Bitcoin's Price Surges Above $28,000 Amid Growing Interest and Fear/Greed Index Highs

Bitcoin has decoupled from the US equities markets and is behaving as an uncorrelated asset class, with traders shifting their focus to the alternative available to the legacy banking system. The Crypto Fear and Greed Index has soared into the greed zone with a score of 66/100. The S&P 500 index rallied from 3,808 on March 13 and rose above the 200-day simple moving average, or SMA (3,935), on March 16. Ethereum buyers pushed the price above the $1,800 resistance on March 18 and 19 but could not sustain the higher levels. Dogecoin rose above the 20-day EMA ($0.07) on March 17, but the bulls could not push the price above the 200-day SMA ($0.08). Solana's SOL turned down from the 200-day SMA ($22.7) on March 18 but rebounded off the 20-day EMA ($20.98) on March 19.