The price of Bitcoin surged to a new all-time high above $82,000, leading to extreme greed in the crypto market.
The Crypto Fear and Greed Index reached a reading of 78 out of 100, indicating heightened optimism among investors.
Bitcoin's surge in price and market sentiment is accompanied by gains in Ethereum and meme coins like Dogecoin.
The market enthusiasm is influenced by changing geopolitical conditions, as well as the anticipation of greater regulatory clarity under the re-election of Donald Trump as U.S. President.