Bitcoin Market Sentiment Enters Extreme Greed Territory at 78
Bitcoin has entered extreme greed territory, with the price exceeding $111,000. The current Fear & Greed Index stands at 78, indicating a bullish sentiment among traders.
Key Points
- The Fear & Greed Index ranges from 0-100, with values above 53 signaling greed and below 47 indicating fear.
- Extreme greed occurs above 75; Bitcoin is currently in this zone.
- Historically, extreme sentiments correlate with market tops and bottoms.
- Traders may use contrarian investing techniques to time their entries and exits.
- Whales have withdrawn a significant amount of Bitcoin from Binance, totaling 2,190 BTC (approximately $237 million).
- This withdrawal suggests increased demand for holding Bitcoin in self-custodial wallets.
- Bitcoin's current price is around $108,400, reflecting a 4% increase over the past week.
