Cryptocurrency Market Exits Extreme Fear Zone Amid Rebound in Bitcoin Price

The cryptocurrency market has seen a significant turnaround in recent hours, with the Crypto Fear & Greed Index rising to 16. This marks a notable improvement from its previous reading of 11, indicating a shift towards more positive sentiment.

The price of Bitcoin has also rebounded, reaching $67,729 after plummeting to a weekly low of $60,074. This upward trend has been accompanied by gains in other altcoins, including Ethereum, Binance Coin, and Solana.

Industry experts attribute this market recovery to the alleged manipulation claims against Jane Street, a quant trading firm that serves as an Authorized Participant for many crypto funds. Additionally, the influx of spot Bitcoin ETF products has contributed to the positive outlook.