The Fear & Greed Index, tracking overall market sentiment in the cryptocurrency space, remains in the greed zone despite rising tensions between Israel and Iran.
Fear & Greed Index in the Greed Zone
In its Sunday update, the Index posted a score of 60, maintaining its position in greed territory despite Bitcoin falling 2.8% to $103,000. This followed explosions reportedly heard in Tehran, which Israel claimed responsibility for.
Price Dynamics of Bitcoin and Ethereum
Bitcoin's price as of now stands at $105,670, edging closer to the all-time high of $111,970 set on May 22. Ethereum, on the other hand, saw a drop of 10.79% to $2,454 before recovering to $2,534.
ETF Market and Response to Geopolitical Events
Spot Bitcoin ETFs posted significant inflows for the past week, accumulating $1.37 billion, while Ether ETFs ended a 19-day inflow streak with a net outflow of $2.1 million.
Despite geopolitical risks and price declines, the cryptocurrency market displays confidence, remaining in the greed zone under the current circumstances.
