The Fear and Greed Index, which depicts market sentiment, has surged to a 3-month high as Bitcoin (BTC) rallies 14% weekly.
Investors have become greedy as Bitcoin surpasses $60,000, with the Fear and Greed Index reaching a value of 71, indicating greed in the market.
The index had been in the fear zone but turned neutral on Monday, and has now entered the greed zone as Bitcoin climbed to $68,000.
Factors like rising demand and anticipation of the second leg of the bull cycle suggest that Bitcoin may not experience a significant correction despite the high greed sentiment.