FLOKI (floki) 
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Bitcoin (BTC) has experienced a significant price dip amid the ongoing geopolitical tension between Israel and Iran, with the United States recently joining the conflict. Despite this, many investors appear to be taking advantage of the situation by buying the dip, according to Nicolai Søndergaard, a research analyst at Nansen.
Exchange Outflows Signal Investor Optimism
Søndergaard highlighted that substantial exchange outflows indicate both retail and institutional investors are seizing the opportunity to acquire Bitcoin at lower prices. He explained, “We are seeing exchange outflows, so it is likely that people, regardless of being retail or institutions, are buying the dip.” Historically, global disruptions such as wars tend to cause short-term dips in financial markets, often followed by rebounds.
However, Søndergaard cautioned that the extent of recovery will depend on how the geopolitical situation unfolds. He added that many savvy investors, often referred to as “smart money,” are cautiously optimistic about a better-than-expected outcome.
Smart Money Turns Risk-Off
While some investors are taking advantage of the dip, Søndergaard noted that a portion of the market, particularly institutional investors, appears to be adopting a more risk-averse approach. “Regardless of this, smart money still seems to be going a bit more risk-off,” he stated, referencing data from Nansen’s analytics platform.
Whales Shift Focus to Memecoins Amid Bitcoin Volatility
Interestingly, large-scale investors, commonly known as whales, are increasingly showing interest in memecoins, despite the broader market volatility. According to Nansen’s data, top-performing investors over the past week, who had at least a 50% win rate, maintained significant exposure to memecoins.
One of the standout performers achieved a staggering return on investment (ROI) of 2,829%, resulting in a realized net profit of 196%. This investor’s gains were primarily derived from the USELESS memecoin token.
Top Memecoin Gainers See Double-Digit Growth
Memecoins have shown signs of recovery, with several top tokens posting impressive daily gains as of June 23. Leading the pack were SPX6900, which rose by 20%, Fartcoin, up 17%, and Mog Coin, which saw a 22% increase. Despite these daily surges, most memecoins are still trading below their weekly highs.
While the broader cryptocurrency market remains under pressure due to geopolitical uncertainties, the interest in memecoins demonstrates the diverse strategies employed by investors. From accumulating Bitcoin during dips to capitalizing on high-risk, high-reward tokens, the crypto market continues to evolve with each passing event.
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