The Crypto Concern & Greed Index has reached 77, signaling “Excessive Greed” available in the market as Bitcoin trades close to its all-time excessive of $73,737.94.
Based on information from Alternative, the sentiment indicator exhibits a gentle enhance from final month’s studying of 61, reflecting rising market optimism.
Can Bitcoin hit new ATH?
Present market information reveals Bitcoin buying and selling at $71,790.53, with latest worth motion ranging between $70,863.71 and $73,562.33 over the previous 24 hours.
BTC has posted spectacular positive factors throughout a number of timeframes, attaining a 12.1% enhance over the previous month and an 8.1% rise previously week.
The Concern & Greed Index’s development tells a narrative of constructing confidence. Yesterday’s studying of 72 marked “Greed” territory, following final week’s related studying of 71.
The regular climb from final month’s extra reasonable studying of 61 signifies a constant build-up of market optimism.
The present studying of 77 represents the best stage of market optimism in latest months, approaching ranges usually related to potential market corrections.
This surge in sentiment coincides with Bitcoin buying and selling inside 2.4% of its March 14 all-time excessive.
Market observers observe that excessive greed readings usually precede main market actions, although the route of such strikes will be unpredictable.
The mix of worth motion and sentiment metrics suggests robust purchaser conviction, although historic patterns point out that intervals of maximum greed warrant cautious monitoring of market circumstances.
