I just checked the cryptocurrency fear and greed index, and it rose to 31 today, which means 5 points higher than yesterday according to Coinglass. Although the number improved a little, we are still in fear territory, so market sentiment remains quite cautious.

What's interesting is that the average over the last 7 days is at 27, much lower than the 30-day average which hovers around 43. This suggests that cryptocurrencies have been under pressure lately, although there seems to be some short-term recovery.

Based on this, the market still shows no signs of euphoria. When the fear index is at these levels, there is typically more caution than enthusiasm, so we will probably see more measured movements in the coming days.