According to Lookonchain, a newly created wallet has withdrawn 1,398 BTC, valued at $118.3 million, from the Kraken exchange approximately 35 minutes ago. This significant withdrawal might indicate a potential shift in market sentiment or whale investment strategy. Traders should monitor for any impact on Bitcoin's price movement or liquidity changes on Kraken. Source: Lookonchain.

According to Matt Hougan, the concept of 'alt season' is obsolete as the crypto market has transitioned from speculative to fundamental, leading to more variation in individual asset returns. This shift suggests traders should focus on asset-specific fundamentals rather than broad market trends.