Greed

Ethereum

Bitcoin

The traditional financial and <a href="https://news.todayq.com/who-will-blink-first-fed-or-crypto-market/" target="_blank" rel="noreferrer noopener">crypto markets</a> reflect positive momentum as all indexes turned green. Global share markets reached their highest levels in over a year. This comes in as half as central banks signaled potential rate cuts. It triggered a wave of enthusiasm among investors. Greed in crypto market sentiments 
The belief in the market that the <a href="https://news.todayq.com/bitcoin-bull-run-might-halt-as-goldman-sachs-eyes-fed-cut-delay/" target="_blank" rel="noreferrer noopener">Fed’s interest rate</a> hike cycle has concluded has made assets like Bitcoin and Ethereum more attractive. Meanwhile, interest rate cuts are looked at as indicators of an improving economic condition, prompting a shift toward riskier assets. 
As per the reading, The Wall Street Fear &amp; Greed Index stands at 71 points out of 100. This indicates a state of “Greed” in the market, However, it’s nearing ‘EXTREME GREED’ territory. The Fed announced the end of rate hikes and potential rate cuts in 2024. Despite this CPI stood at 3.1% and core CPI at 4% (above the 2% target), fueled this sentiment. 
It is important to note that the Crypto Fear and Greed Index mirrored the market’s optimism. It surged by 7 points in the last 24 hours and settled at a current reading of 72 out of 100. The global crypto market surged by 4% over the past day. It stands at $1.61 trillion. The total crypto market volume over the last 24 hours jumped by over 2% to stand at $68.21 billion. Bitcoin making ways 
Bitcoin responded positively to the Fed’s decision, recording a surge of 4% to regain $42,000. However, the surge is also baked by expectations of awaiting regulatory approval for Bitcoin exchange-traded funds (ETFs). The correlation between the Fed’s interest rate policies and Bitcoin’s value here shows the cryptomarket’s sensitivity to global monetary shifts. 
Bitcoin is trading at an average price of $42,700, at the press time. BTC is up by 156% on YTD. Its 24 hour trading volume is up by 28% to stand at $29 billion. 
As we dig in, the Bitcoin Coinbase Premium Index reflecting the difference between Coinbase Pro’s USD pair and Binance’s USDT pair, indicates investor sentiment in the US market. 
As of December 14, market statistics show Bitcoin dominance standing at 49.6%, while, Ethereum at 16.3%. The Fear Index at 72, indicates a state of “Greed.” However, the top performing cryptocurrencies for the day include Solana’s BONK surging by 52.9%, HNT up by 34.7%, WOO jumping by 34.3%, ALEX surged by 60.2%, and MOBILE 159.9%. 
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Crypto greed index hits 72, mirrors Global market’s greed

Todayq News

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