Feelings to participants in the crypto market became bullish again following a moderate price increase in many major cryptocurrencies over the past 24 hours.
The crypto fear & greed Index rose to “greed” on Thursday with a score of 62 to 100, recovering from a “neutral” drop the day before. It follows some Pabagu -new sun in the crypto market as Bitcoin (Btc) fell to $ 112,000 in the weekend just weeks after hitting the full time of $ 123,100 in mid -July.
The sentiment bump shows the market that expects stability
The index return to “greed” came as 1% of Bitcoin rose in the last 24 hours, trading at $ 114,298, according to Nansen.
Partial prices, including emotional bumps, signs that market participants viewed the moderate gain as a sign of stability in the near term.
Meanwhile, Onchain Analytics Firm said Glassnode On Wednesday that the removal of income Among the short-term bitcoin holders-the holders less than 155 days-are “cooled.”
The broadly crypto market has also moved higher. Ether (Eth) posted the acquisitions of 2.37% in the past 24 hours to trade at $ 3,664 at the time of publication, while XRP (XRP) posted the acquired 2.14% to trade at $ 2.97, and Solana (Sol) Posted the acquisitions of 3.26% to trade at $ 167.38.
Bitcoin analysts said for “bullish breakout”
The emotionalization was echoed by commentary by analysts on Thursday, with MN Trading Capital founder Michael Van de Poppe saying In X that “Bitcoin returned to the resistance and integrated -with it. This test is likely to bring a bullish breakout.”
Related: Crypto funds View $ 223M outflow, ending a 15-week streak as Fed Dampen sentiment
Crypto trader Galaxy Says That the last time Bitcoin saw similar volatility was in November, before it climbed from around $ 70,000 to $ 100,000 on December 5 a month rally following the winning of the US presidential election.
Meanwhile, crypto businessman Ted that -Forecast That Bitcoin could have reached the new high $ 125,000 as soon as possible, noting that it would have been raising $ 18 billion in prevention.
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