- Bitcoin rose above $78,000, up more than 2,2% in the past 24 hours.
- Fear and Greed Index Cryptocurrency has risen to the “fear” zone.
Last day Bitcoin, эфириум and other major cryptocurrencies showed moderate gains, fueled by an influx of funds into exchange-traded funds and easing geopolitical tensions. Against this backdrop, index of fear and greed rose from the minimum meaning “extreme fear” to the “fear” zone.
The crypto market’s Fear and Greed Index, at 33, indicates a predominance of fear, but its rise suggests improving sentiment and a gradual return to risk-taking strategies, rather than outright bullish euphoria, said Zeus Research analyst Dominic John.
On According to CoinMarketCap, last 24 hours Bitcoin rose 2,28% to $78,098 at the time of writing. Over the same period, эфириум rose 2,7% to $2,386, while the overall crypto market rose 2,3%.
The rise of cryptocurrencies reflects a combination of factors: a softening geopolitical situation, an influx of funds into ETF and constructive positioning. When Bitcoin broke the $75,000 mark, short positions were liquidated, which led to a mechanical squeeze, says Dominic John.
Previously edited Happy Coin News Wrote Glassnode analyst Chris Beamish predicts a short squeeze in Bitcoin’s price in the short term if investor sentiment remains stable amid geopolitical concerns.
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