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- China Sells Seized BTC to Boost Economy | News on Bitcoin Week 16 of 2025
China Sells Seized BTC to Boost Economy | News on Bitcoin Week 16 of 2025
Weekly crypto update on all things Bitcoin to keep you updated
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TL;DR
BTC is up
Bitcoin dominance is up
China Sells Seized BTC to Boost Economy
Schwab CEO Targets spot Bitcoin Trading by 2026
UK Firm, Abraxas Capital Buys $250M Bitcoin
US Buying 1M BTC Could Push Price to $1M
SPAR Switzerland Now Accepts Bitcoin
U.S. to Use Tariffs and Gold to Build Bitcoin Reserves
Tether Joins Ocean Pool to Decentralize BTC Mining
CleanSpark to Sell Bitcoin for Self-Funding Strategy
Bitcoin Miners Sell More BTC Amid Market Stress
And much more!
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Bitcoin Price
Crypto is down this week, with BTC up 1.2% and ETH up by 1.5%:
Coingecko As at 7:49 pm ET
Bitcoin dominance increased over the week, starting at 60.67% and reaching a high of 61.02%, before settling at 60.91%. Investor sentiment, regulatory changes, technological advancements, and the overall growth of the cryptocurrency sector shape Bitcoin's market dominance. Its reputation as "digital gold" also enhances its position, making it a key player in the market.
It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.
Bitcoin Market Update:
Bitcoin (BTC) is navigating a critical juncture, with analysts divided on its short-term trajectory yet aligned on a potentially explosive long-term upside.
Onchain accumulation by whales and macro-level fear indicators suggest the groundwork for a major move is underway, possibly propelling Bitcoin beyond the $100,000 mark.
Recent data from Glassnode shows that Bitcoin whales—entities holding 100 to over 10,000 BTC—are accumulating at unprecedented levels.
Whales and sharks are currently absorbing over 300% of newly mined BTC, far surpassing Bitcoin’s yearly issuance rate. Simultaneously, centralized exchanges are witnessing their most significant outflows in history, with yearly absorption rates falling below -200%.
This signals a fundamental shift toward long-term conviction and self-custody. “Whale behavior is similar to what preceded Bitcoin’s 2020 bull run,” noted onchain analyst Mignolet.
The trend is echoed by Glassnode's Accumulation Trend Score, where entities holding over 10,000 BTC are posting a strong 0.7 rating as of April 18—firmly in accumulation territory.
Whales holding >10K $BTC maintain a strong accumulation trend (~0.7), continuing to lead the market. Smaller cohorts - from <1 $BTC to 100 $BTC - are easing off their distribution, with the 10–100 $BTC group now hovering around 0.5, hinting at a potential pivot toward
— glassnode (@glassnode)
7:27 AM • Apr 18, 2025
From a charting perspective, Bitcoin has broken out of a multimonth falling wedge pattern, historically a bullish formation. Based on standard technical measurements, this breakout sets a target above $101,000. However, BTC is still contending with resistance near its 50-day and 200-day exponential moving averages (EMAs) around $85,300.
Market analyst Scott Melker remains cautiously optimistic: “The 200-day moving average remains overhead as resistance, and the horizontal level at $88,804 is still the key barrier to flip market structure and print a higher high,” he wrote. “Encouraging – but not convincing – yet.”
On April 7, the CBOE Volatility Index (VIX) spiked to 60—a rare signal historically associated with extreme market fear and potential bottoming in risk assets. Dan Tapiero, CEO of 10Tfund, highlighted that this level has only been reached five times in 35 years. “Odds favor better future,” Tapiero stated, implying that the market may be entering a phase of recovery and reaccumulation.
Julien Bittel, head of macro research at Global Macro Investor, added that more than 55% of Nasdaq 100 stocks now register a 14-day RSI below 30, signaling extreme oversold conditions. He drew comparisons to the 2008 financial crisis and 2020 COVID crash, both of which preceded major rebounds.
Bittel also cited sentiment data from the American Association of Individual Investors (AAII), showing 62% of respondents are currently bearish—the highest level since March 2009. “We’re back at the same levels of fear that marked the bottom of the equity market after the Global Financial Crisis,” Bittel said, reinforcing the idea that liquidity could soon rotate into risk assets like Bitcoin.
