Bitcoin awakens investors' appetite: What does this rise mean?

Bitcoin jumped yesterday, briefly reaching $68,000, enough to ignite the entire crypto market. This surge caused a notable shift in sentiment, pushing the greed index into “greedy” territory. This turnaround suggests a sustained upward dynamic, fueled by investors' hopes. The move into this greed zone is a first in six weeks, raising questions about future trends.

Bitcoin: A remarkable rise

Since October 10, bitcoin has taken on color, recording an increase of 12%. He even briefly crossed $68,000 on October 16before falling slightly to $67,350.

For crypto enthusiasts, this marks a new stage in the evolution of the BTC price. According to data from IntoTheBlock:

• 95% of bitcoin holders are in profit;
• 3% are at their initial investment threshold;
• 2% show a loss.

This peak of optimism obviously attracts potential sellers. Yet, the number of active addresses in profit decreased from 112,780 to 91,160 in the space of a day, a sign that some are banking on an additional increase.

Crypto market: Greed goes up a notch

L'entering the greed zone60 today, represents a turning point for the crypto market, after a period of hesitation since the beginning of August. The last few weeks have been eventful, marked by a fall in bitcoin below $54,000 before this spectacular rebound.

For the first time since July 31, the market returns to a sustained bullish sentimentwhich could mark the start of a new phase of expansion.

“ At this stage, some profit-taking is to be expected », Explains an analyst. Indeed, the influx of winnings can encourage strategic sales. However, investor retention suggests higher expectations, especially with BTC potentially moving above $70,000.

Finally, it is interesting to note that a week ago, the Fear & Greed index had reached the neutral zone, reviving hopes of a bitcoin recovery. The last few days seem to have confirmed this trend.