Bitcoin Sentiment Hits 'Extreme Greed' as Price Approaches $77,300

Bitcoin market sentiment recently hit its highest level since March 2024 as the price approached $77,300. According to CryptoQuant analyst Darkfost's index, Bitcoin reached an 'extreme greed' level of above 89.

This extreme reading is a signal that some analysts consider a potential turning point in the market. However, it is worth noting that no clear reversal has been confirmed yet.

Meanwhile, U.S. spot Bitcoin ETFs saw $462.7 million in net outflows during the week of September 8-11. This could indicate caution among investors despite the bullish sentiment spike.

Investors are also keeping a close eye on upcoming Federal Reserve decisions and inflation data for further market direction.