- The Fear and Greed Index has fallen to 61, reflecting mixed market sentiment despite recent optimism at the Bitcoin 2024 conference.
- Major cryptocurrencies like Bitcoin and Ethereum recorded losses, while XRP stood out with a 7% gain.
- As Ethereum celebrates its ninth birthday, its price remains below previous highs, despite recent bullish forecasts and ETF launches.
The Fear and Greed Index is teetering on the brink to neutral, dropping from 69 points last week to a mere 61 points at the time of writing. The index reflects a market sentiment that despite a bullish Bitcoin 2024 conference seems unsure about the next moves.
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Bitcoin with Losses, as XRP Gains
Meanwhile, many major crypto assets have posted losses on the 24-hour timeframe as well as over the weekly. Bitcoin and Ethereum both fell over 1% on the daily, while Solana saw a 2.5% decline – XRP stands out with a 7% gain.
The gains are likely driven by an announcement by Ripple, which is moving into crypto-friendly Brazil with a partnership with the National Federation of Associations of Central Bank Servers.
In addition, Chartered Market Technician and Head of Research at NewsBTC, Tony “The Bull” Severino, wrote on platform X, that XRP may be poised for a breakout. He compared the current situation, based on technical analysis, with the set-up of 2018.
Source:
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