Top Cryptos In The Green, Bitcoin Rebounds Past $20K; Bearishness Foreseen

As we write at around 10:55 am (IST) all major cryptos as compiled by Coindesk trade in the green. Bitcoin-the largest crypto by m-cap is up by 6.5% at $20,343, while Ethereum is gaining by close to 10% at $1157.

Likewise, all other cryptos barring Ripple (XRP), Luna Classic and Cosmos are trading in the green. Meme cryptos Dogecoina and Shiba Inu are also gaining between 0.7-1.1%. Further Solana is in traction with gains of over 19%, similarly Chainlink is also up by over 7%.

Bitcoin in trade today has breached $20,000 threshold which is seen as a psychological observation since the start of the crypto summer. At one point, the largest asset slopped below $19K.

As we write the global crypto m-cap as per Coinmarketcap.com stands at $915.90, up close to 6% over the previous day. The total crypto market volume over the last 24 hours is $57.15B, which makes a 49.05% increase.

Nevertheless, despite the good recovery, the crypto Fear and Greed Index continued to be tilted in the extreme fear territory after the crypto market as a whole absorbed latest blows. Amid such an environment, there is still seen bearishness in the space at least in the near term.

Note, Bitcoin which last year in November hit its peak of around $69K is now down by over 70% in some 8 months.