According to The Kobeissi Letter, Bitcoin is experiencing a decline, trading 3% below its levels prior to the US reserve announcement. In the last 12 hours, Bitcoin's market cap has decreased by nearly $250 billion, indicating a significant capital rotation out of the cryptocurrency market despite the announcement being considered highly bullish.

According to glassnode, Bitcoin dominance has increased significantly from 38% to 59% following the FTX collapse, indicating a substantial capital shift into Bitcoin over other digital assets. This shift suggests investors are favoring Bitcoin as a safer asset amid market uncertainty.