44K862.31K862.17K862.03K
Blocks Variation0.02%0.02%0.02%0.02%0.02%0.02%0.01%
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 GB632.82B663.37B673.47B626.81B621.91B673.47B557.45B
Hash Rate GB Variation-4.60%-1.50%7.45%0.79%-7.66%20.81%-11.76%

Conclusion

In conclusion, the cryptocurrency market has displayed a neutral to trending up trend in the past 24 hours. Positive developments such as PayPal’s integration of cryptocurrencies for US businesses and the rising demand for Bitcoin ETFs have contributed to the overall positive sentiment. However, it is important to remain cautious and monitor market developments, as potential negative catalysts can impact market sentiment and trends.

So What

The current state of the cryptocurrency market signifies a growing acceptance and integration of digital assets into mainstream financial services. PayPal’s move to enable US businesses to transact with cryptocurrencies highlights the increasing adoption of this asset class. Additionally, the rising popularity of Bitcoin ETFs signifies a growing demand for exposure to cryptocurrencies in traditional investment portfolios. These trends have practical implications for businesses, investors, and individuals looking to leverage the benefits of cryptocurrencies in their financial strategies.

What next?

Looking ahead, it is expected that the positive momentum in the cryptocurrency market will continue, driven by increased institutional adoption, growing retail interest, and further integration of digital assets into traditional financial systems. However, it is crucial to remain alert to potential market risks and uncertainties, including regulatory developments and market volatility. Monitoring key indicators such as market capitalization, trading volumes, and technological advancements will provide valuable insights into the future direction of 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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