Crypto Market Sees Extreme Greed as Bitcoin, Ethereum Prices Soar

The cryptocurrency market is experiencing a surge in optimism, with the CMC Crypto Fear and Greed Index reaching an extreme reading of 83. This has pushed Bitcoin near $80,500 and Ethereum to around $2,500.

NEAR Protocol (NEAR) and Sui (SUI) are both printing bullish falling wedge patterns on their price charts. A technical setup that often precedes an upside breakout, this could signal a move towards the projected targets of $2.50 for NEAR and $0.87 for SUI.

Doctor Profit, an analyst who correctly anticipated the swift shift from bearish to bullish momentum, has reestablished his view that the bear market has ended. He believes Bitcoin's breakout above key resistance levels confirmed this transition into a Soft Bull Market.

The technical setups on NEAR and SUI come as traders are cautiously bullish, watching for a confirmed breakout before committing to larger positions. A breakout above $2 for NEAR or $0.84 for SUI would validate the wedge patterns and potentially open the door to their respective targets.