Wu reports that CryptoQuant founder Ki Young Ju posted stating that the “BTC-to-altcoin fund rotation” which once served as a core catalyst during the altcoin season has essentially vanished. Data shows that since 2021, the altcoin trading volume of BTC pairs has continuously collapsed, and the era of the traditional linkage where “Bitcoin’s rise drives altcoins to surge” may have come to an end.
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Wu said he learned that billionaire Grant Cardone posted on X that Cardone Capital is increasing its BTC holdings by 282 coins. It is reported that Cardone Capital's BTC exposure was previously around 1900–2000 coins; if all 282 coins are completed this time, the exposure may exceed 2200 BTC. However, this figure is an estimate based on public amounts and not an official disclosure of total holdings.
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🚨 HUGE: BTC is now down roughly $25,000 since January 1st. https://t.co/c8Et4JiCBL
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Bitcoin (BTC) is a digital asset and a payment system invented by Satoshi Nakamoto who published a related paper in 2008 and released it as open-source software in 2009. The system featured as peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value by now.
