Bitcoin (BTC) is oscillating around the $90K mark, with market interest remaining high and reaching an 'extreme greed' status according to the Fear and Greed Index.
Current Market Sentiment
The Crypto Fear and Greed Index has reached 'extreme greed,' indicating high market interest in Bitcoin. This may suggest a potential price pullback.
Historical Trends and Predictions
According to Soso Value, this is the fifth 'extreme greed' signal (above 80) on the FGI since 2021. Historically, an FGI above 80 has aligned with Bitcoin's local and cycle tops. For example, in early 2024, Bitcoin reached a local top above $73K following this signal.
Options Traders' Outlook
Data from Deribit reveals that large players remain bullish, increasing $95K-$110K calls. This reflects their confidence in Bitcoin's further rally, despite the return of retail investors.
The current market situation suggests a strong bullish sentiment with potential for further Bitcoin growth. However, the return of retail investors could indicate the start of a potential price pullback.
