Bitcoin (BTC) trades near $70,000 at press time on Friday as the US-Iran war impacts the global economy, linked with rising Oil prices. The sentiment in the crypto market is growing risk-averse, while institutions and large wallet investors, popularly known as whales, retain confidence.

Market gripped by fear, but institutional and whale interest holds steady 

The broader cryptocurrency market sentiment has dropped with Bitcoin retracing to $70,000 on Friday. CoinMarketCap’s Fear and Greed Index is at 31, suggesting that investors are gripped by fear. Additionally, the CoinGlass data shows over $411 million wiped out from the market over the last 24 hours, including $305 million of long liquidations, suggesting a bearish bias.