Fear & Greed Index Rising: Market Sentiment Improves

The cryptocurrency Fear & Greed Index increased to 29 on October 19, signifying a shift from ‘extreme fear,’ indicates BlockBeats News, referencing Alternative Data.

This change highlights potential market stabilization, timely amid recent volatility, evidenced by significant stablecoin inflows and steady Bitcoin and Ethereum prices.

Fear & Greed Index Climbs to 29: Market Sentiment Shifts

Market sentiment in the cryptocurrency sector improved as the Fear & Greed Index increased to 29 from 23. The shift moved sentiment from “extreme fear” into a more neutral zone. Recent stablecoin minting suggests increased liquidity as Tether issued 1 billion USDT on Ethereum.

Bitcoin’s trading remained volatile yet showed signs of stability as it hovered around the $107,000 mark. Ethereum also maintained steady levels above $5,700. This points to a cautious optimism among investors following the market crash on October 11.

OKX’s mission has never been to sacrifice the interests of the majority of retail investors for traffic, but to adhere to neutrality, objectivity, and prudence, committed to creating a fair, safe, and transparent market environment. This is both a responsibility to users and a fundamental requirement put forward by global regulators. – Star, CEO, OKX

Bitcoin Holds Steady Above $107,000 Amid Improved Sentiment

Did you know? The Fear & Greed Index frequently moves from extreme fear to improved sentiment after major crypto market instabilities, much like previous volatility events.

Based on CoinMarketCap data, Bitcoin (BTC) is currently valued at $107,110.65 with a market cap of 2.14 trillion. Its circulating supply stands at 19.94 million against a max supply of 21 million. Despite recent downtrends, a 0.40% 24-hour rise shows slight recovery.

Insights from Coincu suggest that if the Federal Reserve supports market stability, cryptocurrencies could see renewed growth. A stable regulatory environment is crucial for maintaining this improved sentiment.