tl;dr
Bitcoin prices dropped almost $4,000 within 24 hours after an Iranian missile strike on Israel. The asset, trading at over $64,000, plummeted to just above $60,000 following the attack. Although it has since recovered to around $61,700, it remains down 3% on the day. Market sentiment has shifted fro...
Bitcoin prices plummeted by $4,000 in less than 24 hours after an Iranian missile strike on Israel, but analysts remain unconcerned about its long-term trend.
Market sentiment has shifted from 'greed' to 'fear' according to the Bitcoin Fear and Greed Index, currently at 42 - Neutral, with Bitcoin trading at $60,836.
Despite the panic sell-off, analysts believe Bitcoin remains within its six-month range-bound channel and predict a potential dip before a rebound later in the month.
The specter of war in the Middle East has caused a 4.7% drop in total crypto market capitalization, with altcoins experiencing heavier losses.
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Bitcoin prices dropped almost $4,000 within 24 hours after an Iranian missile strike on Israel. The asset, trading at over $64,000, plummeted to just above $60,000 following the attack. Although it has since recovered to around $61,700, it remains down 3% on the day. Market sentiment has shifted from 'greed' to 'fear' according to the Bitcoin Fear and Greed Index, currently at 42 (neutral) with a current price of $60,836. Analysts remain unconcerned as Bitcoin stays within its six-month range-bound channel despite the selloff. The crypto market's total capitalization fell 4.7% on the day, standing at $2.26 trillion. Ethereum fell almost 8% to $2,450, with heavier losses for various altcoins.
Bitcoin prices dumped almost $4,000 in less than 24 hours following an Iranian missile strike on Israel late on Oct. 1. The asset was trading at just over $64,000 on Tuesday but it tanked hard to bottom out at a little above $60,000 following the attack. BTC has since recovered to around $61,700 during Wednesday morning trading in Asia, but it remains down 3% on the day. NO NEED TO PANIC Market sentiment has rapidly changed from ‘greed’ a few days ago back to ‘fear’ today, according to the Bitcoin Fear and Greed Index. > Bitcoin Fear and Greed Index is 42 – Neutral > Current price: $60,836 pic.twitter.com/gi3cDBB2L6 > However, this is nothing new, and the panic sell-off is largely irrational behavior. Some may label Bitcoin as a ‘safe haven’ asset, but it has previously exhibited this behavior during geopolitical tension. BTC dumped more than 13% in the days that followed Iran’s drone strike on Israel in mid-April. Conversely, commodities such as gold and crude oil are up today. Bitcoin pioneer Samson Mow saw the irony in this, posting on X on Oct. 2. > Imagine trying to hedge against war by selling #Bitcoin > to buy > paper gold that you can’t move anywhere in the event of actual war. > https://t.co/KX6WDaBJiM > — Samson Mow (@Excellion) October 2, 2024 > Analysts do not appear to be concerned as Bitcoin remains within its six-month range-bound channel despite this selloff. Veteran trader Peter Brandt observed that the recent rally did not disturb the sequence of lower highs and lower lows. “Only a close above $71,000 confirmed by a new ATH will indicate that the trend from the Nov. 2022 low remains in force,” he added. Meanwhile, analyst “IncomeSharks” predicted another dip before things pick up later this month . > #Bitcoin – > We are all taking guesses here. If we are to get Pumptober I think this is > still the likely scenario. Make people think $59k is the low but wick to $57k. > Then people are bearish and sell and we reverse. Slowly back up and finish the > month red then November green. pic.twitter.com/33wAPHswyz > > — IncomeSharks (@IncomeSharks) October 1, 2024 > ‘Rekt Capital’ said that BTC would test support at $59,800 following a retrace from resistance levels within the channel. ELSEWHERE ON CRYPTO MARKETS The specter of war in the Middle East has rattled the entire crypto market, with total capitalization falling 4.7% on the day, or around $150 billion. It currently stands at $2.26 trillion, according to CoinGecko. Ethereum fell almost 8%, dropping to $2,450,
More about Interlink Electronics Inc
Interlink Electronics Inc Summary
Interlink Electronics, Inc. designs, develops, manufactures, and sells force sensing technologies that incorporate proprietary material technology, firmware, and software into standard sensor-based products and custom sensor system solutions. The company is headquartered in Irvine, California.
Sector: Technology
Industry: Computer Peripheral Equipment
Symbol: NEC
Market Cap: 35807100
Dividend Yield: None
EPS: -0.21
P/E Ratio: 1.282
Price/Earnings to Growth Ratio: -0.128
Volume: 12635000
50-Day Moving Average: 7
200-Day Moving Average: 21.01
Relative Strength Index (RSI): -0.284