The Bitcoin market sentiment is currently in the extreme greed zone, according to the Fear & Greed Index. This indicates that a further price cooldown may be needed before a bottom is reached. Historically, extreme sentiments have been important for Bitcoin, with tops and bottoms often occurring within these zones. The recent sentiment is still close to extreme greed, suggesting that a real turnaround may require more cooling off. However, Bitcoin has experienced a sharp 6% rebound in the last 24 hours, raising the possibility that the dip into greed sentiment may have been enough for a rally to restart.



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