According to ChainCatcher news, despite the escalating conflict between Israel and Iran, the cryptocurrency market sentiment index, the 'Fear and Greed Index,' remains in the 'Greed' range. The index showed a reading of 60 in Sunday’s update, maintaining its position in the 'Greed' area, while Bitcoin dropped 2.8% to $103,000 on Friday. This decline occurred after reports of explosions in Tehran at 22:50 UTC on Thursday, following Israel's claim of responsibility for the attacks. 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 still indicate that Bitcoin has shown relative strength. Crypto analyst Za stated on Saturday: 'Bitcoin currently seems indifferent to the conflict between Israel and Iran (at least for now).' He added, 'There is no better market sentiment indicator than Bitcoin, which I find very noteworthy.' Crypto entrepreneur Anthony Pompliano mentioned in a post that day: 'Bitcoin is tireless.'
Traders seem to remain confident that Bitcoin can stay above the psychological level of $100,000. This price has been reclaimed for the first time since May 8. If it falls below this level, it could lead to over $1.74 billion in long positions facing liquidation risk.
