- Bitcoin hit $94K before pulling back slightly to $92K.
- Fear & Greed Index shows ‘Greed’ with a 63 score.
- Altcoins like ETH, DOGE, SOL, ADA show moderate gains.
Bitcoin (BTC) sparked renewed crypto market vigor early Thursday, briefly surging to $94,535 before pulling back roughly 2% to settle near $92,000. While a partial retreat, the move signaled a notable shift in market mood. Ethereum (ETH) meanwhile held steady around $1,768, though other majors like XRP, Solana, and Cardano saw declines.
The Crypto Fear & Greed Index now sits at 63, indicating “Greed” — a big shift from last week’s neutral zone. This change shows growing excitement among traders, though it also comes with a warning, as extended periods of “Extreme Greed” (above 75) have historically been followed by market corrections.’
Source: CoinGlass
One example could be in February 2021, when the Fear & Greed Index hit 95. After that, Bitcoin climbed to $64,000 by April. But just three months later, it dropped to $30,000. At the same time, the index fell to 10, showing that investors had become very scared.
Market Cap Nears $3 Trillion
The global crypto market cap now stands at approximately $2.9 trillion, down slightly by 1.37% in the last 24 hours, but still showing strong bullish momentum.
Related: Digital Gold vs. Real Gold: Bitcoin’s Volatile Rally Closes In on $3.5K+ Gold
This comes despite geopolitical uncertainty and mixed signals from traditional markets.
Is Altcoin Season Here? Not Quite Yet
Despite strong double-digit gains from various altcoins and meme tokens, many analysts argue it’s too early to call this the start of a full-blown altcoin season.
Technical analysis shows that the “Others” market cap (total market cap excluding top 10 coins) is approaching a key resistance zone between $230B–$240B. Historically, this level has triggered major rallies — but only after a confirmed breakout.
Source: TradingView
Related: Is Bitcoin Set to Break $100,000? How Gold’s Rally Could Pave the Way
Currently, trading volume is relatively low, compared to previous bull runs like those in November 2023 or early 2024, indicating possible hesitation in market conviction.
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