Bitcoin has regained momentum after the recent market turbulence, climbing back above $115,000 on Monday.
The leading cryptocurrency rose over 3% in the past 24 hours, signaling renewed optimism among traders following last week’s steep selloff.
The recovery coincides with a rebound in the Crypto Fear & Greed Index, which jumped from “extreme fear” at 24 to 38 today – its sharpest single-day sentiment improvement in weeks. The shift suggests that confidence is returning to the market as Bitcoin stabilizes above key technical levels.
On the charts, Bitcoin’s daily RSI currently hovers near 59, showing moderate bullish momentum without signs of overbought conditions. The MACD also indicates a potential trend reversal, with the blue line approaching a bullish crossover. Traders see this as an encouraging setup that could pave the way for another upward push in the coming sessions.
Meanwhile, popular crypto analyst Crypto Rover reaffirmed his bullish stance, pointing to Fibonacci extension levels that project a possible climb to $137,000.
His analysis highlights $122,000 as the next resistance level before a potential rally toward the $137K mark – a scenario he described as “most definitely possible for Bitcoin.”
Despite the short-term volatility, Bitcoin’s fundamentals remain strong. Its market capitalization has reached roughly $2.3 trillion, with 24-hour trading volume exceeding $94 billion. The recent correction, many analysts argue, has created a healthier base for the next upward leg.
As investors shake off panic from the market crash and sentiment gradually improves, the stage may be set for Bitcoin’s next major breakout – one that could test the upper Fibonacci targets before year-end.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.