04/10/2023 Crypto Market Analysis & Trend: Neutral
The cryptocurrency market is currently in a neutral trend, indicating a potential wait-and-see approach among investors. Key indicators like Ripple’s XRP are gaining in strength, while Bitcoin and Ethereum are showing signs of depreciation. This neutrality could signify a cautious sentiment in the market and may be a precursor to a positive upward trend or a negative downward adjustment.
The Fear and Greed indicators point towards a mixed market sentiment with readings oscillating between fear and greed, which once again emphasizes the market’s current neutrality.
The economic events, such as the ECB President Lagarde’s several speeches and the ISM Non-Manufacturing and Factory Orders reports, can create market movements due to their high impact on the economy. Hence, the direction of these movements could determine the short-term trend of the cryptocurrency market.
What is important
Within the context of the neutral trend in the cryptocurrency market, it is essential to monitor significant market indicators, events, and recent news. The fluctuations in the Fear and Greed indicators signify shifting market moods. The major economic events, particularly from key economies, can impact the market, and essential news pieces provide a deeper understanding of the current market situation.
Latest Crypto News – Top 5
- Another Massive Win for Ripple (XRP): Judge Torres Dismissed SEC´s Appeal– Ripple XRP wins a legal battle as judge dismisses SEC´s appeal
- Binance to Cease BUSD Lending and Borrowing by October 25– Binance to cease BUSD lending and borrowing by October 25
- Ripple obtains full license to operate in Singapore as it expands in Asia-Pacific– Ripple has obtained a full cryptocurrency license in Singapore
- Historical Bitcoin Fractal Pattern Hints At Crash Below $20,000– Historical Bitcoin fractal points towards a potential crash below $20,000
- PrimeXBT lets traders try Crypto Futures for free in new contest– PrimeXBT allows traders to try crypto futures for free in a new contest
Factors Driving the Growth – Market Sentiment
An analysis of the positive and negative keywords from recent news provides an insight into the market’s sentiment. Positive keywords such as ‘Ripple and ‘rise’, contrast with negative words such as ‘Bitcoin’ and ‘Binance’, suggesting a divergence in market sentiment towards these cryptocurrencies.
Positive Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 7 | ripple |
| 6 | xrp |
| 5 | singapore |
| 4 | bitcoin |
| 3 | crypto |
| 2 | brazilian cvm resolution |
| 2 | cryptocurrency market |
| 2 | ripple xrp |
| 2 | rise |
| 2 | sec |
Negative Terms – Sentiment Analysis
| Occurrences | Keyword |
|---|---|
| 8 | bitcoin |
| 5 | binance |
| 5 | crypto |
| 5 | sec |
| 3 | btc |
| 3 | coinbase |
| 2 | appeal |
| 2 | borrowing |
| 2 | busd |
| 2 | cardano |
Crypto Fear & Greed Index
Looking at the Fear and Greed Indicators, there is a clear oscillation between fear and greed observed across different sources. Despite minor decreases in value, the magnitude of these fluctuations is small, implying relative stability in market sentiment.
