Is a simple analogy, if there is war, there will definitely be panic in the economy and people will be rushing to sell off the Bitcoin either to buy other things that they need or selling out of fear that the Price will drop because of the war, so for that during whatever war, there is always a market high volatilities because of the fuds that comes along with war.
Right, there are investors who doesn't want to see war because it might destroyed everything as the world will plunge economically. So they panic sell in the beginning, and then see how it goes. Although we can say that those who are selling have weak hands, but you can't really blame them for that. But as you can see, it's just a test for us Bitcoin holders, we have seen the Russian vs Ukraine war, and in the beginning, we are really affected, nevertheless, everything subside, and so the market bounce back. And even the Middle East conflict, we are not impacted that huge as expected. And so with that, we are being stress tested again, but the thing is that we are passed it again with flying colors and it has been proven that Bitcoin is being used as a hedge for conflicts.