Recent geopolitical events have caused fluctuations in the cryptocurrency market, yet analysts note that investors are actively responding to changes.
Situation with Bitcoin
The conflict between Israel and Iran has resulted in a significant drop in Bitcoin's price. However, according to Nicolai Søndergaard, Research Analyst at Nansen, many investors are continuing to buy the dip. 'We are seeing exchange outflows, so people, regardless of being retail or institutions, are buying the dip,' Søndergaard noted.
Interest in Memecoins
Nansen's analytics have shown significant interest in memecoins among whales. All of the top earners in the past seven days who had at least a 50% win rate had some level of exposure to memecoins. One of the biggest winners achieved an ROI of 2,829% with realized net profit of 196% on the USELESS memecoin.
Future Perspectives
The observed changes in the crypto market may be temporary. Søndergaard added that the rebound in prices will depend on the severity of what comes next. 'Smart money still seems to be betting on a better outcome than most expect,' he stated.
Overall, despite current geopolitical risks, interest in Bitcoin and memecoins remains strong. Investors are adapting to new conditions, which may influence future trends in the cryptocurrency market.
