The Bitcoin market sentiment has nearly reached extreme greed as the cryptocurrency’s price has rallied to the $68,000 mark. The “Fear & Greed Index,” an indicator created by Alternative that measures the average sentiment among traders in the Bitcoin and wider cryptocurrency markets, currently has a value of 73, indicating significant greed among investors.
This is a notable change from the market’s sentiment last week, when the index declined into the fear zone. Bitcoin has a tendency to move in the direction opposite to what the crowd is expecting, and the probability of such a move increases when traders lean towards one side, particularly in the extreme regions of the sentiment spectrum.
A top could become likely for the asset should the investor mentality continue to improve.
