The current sentiment in the Bitcoin market is marked by extreme greed, according to Benjamin Cowen, founder of Into The Cryptoverse. Cowen highlighted this sentiment via a post on X (Twitter), accompanied by a screenshot of the Bitcoin Fear and Greed Index. This index tracks sentiment shifts influencing Bitcoin's price since 2018.
Over the past six years, the Bitcoin Fear and Greed Index has served as a potential indicator of price trends. With the current extreme greed level, Cowen suggests a critical threshold might be Bitcoin reaching $100,000. This significant milestone could be crucial in determining the cryptocurrency's future trajectory.
Market participants always closely monitor such indexes, as they can foreshadow potential price movements. The discussion surrounding Bitcoin potentially reaching the $100,000 mark adds to the current excitement and speculation in the cryptocurrency community.
