Bitcoin rallied while geopolitics escalated. As tensions around Iran burst and oil surged, @Bitcoin is not acting as a liquidity outlet, it attracts capital. $1.5B of ETF inflows followed the escalation. Leverage has already reset. Whale selling has slowed. The market structure is cleaner. The marginal buyers are ready. What the data tells us - a report by @jbutterfill: https://coinshares.com/insights/research-data/bitcoin-price-during-the-iran-conflict-what-the-data-shows/?utm_source=twitter&utm_medium=social&utm_campaign=Research-data_NA_05032026&utm_content=static_NA_iran-bitcoin(CoinShares)