| Date | Value | Variation | Source |
|---|---|---|---|
| 04/10/2023 01:00:00 | 49pt | -1pt | Alternative.me |
| 04/10/2023 00:00:00 | 50pt | 0pt | Alternative.me |
| 03/10/2023 00:00:00 | 50pt | 0pt | Alternative.me |
| 02/10/2023 01:00:00 | 50pt | 2pt | Alternative.me |
| 02/10/2023 00:00:00 | 48pt | 0pt | Alternative.me |
| 04/10/2023 11:00:00 | 49pt | -1pt | BitDegree.org |
| 04/10/2023 00:00:00 | 50pt | 0pt | BitDegree.org |
| 03/10/2023 00:00:00 | 50pt | 0pt | BitDegree.org |
| 02/10/2023 10:00:00 | 50pt | 2pt | BitDegree.org |
| 02/10/2023 00:00:00 | 48pt | 0pt | BitDegree.org |
| 04/10/2023 00:00:00 | 62pt | 0pt | BtcTools.io |
| 03/10/2023 00:00:00 | 62pt | -9pt | BtcTools.io |
| 02/10/2023 08:00:00 | 71pt | 2pt | BtcTools.io |
| 02/10/2023 00:00:00 | 69pt | 0pt | BtcTools.io |
| 01/10/2023 16:00:00 | 69pt | 0pt | BtcTools.io |
| 04/10/2023 00:00:00 | 49pt | -1pt | Coinstats.app |
| 03/10/2023 00:00:00 | 50pt | 0pt | Coinstats.app |
| 02/10/2023 00:00:00 | 50pt | 0pt | Coinstats.app |
| 04/10/2023 00:00:00 | 49pt | -1pt | LookIntoBitcoin.com |
| 03/10/2023 07:00:00 | 50pt | 0pt | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 50pt | 0pt | LookIntoBitcoin.com |
| 04/10/2023 01:00:00 | 49pt | -1pt | Milkroad.com |
| 04/10/2023 00:00:00 | 50pt | 0pt | Milkroad.com |
| 03/10/2023 00:00:00 | 50pt | 0pt | Milkroad.com |
| 02/10/2023 01:00:00 | 50pt | 2pt | Milkroad.com |
| 02/10/2023 00:00:00 | 48pt | 0pt | Milkroad.com |
Bitcoin: Active Addresses
The Bitcoin Address Indicators highlight a steady increase in active addresses and those with balances exceeding certain Bitcoin thresholds. Despite minor variations, this upward trend indicates consistent user activity and affirms Bitcoin’s ongoing popularity.
| Date | Value | Variation | Address | Source |
|---|---|---|---|---|
| 03/10/2023 00:00:00 | 1,034,524 | 0.82% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 1,026,008 | -1.02% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 1,036,440 | -1.72% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 1,054,314 | -0.97% | Bitcoin Active Addresses | LookIntoBitcoin.com |
| 03/10/2023 00:00:00 | 12,364,299 | 0.02% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 12,361,304 | -0.03% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 12,364,929 | -0.06% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 12,372,275 | -0.01% | Addresses with Balance > 0.01 Bitcoin | LookIntoBitcoin.com |
| 03/10/2023 00:00:00 | 4,492,139 | 0.02% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 4,491,379 | 0.01% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 4,490,861 | 0.00% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 4,490,827 | -0.01% | Addresses with Balance > 0.1 Bitcoin | LookIntoBitcoin.com |
| 03/10/2023 00:00:00 | 1,021,597 | 0.01% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 1,021,445 | 0.00% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 1,021,459 | 0.01% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 1,021,328 | 0.00% | Addresses with Balance > 1 Bitcoin | LookIntoBitcoin.com |
| 03/10/2023 00:00:00 | 157,347 | 0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 157,334 | -0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 157,353 | 0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 157,342 | 0.01% | Addresses with Balance > 10 Bitcoin | LookIntoBitcoin.com |
| 03/10/2023 00:00:00 | 15,833 | -0.04% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 15,840 | 0.08% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 15,827 | 0.04% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 15,820 | 0.01% | Addresses with Balance > 100 Bitcoin | LookIntoBitcoin.com |
| 03/10/2023 00:00:00 | 2,008 | -0.05% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 02/10/2023 00:00:00 | 2,009 | 0.25% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 01/10/2023 00:00:00 | 2,004 | 0.00% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
| 30/09/2023 00:00:00 | 2,004 | 0.05% | Addresses with Balance > 1000 Bitcoin | LookIntoBitcoin.com |
Economic events to move the cryptocurrency market
Notable economic events, including speeches by ECB President Lagarde and various ISM reports, in the past few days indicate substantial global economic activity. These events, high in impact, might have significant effects on the cryptocurrency market.
