Cryptocurrency Markets Rebound 5.6% as Bitcoin and Ethereum Show Bullish Signals

Cryptocurrency markets exhibited signs of recovery after a prolonged 13-day correction, with the total market capitalization rising to $3.37 trillion, nearing the peak of $3.52 trillion reached in late May. This rebound was supported by a bullish sentiment in traditional equity markets, with the S&P 500 and Nasdaq Composite both showing gains and nearing all-time highs. The Fear & Greed Index stood at 62 points, indicating a slightly bullish market sentiment after weeks of extreme readings.

Bitcoin, trading at $108,313, showed multiple bullish signals despite recent volatility. The gap between the 50-day and 200-day exponential moving averages (EMAs) increased, signaling bullish momentum and confirming a medium-term bullish outlook. The Volume Profile Visible Range (VPVR) highlighted a high-volume node between $92,000 and $96,000, establishing a critical support zone. Bitcoin’s Average Directional Index (ADX) stood at 19, suggesting a weakening downtrend, while the Relative Strength Index (RSI) was at a neutral 58, leaving room for upward movement. Additionally, global firms continued to accumulate Bitcoin, with Paris-based Blockchain Group raising $340 million to expand its Bitcoin holdings and Brazilian startup Meliuz announcing a share offering to fund additional Bitcoin purchases.

Ethereum, trading at $2,567, demonstrated resilience after testing the $2,500 support level. The 50-200 EMA configuration showed a bearish signal, but the narrowing gap suggested potential for a bullish crossover. Ethereum’s ADX reading of 22 indicated stability, while the RSI at 56 showed neutral territory with an upward bias. The technical indicators did not provide clear buy or sell recommendations for the short term.

Fartcoin, a meme token, surged 12.55% to $1.16, securing the 66th position in the market cap rankings with a market capitalization of $1.12 billion. The token’s technical indicators flashed uniformly bullish signals, with the ADX spiking to 23, approaching the threshold that confirms trend strength. The Squeeze Momentum Indicator showed the token breaking out of a prolonged squeeze, with momentum bars turning green and expanding into a bullish impulse. This pattern typically precedes explosive moves as compressed volatility releases. The addition of Fartcoin to Coinbase’s asset roadmap on June 6 continued to provide tailwinds, although the actual listing remained pending.