Bitcoin market sentiment has reached its highest level since March 2024, briefly entering "extreme greed".

TechFlow reported on September 12 that according to CryptoQuant analyst Darkfost, the latest Bitcoin rally has pushed investor sentiment to its most optimistic level in nearly two years. The related market sentiment indicator once surpassed 89 points, entering the "extreme greed" zone, with the last occurrence of a similar level in March 2024.

Darkfost noted that when market sentiment becomes overly optimistic or pessimistic, it often warrants attention for potential trend reversals. Currently, the indicator has begun to pull back from previous euphoric levels, gradually returning to a relatively normal range, while Bitcoin's price attempts to hold its current position.