TL;DR
- The Crypto Fear & Greed Index climbed to 62, signaling a shift toward “Greed” as major cryptocurrencies posted daily gains.
- Bitcoin rose 1.04% to $116,439, while Ethereum surged over 5%, strengthening investor confidence.
- Analysts are optimistic, with price targets of $125,000 for BTC. On-chain trends show a slowdown in short-term profit-taking, reducing selling pressure and hinting at continued bullish momentum.
The cryptocurrency market is showing renewed optimism as investor sentiment moves back into the “Greed” zone. After days of market uncertainty, the “Crypto Fear & Greed Index” has reached a score of 62 out of 100, suggesting a growing appetite for risk among traders. This comes on the heels of a noticeable recovery in major digital assets such as Bitcoin, Ethereum, and XRP.
Bitcoin gained 1.04% in the past 24 hours, trading at $116,439.04. Although still below its July all-time high of $123,100, the rebound signals improving market confidence. Ethereum posted a strong 5.29% increase, reaching $3,824.20, its highest level in weeks. XRP followed closely, rising 2.15% to $3.04.
Other notable movers include Solana, up 1.40% to $170.38, and Dogecoin, which jumped 4.67% to $0.2129. Cardano also joined the upswing with a 3.39% increase, reaching $0.7596. The broad upward movement across altcoins supports the idea that this is not an isolated bounce, but part of a broader trend.
On-Chain Activity Suggests Market Is Cooling For The Better
According to data from Glassnode, short-term Bitcoin holders—those who have held BTC for fewer than 155 days—have slowed their selling activity. This cooling-off period has reduced market volatility and opened the door for potential accumulation phases. Fewer rapid profit-taking moves often point to a more sustainable upward trajectory.
Meanwhile, analysts are paying close attention to consolidation patterns. MN Trading Capital’s Michael van de Poppe noted that Bitcoin is testing resistance levels and could be preparing for a breakout. This technical stance is echoed by several market watchers.
Analysts Predict New Highs Ahead For Bitcoin And Ethereum
Prominent crypto trader Ted forecasts Bitcoin could soon reach $125,000, a move that would likely trigger up to $18 billion in liquidations across leveraged platforms. Galaxy Trading referenced similar bullish setups seen in late 2024, when BTC jumped from $70,000 to $100,000 within weeks.
Ethereum is also gaining momentum as the protocol continues to benefit from growing DeFi activity and reduced supply following staking mechanisms. Its 5% rally suggests strong investor conviction, potentially positioning it for a push beyond $4,000.
