Sentiment among crypto market participants has flipped bullish after cryptocurrency prices, including Bitcoin (BTC) rose modestly over the past 24 hours.
Sentiment Turns Greed-Oriented
The Crypto Fear & Greed Index surged to “Greed” territory at a score of 62 out of 100 on Thursday, reversing a one-day dip into “Neutral.” The shift mirrors the slight climb in top coins, driven by a desire for near-term stability.
According to data provider Nansen, Bitcoin BTC/USD rose ~1% in the last 24 hours, trading at ~$114,298 later Thursday.
Elsewhere, Ether (ETH) rose ~2.37% to ~$3,664, XRP (XRP) ~2.14% to ~$2.97, and Solana (SOL) ~3.26% to ~$167.38.
This moderate recovery follows volatility where Bitcoin dropped below $112,000 late last week, shortly after an all-time high.
Bullish Outlook from Analysts
Analysts appear cautiously optimistic. MN Trading Capital founder Michael van de Poppe cited resistance consolidation around current levels, suggesting a potential bullish breakout.
Crypto trading firm Galaxy noted similarities to Bitcoin’s trajectory in late 2023 following Trump’s election, suggesting potential catalysts.
Crypto trader Ted predicted a potential “bullish breakout” but noted it could trigger significant liquidations, referencing the style often seen at ATHs.
On-chain data provider Glassnode indicated that profit-taking by short-term Bitcoin holders (~less than 155 days) has diminished, contrasting with the recent dip.
This article does not constitute investment advice. Trading and investing carry inherent risks.
