Bitcoin Sentiment Indicator Rises to Two-Year High, Market Euphoria Cools

On September 12, CryptoQuant analyst Darkfost stated that the recent rise in Bitcoin has pushed investor sentiment to its strongest level since March 2024. The market sentiment indicator briefly reached above 89/100, entering the "extreme greed" zone. This indicator combines various data, including the fear and greed index, with a range from -100 to +100, corresponding to extreme fear and extreme greed, respectively. Darkfost pointed out that when market sentiment is extremely optimistic or pessimistic, it often signals a potential turning point in trends. Currently, as market euphoria gradually fades, the sentiment indicator is returning to more normal levels, while Bitcoin is still struggling to maintain its current price range.

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