The Crypto Fear & Greed Index has stayed in the “greed” zone despite heightened geopolitical tensions, following Israel’s recent airstrikes on Iran. In its Sunday update, the Index posted a score of 60, maintaining bullish sentiment even as Bitcoin dropped 2.8% to $103,000 on Friday.

This followed reports of explosions in Tehran on Thursday night, for which Israel claimed responsibility. Iran responded on Friday with a reported launch of dozens of ballistic missiles. The Index had recorded a higher “greed” score of 71 on Thursday.

Bitcoin’s recent price dip came just as it approached its May 22 all-time high of $111,970. At the time of writing, Bitcoin was trading at $105,540, while Ethereum had dropped by over 10% during the same period, hitting a low of $2,454 before recovering to $2,534.

Despite the geopolitical unrest, market participants noted Bitcoin’s resilience. Crypto analyst Za said, “Bitcoin does not seem concerned about the Israel and Iran conflict (yet),” adding, “There is no better indicator than Bitcoin, which makes this notable, in my opinion.” Similarly, Anthony Pompliano remarked, “Bitcoin is relentless.”

Market sentiment suggests confidence in Bitcoin holding above the psychological $100,000 level, which it reclaimed on May 8 for the first time in three months. A drop below this level could trigger the liquidation of more than $1.74 billion in long positions, according to CoinGlass.

Spot Bitcoin ETFs continued to show strong momentum, recording $1.37 billion in inflows during the trading week ending Friday, based on Farside data. In contrast, spot Ether ETFs ended a 19-day inflow streak with $2.1 million in net outflows on Friday.

Bitcoin’s recent decline was also milder compared to the one in April 2024, when Iran carried out a direct attack on Israel in retaliation for Israeli strikes on its embassy in Damascus. That incident caused Bitcoin to plunge 8.4% on April 13.

On that day, the Fear & Greed Index stood at 72 but fell to 43 by May 2.

Sources:

https://cointelegraph.com/news/crypto-fear-greed-index-bitcoin-price-israel-iran-tension

https://www.cbsnews.com/news/iran-israel-drone-attack-retaliation-strikes-on-nuclear-sites-and-commanders/

https://alternative.me/crypto/fear-and-greed-index/#google_vignette

https://x.com/ZaStocks/status/1934024656240922928

https://www.coinglass.com/pro/futures/LiquidationMap

https://farside.co.uk/ethereum-etf-flow-all-data/

https://coinmarketcap.com/