Crypto market in 'extreme greed,' needs deleveraging before $100K BTC

15:57 • 12 Nov

BTCUSD

BTCUSDT

Cryptocurrency markets may be overheating during the current parabolic rally, with some industry leaders warning of an incoming deleveraging ahead of the next leg up.

Crypto investor sentiment has risen to 80, or

"extreme greed" on Nov. 12, a day after Bitcoin

BTCUSD

price surpassed the $85,000 record

high on Nov. 11, according to data from the Crypto Fear & Greed Index from alternative.

The last time the index had a score of 80 was on April 9, just before Bitcoin saw an over 18% correction in the following three weeks, from over $69,135 to its bottom above $56,500 on May1