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Bitcoin has finally reclaimed the $62,000 level as the crypto Fear &amp; Greed Index hits neutral. Ethereum jumped double digits in the last 24 hours, reclaiming the $2,600 level. 
Cryptocurrencies, in general, have resumed their upward trend after the week began on a negative note with a major slump. Monday’s market crash witnessed Bitcoin dropping to a low of $49,000. 
Ethereum was no exception, as it plunged to a low of $2,100. The total crypto market cap also dropped to the $1.8 trillion level amidst the bloodbath. 
However, over the past few days, the crypto market has been on a steady trajectory, with the global crypto market cap up by over 6.4%, standing at $2.13 trillion. <a href="https://coinmarketcap.com/" target="_blank" rel="noopener nofollow">CoinMarketCap</a> data shows that Bitcoin touched $62,600 briefly before falling to its current price of $60,900. 
<h3 id="ethereum-displays-double-digit-gains">Ethereum displays double digit gains</h3> 
Ethereum has defied all odds and staged double digit gains in the last 24 hours. A recent report by <a href="https://t.me/QCPbroadcast/1290" target="_blank" rel="noopener nofollow">QCP Capital</a> mentioned that Ethereum is continuing to underperform amidst the market recovery. 
However, in the last 24 hours, Ethereum has been up by almost 11%. ETH reclaimed the $2,700 level and is now trading at $2,680 at press time. 
Other altcoins are no exception, as Solana surged from a low of $110 amidst the market crash to its current price of $157.&nbsp; The crypto market, which was in extreme fear in the past few days, has climbed to <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener nofollow">neutral at 56</a>. 
<h3 id="bitcoin-s-jump-liquidates-almost-100-million-in-shorts">Bitcoin’s jump liquidates almost $100 million in shorts</h3> 
According to <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener nofollow">Coinglass data</a>, the recent jump in Bitcoin’s price has liquidated almost $100 million worth of short or bearish calls. Additionally, Ethereum short liquidations crossed $50 million. 
As per the data, over 52,000 traders were liquidated, with liquidations coming in at $221 million. Coinglass data shows that the largest single liquidation happened on Binance, which was valued at $12.99 million. 
Bitcoin’s daily new addresses have also been showing an interesting trend as the price surges. As per IntoTheBlock data, since November 2023, the number of daily new addresses has been on a downward trend. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Bitcoin's New Addresses Show Renewed Interest 
 Since November 2023, The number of daily new addresses has trended downward, a bearish signal indicating fewer new participants, particularly on the retail side. 
 However, the trend seems to be shifting, with the number of new… <a href="https://t.co/EpAjaqpcZG" rel="nofollow" target="_blank">pic.twitter.com/EpAjaqpcZG</a> 
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1821593270314791072?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">August 8, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
&nbsp; 
IntoTheBlock pinpointed that this was a bearish signal coming in from the retail side. However, the latest data shows a shift in this trend, as the number of new addresses has been on an upward trend in the past few weeks. This shift in trend is seen as a renewal of interest from retail investors.

Bitcoin reclaims $62,000 as Fear and Greed Index hits neutral

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