Crypto News Today (Oct 31, 2024): Bitcoin Fear & Greed Index Signals Greed | Should You Buy?

The post Crypto News Today (Oct 31, 2024): Bitcoin Fear & Greed Index Signals Greed | Should You Buy? appeared first on Coinpedia Fintech News

The cryptocurrency market has taken a step back, with the market cap decreasing by 0.46% to $2.42 trillion over the last 24 hours. Amid the pullback, the trading volume also dipped by 15.93%, taking the numbers to $87.31 billion. However, irrespective of the fall in numbers, investor sentiment remains largely optimistic, with the Bitcoin Fear & Greed Index still sitting in “Greed” at 66.

Bitcoin’s momentum on the charts has slightly cooled off, as it has been trading along the $72,280.59 level after brushing the 24-hour high at $72,905.30. Although the 24-hour trading volume is down by 26.45%, we can expect a quick run to a new ATH soon. As the investor sentiment continues to lean into “Greed”.

Curious about Bitcoin’s outlook? Check out our Bitcoin Price Prediction for insights into BTC’s trajectory.

Ethereum has shown a mediocre uptrend, surging 0.19% to $2,647.28. In contrast, Solana faced a rather challenging day, dropping by 2.56% to $175.32. XRP also experienced a minor drop in prices by 0.78% to $0.5202. The lack of stability further highlights mixed sentiment in the altcoin market.

Explore our Ethereum Price Prediction to see if ETH could hit new highs.

Numerous altcoins saw a noteworthy run on their daily charts. Maker led the top 100 gainers with an 8.52% price pump to $1,252.38, Pyth Network and Chainlink followed next with 3.96% and 3.10% gains. On the losing end, Celesta faced the hardest brunt, dropping 9.27% to $4.66, with Ethena and Stacks also in the red, down 7.29% and 6.51%.

As the market awaits further developments, Bitcoin’s positioning near its peak price and the persistent “Greed” sentiment reflects an optimistic view from investors. The mixed altcoin performance, alongside notable movements among smaller coins, hints at an intriguing market setup moving into November. 

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