The Crypto Fear & Greed Index, a gauge of overall sentiment in the cryptocurrency market, has stayed in the 'greed' zone despite escalating tensions due to a series of Israeli airstrikes on Iran. As of Sunday, the Index registered a score of 60, indicating ongoing investor optimism, even as Bitcoin experienced a dip of 2.8% to $103,000 last Friday. This drop occurred following reports of explosions in Tehran, which Israel later confirmed it was responsible for, and Iran's reported missile retaliation.
Bitcoin had been approaching its all-time high of $111,970 from May 22, prior to this pullback, trading around $105,670 according to CoinMarketCap. Just the day prior, the Index was slightly higher at 71. Meanwhile, Ether's price fell 10.79% to a low of $2,454 but later recovered to $2,534 at the time of reporting.
Crypto analysts observed Bitcoin's overall strength, with one commenting on social media that the cryptocurrency seemed largely unaffected by the unfolding situation. Another crypto entrepreneur noted Bitcoin's persistence in maintaining its above $100,000 status, which it first hit on May 8 after a three-month dip. Falling below this threshold could risk significant liquidation for long positions, estimated at over $1.74 billion.
In the recent trading week, Bitcoin spot exchange-traded funds (ETFs) saw significant inflows, totaling $1.37 billion, suggesting continued investor confidence. On the contrary, Ether ETFs faced a net outflow for the first time in 19 days, losing $2.1 million.
The situation in the crypto market reflects past events where Bitcoin’s price suffered more drastically. Following an April 2024 attack on Israel, Bitcoin's price fell 8.4%. At the time, the Fear & Greed Index's score dropped considerably within weeks. Currently, while sentiment is high, market participants are keeping a close eye on geopolitical developments and their potential impact on crypto prices.
Bitcoin had been approaching its all-time high of $111,970 from May 22, prior to this pullback, trading around $105,670 according to CoinMarketCap. Just the day prior, the Index was slightly higher at 71. Meanwhile, Ether's price fell 10.79% to a low of $2,454 but later recovered to $2,534 at the time of reporting.
Crypto analysts observed Bitcoin's overall strength, with one commenting on social media that the cryptocurrency seemed largely unaffected by the unfolding situation. Another crypto entrepreneur noted Bitcoin's persistence in maintaining its above $100,000 status, which it first hit on May 8 after a three-month dip. Falling below this threshold could risk significant liquidation for long positions, estimated at over $1.74 billion.
In the recent trading week, Bitcoin spot exchange-traded funds (ETFs) saw significant inflows, totaling $1.37 billion, suggesting continued investor confidence. On the contrary, Ether ETFs faced a net outflow for the first time in 19 days, losing $2.1 million.
The situation in the crypto market reflects past events where Bitcoin’s price suffered more drastically. Following an April 2024 attack on Israel, Bitcoin's price fell 8.4%. At the time, the Fear & Greed Index's score dropped considerably within weeks. Currently, while sentiment is high, market participants are keeping a close eye on geopolitical developments and their potential impact on crypto prices.
