The crypto fear and greed index continued recovering on Monday as investors embraced a risk-on sentiment resumed. It moved to the greed zone of 65, higher than last week’s low of 55.3. That price action coincided with the slow recovery of Bitcoin, which has jumped to over $66,800.
Cryptex Finance (CTX) token price jumped to a high of $5.90, its highest point since March 20th this year. It has soared by more than 55% from the lowest point this year.
Similarly, the Heroes of Mavia (MAVIA) token price has risen in the past six straight days and moved to its highest level since April 12th. It has soared by over 97% from its lowest level last week, making it one of the top-performing tokens.
Heroes of Mavia token has done well because of the popularity of the game, which has been downloaded by over 4 million across the iOS and Android. It has also jumped ahead of the upcoming launch of the Ruby Marketplace, which will boost commerce in the ecosystem.
Meanwhile, Theta Fuel (TFUEL) token price continued its recovery this week. It has jumped in the past four straight days, moving to its highest point since April 12th. It rose to a high of $0.1187 on Monday, which was about 625 above its lowest point last week and by 295% from its lowest level last week.
The other top-performing cryptocurrencies this week were Popcat, Farcana, Orca, and Dodo, among others.
Looking ahead, the next important catalysts for Bitcoin and other altcoins will be the upcoming US GDP and PCE report. Economists expect the data to show that the American economy continued doing well in the first quarter as the trillions of dollars in stimulus flowed through the economy.
They also believe that the PCE continued rising in March as the cost of energy jumped. As a result, if these estimates are correct, it means that the Federal Reserve will point to later interest rate cuts. Some analysts also believe that the Fed will even hike interest rates later this year.
An extremely hawkish tone by the Fed will be bearish for Bitcoin and other popular altcoins like Cryptex Finance, Theta Fuel, and Heroes of Mavia.
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