Whales moved over 200,000 BTC during Bitcoin's 18% increase.

Since February 24, Bitcoin has increased by nearly 21%, outpacing other asset classes.


Since February 24, Bitcoin has increased by nearly 21%, outpacing other asset classes.
Bitcoin (BTC)

During Bitcoin's 18 % rise, whales have traded more than 200,000 BTC, according to Whalemap.


Bitcoin, the world's most popular cryptocurrency, recently surpassed the $44,000 mark, reaching its highest price since February 17. The bellwether cryptocurrency saw its highest daily candle on Feb. 28, gaining almost 15% in the previous 24 hours.


Following Monday's gains, the leading digital currency climbed even more, reaching a high of $44,981 on the first day of trading in March. Bitcoin was valued at $44,539 at the time of writing.



Despite the strong comeback, Bitcoin is still down about 6% since the beginning of the year. In addition, the cryptocurrency is down 35.20 percent from its all-time high. Since February 24, Bitcoin has increased by nearly 21%, well surpassing other asset classes.


Bitcoin's correlation with the S&P 500 has lately declined to 0.55 from 0.7, demonstrating the currency's diversification value.


The Fed's balance sheet has reached another record high of $8.93 trillion, according to Charlie Bilello, CEO of Compound Capital Advisors, which has more than doubled in the last two years as the Fed continues to buy bonds.


Inflation in the United States also reached a 40-year high this month. Bitcoin's popularity stems from the fact that it is thought to be a hedge against inflation.