The cryptocurrency market is in a state of “extreme greed.”

The last time the index reached 80 was on April 9, 2024, shortly before Bitcoin corrected by 18% over the next three weeks. Then, in early April, the flagship cryptocurrency fell from $69,135 to $56,500 as of May 1.

Despite the potential correction signal, most analysts are optimistic about Bitcoin’s future. After the flagship cryptocurrency approached the $90,000 mark, experts expect the asset to rise to $100,000 this year. This is also believed by users of the DeFi forecasting platform Polymarket, who estimate such a probability at 62%.