After Bitcoin surged to around $80,000, investor sentiment indicators rose to their highest level since the crash in October 2025. The data suggests the market has shifted quickly from doubt to greed, and also serves as a reminder that price gains and declining risk are not the same thing. The report notes that the two rounds of rallies in January and May did not push sentiment to the same elevated level; the current optimism is more concentrated. Sentiment indicators are typically composed of factors such as price momentum, market breadth, and social discussion, making them useful for judging crowdedness, but not suitable for predicting a top on their own. Historically, extremely greedy periods may still see further upside, but pullbacks are often larger—especially when leverage trading is active. Next, the quality of this rally should be verified by combining spot ETF inflows, perpetual contract open interest, and funding rates. For those chasing the price, it matters more to buy in batches and set a maximum loss threshold than to predict the exact peak. This is also the limitation of sentiment indicators: they describe market conditions, not trading instructions. $BTC