According to @KobeissiLetter, market sentiment has returned to 'Extreme Fear' while the S&P 500 sits roughly 2% below its all-time high, which they argue is not what typically precedes a crash, source: @KobeissiLetter. For traders, this points to a contrarian risk-on skew and reduced near-term crash probability per their view, source: @KobeissiLetter. The post provides no crypto-specific commentary, so any impact on digital assets is not specified, source: @KobeissiLetter.