The price of Bitcoin surged above $90,000, and whale transactions for these leading alternative currencies increased. Bitcoin's price made headlines again after jumping above $90,000, and this move is attracting the attention of smart money towards several leading alternative currencies. On-chain data shows that whale wallets are shifting capital into Bitcoin (BTC) itself, and Bittensor (TAO), which focuses on artificial intelligence.
Here, we take a look at what drives each asset and why analysts say RTX may steal the spotlight from the best alternative currencies today. Bitcoin price reaches $90,000: Short pressure fuels new momentum as Bitcoin exceeds $90,000.
Source: CoinGecko, the price of Bitcoin is hovering around $90,877 after rising more than 5% in five days. The negative perpetual funding rate indicates that short sellers are paying for long positions, creating potential pressure that could drive the price of Bitcoin higher.
Monday also recorded an inflow of $380 million into U.S. Bitcoin Spot ETFs - the largest single-day purchase since January - indicating renewed institutional demand. Traders point out that although Bitcoin is still down 5% for the year, it has recovered from a 30% drop in April, highlighting its resilience compared to stocks.
Large inflows combined with short selling pressure often create a backdrop that extends to the best alternative currencies afterwards.
Bitcoin's leap above $90,000 shows what happens when momentum aligns with institutional demand.
If Bitcoin's rise repeats its historical pattern of supporting strong narratives, RTX seems ready to ride this wave straight into the ranks of the best alternative currencies. Ready to explore Remittix.