| Date | Impact | Event |
|---|---|---|
| 05/10/2023 14:30:00 | Moderate | EIA Natural Gas Report Week over Week |
| 05/10/2023 12:30:00 | High | Jobless Claims Initial Claims – Change |
| 05/10/2023 12:30:00 | High | Jobless Claims 4-Week Moving Average |
| 05/10/2023 12:30:00 | High | Jobless Claims Initial Claims – Level |
| 05/10/2023 12:30:00 | High | International Trade in Goods and Services Balance |
| 04/10/2023 16:00:00 | Moderate | EUR – ECB President Lagarde Speaks |
| 04/10/2023 15:25:00 | Moderate | USD – FOMC Member Bowman Speaks |
| 04/10/2023 14:30:00 | Moderate | USD – Cushing Crude Oil Inventories |
| 04/10/2023 14:30:00 | High | USD – Crude Oil Inventories |
| 04/10/2023 14:30:00 | High | EIA Petroleum Status Report Crude Oil Inventories – W/W |
| 04/10/2023 14:30:00 | High | EIA Petroleum Status Report Distillate Inventories – W/W |
| 04/10/2023 14:30:00 | High | EIA Petroleum Status Report Gasoline Inventories – W/W |
| 04/10/2023 14:25:00 | Moderate | USD – FOMC Member Bowman Speaks |
| 04/10/2023 14:00:00 | Moderate | EUR – ECB´s Panetta Speaks |
| 04/10/2023 14:00:00 | High | USD – ISM Non-Manufacturing Prices (Sep) |
| 04/10/2023 14:00:00 | High | USD – ISM Non-Manufacturing PMI (Sep) |
| 04/10/2023 14:00:00 | Moderate | USD – ISM Non-Manufacturing Employment (Sep) |
| 04/10/2023 14:00:00 | Moderate | USD – Factory Orders (MoM) (Aug) |
| 04/10/2023 14:00:00 | Moderate | ISM Services Index Index |
| 04/10/2023 14:00:00 | Moderate | Factory Orders Month over Month |
| 04/10/2023 13:45:00 | High | USD – S&P Global Services PMI (Sep) |
| 04/10/2023 13:45:00 | Moderate | USD – S&P Global Composite PMI (Sep) |
| 04/10/2023 12:15:00 | High | USD – ADP Nonfarm Employment Change (Sep) |
| 04/10/2023 12:15:00 | Moderate | ADP Employment Report Private Payrolls – M/M |
| 04/10/2023 11:40:00 | Moderate | EUR – ECB´s De Guindos Speaks |
| 04/10/2023 10:00:00 | Moderate | USD – OPEC Meeting |
| 04/10/2023 08:30:00 | Moderate | GBP – S&P Global/CIPS UK Services PMI (Sep) |
| 04/10/2023 08:30:00 | Moderate | GBP – S&P Global/CIPS UK Composite PMI (Sep) |
| 04/10/2023 08:15:00 | Moderate | EUR – ECB President Lagarde Speaks |
| 04/10/2023 08:00:00 | Moderate | EUR – HCOB Eurozone Services PMI (Sep) |
| 04/10/2023 08:00:00 | Moderate | EUR – HCOB Eurozone Composite PMI (Sep) |
| 04/10/2023 08:00:00 | Moderate | EUR – ECB President Lagarde Speaks |
| 04/10/2023 07:55:00 | Moderate | EUR – HCOB Germany Services PMI (Sep) |
| 04/10/2023 07:50:00 | Moderate | EUR – HCOB France Services PMI (Sep) |
| 04/10/2023 07:45:00 | Moderate | EUR – HCOB Italy Services PMI (Sep) |
| 04/10/2023 07:15:00 | Moderate | EUR – HCOB Spain Services PMI (Sep) |
| 04/10/2023 06:00:00 | Moderate | RUB – Russian S&P Global Services PMI (Sep) |
| 04/10/2023 01:00:00 | Moderate | NZD – RBNZ Rate Statement |
| 04/10/2023 01:00:00 | High | NZD – RBNZ Interest Rate Decision |
| 04/10/2023 00:30:00 | Moderate | JPY – au Jibun Bank Japan Services PMI (Sep) |
| 04/10/2023 00:00:00 | Moderate | Motor Vehicle Sales North American-Made Sales – Annual Rate |
| 04/10/2023 00:00:00 | Moderate | Motor Vehicle Sales Total Vehicle Sales – Annual Rate |
| 03/10/2023 20:30:00 | Moderate | USD – API Weekly Crude Oil Stock |
| 03/10/2023 14:00:00 | High | USD – JOLTs Job Openings (Aug) |
| 03/10/2023 14:00:00 | Moderate | JOLTS Job Openings |
Cryptocurrency Prices
The prices of major cryptocurrencies show variation with Ripple’s XRP demonstrating an upward trajectory, contrasting Bitcoin and Ethereum’s downward price movement. This divergence affirms the neutral trend within the market.
