According to ChainCatcher and Cointelegraph, despite the escalating conflict between Israel and Iran, the cryptocurrency market sentiment index "Fear and Greed Index" remains in the "greed" zone. The index was updated to 60 on Sunday, maintaining the "greed" area, while Bitcoin dropped 2.8% on Friday to $103,000. This decline occurred after explosions were reported in Tehran at 22:50 UTC on Thursday, with Israel claiming responsibility for the attack. Iran reportedly retaliated on Friday night with "dozens of ballistic missiles". On Thursday, the index's "greed" score was 71.
Despite the tense geopolitical situation, market participants note that Bitcoin has shown relative resilience. Crypto analyst Za wrote on Saturday: "Bitcoin currently seems unperturbed by the Israel-Iran conflict (at least for now)." He added: "There is no better market sentiment indicator than Bitcoin, which I find very noteworthy." Crypto entrepreneur Anthony Pompliano posted that day: "Bitcoin is relentless."
Traders appear confident that Bitcoin can maintain its position above the psychological level of $100,000, which was reclaimed for the first time since May 8th. If it falls below this level, it could risk liquidating over $1.74 billion in long positions.
