Bitcoin Holds Firm Above $100K as Crypto Worry & Greed Index Remains In Greed Zone During Israel-Iran Conflict
The Crypto Worry & Greed Index remained in the Greed area with a rating of 60 on June 9, despite rising military activity between Israel and Iran. The index dropped from 71 on Thursday, when explosions were reported in Tehran at 22:50 UTC. Israel claimed obligation for the airstrikes. Iran reacted on Friday night with …
The Crypto Worry & Greed Index stayed in the Greed area with a rating of 60 on June 9, despite rising military activity between Israel and Iran. The index dropped from 71 on Thursday, when surges were reported in Tehran at 22:50 UTC. Israel declared obligation for the airstrikes. Iran responded on Friday night with “dozens of ballistic rockets.” The Crypto Worry & Greed Index, which tracks market belief, remained above 50, suggesting continued optimism in the crypto market. In a similar scenario in 2015, the index fell from a high Greed rating to 43 (Fear) in under 3 weeks, following Iran’s April 2024 strike on Israel. Bitcoin Rate Drops 2.8% However Stays Above $100,000 Bitcoin (BTC) dropped 2.8% to $103,000 on Friday, then recuperated to $105,670 by Sunday, according to CoinMarketCap. The chart shows BTC holding above the $105,000 level however trading below the 50-period EMA, presently near $106,312, on the 4-hour timeframe. This decline followed a failed attempt to retest the all-time high of $111,970, set on Might 22. Since that peak, Bitcoin has formed a series of lower highs and had a hard time to sustain momentum above $108,000. The chart also highlights increased selling volume during the drop below $106,000, while recent candles reveal smaller sized bodies and lower volume, signifying minimized volatility. If Bitcoin fails to recover the EMA 50, further disadvantage towards the $102,000–$100,000 zone stays possible, where major long liquidations could take place, according to CoinGlass. Ether Drops 10.79% in One Week as ETF Inflows Stop Ether (ETH) dropped 10.79% during the week, reaching a low of $2,454 before rebounding somewhat to $2,538 by publication time. The 4-hour chart shows ETHUSD trading below its 50-period EMA, currently at $2,601.7, indicating bearish momentum in the short-term. After peaking near $2,870 earlier in June, Ether broke below the moving average on increasing sell volume. The breakdown followed a failed attempt to recover the $2,800 level and coincided with multiple red candles accompanied by larger volume bars. Rate now hovers around the $2,530–$2,540 range with weak healing volume. If ETH fails to recuperate the EMA 50, the next assistance zones lie near $2,400 and $2,300, based upon earlier debt consolidation zones seen in mid-May. Up until Ether recovers $2,600, upside attempts stay capped. According to Farside Investors, area Ether ETFs tape-recorded $2.1 million in net outflows on Friday, ending a 19-day streak of inflows. On the other hand, spot Bitcoin ETFs registered $1.37 billion in net inflows over the 5 trading days ending June 7. This marked a complete week of favorable momentum for Bitcoin ETF items, based on the same information. The distinction in circulation patterns highlights a more powerful demand for Bitcoin ETFs during the Israel-Iran conflict period. Bitcoin Responded Less Than It Did to Iran’s April 2024 Strike Bitcoin’s recent drop of 2.8% was smaller sized than its action to Iran’s April 13, 2024, direct missile attack on Israel, when the rate fell 8.4% in one day. That occasion followed the battle of the Iranian embassy in Damascus by Israeli forces. On that day, the Crypto Fear & Greed Index showed 72 however dropped to 43 (Fear) by May 2. This time, even with brand-new conflict escalation, Bitcoin’s drop remained smaller, and the index remained within Greed territory. Analysts Respond to Bitcoin Stability Throughout Israel-Iran Conflict Crypto expert Za discussed X that “Bitcoin does not seem worried about the Israel and Iran conflict (yet).” The post was released on Saturday and mentioned Bitcoin’s limited response to geopolitical tension. Anthony Pompliano, a crypto entrepreneur, also published on Saturday, composing, “Bitcoin is unrelenting.” Both described Bitcoin’s position above the $100,000 level and its habits throughout intensifying events. Their remarks were widely shared by traders tracking Bitcoin’s price performance alongside geopolitical conflict information.
Bitcoin Rate Drops 2.8% But Stays Above $100,000 Bitcoin (BTC) dropped 2.8% to $103,000 on Friday, then recovered to $105,670 by Sunday, according to CoinMarketCap. In contrast, area Bitcoin ETFs registered $1.37 billion in net inflows over the five trading days ending June 7. The difference in flow patterns highlights a more powerful demand for Bitcoin ETFs during the Israel-Iran conflict period. Bitcoin Responded Less Than It Did to Iran’s April 2024 Strike Bitcoin’s recent drop of 2.8% was smaller sized than its action to Iran’s April 13, 2024, direct rocket attack on Israel, when the cost fell 8.4% in one day. Their remarks were widely shared by traders tracking Bitcoin’s cost performance together with geopolitical conflict data.
