What you said is true because I have also observed similar thing, that whenever there is a war between two big countries like the war between Israel and Iran , there is always fluctuations in the price of bitcoin. I believe the reason is as a result of fear since nobody knows what the outcome or how the war will end investors will always make impulsive decisions by selling there bitcoin and using the money to invest in other assets they believe the war wouldn't have effect on. However bitcoin has proven to be a potential coin such that whenever there is a cease fire the price will always go up. So investors risk tolerance differs there are investors that easily panic over little correction and also those are easily sway off there feet when ever there is war or news of war.