- The Bitcoin Fear & Greed Index has moved into the orange zone, implying that investor outlook on BTC is bullish.
- Jack Dorsey proposes Universal Basic Income powered by Bitcoin could boost demand for the asset.
- Bitcoin price crosses $41,000, adding $170 billion to the crypto market capitalization overnight.
- Analysts note that Bitcoin price broke a long diagonal downtrend after three months, $41,000 remains key level.
Bitcoin price rally added billions to the crypto market capitalization overnight. Proponents consider $41,000 a key level for Bitcoin price uptrend.
Bitcoin price breaks diagonal downtrend line after three months
The Bitcoin Fear & Greed Index is considered a reliable indicator of a shift in investor sentiment in the crypto market. The indicator read 37/100, the first move out of the red zone from December 2021.
Bitcoin Fear and Greed Index is 37 – Fear
Current price: $41,402 pic.twitter.com/BRYXtgLMfJ— Bitcoin Fear and Greed Index (@BitcoinFear) February 6, 2022
