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At the time of writing, Bitcoin is trading at $22,441, Up 12.1% in the past 7 days, while Ethereum is up a whopping 42% in the past 7 days, trading at $1,561.65. The overall crypto market is up 8.1% in the past 24 hours after suffering a long stretch of downtrend following the mid-June market crash. The crypto market cap is finally above the $1 Trillion mark again, $1.08 trillion to be exact. And the overall sentiment appears to be shifting, although some believe this short bull run is a fake into a deeper bear market. Trader and renowned analysts Gareth Soloway recently called for a short uptick, particularly Bitcoin to 25k but warned not to be too excited, as the charts are showing bearish action afterward calling for Bitcoin to come as low as sub 10k. Despite this, the overall sentiment of the market has shifted. For the better part of June, the Fear & Greed index had been in the ‘Extreme Fear’ territory, with a rating of 6. At the time of writing, the Fear & Greed index still sits in Extreme fear, but jumped up 14 points and now sits at 20. The turn of the market has everyone questioning, is the bottom in? Macro investor and CEO of Real Vision Raoul Pal took to Twitter to chime in on the market conditions. Raoul believes the crypto market has likely been through the worst of it, and that a turn in macro conditions may be around the corner as well.
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