The CNN Money Fear and Greed index is slowly inching toward the "greed" zone, but still remained in the "neutral" zone on Monday following a sharp rise in the US stocks on Friday.
The native token of bankrupt crypto lender Celsius Network (CRYPTO: CEL) was the biggest gainer last week, gaining 181% over seven days. The token’s massive rally was largely fuelled by a retail-driven short squeeze, with traders following the "#CELShortSqueeze" hashtag on Twitter.
U.S. stocks closed higher on Friday, also recording gains for the week.
Signs that inflation may have peaked boosted overall market sentiment, which resulted in the S&P 500 and the Nasdaq recording gains for the fourth week in a row.
Dogecoin (CRYPTO: DOGE) went on a tear during Sunday’s trading session, climbing over 16% higher before calming down to trade about 8% higher at press time. The crypto has been fighting to regain an important support and resistance level at $0.083.
Billionaire investor George Soros’ investment management firm, Soros Fund Management LLC, opened a fresh position in electric vehicle pioneer Tesla, Inc. (NASDAQ: TSLA) and doubled down on beaten-down tech stocks.
The risk-on mood has proved salubrious for the financial markets, and cryptocurrencies are no exception, especially Ethereum (CRYPTO: ETH), which has been a standout.