In the closing month of January so far, Bitcoin has risen by about 40%. The Fear and Greed Index, which in the early days of the year was around 25 points, today indicates “greed” in the cryptocurrency market. Does this signal further increases in the BTC price? Or is a correction now to be expected?
The rapid rise in Bitcoin price in January 2023 led the Fear and Greed Index to a high level of “greed.” Today’s index reading of 61 is a value not seen in the cryptocurrency market for more than a year:
Source: https://beincrypto.com/fear-greed-index-highest-in-14-months/