Bitcoin Comes Close to $80,000, Posts 'Extreme Greed' Reading for First Time in 1 Year and 9 Months [Crypto Briefing]

[Financial News] Bitcoin is showing strength as it climbs to just below the $80,000 mark. The Crypto Fear and Greed Index also hit "extreme greed" for the first time in one year and nine months, reflecting a deepening appetite for risk assets amid the United States government's expanded buyback program for long-term Treasury bonds.
According to CoinMarketCap on the 24th, Bitcoin was trading around $79,000 as of 10:10 a.m., up 2.77% from the previous day on a 24-hour basis. It has risen 23.94% over the past week. Bitcoin's move above $79,000 comes for the first time in three months, since May.
In the Korean won market, Bitcoin is trading around 106 million won. Based on Cryprice, the Korea premium stands at -0.84%.
Bitcoin has continued its upward trend since the 19th, when U.S. long-term Treasury yields fell and expectations grew for faster cryptocurrency regulatory legislation.
Investor sentiment is also at a peak. The Crypto Fear and Greed Index provided by CoinMarketCap stood at 82 on the day, indicating "extreme greed." The last time it showed extreme greed was on December 18, 2024, when it reached 80. The index ranges from 0 to 100, with values closer to 0 interpreted as "extreme fear" and those closer to 100 as "extreme greed."
Institutional inflows are also continuing. According to CoinMarketCap, institutions have been net buyers of Bitcoin exchange-traded funds for five consecutive trading days from the 17th to the 21st.
At the same time, Ethereum was trading around $2,489, up 1.26% from the previous day. Ripple (XRP) was trading around $1.50, up 0.82%.

[email protected] Lim Sang-hyuk Reporter