Crypto Market Bounces Back Amid Neutral-to-Bullish Outlook
BTC trades near $78,000 as bulls return after early-week macro uncertainty and regulatory headwinds. Ethereum (ETH) holds support above $2,400 and gains momentum for a short-term breakout at $2,500. Ripple (XRP) is similarly edging higher at $1.33, supported by short and medium-term moving averages.
The Fear & Greed Index, holding at 56 in the Greed territory on Friday, up from 50 the previous day, shows that market participants remain resilient and willing to weather short-term crosswinds, anticipating a renewed uptrend in the medium term. However, the Coinbase Premium Index slipped into negative territory this week as investors assessed the impact of the Federal Reserve (Fed) rate hike and the United States (US) CLARITY Act failing to advance in the Senate.
Bitcoin's rally has cooled into the $76,000-$82,000 range as CryptoQuant's Bull Score slipped from 80 to 60. The SuperTrend line at $72,788 reinforces underlying demand for BTC, while Ethereum trades at $2,488, maintaining a bullish near-term bias as it holds above a dense layer of moving-average support.
XRP, meanwhile, trades at $1.33, holding above the short and medium-term EMAs, which keeps the near-term bias mildly bullish despite fading momentum.