$BTC is afraid of what? Historically, during several major surges, the greed index was always between 85-90 at the end. Now the greed index is only 70, the bears have enough fuel, and retail investors' willingness to buy hasn't peaked yet. Conservatively, we still need to rally at least another 5000 points to get retail sentiment stirred up to looking at 120,000 before a significant drop occurs. 110,000 is easy to reach.