Unhosted Weekly: Crypto Market Overview #13

🔥 Crypto Weekly Digest

🇺🇸 The US government has been authorized to sell 69,000 BTC (worth $6.5 billion) seized from the Silk Road case.

🪙 The CryptoQuant CEO believes that if these $6.5 billion in BTC are offloaded by the US government, the market could absorb it within a week.

🇬🇧 A former Investigative Committee officer, Marat Tambiev—sentenced to 16 years for bribery—faces the confiscation of over 1 billion rubles worth of BTC on behalf of the state.

👀 Anatoly Aksakov has mentioned the possibility of easing crypto regulations in Russia to speed up the industry’s development.

🪙 Binance has concluded its 2024 achievements and released its annual report.

💰 Michael Saylor has claimed that the nation which first prints its own currency to acquire BTC will gain a key advantage.

🇹🇭 Thai law enforcement has seized nearly 1,000 mining rigs from JIT Co for allegedly consuming electricity worth millions of dollars without authorization.

🪙 Stablecoin Transfers Drop 3X:

• Current stablecoin transfer volumes are three times lower than they were when BTC hovered near $100,000.

• Despite the decline, CryptoQuant indicates that the remaining volume should still be sufficient to sustain overall crypto demand.

💰 Top 3 U.S. Miners Hold 73K BTC:

• The three largest American mining companies collectively own 73,000 BTC, valued at over $6.7 billion.

• This underscores miners’ substantial stake in Bitcoin’s long-term growth.

🇸🇻 El Salvador Buys Another BTC

• El Salvador quietly added 1 more BTC to its strategic reserves.

• Continues the country’s trend of steady Bitcoin accumulation.

📈 Capital Group Invests in Metaplanet

• Investment giant Capital Group—managing $2.3 trillion—has acquired a 5% stake in Metaplanet (Japanese Bitcoin firm).

• This makes them the third-largest shareholder of Metaplanet, and they also remain the second-largest shareholder in MicroStrategy.

💸 Binance Traders Go Long:

• Over 66% of traders on Binance are “catching the bottom,” with a long-to-short ratio of 1.97.

• Nearly twice as many buyers as sellers suggests a bullish market sentiment among retail trad.