Lisk Foundation's co-founder and CEO, Max Kordek, announced via Twitter that the foundation will convert 1,000 Bitcoin (BTC) to Ethereum (ETH) in the next 10 weeks. The purchased ETH will be deposited into a 2-of-3 multisig account, with each Lisk Foundation board member holding one key each. The move is aimed at staking ETH for a sustainable, long-term return, and to reduce risks with related third parties. The impact on the Bitcoin price is expected to be marginal due to the 1,000 BTC split over 10 weeks.

Bitcoin saw a rebound on Saturday after hitting a two-month low, as investors bought the dip in price. The cryptocurrency rose from a recent support point following Friday's breakout, climbing above a key support point at $26,500. The 14-day relative strength index (RSI) found a floor at 36.00, and if bulls lead the charge to the possible target of 43.00, bitcoin could be back above $27,000 this weekend. Ethereum also saw an increase in position sizes as bulls took advantage of the multi-week low, rising above the $1,800 mark. The RSI found stable support at the 41.00 zone and price strength is now tracking close to a ceiling at 45.00, with a possible move back above a key point at $1,830.

Bitcoin's price briefly dropped below the key 200-WMA level of $26,096 on Friday before rebounding to a 24-hour high of $26,989. However, on-chain data suggests a bearish outlook for BTC price, indicating that it may be time to book some profits. The Puell Multiple, a key on-chain metric, has reached almost 2.0, which could be another confirmation that BTC price has likely reached its peak and may fall ahead. BTC prices started falling due to several factors, including macroeconomic factors, a wrong report on BTC selloff by the U.S. government, and high Bitcoin transaction fees.

The correlation between Bitcoin and Ether prices has dropped below 80% for the first time since November 2021, indicating that the two digital assets are no longer moving in tandem to the same extent as before. The 30-day correlation between Bitcoin and Ether has dropped to around 78%, implying that asset prices typically respond differently to broader macroeconomic conditions and other crucial events. As the link between Ethereum and Bitcoin continues to weaken, ETH and other tokens in the ERC-20 ecosystem may experience lesser volatility in response to large-scale events that can potentially shift markets. This development may lead to further price divergence between the two flagship assets given the current state of the market. The article compares and contrasts the unique features of Bitcoin and Ethereum, including their mining processes and transaction times, and also discusses their market values and potential future developments.

Investors are seeking safe haven assets amidst economic uncertainty, with gold and Bitcoin being considered viable options. Bloomberg's senior commodity strategist, Mike McGlone, believes that gold will continue to outperform Bitcoin in the coming months due to factors such as the Bitcoin-to-gold ratio. However, he maintains his bullish stance on Bitcoin and notes that both assets have been touted as possible safe havens due to inflationary pressure and the ongoing banking crisis. McGlone's sentiment follows his previous analysis that gold would likely outperform Bitcoin in a recession, especially if it involves a stock market downturn.

US bank deposits are expected to fall below $17 trillion for the first time in over two years, according to Genevieve Roch-Decter, CFA. This could be due to recent bank failures, inflation, growing mistrust, and recession. The rise in interest rates has also impacted bank deposits, leading people to seek alternative investment opportunities such as cryptocurrencies. Bitcoin, in particular, has been considered as a potential hedge against inflation due to its limited supply and decentralized nature, although it is also viewed as a highly speculative and risky investment.

Despite the bearish trend in the crypto market, venture capital firms completed several deals worth billions in the first quarter of 2023. However, the number and value of investment deals declined compared to the previous quarter, marking the fourth consecutive quarter of dipping investment activity for VCs. The report also noted a mix in the valuation trends, with seed and late-stage rounds growing while early-stage rounds plummeted. The crypto market as a whole has continued to decline, with most assets witnessing losses and Bitcoin struggling to maintain its price.

The correlation between bitcoin and ether prices has dropped below 80% for the first time since November 2021, indicating a significant change in the relationship between the two largest cryptocurrencies. According to data provider Kaiko, the rolling 30-day correlation between bitcoin and ether fell to about 78% this week. This means that BTC and ETH prices are not moving together as closely as they used to. The falling correlation reinforces the case for diversification by including both assets in an investment portfolio.

Bitcoin experienced a new low in the past 24 hours before recovering slightly, while altcoins like LDO saw significant price surges. The US CPI numbers for April initially caused a positive reaction in Bitcoin's price, but it quickly plummeted by over $1,000.

Bitcoin is approaching the 2024 block subsidy halving, which has led market participants to suggest that it is entering a prime "buy the dip" territory. Bitcoin halving cycles have historically followed patterns in terms of price activity, with each cycle containing a macro high and macro low for BTC price.