One thing I don’t hear many people acknowledging about Bitcoin’s recent price action is how Iran is being impacted by operation Epic Fury.
The West is doing everything they can to seize assets and control on/off ramps of the traditional system.
As a result, Iran is likely having to sell what it can (BTC) not what it wants to fund its operations.
Global hash rate dropping is also likely due to some of Iran’s infrastructure being taken out imo.