Bitcoin rises 3% despite drop in investor confidence

Bitcoin rose 2.95% to $91,833.97, accounting for roughly 58.6% of the total cryptocurrency market capitalization

Cryptocurrency prices climbed on Thursday as investors sought to regain momentum, after Bitcoin touched its lowest level in seven months on Wednesday amid weakening market confidence.

Bitcoin rose 2.95% to $91,833.97 at 12:28 p.m. Mecca time, accounting for roughly 58.6% of the total cryptocurrency market capitalization.

Ethereum, the second-largest cryptocurrency by market value, gained 3.3% to $3,014.85, while XRP increased about 1.45% to $2.12.

The total global cryptocurrency market capitalization stood at $3.13 trillion, with a 24-hour trading volume of $179 billion, according to CoinMarketCap data.

Despite the upward momentum, the Crypto Fear & Greed Index fell to 15 points, down from last week’s average of 25 points, remaining within the “extreme fear” range of 0–20 points.