According to BlockBeats, Cryptoquant analyst Axel Adler Jr. stated that in the past 24 hours, centralized trading platforms sold a total of 14,700 BTC, including 14,700 BTC sold at a loss and 3,100 BTC sold at a profit. Short-term holders cashed out a total of 17,800 BTC, with a net sale of 11,600 BTC.
Axel Adler Jr. pointed out that the backdrop for Bitcoin's decline is the U.S. attacking Iranian nuclear facilities over the weekend and joining the war between Israel and Iran. Iran may respond by threatening U.S. personnel and closing the Strait of Hormuz, putting the market on high alert.
