Fear Turns to Greed in Crypto Market Overnight as Bitcoin Surges

The crypto Fear and Greed Index made a dramatic shift from fear to greed overnight, jumping from 46 to 62.

This 16-point daily increase ranks among the sharpest sentiment swings of 2026. Bitcoin led the charge with an 8.8% price gain, pushing it near $69,803 and lifting sentiment out of fear.

Ether (ETH) was a close second, surging 18.5% to $2,259. Solana (SOL) added 11.9%, while XRP rose 11.2%. Meanwhile, Bitcoin's market capitalization recovered to roughly $1.4 trillion.

The short sellers accelerated the climb by unwinding approximately $1.23 billion in bearish positions during the surprise crypto market rally. Traders were forced to buy back exposure at higher prices, further driving up sentiment.