1. Market Cap:
• #Bitcoin: $1.22 trillion
• #Ethereum: $290.02 billion
•#Tether(#USDT): $119.68 billion
•#USDCoin (#USDC): $35.53 billion
Conclusion:#Bitcoinand#Ethereumoccupy leading positions, representing key assets in the total cryptocurrency market capitalization.#USDTand#USDCplay an important role as stablecoins to provide liquidity and reduce volatility, especially in conditions of market uncertainty.
2. Price:
• #Bitcoin: $62,117.33 (up 0.78%)
• #Ethereum: $2,418.43 (up 0.80%)
• #Tether: $1.00 (unchanged)
•#USDCoin: $1.00 (unchanged)
Conclusion:#Bitcoinand#Ethereumare showing small short-term gains, suggesting that the upward movement may stabilize or continue. Stablecoins remain stable, confirming their role as a tool for hedging and transferring capital during market corrections.
3. Price Change:
• #Bitcoin: +0.78%
• #Ethereum: +0.80%
• #Tether: 0.00%
•#USDCoin: +0.02%
Conclusion: The rise in #BTC and #ETH may be a result of positive market sentiment, although percentage changes remain modest. This points to a possible short-term move higher, but consolidation after the current move should be considered.
4. Large Txs Volume:
• #Bitcoin: $48.16 billion (down 8.31%)
• #Ethereum: $3.89 billion (down 15.84%)
• #Tether: $5.77 billion (up 12.24%)
•#USDCoin: $8.79 billion (up 17.41%)
Conclusion: The significant decrease in large transaction volumes for#Bitcoinand#Ethereumindicates that large players may adopt a wait-and-see attitude despite the price increase. At the same time, the growth in volumes for stablecoins#USDTand#USDCindicates that market participants are transferring their assets to more stable instruments.
5. Daily Active Addresses:
• #Bitcoin: 784.4k (up 4.65%)
• #Ethereum: 464.69k (down 7.51%)
• #Tether: 97.2k (down 6.2%)
•#USDCoin: 39.26k (up 2.13%)
Conclusion: The growth of active addresses for#Bitcoin(+4.65%) shows active interest from market participants, which is a positive factor for short-term price movement. The decrease in activity for#Ethereum(-7.51%) and stablecoins may indicate a weakening of short-term interest in these assets.
6. Hodlers Balance:
• #Bitcoin: $799.47 billion (down 0.01%)
• #Ethereum: $262.78 billion (unchanged)
• #Tether: $14.95 billion (down 0.07%)
•#USDCoin: $5.01 billion (up 0.07%)
Conclusion: The slight decrease in balances of long-term holders of#Bitcoinand#Tethermay indicate profit-taking or asset relocation. However, the lack of change in#Ethereumand the growth of#USDCbalances suggest that large players are choosing to hold their positions or transfer capital to more stable instruments.
7. Net Flows on exchanges (Exchanges Net Flows):
• #Bitcoin: $13.75 million (outflow of -120.67%)
• #Ethereum: $23.14 million (-63.93% outflow)
• #Tether: $74.49 million (35.11% inflow)
•#USDCoin: $102.66 million (-193.37% inflow)
Conclusion: The strong outflow of#Bitcoinand#Ethereumfrom exchanges may indicate profit-taking and the transfer of assets to cold wallets. The inflow of capital into stablecoins indicates that market participants are moving into defensive assets, which may indicate preparation for possible volatility in the market.
8. Signals:
• #Bitcoin: Bearish signals.
• #Ethereum: Bearish signals.
• #Tether: Neutral signals.
•#USDCoin: Neutral signals.
Conclusion: Bearish signals in#Bitcoinand #Ethereum, even amid rising prices, confirm the possibility of a correction or consolidation in the near future. Neutral signals in stablecoins confirm their use as safe havens in times of uncertainty.
Overall conclusion for the cryptocurrency market as of October 5, 2024:
1. Growth: Despite a small short-term increase in#Bitcoinand#Ethereumprices, activity from major players is declining, and outflows from exchanges indicate that the growth may be temporary. Probability of further growth in the near term: 25%.
2. Consolidation: Given the wait-and-see attitude of major players and the movement of capital into stablecoins, the most likely scenario is consolidation over the next few days. Consolidation probability: 50%.
3. Correction: High outflow rates of#Bitcoinand#Ethereumfrom exchanges, as well as bearish signals for these assets, indicate the possibility of a short-term correction. Correction probability: 25%.
#Bitcoin#Ethereum#USDT#USDC#Crypto#Altcoins#Cryptocurrency#MarketAnalysis#RSI#Fibonacci#Blockchain #BTC #ETH
