Bitcoin Traders' Greed Surges Amidst 12% Rally: Sell-off Imminent?

The Bitcoin Fear & Greed Index, which measures investor sentiment, has shifted from neutral to greed as Bitcoin experienced a 12% rally towards the $35,000 level. The index currently stands at 66, the highest since April, indicating a majority sentiment of greed. While extreme greed has historically preceded market tops, the current value is still below the threshold. Contrarian traders may be monitoring the sentiment closely to determine if it leans further towards greed or decide to sell. Bitcoin is currently trading at $34,500 after crossing the $35,000 mark.