Bitcoin's Bullish Future: Greed & Fear Index, Bank Predictions, and Options Expiry Drive Prices Higher.
Matrixport's Bitcoin Greed & Fear Index (GFI) has surged from under 10% to 93% in a week, indicating excess optimism and suggesting a breather ahead for the recent Bitcoin rally. However, the 21-day simple moving average of the index is still rising, indicating more upside potential after consolidation. Some analysts predict a rally to $35,000 and higher, with heavy resistance and reconsolidation expected before any move higher. Ether's GFI index is yet to reach 90%, meaning it could continue to rise while Bitcoin takes a breather.