According to BlockBeats, Cryptoquant analyst Axel Adler Jr. stated that centralized exchanges sold a total of 14,700 BTC in the past 24 hours, of which 14,700 were sold at a loss and 3,100 were sold at a profit. Short-term holders cashed out a total of 17,800 BTC, resulting in a net sell-off of 11,600 BTC.
Axel Adler Jr. stated that the backdrop for the drop in Bitcoin is the U.S. attack on Iranian nuclear facilities over the weekend and the involvement in the Israel-Iran war. Iran may respond by threatening U.S. personnel and closing the Strait of Hormuz, putting the market on high alert.
