BTC sentiment still overheated as price momentum slows

On-chain analyst Axel Adler Jr. said BTC’s composite investor sentiment index fell to 70.05 on Sept. 2 from 88.11 on Aug. 24 but remained in extreme greed territory. Over the same period, BTC slipped slightly to $77,640 from $78,680, suggesting strong investor sentiment did not translate into further price gains. Adler said elevated sentiment alone is not a bearish signal, but when prices fail to rise despite excessive optimism, the market may become more vulnerable to downside pressure if buying weakens.