Bitcoin recently reached an all-time high of $123,091 on July 14 but has since experienced a slight price correction. This has been accompanied by a surge in whale transfers to exchanges, with the 7-day simple moving average of BTC transferred from whale wallets approaching 12,000 BTC, according to Glassnode. This level was last observed in November 2024. The increase in whale activity suggests a potential shift of capital into altcoins, which have seen notable gains. Ethereum, XRP, and Solana have risen by 19.98%, 25.98%, and 8.86% respectively, indicating a possible altseason. However, the altseason index remains at 36/100, suggesting Bitcoin still outperforms most altcoins over the past 90 days.