👉🏻 To understand how the current geopolitical events and the WAR are affecting investor behavior, and how the markets are reacting to this WAR, we can look at the BTC FLOWS and the changes in open positions in the DERIVATIVES market.

1️⃣ The Netflow data shows the difference between BTC sent TO Exchanges and BTC withdrawn FROM the exhanges.

The WAR news reached the markets on June 11, 2025. Since June 11, there has been NO significant change in NETFLOW, meaning there is NO clear increase in BTC being sent to EXCHANGES for selling FOR NOW.

2️⃣ Open Interest on Centralized Exchanges (CEXs) shows us the OPEN POSITIONS in the DERIVATIVES market. Of course, some LONG positions were liquidated as the price dropped a bit, and that's why open interest fell. But when we look at the bigger picture, Open Interest still looks strong, and investors are still keeping their positions open FOR NOW despite all the WAR news.

3️⃣ When we check the Open Interest on the Chicago Mercantile Exchange (CME), where FUNDS and SPECULATORS trade, we see that some positions were closed after June 11 and Open Interest dropped a little. But FOR NOW, there is still NO major exit movement.

🎯 CONCLUSION: As we’ve seen in past examples, there is NO big panic in the markets FOR NOW. There is NO noticeable increase in BTC being sent to centralized EXCHANGES. And although there is some pullback in both CEX and CME, most derivative positions are still being held open FOR NOW. This situation is currently quite HOPEFUL and seems to be caused by the market seeing the current geopolitical event and WAR as "LOCAL CONFLICTS".

⚠️However, it's UNCERTAIN whether this will continue, whether the WAR and tension will escalate, or whether the markets will react NEGATIVELY LATER. That’s why, without panicking, staying calm, sticking to the TWO-WAY GAME PLAN we prepared earlier, and watching the key levels we discussed in past analyses, the smartest move right now is to use the "WAIT AND SEE" approach.

Written by CryptoMe

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