The dust has settled in the Middle East for now as the political posturing takes a back seat. Bitcoin prices have also settled a little from their roller-coaster ride over the past fortnight, but how closely related were the two events?

Bitcoin has spent the past day or so consolidating at the $8,600 level after a minor pullback on Sunday. Its epic 32% pump this month has been largely attributed to geopolitical tension in the Middle East as the safe haven narrative intensified.
On-chain analysis enables researchers to delve deeper into what has actually happened for the first three weeks of 2020.
Bitcoin Under The Hood
The CryptoQuant Team has released a research paper taking a deep dive into the analysis of bitcoin markets and trader behavior during recent events.
Looking at volume alone cannot determine whether people were purely day trading the asset more or seeking to hold it as a store of value during times of geopolitical adversity. Exchange outflows are used to ascertain whether people are intending to hodl for more than…

Click to continue reading on its source location…