According to Alternative.me, the index increased to 48 on February 8th, indicating a "neutral" condition after almost three months in a state of anxiety or acute fear.

On December 22nd, the Fear and Greed Index reached 45, and Bitcoin saw a brief upswing from $46k to $52k before collapsing. Since then, the index has mostly oscillated within the "Fear" and "Extreme Fear" categories. Although the recent move represents a reset in terms of emotion, the week's bullishness does not rule out the potential of a return to red.

The score does reflect an upbeat attitude among cryptocurrency traders and investors.
Bitcoin saw heavy resistance at $45k. As a consequence, CryptoPotato said that millions of short positions were liquidated. The average funding rate remained low, indicating that traders are being cautious in the short term to prevent major liquidations. Additionally, the surge is accompanied by minimal volatility in the BTC options market.

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According to a recent Twitter thread, QCP Capital, cryptocurrency values have risen despite the NASDAQ trading down at the end of last week. However, it argued that this behavior does not necessarily indicate that crypto has decoupled from the NASDAQ; rather, it demonstrates the "concrete and focused crypto demand that exists at the moment."

According to the digital asset trading business, the increase may continue: "Given the lack of important macroeconomic developments leading up to the 17 February FOMC Minutes, we anticipate this upward momentum to continue."

However, during the last several hours, the market has corrected, with BTC presently hovering just around $43K.

$230 Million in Shorts Sold in 4 Days as Bitcoin Increased 18%

Bitcoin's price has increased by around 18 percent in the last four days, liquidating upwards of $229 million in short bets.

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The bitcoin community has been overwhelmingly positive over the last four days. While some caution remains, it looks as if the market mood is rapidly improving.

Bitcoin's price has risen by a stunning 18 percent in the last four days, from little over $37,000 to slightly above$44,000, where it is trading at the time of writing this (on Bitstamp)

Indeed, the price temporarily surpassed $45,000 during Tuesday's trading session, reaching as high as $45,500. It has been rectified to roughly $44K.

It's fair to say that bears have seen better days, as CryptoQuant data indicates that approximately $229 million worth of short positions were liquidated in the perpetual markets over this time period.

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Bitcoin is very volatile at the time of this publication, and it is critical to exercise extreme caution and vigilance.

Additionally, the aggregate financing rate is now negative.