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As we know, the recent price rally in Bitcoin comes amid the flood of spot Bitcoin ETF applications making their way to the SEC. BlackRock triggered the trend once again with its filing and the Bitcoin valuation has grown by $100 billion since then. Since BlackRock filed for Bitcoin ETF, the BTC price has surged by more than 21% since then. advertisement Bitcoin’s rally has outstripped all other altcoins with its market dominance now at 50%. In a departure from previous trends, Bitcoin’s performance has diverged from stocks, resulting in a negative correlation with the Nasdaq 100. This marks the first time such a negative correlation has been observed since 2021. Courtesy: Bloomberg Bitcoin Whale Transactions Shoot Over the last three months since the beginning of April, BTC whales have been accumulating heavily. Massive whale transactions took place as the Bitcoin price shot past $30,000. On-chain data provider Santiment reports: 259 transact...

On-chain data provider Santiment reported that the Bitcoin exchange supply has dropped to a 5-year low as users choose self-custody amid the ongoing regulatory action. It reported: advertisement “Bitcoin’s exchange supply has now fallen to its lowest level since February, 2018. Traders continue moving $BTC to self custody during the uncertainty surrounding #Binance  & #Coinbase . As long as these #SEC lawsuits loom, this trend should continue”. Courtesy: Santiment On the other hand, there’s also a clear shift in traders’ focus from Bitcoins to altcoins. On-chain data provider Santiment reports that Bitcoin’s social volume has been finally declining with altcoins like Ethereum, XRP Network, and Binance coin coming into the picture. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List ...