DOJ Approves Sale of Silk Road Bitcoin
A federal judge has authorized the U.S. Department of Justice (DOJ) to sell 69,370 Bitcoins (worth approximately $6.5 billion) seized from the Silk Road darknet marketplace. The ruling ends a long-running legal battle in which Battle Born Investments sought to delay the sale by claiming ownership through its bankruptcy estate. The group’s attorney argued that the DOJ abused the process and argued that the Civil Asset Forfeiture procedure was being abused. The DOJ cited Bitcoin price volatility as justification for accelerating the sale and said it would act in accordance with the court order.
XRP Investors Sell $1.6 Billion
XRP investors sold approximately 695 million XRP tokens in 24 hours during a six-week price lull, making a profit of $1.6 billion. This sell-off has led to a prolonged period of sideways movement, reflecting frustration over the token’s failure to break through key resistance levels. Long-term investors have played a key role in stabilizing the market by holding onto their gains and holding onto critical support levels. However, the increased selling pressure could put XRP’s support levels at risk, and if these levels are broken, the market sentiment could shift from neutral to bearish. The token’s future stability will largely depend on the resilience of long-term investors.
South Korea Plans to Lift Ban on Institutional Crypto Trading
South Korea has announced that its financial regulator FSC plans to gradually allow institutions to open accounts on crypto asset trading platforms. While only individual investors are currently allowed to trade crypto, the lifting of the ban will start with non-profit organizations. The move comes in line with President Yoon Suk-Yeol’s pledge to support the local crypto industry. In addition, it was announced that new steps are planned in the regulatory framework, including stablecoins and stock market regulations.
CFTC Chairman Rostin Behnam to Resign When Trump Takes Office
US Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam announced that he will resign from his post as of January 20. This development coincides with President-elect Donald Trump’s first day in office and will allow the new administration to appoint an interim chairman. Behnam spent a significant period of supervision by highlighting regulatory gaps in crypto asset markets, and the CFTC took serious steps against major crypto firms such as Binance, Gemini, and FTX. Who will replace Behnam is a matter of curiosity. In particular, Trump is expected to choose a pro-crypto candidate.
Bitcoin to Become a Strategic Asset for States in 2025
According to the report by Fidelity Digital Assets; Rising inflation, currency depreciation, and widening fiscal deficits will prompt nation states, central banks, and treasuries to make strategic investments in Bitcoin in 2025. The report notes that Bitcoin could act as a counterbalance to these macroeconomic challenges. It emphasizes that policy initiatives such as the “Bitcoin Act” in the US could encourage other countries to take similar steps. It is also anticipated that states could purchase Bitcoin secretly so as not to affect prices.
Bhutan’s Gelephu City Adds Bitcoin and Ethereum to Its Reserves
Bhutan’s Gelephu Mindfulness City (GMC) has announced that it will add digital assets such as Bitcoin (BTC) and Ether (ETH) to its strategic reserves. The move aims to increase economic resilience and support the region’s goal of establishing an innovative ecosystem based on blockchain technology.
GMC will favor digital assets with high market value and liquidity that operate on a secure blockchain. The region is building the legal infrastructure for digital financial services, and plans to promote international cooperation on the issue with a summit in March 2025, which will be attended by global leaders.
Arbitrum and Lotte Metaverse Collaboration
Arbitrum will partner with South Korea’s Lotte Group to offer blockchain solutions on its AI-powered metaverse platform called Caliverse. The partnership, announced at CES 2025, is supported by Arbitrum’s largest developer grant and aims to provide Caliverse users with low-latency transactions, crypto payments, and advanced virtual experiences. The collaboration stands out as a step that combines blockchain technology with traditional industries, while reinforcing Arbitrum’s growth in the gaming sector. With Lotte’s expertise in entertainment and retail, Arbitrum’s blockchain infrastructure aims to set new standards for future metaverse platforms.
Thailand Tests Crypto Payments for Tourists in Phuket
Thailand has launched a pilot program in Phuket where foreign tourists can pay with crypto assets such as Bitcoin. The initiative, announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, aims to make it easier for tourists to shop using their digital assets and boost the country’s competitiveness in the tourism sector. The program is designed in accordance with existing legal frameworks and includes tourists verifying their identities through local exchanges.
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BITCOIN (BTC)
BTC is priced at $94,460 as of the morning hours, losing 0.64%. Continuing its two-day decline, BTC fell to $92,500 yesterday and recovered with rapid purchases, but started the new day with a decline again. For BTC, which momentarily tested the $94,490 resistance level, it will be important for it to maintain its permanence above this resistance level in a positive trend. Then, the $95,387 and $96,283 levels can be met as resistance in the continuation of the rise. In a possible negative trend, the support level of 93.390 and then the $ 91.792 band appear as the support area where buyers are concentrated. For this reason, it will be important for investors to carefully monitor the determined critical support and resistance levels.
ETHEREUM (ETH)
ETH is priced at $ 3,327 as of the morning hours with a 0.01% loss in value. ETH, which has been on a downward streak for two days like BTC, started the new day with a horizontal trend. For ETH, which is moving below the middle band of the support zone, it will be important for it to first break the $ 3,332 and then the $ 3,373 levels in a positive trend and maintain continuity above them. In the continuation of the rise, the $ 3,346 level can be expected to work as the next resistance level. In case of a possible negative trend, $ 3,292 and then $ 3,260 are support levels. If it cannot encounter purchases from these levels, a decline to $ 3,157 levels may be seen. For this reason, it is important for investors to carefully monitor the determined critical support and resistance levels.
RIPPLE (XRP)
XRP is priced at $ 2.3620 as of the morning hours with a 0.46% loss in value. While declines were seen in the market yesterday, XRP closed the day with a 4.49% increase. If the positive trend continues for XRP, which tested the 2.3645 resistance on the new day, it will be important for it to first break the $ 2.3645 resistance and maintain its persistence above it. Then, the $ 2.4733 level may be met as the area where sellers are intense during the continuation of the rise. In a possible negative trend, 2.2709 and then 2.2305 levels are in support position. Below these levels, $ 2.1953 appears as the area where buyers are concentrated. It will be important to closely follow the support and resistance levels for the direction.
AVALANCHE (AVAX)
AVAX is trading at $ 37.20 as of the morning hours with a 0.60% loss in value. AVAX, which has been on a downward streak for two days, started the new day with minor pullbacks. If the negative trend continues for AVAX, which has been moving in the support area in the morning hours, the $ 36.40 and then the $ 35.50 area appear to be areas where buyers are concentrated. If these levels are broken, a pullback to $ 33 may be seen. For a possible positive movement, it will be important for candles to close above 37.29 first. Then, $ 38.84 and $ 40.06 levels may be met as resistance in the continuation of the rise. For this reason, it is important for investors to carefully monitor the determined critical support and resistance levels.
SOLANA (SOL)
SOL is priced at $ 195 as of the morning hours with a 1.25% loss in value. Continuing its downward streak for two days, SOL started the new day negatively and is moving just above the support level of $ 194.20. If the possible $ 194.20 support level is broken and remains below it, $ 191.26, and then the $ 189.30 – $ 187.30 band appear as support areas with intense buyers. In a possible positive trend, SOL has tested the $199.48 resistance many times and was rejected. In the continuation of the rise, closing above this level will be critical. Then, $205.11 – $208.60 can be met as a resistance zone. It is important for investors to carefully monitor the identified critical support and resistance levels.
