Bitcoin's price has skyrocketed past $66,000, triggering a significant shift in investor sentiment. The Crypto Fear and Greed Index has surged to 74, indicating a greedy market. This marks a stark contrast to the neutral sentiment observed earlier in the month, when the index stood at 54 and Bitcoin traded between $57,000 and $60,000.

After a period of heightened volatility and market fluctuations, the bulls have taken control, driving Bitcoin's price to new heights. Currently, the leading cryptocurrency is trading at $66,200, reflecting a 5% increase over the past seven days.

The Bitcoin rally has also boosted the spot exchange-traded fund (ETF) market, with inflows reaching a multi-week high. As investor sentiment continues to swing towards greed, the market may experience further growth. However, this surge in greed could also lead to a correction, a common occurrence in the crypto market.

The Crypto Fear and Greed Index is a key indicator of market sentiment, analyzing various factors such as market momentum, volatility, Bitcoin dominance, trends, and social media. A reading of 0-100, with 0 indicating extreme fear, 50 signaling neutrality, and 100 representing extreme greed, helps investors gauge market sentiment and make informed decisions.