Bitcoin market sentiment entered its strongest bullish phase in two years since March 2024. According to CryptoQuant analysis, the market sentiment index, which combines major fear and greed indicators, once reached 89 points, entering the 'extreme greed' zone. This index fluctuates between -100 and +100, and historically, such extreme values have acted as a signal indicating a major market turning point (Pivot Point). Bitcoin, having passed through a period of euphoria, is now engaged in a struggle to maintain its current price level as sentiment indicators stabilize downwards into the normal range. Having exited the bear market and transitioned into a bullish trend, the future volatility of market sentiment indicators is expected to be a key variable in determining short-term direction.
