According to CoinMeta, U.S. bank strategists stated that investor sentiment has reached extreme levels since 2021, and they recommend reducing exposure to risky assets and shifting towards defensive assets. The team led by Michael Hartnett pointed out that the bank's bull-bear index has risen to 9.7, with the expansion of the stock market gains, inflows of capital into high-yield bonds, and narrowing credit spreads contributing to this optimistic sentiment. Hartnett advises investors to reduce their allocation of risky assets and turn to defensive assets, duration assets, and the U.S. dollar.