At the end of last week, Bitcoin climbed above 7
K, where it managed to gain a foothold. Bitcoin’s ability to hold above $7
K is good news for the entire crypto market. Bitcoin’s dominance index has dropped by almost a per cent in the last 7 days. This indicates the interest of crypto market participants not only in the benchmark cryptocurrency but also in altcoins. Declining interest in Bitcoin also indicates growing demand for risk.
The RSI index is in a neutral zone, which indicates that the market can turn either side at any time. The Crypto Fear & Greed Index has been in the “extreme fear” zone for more than a month. Low index values often precede price reversals towards growth. But now we can say that this is only partially true.
Crypto Fear & Greed Index
Source
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