Air is still being pumped into the crypto market today, Bitcoin and Ethereum have risen further, Dogecoin is leg-humping with excitement and general sentiment is less fearful. Can it last?

As ever, opinion is divided on that one.

But let’s check in on the market’s leading sentiment tracker to get some sort of overall mood gauge.

Yep, it’s spiked. Swallowed a bag of concrete, hardened up and is finally out of the “Extreme Fear” zone it’s wallowed in like a baby for weeks now.

Bitcoin and Ethereum are both at their highest levels since mid September while”rekt” traders shorting the market have reportedly been burnt to the tune of more than US$1 billion over the past couple of days.

Just when we thought it was off, we might be in for an “Uptober” after all.

Source: Coinglass.com

We’ll throw some Crypto Twitterings that reflect the sentiment further below.

 

Top 10 overview

With the overall crypto market cap at US$1.04 trillion, up roughly 3.5% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

Ethereum’s move this week has been pretty stupendous and high-profile analysts, including Bloomberg’s senior commodity strategist Mike McGlone, have been taking notice.

The protocol’s Merge to proof-of-stake caught a lot of buzz initially with very little price action to support, but perhaps the fundamentals behind the bullish thesis are starting to gain traction on the charts.

Citing Ethereum’s “dominant position at the epicenter of the digitization of finance”, McGlone says, “Ethereum appears at a discount within an enduring bear market.”

Outspoken Australian Ethereum educator Anthony Sassano sees no reason to be bearish on the asset, given its significantly decreasing issuance of ETH tokens since the Merge.

Meanehile, look at Dogecoin with a +15% gain over the past 24 hours. What’s the story there? Well, partly some pump-promising technical analysis on the charts, according to the trader Bluntz, aka @SmartContractor. And he’s been calling that for a while.

But it’s also about this. Very much this. Elon Musk, Dogecoin fan no. 1 looks to be nearing the finalisation of his much-publicised Twitter deal/takeover. What will that mean for DOGE when he’s calling the shots at Twitter? Possibly something enabling, according to many a DOGE fan.

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$8.3 billion to about US$425 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

DAILY PUMPERS

• Klaytn (KLAY), (market cap: US$667 million) +15%

• EthereumPoW (ETHW), (mc: US$804 million) +13%

• WhiteBIT Token (WBT), (mc: US$1.49 billion) +10%

• Mina Protocol (MINA), (mc: US$442 million) +10%

• Lido Staked Ether (STETH), (mc: US$7.1 billion) +8%

 

DAILY SLUMPERS

• Chain (XCN), (market cap: US$1.13 billion) -7%

• Evmos (EVMOS), (mc: US$755 million) -3%

• Quant (QNT), (mc: US$2.5 billion) -2%

• Huobi (HT), (mc: US$1.19 billion) -3%

• ApeCoin (APE), (mc: US$1.48 billion) -1%

 

Lower, lower cap movers

DAILY PUMPERS

• dHEDGE DAO (DHT), (market cap: US$6 million) +33%

• NUM Token (NUM), (mc: US$29 million) +29%

• Illuvium (ILV), (mc: US$29 million) +24%

• Magic (MAGIC), (mc: US$29 million) +24%

• Ispolink (ISP), (mc: US$2.5 million) +14%

 

DAILY SLUMPERS

• Crypto Legions V3 (BLV3), (market cap: US$2.4 million) -56%

• Hop Protocol (HOP), (mc: US$6.7 million) -39%

• Hegic (HEGIC), (mc: US$19 million) -20%

• Clearpool (CPOOL), (mc: US$25 million) -11%

• Cult DAO (CULT), (mc: US$27 million) -10%

 

Around the blocks

A selection of randomness and pertinence that stuck with us on our morning moves through the Crypto Twitterverse…

And just to spoil the partying slightly, here’s US crypto analyst/trader and forex guy Justin Bennett…

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