The cryptocurrency market is currently basking in bullish trends as Bitcoin has now surged to hit $120K. The token is steadily moving forward, exploring new horizons with the crypto market’s fear and greed index hitting 70, suggesting a new wave of bullish momentum sweeping the market away at the moment. But what does this momentum truly mean for Bitcoin and its price trajectory ahead? Let’s find out.

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Fear and Greed Index Hits 70: What Does It Mean?

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Source: Watcher Guru

The cryptocurrency market’s fear and greed index is all about displaying the current market sentiment for the world to take note of. At present, the index is pointing at 70, which indicates that the market is currently exploring and undergoing a bullish market phase.

The drastic change in the index has been primarily fueled by Bitcoin’s rise towards $120K, with multiple external factors contributing to the change. For instance, Trump announcing crypto support for 401(k)s opens a plethora of avenues for the market to scale and progress upon. At the same time, Trump’s agenda to bolster the digital development in the US through the Genius and Clarity Acts has also paved a new bullish path for the market to delve into.

As a result, the market has now entered a “greed phase” marked with excessive hodling with moderate sell signals. This development is also setting the stage for markets to experience the much-anticipated altcoin surge, delivering profits in the process.

“The Fear & Greed Index has jumped from 64 to 70 in just a week, reflecting rising bullish momentum. Institutions and public companies now hold 1.85M $BTC—valued at $219B—tightening supply. $ETH hits its highest weekly close since Dec. 2021, and for the time being there’s infinite demand for $ETH. Soon momentum will move into Alts. The coming 90 days could mint more millionaires than the past five years combined. Get ready!!”

Bitcoin: Possible Next Targets and Trajectory

Cryptocurrency market experts and analysts have now started to predict bold price timelines for Bitcoin. Cardano founder Charles Hoskinson states that Bitcoin is poised to hit $260K by 2026.

In addition to this, Bitcoin whale activity has also surged, showing confidence in the asset’s future price path and trajectory.

In addition to this, the US President Donald Trump and his family have lately been showing special interest in the domain. This narrative is also accelerating the price of Bitcoin and Ethereum, helping them adapt to a new progressive price pace. In addition to this, constant global government support is also helping to amp up the fear and greed index to new levels.

“The family of the US president has bought $2 billion worth of Bitcoin at prices over $100K. Publicly called on the Federal Reserve to cut interest rates. Predicted Bitcoin will reach $1 million. Taken seats on the boards of Bitcoin treasury companies. They stated they want the US to buy Bitcoin. All openly, in public. We’re going much higher.”

Also Read: Chart Patterns Point to Explosive Dogecoin Gains by 2026: Details

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  • Fear and Greed Index