$BTC Sentiment Just Hit an 8-Month High; And That's Exactly What Preceded a $19B Wipeout Last Time The Crypto Fear & Greed Index sat at 27 on August 12, deep in "fear" territory after 106 straight days below neutral, one of the longest pessimism stretches in its eight-year history. By Tuesday it hit 74, the highest reading since October 5, 2025. Five days after that October print, the market got hit with $19 billion in forced liquidations, the largest single-session total on record. The trigger this time traces back to Washington: the Treasury's August 19 decision to double long-bond buybacks sparked a short squeeze that wiped out $2.74 billion in shorts in a single day, then another $1.06 billion the day after. $BTC rode that squeeze to a 23% weekly gain, touching near $79,000. Here's the part worth sitting with before chasing the move: ETFs have actually been net sellers in 2026, holdings down roughly 92,000 BTC, and exchange premiums stayed negative through the rally. This looks like a price-driven squeeze, not confirmed institutional demand catching up to it. Friday brings the next real test; Fed Chair Kevin Warsh's first Jackson Hole keynote since taking the role. Sentiment has already eased back to 65. Whether it keeps easing or reignites depends on what he says. #BTC Price Analysis# #Macro Insights# #BTC