Current market sentiment is holding strong with the long/short ratio sitting around 69% net long positions. What's worth noting is how this compares to our all-time high levels—back when we hit peak euphoria, we saw roughly 85% net long positioning, and here's the interesting part: there's an inverse correlation at play. Higher net long dominance actually tends to coincide with overbought conditions historically. So while 69% signals healthy bullish momentum, it's still below those extreme ATH levels where momentum typically faces resistance. Understanding this dynamic helps contextualize where we stand in the current cycle.