Bitcoin Sentiment Hits 'Extreme Greed' Levels Not Seen Since March 2024
Bitcoin's market sentiment has reached its highest level since March 2024, according to CryptoQuant analyst Darkfost. The index he tracks briefly climbed above 89 out of 100, a reading that falls into the range he describes as 'extreme greed.'
The last comparable burst of bullish sentiment occurred in March 2024, Darkfost noted. He cautioned that unusually optimistic or pessimistic readings can appear around market turning points and deserve attention.
However, Bitcoin's price action has cooled down from its peak, with the current price trading near $77,300. This gives context to Darkfost's point about sentiment cooling while Bitcoin tries to hold its level.
The Federal Reserve's next policy meeting is scheduled for September 15-16, and investors are closely watching the market for any signs of a potential reversal.