Crypto Market Rebounds as Fear and Greed Index Hits 62, ETHFI, BPEP, XMR Lead Gains

The crypto market has experienced a temporary slowdown in its rally, but there are indications that it may soon rebound as investors maintain a risk-on sentiment, with the fear and greed index currently at 62, indicating a state of greed.

Analysts have pointed out that the crypto bull run may have more room to grow, citing Bitcoin's formation of a cup and handle pattern, as well as a bullish pennant, which are both positive signs in technical analysis.

In light of this, several cryptocurrencies have been identified as top picks to buy and hold during this bullish cycle. These include Ether.fi (ETHFI), Bitcoin Pepe (BPEP), and Monero (XMR).

ETHFI has seen a strong rally in recent weeks, driven by an increase in the total value locked in its decentralized exchange ecosystem, making it one of the industry's top players. The management's strategy of buying back tokens using profits has also contributed to its price jump, with weekly and monthly buybacks boosting staking yields.

Bitcoin Pepe, currently in its presale phase, has raised over $8.4 million from investors, making it one of the most successful projects this year. The project aims to disrupt the crypto market by being the first meme layer-2 on Bitcoin, offering instant transactions, low fees, and backing by the new PEP-20 standard.

Monero, the leading privacy coin, has seen a price surge this year following the lifting of US sanctions against Tornado Cash. Investors anticipate that exchanges like Coinbase and Binance, which previously delisted Monero, may relist it, driving its price to a four-year high. Technical indicators suggest further upside potential.

Other cryptocurrencies to consider as the fear and greed index hits 62 include Solana, Polkadot, Pepe, and Shiba Inu.