A Bitcoin whale that had been dormant for over a decade has suddenly moved 1,400 BTC worth over $36 million to a Pay-to-Taproot (P2TR) address, according to on-chain data. The move may have been made for enhanced privacy, as P2TR transactions allow for more complex output paths and scripts. This is not the first time that "ancient" Bitcoin wallets have woken up from dormancy in recent months, with several other large transactions being recorded. The reason for these sudden movements is unknown.

Bitcoin's price has seen a significant increase in 2023, with a year-to-date high of 31,064.18, which is just above 100% gain from its low. However, it is still below its annual pivot at 29,700.00 and above its 200-day simple moving average at 23,479.31. The weekly chart for Bitcoin is negative, with the cryptocurrency trading below its five-week modified moving average and its 200-week simple moving average or 'reversion to the mean.' The trading strategy recommended is to buy Bitcoin on weakness to its 200-day simple moving average and reduce holdings on strength to the annual pivot.

Bitcoin's dominance rate in the crypto market capitalization increased early Saturday, approaching the 50% mark for the first time since April 2021. This rise coincided with double-digit losses in alternative cryptocurrencies like SOL, MATIC, DOGE, and ADA due to rumors of a $2 billion portfolio dump by a proprietary trading firm. Bitcoin's relative outperformance may be due to increased haven demand as investors move money out of altcoins and into the world's largest and most liquid cryptocurrency. The steady rise in BTC's dominance rate since November and its surge during the March U.S. banking crisis suggests continued bitcoin outperformance in the months ahead.

Christian Anders, CEO of Btc.x, has stated that despite the implementation of the Markets in Crypto Assets (MiCA) framework, the European Union (EU) may need to lobby regulators and work with governments to ensure its acceptance in countries like Sweden.

Bitcoin has experienced a 4.1% drop in value over the past week, currently trading at $25,644, which is below the $27,000 resistance level. This is due to concerns over debt ceiling negotiations and regulatory uncertainty in the United States, causing BTC to hit a 30-month low. The total value locked across DeFi protocols has also decreased by 3.65% in the past 24 hours. The digital assets market has been showing bullish signals this year, but recent trends suggest it may be heading towards its first bad month of 2023.

The global crypto market experienced a 5% drop in market cap, totaling $1.05 trillion in the past 24 hours, with over 170,000 traders liquidated for a total of $350 million. Bitcoin and Ethereum both saw significant drops in price, with Bitcoin falling to a 24-hour low of $25,500 and Ethereum falling to a low of $1765. Altcoins such as Filecoin, Polygon, Cardano, Solana, Chiliz, Sandbox, Decentraland, Axie Infinity, and Shiba Inu all fell more than 20%. The market crash was attributed to various factors, including the US SEC lawsuits against Coinbase and Binance, Binance.US stopping USD fiat support, and Robinhood delisting Solana, Cardano, and Polygon.

The spread of Bitcoin on BinanceUS, the American affiliate of the crypto exchange giant, has increased significantly. Compared to Coinbase and Kraken, the BTC spreads against USDT and USD have more than tripled within the past week. According to crypto data firm Kaiko, BinanceUS's BTC spread is now 20 times wider than its competitors. This activity may be due to users selling off their BTC after the Securities and Exchange Commission filed a lawsuit against Binance, Binance US, and Binance CEO Changpeng Zhao. As a result, BinanceUS has announced the delisting of over 100 trading pairs and paused its OTC Trading Portal, as well as pausing USD deposits ahead of an expected freeze on dollar payments services from its bank partners.

Newly unsealed court documents have revealed that Mt. Gox was hacked in 2011 by Russian nationals, who stole over 647,000 bitcoin from the wallets between 2011 and 2014. The stolen bitcoin was liquidated through US companies and transferred to now-defunct crypto exchange BTC-e. The Department of Justice has updated its indictment of Alexander Vinnik, stating that his co-founders and co-owners of BTC-e did not participate in the exchange's criminal activities. Vinnik is currently seeking a prisoner swap with Russia and may be exchanged for Wall Street Journal reporter Evan Gershkovich.

Strike, a digital payments company, has announced that it has moved all of its customer bitcoin and U.S. dollar assets to its own in-house infrastructure. The move is part of a two-year effort to reduce counterparty risk and ensure the performance of the company's products and services. The company's customer base, spread across more than 65 countries, will now custody bitcoin and fiat directly with Strike. The transition to in-house custody brings short and long-term benefits to users, including increased deposit limits and the ability to send bitcoin directly to other users on a peer-to-peer basis.

Hut 8 Mining Corp., one of North America's largest digital asset mining pioneers and high performance computing infrastructure providers, mined 147 Bitcoin in May 2023 and sold 179 Bitcoin for proceeds totalling $6.8 million. The company holds an unencumbered Bitcoin balance of 9,233 and had an installed ASIC hashrate capacity of 2.6 EH/s at its facilities in Alberta.