- Bitcoin and Ethereum show modest gains
- Fear dominates market sentiment since November
- Open interest rises, but prices remain range-bound
Despite a modest recovery in crypto prices, the overall sentiment in the market remains cautious. Bitcoin ($ BTC ) climbed 2.5% to $92,515 and Ethereum ($ ETH ) rose 1.6% to $3,253. This rebound comes as fears in the broader financial markets ease, yet crypto traders remain wary.
The Fear & Greed Index (FGI) currently sits at 29, placing the market firmly in the “Fear” zone. Since early November, sentiment has remained weak due to a series of market shocks — including high-profile liquidations and regulatory uncertainty. While prices are not crashing, they’ve been moving sideways, showing hesitation among investors to commit to big moves.
Rising Open Interest Shows Market Activity
Even as fear dominates, open interest — a metric that tracks the total number of outstanding derivatives contracts — is on the rise. This indicates that traders are actively positioning themselves, possibly anticipating a breakout from the current tight trading range.
At the same time, the total market capitalization has reached $3.33 trillion, suggesting underlying confidence hasn’t completely disappeared. However, with $263 million in liquidations in the past 24 hours, volatility is far from gone.
What’s Next for the Crypto Market?
The crypto market is currently caught in a push-pull dynamic. On one hand, technical indicators suggest potential for upward momentum. On the other, persistent fear and cautious sentiment continue to hold back any strong rally.
Until a clear catalyst emerges — whether from economic policy, ETF approvals, or global events — the crypto market may continue to trade within a narrow band. Traders should keep an eye on sentiment indicators and market volume to gauge the next potential breakout.
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