According to the research organization Glassnode, from June 16 to 18, short-term investors transferred 16,700 $BTC worth $1.7 billion at the current exchange rate to cryptocurrency exchanges, obviously for subsequent exchange of coins, for example, for stablecoins. Cryptocurrency traders were not deterred by the financial damage incurred from these operations because they were frightened by the consequences of the armed conflict between Israel and Iran.
Profits and losses incurred by traders selling bitcoins
The chart shows that the losses of digital asset traders were accompanied by a drop in the price of $BTC from $109,000 to $103,450. Therefore, it can be confidently assumed that the escalation of the geopolitical situation in the Middle East negatively affected the price of bitcoin and abruptly halted the resumed upward trend.