Crypto Flipsider News — Bitcoin Reclaims $20k; Altcoins Rally; Cardano’s Next Wave; Celsius Repays Debts; 3AC Makes Moves
Read in the Digest:
Bitcoin reclaims $20,000 as Fear and Greed Index jumps, signifying bullishness.
Ethereum and The Sandbox lead Altcoin rally — Bitcoin miner revenue surpasses ETH miners.
Charles Hoskinson hints that Cardano’s next wave is coming this month.
Crypto lender Celsius Network repays $142.8M to MakerDAO.
Three Arrows Capital makes massive transfers after filing for liquidation and bankruptcy.
Bitcoin Reclaims $20,000 as Fear and Greed Index Jumps, Signifying Bullishness
Although Bitcoin (BTC) closed last week below $19k, extending its losing streak, the world’s largest cryptocurrency has quickly regained lost ground, benefiting from a slight rebound in investor sentiment.
The Bitcoin Fear and Greed Index — the most popular metric used to gauge Bitcoin price sentiment — jumped over the weekend, moving from 11/100 to 19/100 on Tuesday, July 5th.
The price of Bitcoin jumped in tandem with the metric, seeing it recover from a low of $19,037 on Saturday, July 2nd, to trade as high as $20,405 on Tuesday, July 5th.
The 3 day price chart for Bitcoin (BTC). Source: CoinMarketCap
After the significant recovery, the price of Bitcoin has once again retraced below $20k. The leading crypto is trading at $19,500 at the time of writing, while the Fear and Greed Index is currently gauged at 14/100.
The 24 hour price chart for Bitcoin (BTC). Source: CoinMarketCap
- On a larger scale, the Fear and Greed Index has remained static in extreme fear territory, with investors unconvinced that macroeconomic and idiosyncratic jitters will wane anytime soon.