The Fear & Greed Index, which measures market sentiment for bitcoin and other digital assets, has reached a score of 79 out of 100, indicating a period of "extreme greed" among traders. This level was last seen in November 2021 when bitcoin hit its all-time high of $69,000. However, it is important to note that when investors become too greedy, the market is typically due for a correction. The index has consistently been above the threshold for "greed" since October 2021, but fell to 50 in January following the approval of bitcoin ETFs. Despite this, bitcoin has more than doubled in price over the past year, reaching a high of over $50,000 yesterday.