| Date | Cryptocurrency | Price | Price Variation | 24h Variation | 24h Variation Difference | 24h Volatility | 24h Volatility Difference |
|---|---|---|---|---|---|---|---|
| 04/10/2023 00:00:00 | Bitcoin | 27,426.46 | -0.25% | -0.01 | 1.55% | 1.90 | -2.86% |
| 03/10/2023 00:00:00 | Bitcoin | 27,494.52 | -1.81% | -1.57 | -5.28% | 4.76 | 0.73% |
| 02/10/2023 00:00:00 | Bitcoin | 27,992.57 | 0.00% | 3.71 | 0.00% | 4.03 | 0.00% |
| 04/10/2023 00:00:00 | Ethereum | 1,656.88 | -0.33% | -0.31 | 3.28% | 1.68 | -4.87% |
| 03/10/2023 00:00:00 | Ethereum | 1,662.41 | -4.29% | -3.59 | -7.16% | 6.55 | 1.57% |
| 02/10/2023 00:00:00 | Ethereum | 1,733.79 | 0.00% | 3.57 | 0.00% | 4.98 | 0.00% |
| 04/10/2023 00:00:00 | Binance Coin | 213.50 | -0.52% | -0.56 | 0.77% | 1.60 | -2.39% |
| 03/10/2023 00:00:00 | Binance Coin | 214.60 | -1.68% | -1.33 | -2.92% | 3.99 | 1.03% |
| 02/10/2023 00:00:00 | Binance Coin | 218.20 | 0.00% | 1.58 | 0.00% | 2.96 | 0.00% |
Cryptocurrency Capitalization and Volume
Market capitalization and volume for major cryptocurrencies like Bitcoin and Ethereum show minor but notable declines, while Binance Coin also reflects a slightly decreasing trend. These movements reveal fluctuating investor interest and market activity.
| Date | Cryptocurrency | Capitalization | Capitalization Variation | Volume | Volume Variation |
|---|---|---|---|---|---|
| 04/10/2023 00:00:00 | Binance Coin | 32,861,373,642 | -0.61% | 314,193,087 | -79.86% |
| 03/10/2023 00:00:00 | Binance Coin | 33,063,385,446 | -1.44% | 565,111,889 | 25.68% |
| 02/10/2023 00:00:00 | Binance Coin | 33,539,533,248 | 1.51% | 419,977,148 | 55.06% |
| 04/10/2023 00:00:00 | Bitcoin | 535,605,771,922 | -0.51% | 11,048,519,991 | 7.27% |
| 03/10/2023 00:00:00 | Bitcoin | 538,323,470,358 | -1.30% | 10,245,157,482 | -4.81% |
| 02/10/2023 00:00:00 | Bitcoin | 545,302,108,027 | 3.55% | 10,737,885,172 | 41.96% |
| 04/10/2023 00:00:00 | Ethereum | 199,352,909,264 | -0.41% | 7,366,487,014 | -98.74% |
| 03/10/2023 00:00:00 | Ethereum | 200,172,602,294 | -4.22% | 14,640,329,653 | 39.55% |
| 02/10/2023 00:00:00 | Ethereum | 208,616,290,408 | 3.71% | 8,849,858,942 | 39.07% |
| 04/10/2023 00:00:00 | Tether | 83,352,369,986 | 0.09% | 18,826,293,655 | -60.16% |
| 03/10/2023 00:00:00 | Tether | 83,273,336,895 | 0.03% | 30,151,959,924 | 45.05% |
| 02/10/2023 00:00:00 | Tether | 83,251,476,138 | -0.01% | 16,569,712,937 | 35.83% |
Cryptocurrency Exchanges Volume and Variation
The volume handled by major exchanges, such as Binance and Bitfinex, shows a sharp decrease. This trend aligns with the decline in major cryptocurrencies’ volume, pointing toward reduced liquidity and trading activity in the market.