Totally agree with Dan on this.
Here’s a snippet from our latest MIT report, which dropped yesterday on @RealVision:
Tech stocks were recently the most oversold we’ve seen since COVID.
And get this – only seven other times since 1988 have more than 55% of NASDAQ 100 stocks— Julien Bittel, CFA (@BittelJulien)
11:27 AM • Apr 18, 2025
Not all analysts are aligned on the bullish outlook. Market commentator Tony Severino suggested that the Bitcoin/VIX ratio currently indicates bearish pressure. Using Elliott Wave theory, Severino noted a sell signal from early January and warned that BTC may have already peaked this cycle, though he remains open to reassessing this view by month-end.
Conclusion
While short-term headwinds remain, especially around key resistance levels, both technical and onchain data point to a longer-term bullish setup. Whale accumulation, historic levels of fear, and technical breakout patterns suggest that Bitcoin could be gearing up for a substantial move—possibly toward the six-figure threshold in the coming months.
Bitcoin (BTCUSD) Analysis
As of April 19, 2025, Bitcoin (BTC) is trading at $84,880. In the short term, BTC is consolidating between support at $84,000 and resistance at $87,300. A breakout from this range could define the next price direction. Medium-term indicators remain bearish, with a key support level at $70,000 and resistance near $92,500, suggesting continued downside risk. Long-term analysis is mildly bullish, with support at $72,000 and resistance at $106,000, pointing to a potential continuation of the broader uptrend if support holds.
Expected Trading Ranges:
Bitcoin (BTC): Support at $84,000; Resistance at $87,300
BTC/ETH ratio has seen an increase:
The BTC to ETH rate has increased over the week, exhibiting a consistent and strong upward trend, rising from 52.21 ETH on April 5 to a high of 53.65 ETH on April 17, before settling at 53.13%.
“Bitcoin will go through the same innovation cycles as the wheel. It will change over hundreds and even thousands of years, but it will always hold to the same principles.”
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Financial News
Abraxas Capital, a London-based investment firm, has acquired 2,949 Bitcoin worth over $250 million in the days leading up to April 19, as institutional investors continue to accumulate Bitcoin. This follows Michael Saylor’s purchase of $285 million in Bitcoin.
Despite growing institutional interest, analysts expect a quieter Easter weekend, with reduced market volatility due to the holiday. However, concerns over medium-term Bitcoin movements suggest potential volatility, although analysts indicate that weekend trading should remain relatively calm unless affected by major news events or market headlines.
Strategy, co-founded by Michael Saylor, now has over 13,000 institutions and 814,000 retail accounts exposed to its Bitcoin holdings. With the latest purchase of 3,459 BTC, Strategy’s total holdings have reached 531,644 BTC, worth over $44.9 billion.
The company’s strategy of using corporate debt and equity to acquire Bitcoin is attracting significant institutional interest, especially with its inclusion in the Nasdaq 100. This influx of institutional capital is expected to further strengthen Bitcoin's market position, with additional exposure through ETFs and mutual funds.
Robert Kiyosaki, author of Rich Dad, Poor Dad, predicts that Bitcoin will hit $1 million by 2035, driven by the ongoing devaluation of the US dollar. He emphasized that Bitcoin, along with gold and silver, serves as a hedge against inflation.
Kiyosaki also warned of an impending economic collapse, citing the rising US debt, credit card debt, and unemployment. His forecast aligns with the views of other Bitcoin advocates, including Jack Dorsey and Michaël van de Poppe, who believe Bitcoin’s price will surge in response to monetary policies and fiscal challenges.
Charles Schwab's CEO, Rick Wurster, has set his sights on launching spot Bitcoin (BTC) trading services for clients by April 2026. Citing a 400% increase in crypto-related website traffic, Schwab is optimistic about expanding into the digital asset market, hoping for favorable regulatory changes in the next year.
Since taking the helm in 2025, Wurster has expressed interest in providing direct crypto services but was awaiting a positive regulatory environment. Additionally, Schwab partnered with Trump Media and Technology Group (TMTG) in January 2025 to offer digital asset and ETF services through their "Truth.Fi" platform.
