Daily Crypto Update: Bitcoin Gains 2.5%; Fear & Greed Index Shows Greed

The crypto market jumped back again on Thursday after a questionable 24-hour performance. Bitcoin, Ethereum, Solana, and other top coins gained considerable value in the market.

The shift pushed the Fear & Greed Index back to 61, demonstrating moderate greed among traders. (Source: Cointree)

Although the major coins performed well, the OG memecoins outshined the competition. Both Dogecoin and Shiba Inu accumulated 10.85% and 21.64% growth in 24 hours, respectively. On Thursday, the market even saw Bonk generate an 18.08% surge.

Here is the current overview of the crypto market with the latest developments to help traders make smart investments.

Bitcoin

After struggling for a couple of days, Bitcoin has finally passed the 64k-dollar mark. The market leader is now trading at 65,192 dollars.

The coin has generated a 2.54% daily growth, while its weekly performance shows a 2.19% surge. The inflows from Spot Bitcoin ETFs have gone up to 365 million dollars, preparing institutions and traders for a Q4 rally.

The initial significant resistance that Bitcoin will encounter at 65,517 dollars is anticipated to be overcome at the current rate.

Ethereum

In 24 hours, Ethereum also grew by 1.31% to test the 2,650-dollar mark. The coin is currently trading at 2,647 dollars with a weekly growth of 4.09%.

The second-largest crypto has its first major support at 2,602 dollars. On the other hand, its resistance level is placed at 2,666 dollars. Given the current conditions, Ethereum is expected to cross its resistance level over the weekend.

Dogecoin

The original meme coin surprised the market with a daily growth of 10.85%. DOGE crossed the $0.10 and is trading at 0.1234 dollars right now.

Its weekly performance also shows a growth of 15.53%.  Whale activity is the biggest reason for Dogecoin’s sudden surge. An increase in the community is suggesting a massive uptick for DOGE in the near future.

Shiba Inu

SHIB, or Shiba Inu, also managed to make a statement on Thursday.  Within the top 100 ranks, the coin outperformed every other coin.

The meme coin raised 21.64% in value in the past 24 hours. Its weekly growth has also surged to 31.55%. SHIB is currently trading at 0.00001902 dollars, with traders anticipating a future boost.

Its trading activity has also soared 172%, taking SHIB to the 13th rank in terms of market cap. After months, Shiba Inu holders now expect the coin to enter the top 10 ranks in 2024.

Bonk

Bonk closely followed SHIB’s daily growth, gaining 18.08% in 24 hours. The coin is currently trading at 0.00002254 dollars with a weekly surge of 21.32%.

When it comes to ranking, BONK has reached 54 in terms of market cap. Its 24-hour trading volume has also surged by 85.80%, taking the coin to 33 in terms of volume. With traders leaning toward meme coins, Bonk is expected to be a hot favorite in the coming weeks.