1. The US government is allowed to sell $6.5 billion of seized dark web Silk Road Bitcoin
The U.S. government has been granted permission to liquidate 69,000 Bitcoins ($6.5 billion) seized from Silk Road, an official confirmed to DB News today. Notably, this comes less than two weeks after the new administration took office, which had promised not to sell the coins. A federal judge ruled on December 30 that the U.S. Department of Justice (DOJ) can sell 69,370 Bitcoins seized from the Silk Road darknet marketplace. The DOJ cited Bitcoin's price volatility as a reason for pushing for permission to sell the assets. When asked about next steps, a DOJ spokesperson said, "The government will continue to move forward with steps based on the ruling in this case."
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2. Reuters: Trump may launch at least one crypto-friendly policy on his first day in office
The cryptocurrency industry has been lobbying Trump to issue an executive order within his first 100 days to establish a U.S. Bitcoin Reserve, ensure the industry has access to banking services and create a cryptocurrency advisory committee. The industry expects at least one of those orders to come by Jan. 20.
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3. QCP Analysis: Bitcoin rebounded to $95,200 and then came under pressure, or tested the key support of $92,000
QCP analysis pointed out that Bitcoin briefly rebounded to $95,200 last night, successfully testing the key support of $92,500, but market sentiment was under pressure again in early Asian trading today due to the news that the US government applied to sell the BTC confiscated by Silk Road. Macro factors also continued to exert pressure. The latest minutes of the Federal Reserve meeting showed a hawkish stance on inflation risks and may slow down the pace of interest rate cuts. The weak performance of ADP employment data contrasted with the JOLTS job vacancy data, exacerbating market uncertainty. In the options market, the term spread widened further, and short-term volatility was under pressure. The implied volatility of the 17Jan ATM option fell by 3 fluctuation points compared with last night. It is expected that the price of Bitcoin will be consolidated in the range of $92,000-95,000. If it falls below $92,000, it may test the round mark of $90,000.
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4. Zhou Xiaochuan, former governor of the People's Bank of China: Global public debt is approaching $100 trillion
Zhou Xiaochuan, former governor of the People's Bank of China, recently pointed out at the "Boao Forum for Asia New Year Outlook 2025" event that the impact of digital encrypted assets on global financial stability and financial security requires a high degree of vigilance. He mentioned that the international economic recovery in 2025 is full of uncertainties. Against the backdrop of an intensifying debt crisis, global public debt is approaching US$100 trillion, and emerging markets have significant external financing costs and exchange rate pressures. Crypto-assets may play a complex role in this process, especially in the absence of effective supervision, or increase financial systemic risks. Zhou Xiaochuan emphasized that currently, countries need to strengthen cooperation in the supervision of crypto assets on a global scale and improve the behavioral norms for digital currency transactions.
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5. Trump-themed digital cards debut on Bitcoin network via Ordinals protocol
The NFT series backed by U.S. President-elect Donald Trump has launched its first 160 pieces, called "Trump Bitcoin Digital Trading Cards," on the Bitcoin network using the Ordinals protocol. Users who receive 100 NFT cards from the "Mugshot Edition" are eligible to claim them through NFT marketplace Magic Eden after submitting their Bitcoin wallet. As of press time, users have minted 19 of the 119 available Ordinals, and the claim period will last until January 31.
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