| Date | Exchange | Volume | Variation |
|---|---|---|---|
| 04/10/2023 00:00:00 | Binance | 189,303 | -43.41% |
| 03/10/2023 00:00:00 | Binance | 271,487 | 40.47% |
| 02/10/2023 00:00:00 | Binance | 161,624 | 26.67% |
| 04/10/2023 00:00:00 | Binance US | 336 | -52.16% |
| 03/10/2023 00:00:00 | Binance US | 511 | 30.23% |
| 02/10/2023 00:00:00 | Binance US | 357 | 49.53% |
| 04/10/2023 00:00:00 | Bitfinex | 2,934 | -66.88% |
| 03/10/2023 00:00:00 | Bitfinex | 4,896 | 24.63% |
| 02/10/2023 00:00:00 | Bitfinex | 3,690 | 66.07% |
| 04/10/2023 00:00:00 | Bybit | 34,184 | -86.41% |
| 03/10/2023 00:00:00 | Bybit | 63,722 | 54.72% |
| 02/10/2023 00:00:00 | Bybit | 28,851 | 54.06% |
| 04/10/2023 00:00:00 | Coinbase | 32,480 | -67.09% |
| 03/10/2023 00:00:00 | Coinbase | 54,271 | 54.23% |
| 02/10/2023 00:00:00 | Coinbase | 24,842 | 37.91% |
| 04/10/2023 00:00:00 | Crypto.com | 14,409 | -37.60% |
| 03/10/2023 00:00:00 | Crypto.com | 19,827 | 50.02% |
| 02/10/2023 00:00:00 | Crypto.com | 9,909 | 35.68% |
| 04/10/2023 00:00:00 | Gate.io | 20,929 | -56.03% |
| 03/10/2023 00:00:00 | Gate.io | 32,657 | 45.32% |
| 02/10/2023 00:00:00 | Gate.io | 17,858 | 28.30% |
| 04/10/2023 00:00:00 | Kraken | 19,884 | -43.15% |
| 03/10/2023 00:00:00 | Kraken | 28,462 | 60.13% |
| 02/10/2023 00:00:00 | Kraken | 11,347 | 48.92% |
| 04/10/2023 00:00:00 | KuCoin | 10,506 | -42.57% |
| 03/10/2023 00:00:00 | KuCoin | 14,978 | 21.52% |
| 02/10/2023 00:00:00 | KuCoin | 11,754 | 42.68% |
| 04/10/2023 00:00:00 | OKX | 22,480 | -94.63% |
| 03/10/2023 00:00:00 | OKX | 43,753 | 37.19% |
| 02/10/2023 00:00:00 | OKX | 27,483 | 43.94% |
Mining – Blockchain Technology
The mining data reveals a relatively stable difficulty level and blocks, implying consistent network activity. Despite this stability, there’s a tangible increase in the Hash Rate GB, suggesting a potential increase in mining power and thus network security.
| Item | 04/10/2023 | 03/10/2023 | 02/10/2023 | 01/10/2023 | 30/09/2023 | 29/09/2023 | 28/09/2023 |
|---|---|---|---|---|---|---|---|
| Difficulty | 57.32T | 57.12T | 57.12T | 57.12T | 57.12T | 57.12T | 57.12T |
| Difficulty Variation | 0.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Blocks | 810.54K | 810.38K | 810.22K | 810.08K | 809.94K | 809.79K | 809.65K |
| Blocks Variation | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Reward BTC | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 | 6.25 |
| Reward BTC Variation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Hash Rate GB | 467.31B | 440.11B | 400.36B | 389.00B | 417.40B | 411.72B | 445.79B |
| Hash Rate GB Variation | 5.82% | 9.03% | 2.84% | -7.30% | 1.36% | -8.28% | 14.65% |
Conclusion
In conclusion, amid several market fluctuations and economic events, the current cryptocurrency market trend remains neutral. The Fear and Greed indicators underscore this neutrality, swinging between fear and greed. Ripple’s XRP demonstrates strengthening indicators, while Bitcoin and Ethereum show signs of depreciation. Moreover, major exchange volumes are decreasing, indicating a potential reduction in trading activity. The stability in mining difficulty and blocks, coupled with increased Hash Rate GB, denotes enhanced network security.
So What
The current state of the cryptocurrency market indicates a period of relative neutrality, which might suggest investor uncertainty and could affect decision-making. Given the ongoing price depreciation of key cryptocurrencies like Bitcoin and Ethereum and the contrasting appreciation of Ripple’s XRP, investors might need to re-evaluate their portfolios and be prepared for potential market volatility.
What next?
Given the current market observations and the impactful economic events, investors might need to keep a close eye on market movements. Should the Fear and Greed indicators lean towards one side, a new market trend can be expected. Therefore, tracking these indicators would be essential for identifying future opportunities or risks.
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.
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.
