The crypto fear and greed index that tracks overall crypto market sentiment is still in the “greed” area despite the intensification of geopolitical tensions in Israel following a series of air strikes in Iran.
index Posted Despite Bitcoin, the score was 60 in Sunday’s update,BTC) fell 2.8% to $103,000 on Friday. It was reportedly the subsequent explosion Heared in Tehran at 22:50 on ThursdayIsrael claims to be responsible. It is reported that Iran revenge On Friday night, there were “dozens of ballistic missiles”.
On Thursday, the index’s greed score was 71.
Bitcoin is approaching its highest point
Bitcoin’s price declines as it is getting closer to retesting its May 22nd $111,970. At the time of publication, Bitcoin was trading at $105,670. according to Carry out a common market.
Ether (EtherethMeanwhile, the same period fell 10.79% to a low price of $2,454, and then recovered to $2,534 at the time of publication.
In this case, crypto market participants point to the relative power of Bitcoin. Crypto Analyst ZA explain In Saturday X’s post, “Bitcoin doesn’t seem to care about the Israeli-Iran conflict (not yet).”
“There is no better indicator than Bitcoin, which makes it worth noting,” ZA said.
Crypto Entrepreneur Anthony Pompomphio explain In an article on the same day, “Bitcoin is ruthless.”
Traders seem to be convinced that it will remain above the psychological value of $100,000 price level, the first time it has been recovered on May 8 in three months. A decline below this price level could put long positions above $1.74 billion at risk of liquidation, according to Data from Coinglass.
Meanwhile, spot Bitcoin Exchange Trading Funds (ETFs) experienced a week-long inflow in the trading week ending Friday, amassing $1.37 billion inflows in five days. according to to Farside data.
However, the live Ether ETF ended its 19-day inflow record on Friday, online Leak out $2.1 million.
Bitcoin falls below the April 2024 Iran attack
Bitcoin price fell after Friday’s air strikes, less severe than Iran in April 2024 Launched an unprecedented direct attack in Israel.
Related: Bitcoin Bull roars with $112K btc flirting
Strike is a retaliation Iran bombing against Israel The Embassy in Damascus issued a price drop of 8.4% on April 13, 2024.
Although the index scored 72 points on the same day, the index’s “fear” score was 43 as of May 2, 2024.
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