Bitcoin has demonstrated notable resilience maintaining support above the $100,000 threshold despite escalating geopolitical tensions between Israel and Iran. The cryptocurrency registered a brief 2.8% retreat to roughly $103,000 following initial news of the geopolitical conflict but swiftly stabilized.
The market’s sentiment, as measured by the Fear and Greed Index, remains entrenched in ‘Greed’ territory at a reading of 60. This level reflects sustained investor confidence despite external political shocks.
Market analysts emphasize Bitcoin’s ability to withstand macroeconomic and geopolitical pressures, underlining its strengthened position as a reliable barometer for market conditions. Traders are notably focused on the crucial $100,000 technical support level, expressing guarded optimism that it can hold.
Maintaining support above $100,000 is viewed as critical to forestall substantial market volatility. Should Bitcoin falter and breach this key level, analysts caution it could trigger the liquidation of long positions valued at more than $1.74 billion.