The Crypto Fear & Greed Index jumped from 46 to 62, moving from Fear into Greed in just one day. That 16-point jump came as Bitcoin rallied sharply towards $70,000 and major altcoins followed.

The change is important because sentiment had been deeply weak. The index was sitting near 29 last week and 25 a month earlier, showing how quickly trader psychology has changed.
But Greed doesn't automatically mean $BTC is topping.
The index measures things including volatility, momentum, market activity, Bitcoin dominance, social trends, and search interest. When prices suddenly move higher, several of those signals can turn bullish at the same time.
There's another reason to stay alert: roughly $1.23 billion in short positions were wiped out during the rally. Forced buying helped push prices higher, meaning part of the move came from traders being forced to close bearish bets.