Bitcoin Reaches New High, Market Activity Increases

Bitcoin Reached Record Levels

Bitcoin (BTC) reached a new peak last weekend. This rise also led to an increase in Bitcoin's market dominance. The overall outlook for cryptocurrencies has been renewed. However, another notable development was the support for Abenomics by Japan's new Prime Minister. This indicates a loose policy orientation for the world's three largest economies: the US, China, and Japan.

These market dynamics provide strong support for asset prices. Additionally, blockchain data shows that whales have slowed their coin spending. According to Glassnode data, "medium-sized Bitcoin holders are accumulating strongly, whale distribution is moderating, and smaller assets remain neutral." These developments indicate a new structural demand formation despite the sales from large investors.

Change and Mobility in the Alternative Regime

On the altcoin front, Timothy Misir, Head of Research Department at BRN, stated that "Ethereum treasures now represent a greater circulating supply than Bitcoin treasures." This reflects the maturation of the market and capital transformation.

According to market data, digital asset products recorded a record inflow of 5.95 billion dollars last week. This is the highest weekly flow recorded. Looking at individual tokens, Tron (TRX) continues to target exceeding its 50-day moving average, supported by increasing activities on the SunPerp platform.

Meanwhile, Lido's (LDO) token saw a %7 increase last week, but lost momentum over the weekend, falling by %3 in the last 24 hours. VanEck, on Friday, created a legal trust for an ETF related to Lido Staked Ethereum. Meanwhile, Tokenomics has begun to draw attention to significant individual token unlocks; for example, more than $5 million unlocks are set to occur for tokens like APT, ATH, LINEA, and BABAY.

Developments in Traditional Markets

The Japanese Yen has depreciated against the US Dollar. This occurred alongside the Nikkei index reaching record levels in Japan. On the other hand, S&P 500 futures showed a slight increase of %0.12 despite the ongoing US government shutdown.

Ethereum (ETH) and the performance of other assets also draw attention. Bitcoin increased by %1.27 on Saturday, while Ethereum rose by %0.66. Another notable point in terms of total market capitalization is that Bitcoin's overall market dominance stands at approximately %59.09.