Extreme Greed is rising fast, but market structure is not yet showing full-blown euphoria 📈 The CMC Crypto Fear & Greed Index is currently at 80 – Extreme Greed, close to its yearly high of 81. Just one month ago, the index stood at 35 – Fear, meaning market sentiment has swung nearly 45 points in a relatively short period. ₿ Bitcoin is trading around $78.7K–$79K, still roughly 37% below its 2025 all-time high. This divergence is notable, as sentiment has already returned to an extreme level while price is only recovering sharply from its mid-year lows. 🔎 On-chain data has yet to reflect a true mania phase. NUPL remains near 0.33 in the Hope zone, MVRV is around 1.49, and SOPR sits close to 1.01, suggesting the broader market has only recently returned to profitability rather than entering the heavy distribution phase often seen near cycle tops. ⚙️ Derivatives also remain relatively balanced after the short squeeze. BTC funding is mostly around +0.002% to +0.008% per 8 hours, while U.S. spot Bitcoin ETFs recorded roughly $2.08 billion in inflows over the latest five sessions. This suggests the rally still has spot demand behind it rather than being driven purely by leverage. 📊 The $81K–$86K area is now a key supply zone, while $75K–$76K remains important support for the recovery structure. Extreme Greed therefore does not necessarily signal a market top, but after such a rapid advance, the probability of short-term consolidation or a corrective move has increased. #Bitcoin $BTC