Bitcoin (BTC) remains bullish, with its price hovering above $97,000, as the market sentiment has reached the “Extreme Greed” zone. In an X post on Thursday, an analytical platform, CryptoRank, pointed out that the top 10 cryptocurrencies show both growth and decline. Bitcoin’s dominance has been on the rise, currently at 57.65%, an increase of 2.02%.
Market Sentiment Peaks
According to platform findings, the price of Bitcoin increased by 4.45% over the last 24 hours. This growth has boosted the cryptocurrency market capitalization to $3.35 trillion, a 2.28% rise. The Fear & Greed Index, a sentiment indicator, has risen to 82 indicating the investors’ sentiments are gradually shifting towards optimism.
The top 10 cryptocurrencies demonstrated different dynamics of change. Solana (SOL) showed a positive sentiment and an increase of 2.48%. On the other hand, Cardano (ADA) was down by 6.93%, showing that even the major digital currencies could be quite volatile.
Lesser-Known Altcoins Surge
Altcoins and other tokens, which are not very popular, have also skyrocketed. Flat Earth Society (FLATEARTH) also surged by 600.3% among the day’s gainers. Next came Ropirito with a 317.5% rise and Dolos The Bully (BULLY) with a 104.6% improvement. Others of interest were Bitcat, which gained 102.1%, and GME Mascot Buck, which rose by 64.1%.
The break above the key $97,000 level and the increased market capitalization suggest continued bulls’ momentum supported by favorable market conditions. The increase in the Fear & Greed Index points towards increased confidence in the market. However, investors should be careful since excessive greed may be an early sign of market overheating.
Forecasting Bitcoin To Hit $100K Before Moonvember EndsThe market will most likely follow the path set by Bitcoin, the performance of the largest coins, and the willingness of smaller coins to attract the attention of eager speculators. Bitcoin still largely rules the market, although it does so with bullish optimism and strategic planning.
