Initially, BTC was responding mostly to buyer momentum, trading steadily. But on June 22, things changed dramatically. Iran launched missiles at Israel, followed by Israel’s retaliation, causing a sharp drop in BTC price, dipping below $99K.
There wasn't any dramatic event there Op neither is it strange this time of the bitcoin market being significantly affected by global insecurity tensions as a result of the Israel and Ukraine war.
Are you also hearing of the threats that this war may lead to WW2? As news flies, the IS government under Donald Trumps regime is supporting Israel and the Islamic Parliaments and the Iran allies are also throwing stones in coverage of fighting back?
All of that has contributed to disability of the economic system and it has verily affected investors plans on buying of bitcoin. Infact, it has caused discouragement of bitcoin liquidations.
So you must note that there're key elements that influences the price of bitcoin. There're also events that encourages buyers to buy bitcoin which at this time is a bad one for most enthusiasts because, they're all reacting according to the economy conditions which is caused by the ongoing war.
In the bitcoin market you call that emotional sentiments.