Bitcoin climbed back above $64,300 this week, recovering from a dip below $62K as the S&P 500 pushed to a fresh record. The rebound came even as crypto sentiment stayed stuck in "Fear" territory, exposing a gap between rising prices and cautious traders.
Bitcoin clawed back above $64,300 by Wednesday morning, reversing a slide that had pushed it below $62K earlier in the week. The recovery came alongside a move in stocks: the S&P 500 pushed above 7,050 for a fresh all-time high.
The correlation between the two markets isn't always reliable, but it held this week. When stocks set records, traders tend to warm back up to digital assets.
Bitcoin near $64,300, still flat for the week
Bitcoin was trading near $64,300, up roughly 0.4% over the past 24 hours and about the same over seven days. Ethereum hovered just below $1,900, essentially flat on the day. Solana added 0.2% to trade near $74, while XRP slipped to $1.06, extending a quiet slide away from headlines.
Lower-cap tokens moved more sharply. Uniswap's UNI token jumped 10% on Tuesday, and Zcash gained 7% over the same stretch. That lifted DeFi to the top of the weekly sector rankings, but the sector's actual weekly change was essentially flat, suggesting Tuesday's pop was more a recovery from earlier losses than a breakout.
Sentiment stays stuck in "Fear"
Sentiment tells a different story than price. The crypto Fear and Greed Index remains in "Fear" territory: it read 27 at the time of writing, little changed from last week's 29. That gap is exactly what the index is designed to flag: a market pushing higher while investors still act nervous.
$62K becomes the line to watch
Traders are watching $62K as near-term support after Monday's dip tested that level and held. $65K has acted as resistance in recent sessions, and a clean break above it on volume would shift the short-term picture.
Source: Crypto Briefing
Trading involves risk.
Risk Disclaimer
