Bitcoin sentiment tops 89 for first time since March 2024

Bitcoin market sentiment has risen above 89 on an index tracked by CryptoQuant analyst Darkfost, reaching its highest level since March 2024 before easing back. Summary Darkfost’s sentiment measure briefly entered the “extreme greed” range during Bitcoin’s recent rise. The analyst said the reading has since cooled while Bitcoin tries to hold its price. CoinGecko showed Bitcoin near $77,300 after a 24-hour range spanning roughly $76,400 to $79,600. U.S. spot Bitcoin ETFs recorded $462.7 million in net outflows during the Sep. 8–11 trading week. CryptoQuant analyst Darkfost said the last comparable burst of bullish sentiment came in March 2024. His measure briefly climbed above 89 out of 100 as Bitcoin rose, putting it in the range he describes as “extreme greed.” The reading has since moved down from its peak, according to Darkfost, even as Bitcoin attempts to hold its current price. He cautioned that unusually optimistic or pessimistic readings deserve attention because they can appear around market turning points. His observation identifies a risk to watch; it does not establish that Bitcoin has begun a reversal. Bitcoin sentiment has cooled from its peak Darkfost’s comparison wit...