This week saw the total cryptocurrency market capitalization soar above $1.3 trillion on the back of major increases from many coins. The sentiment has also improved considerably across the board.

Bitcoin has surged in the past week and is now approaching the $31,000 mark. Several analysts have predicted that Bitcoin will continue to rise in the coming years, with some even suggesting that it could reach $1 million in the next 10 years.

Onramp, a bitcoin financial services firm, has launched a spot bitcoin trust that uses a multi-signature (multisig) capability to enable multi-party custody, where a group of separate custodians each hold a private key in a multisig arrangement. Onramp has partnered with qualified custodian Kingdom Trust and bitcoin financial services firm Unchained Capital to create a 2-of-3 multisig model, to give clients direct exposure to bitcoin without self-custody or the risk of trusting a single custodian. Each unit of the trust will be equivalent to one BTC, and clients will be able to process in-kind redemptions without triggering a taxable event. Onramp's offering sets it apart from Grayscale's bitcoin investment fund, which does not allow in-kind redemptions. Onramp plans to work with securities lawyers to reduce the 12-month lock-up period for redemptions and ensure compliance in all jurisdictions where it offers its services.

The price of Bitcoin has grown by over 50% since Tesla sold approximately $1 billion worth of BTC in July 2022. Tesla made a profit of $64 million from the sale, which accounted for 75% of its remaining reserves. However, the company still holds on to its remaining BTC, which is currently worth around $330 million, despite sitting at bear-market lows of around $16,000 in Q4 2022. Tesla has made roughly $165 million in profit from two separate Bitcoin sales, but currently sits atop an unrealized loss of around $56.6 million on its remaining BTC holdings, with a net profit to date of around $108 million. Analysts estimate that Tesla's free cash flow in Q1/2023 would be nearly $2 billion, reducing the chances of further significant Bitcoin sales in the near term.

Bitcoin (BTC) has gained over 80% year-to-date, leading to a doubling of Bitcoin millionaires, with over 50,000 new Bitcoin millionaire addresses emerging halfway through April, according to data from Finbold. The number of Bitcoin millionaire addresses as of April 14 stood at 80,659, up 187% from 28,084 BTC millionaire holders on January 5. The recent surge in Bitcoin price can be attributed to the crypto market overcoming bearish conditions of 2022, despite the banking crisis in March and the uncertainty surrounding Binance. As investors seek to diversify their portfolios and capitalize on the potential of digital assets, Bitcoin remains a leading choice. Bitcoin is trading at $30,710 and has gained 1.6% in the last 24 hours and a further 10% across the previous week, with a total market capitalization of $594 billion.

Bitcoin (BTC) broke through $31,000 on April 14, reaching new ten-month highs, while altcoins, led by Ethereum (ETH), surged higher, prompting talk of an "altseason." Analysts noted that Bitcoin looks strong but will likely experience some shallow corrections in an upward trend, with $29,700 being a key level to focus on. While sentiment was peppered with references to "altseason," commentators acknowledged that Bitcoin is still in the driver's seat mid-term, and it would take a cooling off for BTC price action to stimulate rapid altcoin growth. Nonetheless, the total altcoin market cap added $62 billion in two weeks, and some analysts believe that copycat gains on altcoins should follow an initial surge led by Bitcoin.

The options market for ether has seen more activity than bitcoin in the past 24 hours, with ether options contracts worth $1.23 billion exchanging hands across major exchanges, including Deribit, according to data tracking website Laevitas. This is nearly 60% of the global crypto options activity and 50% more than bitcoin's trading volume. The recent pick-up in activity in the ether options market comes after Ethereum's successful implementation of the Shanghai upgrade, which has opened withdrawals of over 18 million staked ether in the network since December 2020, boosting investor interest in ether call options. The increased demand for ether calls is evident from the short-term and long-term options skew, which have flipped positive.

The market share of Ethereum (ETH) has climbed to 19.8%, an increase of over 1.1% in the last 24 hours, while Bitcoin's market dominance has fallen by just under 1%, according to data from analysis site btctools.io. Since the beginning of the year, ETH's dominance has increased by 7.6%, while Bitcoin's market dominance has fallen to 47.7%. The rise in both BTC and ETH's market share has come at the expense of altcoins, most of which have been lackluster during the recent rally of the two top coins. Ethereum's surge has been driven by a successful Shapella upgrade on April 12, which released staked ETH on the Beacon Chain. (Cointelegraph)

Egg prices measured in bitcoins fell for the third month in March. 

Ether’s (ETH) fresh rally above $2,000 after the successful Shanghai upgrade late Wednesday, dropped bitcoin’s (BTC) dominance from an almost two-year record high, according to TradingView data.