Bitcoin’s Fear & Greed Index Surges: Is a Bull Run Coming After Job Report?

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The Bitcoin Fear & Greed Index has dropped to 37, signaling fear in the market, according to CryptoQuant. However, it bounced back on Saturday to 47, suggesting a mild recovery. Bitcoin is now trading at $62,222, up 1.15% after a 3% surge on Friday, driven by a surprising U.S. jobs report. The report showed 254,000 new jobs were created in September, way above the expected 140,000, and the unemployment rate fell to 4.1%. This positive news could reduce the chances of the Federal Reserve cutting rates aggressively. Interestingly, only BlackRock bought Bitcoin during this time, purchasing $40.8 million worth, while other big funds sold off significant amounts.