The Crypto Fear & Greed Index Stays in Greed Territory Despite Israel-Iran Military Activity
The Crypto Fear & Greed Index stayed in the Greed territory with a score 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 responsibility for the airstrikes. Iran responded on Friday night with “dozens of ballistic missiles.” The Crypto Fear & Greed Index, which tracks market sentiment, remained above 50, indicating continued optimism in the crypto market.
In a similar situation last year, the index fell from a high Greed score to 43 (Fear) in under three weeks, following Iran’s April 2024 strike on Israel.
Bitcoin Price 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. The chart shows BTC holding above the $105,000 level but trading below the 50-period EMA, currently 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 May 22. Since that peak, Bitcoin has formed a series of lower highs and struggled to sustain momentum above $108,000. The chart also highlights increased selling volume during the drop below $106,000, while recent candles show smaller bodies and lower volume, signaling reduced volatility.
If Bitcoin fails to reclaim the EMA 50, further downside toward the $102,000–$100,000 zone remains possible, where major long liquidations could occur, 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 slightly 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 rising sell volume. The breakdown followed a failed attempt to reclaim the $2,800 level and coincided with multiple red candles accompanied by larger volume bars. Price now hovers around the $2,530–$2,540 range with weak recovery volume. If ETH fails to recover the EMA 50, the next support zones lie near $2,400 and $2,300, based on earlier consolidation zones seen in mid-May. Until Ether reclaims $2,600, upside attempts remain capped.
According to Farside Investors, spot Ether ETFs recorded $2.1 million in net outflows on Friday, ending a 19-day streak of inflows.
In contrast, spot Bitcoin ETFs registered $1.37 billion in net inflows over the five trading days ending June 7. This marked a full week of positive momentum for Bitcoin ETF products, based on the same data. The difference in flow patterns highlights a stronger demand for Bitcoin ETFs during the Israel-Iran conflict period.
Bitcoin Reacted Less Than It Did to Iran’s April 2024 Strike
Bitcoin’s recent drop of 2.8% was smaller than its response to Iran’s April 13, 2024, direct missile attack on Israel, when the price fell 8.4% in one day. That event followed the bombing of the Iranian embassy in Damascus by Israeli forces. On that day, the Crypto Fear & Greed Index showed 72 but dropped to 43 (Fear) by May 2. This time, even with new conflict escalation, Bitcoin’s drop remained smaller, and the index stayed within Greed territory.
Analysts React to Bitcoin Stability During Israel-Iran Conflict
Crypto analyst Zac commented on X that “Bitcoin does not seem concerned about the Israel and Iran conflict (yet).” The post was published on Saturday and pointed out Bitcoin’s limited response to geopolitical stress. Anthony Pompliano, a crypto entrepreneur, also posted on Saturday, writing, “Bitcoin is relentless.” Both referred to Bitcoin’s position above the $100,000 level and its behavior during escalating events. Their remarks were widely shared by traders tracking Bitcoin’s price performance alongside geopolitical conflict data.