China’s local governments are reportedly selling seized cryptocurrencies through private companies to bolster public finances, despite the nation’s crypto trading ban. According to a Reuters report, around 15,000 Bitcoin, worth $1.4 billion, was held by local authorities at the end of 2023.
These sales raise concerns of corruption due to inconsistent regulations. Legal experts suggest the central bank could manage seized crypto assets, with some proposing the creation of a strategic crypto reserve. Amid rising crypto crimes, the sales have become a significant source of revenue for the country’s economic challenges.
Adoption News
The U.S. is exploring budget-neutral strategies to grow its Strategic Bitcoin Reserve, including redirecting tariff revenues and revaluing gold certificates still marked at $43/oz. The goal is to acquire BTC without raising taxes or selling gold, aligning with Trump’s Bitcoin-forward agenda.
Bo Hines confirmed all options are on the table, while Senator Lummis’ Bitcoin Act could free billions for BTC purchases. Officials say this move positions Bitcoin as a modern store of value and could make the U.S. a global crypto superpower, with some predicting a “seismic shock” if the U.S. announces major BTC acquisitions.
SPAR, one of Switzerland’s largest supermarket chains, has started accepting Bitcoin payments via the Lightning Network, beginning with a pilot store in Zug. This move marks a major milestone in retail crypto adoption across Europe. The integration allows for fast, low-cost BTC transactions at the point of sale, bringing Bitcoin closer to everyday consumer use.
Industry watchers see it as a sign of growing confidence in Bitcoin as a medium of exchange. If expanded nationally, SPAR’s adoption could pave the way for other European retailers to integrate Lightning-based crypto payments into their operations.
Project Eleven has introduced the Q-Day Prize, offering 1 BTC for anyone who can break a Bitcoin private key using quantum computing. The contest, running until April 2026, aims to test the vulnerability of Bitcoin’s elliptic curve cryptography (ECC) to quantum threats.
As quantum computing advances, over 10 million Bitcoin addresses are at risk, highlighting the need for quantum-resistant security. The challenge underscores the importance of preparing Bitcoin's infrastructure for future quantum capabilities, with experts divided on the urgency of addressing this emerging risk to the network's security.
The Bitcoin Policy Institute (BPI) suggests that if the US were to purchase 1 million BTC, the price could skyrocket to $1 million per Bitcoin. This discussion follows President Trump's executive order to establish a Strategic Bitcoin Reserve.
BPI's Matthew Pines emphasized that the US could use “budget-neutral” strategies, such as tariff earnings, to fund Bitcoin acquisitions without burdening taxpayers. This would position the US as a Bitcoin superpower, with other nations potentially mirroring this strategy. Additionally, the BITCOIN Act, reintroduced by Senator Lummis, aims to push US holdings beyond 1 million BTC.
Brazilian fintech firm Meliuz is planning to make Bitcoin its primary strategic treasury asset, pending shareholder approval on May 6. The company first bought 45 BTC in March using 10% of its cash reserves and aims to expand its Bitcoin holdings as part of its broader financial strategy.
This move has already sparked a significant 14% surge in Meliuz's stock price. The proposal seeks to generate more Bitcoin for shareholders through operational cash flow and other financial strategies, reflecting growing corporate interest in cryptocurrency as a treasury asset.
Mining News
Bitcoin miners are offloading large amounts of BTC to stay afloat as market conditions tighten. On April 7, miners sold 15,000 BTC—worth $1.12 billion—marking the third-largest daily outflow this year, according to CryptoQuant. Shrinking margins, driven by falling prices, low transaction fees, and record-high hash rates, have cut profitability from 53% in January to 33%.
Despite supportive signals from President Trump, including a national Bitcoin reserve, miners remain under pressure. Publicly traded mining firms lost $6 billion in market cap last month, signaling continued challenges in the post-peak mining environment.
CleanSpark is transitioning to a self-funding model by selling part of its mined Bitcoin monthly, marking a shift from its previous 100% hold approach. The company also secured a $200 million credit line from Coinbase Prime to bolster liquidity.
Amid plunging mining stock valuations and rising hardware costs due to new U.S. tariffs, this strategy aims to strengthen CleanSpark’s financial resilience. CEO Zach Bradford emphasized the move allows CleanSpark to fund operations and expansion without relying on equity dilution or debt, positioning the firm ahead of competitors facing tighter margins post-halving.
