I agree, the recent drop is a result of the escalating situation between Israel and Iran, but then the US also has a hand in it. A recovery is not impossible, but if things don't improve there then the predictable direction of movement is a deeper drop. Whales can certainly accumulate in this situation, but they also seem to be wary of overreacting.
Prices are now much more volatile, the USA at the time of Entering because it is known that they were totally exposed to the possibility of terrorist attacks and that things could turn ugly , the bad thing about this is that the more attacks there are, the prices of BTC go down , and normally, it is the panic they cause that makes the markets suffer, almost everyone buys gold out of fear.