Analysis: In the past 24 hours, short-term holders have collectively sold 17,800 BTC, with a net sell-off of 11,600 BTC.

BlockBeats News, June 23rd, Cryptoquant analyst AxelAdlerJr published a market analysis stating that in the past 24 hours, a total of 14,700 BTC was sold on centralized exchanges, of which 14,700 BTC were sold at a loss, and 3,100 BTC 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.

AxelAdlerJr mentioned that the background of Bitcoin's drop was the US attacking three nuclear facilities in Iran over the past weekend and joining the ongoing war between Israel and Iran. Due to Iran's potential response, which may include threats to US personnel in the region and possibly closing the Strait of Hormuz, the market is currently in a state of high alert.

Source

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