Key Takeaways
- Bitcoin's Fear & Greed Index remains in 'greed' despite Israel-Iran conflict.
- BTC price dipped 2.8% but stayed above $100,000, with over $1.74 billion in long positions at risk if breached.
- Spot Bitcoin ETFs saw $1.37 billion in weekly inflows, contrasting with spot Ether ETF outflows.
Market sentiment stays strong
The Bitcoin Fear & Greed Index held steady in the “greed” territory with a score of 60 on Sunday, even as Israel launched airstrikes on Iran and geopolitical tensions spiked.
Bitcoin’s price dropped 2.8% to $103,000 on Friday after explosions in Tehran, but the index slipped only modestly from its 71 reading on Thursday.
Analyst Za on X noted:
“Bitcoin does not seem concerned about the Israel and Iran conflict (yet).”
Anthony Pompliano added:
“Bitcoin is relentless.”
Bitcoin price trends
Bitcoin, which was closing in on its all-time high of $111,970 set on May 22, is currently trading at $105,670.
Over the past week, Bitcoin is up 0.07%. Ether, by comparison, dropped 10.79% to a low of $2,454 before recovering to $2,534.
Confidence among traders remains, with Bitcoin holding above the psychological $100,000 mark—a level first reclaimed on May 8 after three months. If Bitcoin were to fall below $100,000, over $1.74 billion of long positions could be liquidated, according to CoinGlass.
ETF flows and historical context
Spot Bitcoin ETFs recorded $1.37 billion in inflows during the week ending Friday, according to Farside data.
April 2024 saw a steeper price drop after Iran’s direct attack on Israel, when Bitcoin fell 8.4% on April 13 and the index plunged from “greed” to “fear” within weeks. The current resilience stands out in comparison.
