Core Insights - Bitcoin and the broader crypto market have shown resilience despite macroeconomic challenges, with large holders maintaining their positions following significant market liquidations earlier this month [1][3] - The "dolphin" cohort, defined as entities holding between 100 BTC and 1,000 BTC, has continued to accumulate Bitcoin, which historically correlates with upward price momentum [2][3] - A recent report indicates that while annual holdings growth for this group is strong at 907,000 BTC, short-term demand appears to be waning as the 30-day balance has dipped below its moving average [3] Market Dynamics - Following a 30% to 40% rise in open interest, there is a 75% probability of positive returns for Bitcoin over the next three months, with historical data suggesting a mean performance of approximately 25.9% in the following 90 days [4] - Bitcoin and Ethereum have seen a modest increase of around 2% over the past 24 hours, while altcoins like World Liberty Financial, Hyperliquid, and Solana have experienced returns of 13%, 5.9%, and 5.8% respectively [4] - An increase in altcoin volume dominance relative to Bitcoin and Ethereum suggests a renewed interest in the broader crypto market, with altcoin trading volume rising by 33% to 46% since October 21 [5]