Key facts
- Bitcoin reached a high of $84,726.28 on Wednesday.
- The 50-day exponential moving average for Bitcoin is near $80,782.
- The Relative Strength Index for Bitcoin is 58.5.
Bitcoin traded near $84,500 on Wednesday, up 2.5% over 24 hours, as the crypto market rebounded from a mid-October slide. The total crypto market capitalization rose 2.6% to $2.82 trillion. XRP led gains among major cryptocurrencies with a 4.1% increase, while Zcash jumped 11.2%. The Crypto Fear & Greed Index stood at 55, indicating a neutral sentiment. Factors influencing the market include easing oil prices and Treasury yields, though inflation remains a concern. Bitcoin's price action shows it has reclaimed the 50-day exponential moving average, a sign of an uptrend, with momentum moving towards a bullish mood.