Whales Dump Bitcoin Amid Iran Conflict – Here’s Where the Smart Money’s Flowing

Bitcoin exchange outflows just hit panic levels as Middle East tensions escalate. The big players aren’t waiting around to see how this plays out—they’re already rotating into safer harbors.

Where’s the money going? Not your grandma’s gold ETFs. Crypto’s elite are doubling down on assets that thrive in chaos: privacy coins, stablecoin yield farms, and that one obscure DeFi protocol everyone pretends to understand.

Meanwhile, retail traders are still trying to time the bottom. Cue the ‘buy the dip’ tweets from guys with laser-eye avatars and negative portfolio balances.

Funny how ‘decentralized’ crypto still follows the oldest rule in finance: when guns go boom, whales swim deeper.

Whales are buying memecoins, despite the Bitcoin dip

Nansen’s analytics reveal significant interest in memecoins among whales. Specifically, 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.

The biggest winner made all of their profits on memecoins, achieving an ROI of 2,829% with a realized net profit of 196%. Most of these gains came from the USELESS memecoin token.

Memecoins have seen a strong recovery on June 23, with many of the top tokens seeing double-digit gains. Among the top gainers, SPX6900 was up 20%, Fartcoin was up 17%, and Mog Coin was up 22%. Still, these gains were not enough to cover their weekly losses.