The current meta is not to long the new coin launches anymore but rather to short them.

Here are their drawdowns from their top :

$W : -64%
$MERL : -55%
$OMNI : -57%
$ENA : -47%
$ZEUS : -56%
$SAGA : -53%
$TNSR : -60%
$GMRX : -79%
$APRS : -73%
$PRCL : -38%

Bitcoin fell to $57,000, a 24-hour drop of 9.3%.

Reuters noted that Bitcoin had its worst monthly performance since late 2022 in April.

Investors' belief that the Federal Reserve may not cut interest rates this year has dealt a blow to interest-rate-sensitive assets such as cryptocurrencies.

Approximately $175B worth of Bitcoin are now held by ETFs, countries, public and private companies

Grayscale (GBTC) Daily BTC Flows: +63.1m, first inflow since ETF conversion

US spot Bitcoin ETFs saw a +$378.5m net inflows today.
It is the first positive net flow day since April 23rd, and the largest net inflow day since March 26th.
Largest inflow day since inception for $

Chinese scholars generally agree on the property attributes of Bitcoin and summarize: Bitcoin and digital currency has a relatively small space for legal order in China, but it is not completely banned. It is not a contraband. In fact, it can be traded and has economic value, so it can be recognized as property.

Coinbase saw trade volume in Q1 more than doubled to $312 billion, with institutional volume increasing faster than retail, accounting for 82% share of the total

Total valuation of L2s over ETH :

Market cap : 4.6%
FDV : 13.4%

And then you must add zkSync, Blast, Scroll, Linea, Aztec, etc.

It looks high on FDV, but not stupid neither, imo.

Digital asset investment products saw inflows for the first time in five weeks totalling $130m.

Regionally, the US saw the majority of inflows totalling $135m, with incumbent Grayscale seeing the lowest weekly outflows since January