As the drums of war beat louder, one would expect the hearts of men to grow faint with fear. But alas, the crypto market, that great bastion of human ingenuity and folly, remains steadfast in its greed. The Crypto Fear & Greed Index, that trusty barometer of market sentiment, still points to a score of 60, firmly entrenched in the “greed” zone, despite the rising tensions between Israel and Iran.
It seems that even the sound of explosions in Tehran, the scent of smoke and fire, cannot deter the crypto enthusiast from his pursuit of riches. Bitcoin, that great leader of the pack, fell a mere 2.8% to $103,000 on Friday, a trifling loss compared to the devastation wrought by war. And yet, the Index remains unmoved, a testament to the unyielding optimism of the crypto faithful.
But what of Ether, that plucky upstart? Alas, it fared not so well, dropping 10.79% to a low of $2,454 before recovering to $2,534. Still, one cannot help but admire its pluck, its determination to rise again, like the phoenix from the ashes.
And what of the wise men of crypto, those sages who guide us through the treacherous waters of the market? Za, that great crypto analyst, proclaimed, “Bitcoin does not seem concerned about the Israel and Iran conflict (yet).” Ah, the wisdom of the ages! And Anthony Pompliano, that crypto entrepreneur, chimed in, “Bitcoin is relentless.” Indeed, it is a force to be reckoned with, a juggernaut that cannot be stopped.
But, dear reader, do not be fooled. The market is a cruel mistress, and she can turn on us at any moment. The psychological $100,000 price level, that great barrier, still looms before us. If we fall below it, woe betide us! For then, the long positions, those great bastions of hope, shall be at risk of liquidation, and the losses shall be dire indeed.
And yet, despite these dangers, the spot Bitcoin exchange-traded funds (ETF) continue to attract investors, like moths to a flame. A straight week of inflows, a staggering $1.37 billion, a testament to the enduring power of greed. But, alas, the spot Ether ETFs, those poor relations, ended their 19-day inflow streak, with net outflows of $2.1 million. Ah, the cruel fate that awaits us all!
But let us not forget, dear reader, that we have been here before. In April 2024, when Iran launched its attack on Israel, Bitcoin plummeted 8.4%. And yet, the Index, that great barometer, still registered a “Greed” score of 72. Ah, the folly of men! For soon, the score dropped to a “Fear” score of 43, and the losses were dire indeed.
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2025-06-15 07:01