CryptoQuant analyst Axel Adler Jr. said Bitcoin's composite sentiment index fell to 70.05 on Sept. 2 after peaking at 88.11 on Aug. 24, but it remained in the extreme greed zone. Over the same period, BTC slipped from $78,680 to $77,640, showing that rising sentiment was not matched by sustained price momentum.
The extreme reading was driven mainly by the Fear and Greed Index, which posted a Z-score of +2.19σ, while CoinGecko voting stood at just +0.34σ, indicating relatively mild participant sentiment. Adler said sentiment is cooling but has not normalized, and the main risk is that extreme sentiment persists without follow-through in demand or price growth.
Bitcoin Sentiment Index Falls to 70, Still in Extreme Greed Zone
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