![Malaysian Police Hunt 4 Suspects in Kidnapping Case Involving $1.2M Crypto Ransom](https://static.news.bitcoin.com/wp-content/uploads/2024/08/malaysian-flag.jpg)

Selangor police in **Malaysia** are actively pursuing four local suspects linked to the **July 11 kidnapping** of a Chinese national and a Malaysian woman near the **Lebuharaya Maju Toll Plaza** in **Cyberjaya**. According to Selangor Police Chief **Datuk Hussein Omar Khan**, three men and a woman remain at large, while **14 others** involved in the crime have either been apprehended or shot dead.

The group, which consisted of **18 individuals**, was involved in various roles including planning, executing the kidnapping, and collecting the ransom. The **financially motivated** kidnapping resulted in a ransom payment of **US$1.2 million (RM5.3 million)** in **cryptocurrency**. Police have since recovered **RM1.65 million** in cash, luxury vehicles, watches, and other valuables.

On **August 2**, police in Johor, Malaysia, shot four suspects and arrested another four. The victims were released on **July 15** after the ransom was paid by a relative.

Selangor police in Malaysia are pursuing four local suspects connected to the July 11 kidnapping of a Chinese national and a Malaysian woman.

Malaysian Police on the Trail of Kidnappers Who Demanded $1.2 Million in Crypto

Bitcoin (BTC) is currently **trading below $91,000**, showcasing a **bearish sentiment** that has led to extensive discussions regarding its future. Analysts are meticulously evaluating key market metrics to predict the next price movements of BTC.  

### Bitcoin Market Dynamics And Key Indicators  
Percival from CryptoQuant provides an insightful analysis of Bitcoin's market behavior, emphasizing its **seasonal trends** that have historically influenced price patterns. The last months of the year often witness increased selling pressure, a trend that continues into January.  

Despite these challenges, Bitcoin has exhibited **resilience**, maintaining a **$90,000 support level** even amid significant selling pressures. Notably, there has been a **13% decline in Open Interest**, primarily due to institutional activities on platforms like the **Chicago Mercantile Exchange (CME)**.  

![Bitcoin CME futures open interest.](https://s3.tradingview.com/news/image/newsbtc:6aae6d5a1094b-ddf302fa965435ce88dc29478291c615-resized.jpeg)  

Furthermore, Bitcoin **exchange-traded funds (ETFs)** have encountered a drop in monthly inflows, falling from **$14 billion to $6.6 billion**. This reduction signifies broader market sentiment while reflecting Bitcoin's ability to maintain critical support levels.  

On the sell side, December recorded considerable pressure, with **outflows reaching $200 million per day**. However, January has shown a more balanced market, with **sell-side risk indicators** indicating stability. The **Short-Term Holder Market Value to Realized Value (STH MVRV)** remains favorable, implying that short-term investors are not facing significant losses, which helps support Bitcoin’s **$90,000 floor**.  

### Demand Trends and Future Scenarios  
While selling pressures are easing, the **demand dynamics** are crucial for Bitcoin's outlook. Percival noted a slight slowdown in **on-chain volume**, though it remains robust at **$12 billion** in exchange inflows and outflows. This activity level shows that Bitcoin still garners strong market interest despite recent price declines.  

A potential risk exists in the gap between the **STH MVRV average of 1** and the short-term holder cost base of **$88,000**, which could create a “breathing space” for external market influences to affect Bitcoin's price. Nevertheless, the current balance between demand and sell-side risks signals a period of **consolidation** rather than a significant decline. Percival cautions:  

> The odds favor the **$90K floor**, but beware! There is a gap in the STH MVRV between **1.08 and 1** (STH cost base **$88**), which could allow for external scenarios to impact the price.  

![Bitcoin Short-Term Holder Market Value to Realized Value (STH MVRV)](https://s3.tradingview.com/news/image/newsbtc:6aae6d5a1094b-0a2725b4244a50a74cffa8e1039ffea4-resized.jpeg)  

*Featured image created with DALL-E, Chart from TradingView*

Bitcoin (BTC) has continued to exhibit bearish sentiment, currently trading below $91,000. This decline has sparked debates about its future trajectory, with analysts closely examining major market metrics to understand where BTC’s price action could likely be headed next.Among these, CryptoQuant c…

Is Bitcoin's $90K Support at Risk? Insights from Top Analysts

ChainCatcher news brings an intriguing insight from **Bitcoin Magazine** columnist **Nikolaus Hoffman**, who recently expressed his **optimism about the future market** on the X platform.

### Anticipated Actions by President Trump
Hoffman predicts several significant moves from President Trump that could impact the cryptocurrency landscape:

- **Release the founder of Silk Road, Rose**, from the dark web.
- **Create a strategic Bitcoin reserve** to stabilize and enhance the market.
- **Unprecedentedly drive Bitcoin soaring**, igniting a new wave of interest and investment.
- **Issue an executive order** on Bitcoin and cryptocurrency accounting on his first day in office.

As we navigate these potential developments, **ChainCatcher** reminds readers to approach blockchain with a **rational mindset**. It's crucial to enhance **risk awareness** and remain cautious of various **virtual token issuances and speculations**. Remember, all content provided is solely for informational purposes and does not constitute investment advice.

ChainCatcher news, Bitcoin Magazine columnist Nikolaus Hoffman posted on X platform expressing optimism about the future market.It is expected that President Trump will:Release the founder of Silk Road on the dark web, Rose;Create a strategic Bitcoin reserve;"Unprecedentedly drive Bitcoin soaring"Issue an executive order on Bitcoin and cryptocurrency accounting on the first day

What if Trump Releases the Silk Road Founder? A Bold Prediction for Bitcoin's Future

## Intesa Sanpaolo's Bold Move into Bitcoin

**Intesa Sanpaolo**, Italy's largest banking group, has made headlines by purchasing **11 Bitcoins** for approximately **1 million euros** (around **$1 million**). This significant investment marks **the first direct investment in cryptocurrency** by an Italian bank.

The confirmation of this purchase came from the bank’s press office, following **speculation** sparked by a leaked internal email on the online forum **4chan**. The email, signed by **Niccolò Bardoscia**, head of the bank’s **Trading and Investment division for Digital Assets**, detailed the acquisition, as reported by **Criptovaluta**, an Italian crypto news outlet.

Despite the confirmation of the purchase, Intesa Sanpaolo has chosen not to elaborate on its **motivations** or potential **future strategies** regarding Bitcoin.

## A Milestone for Italian Crypto

This acquisition is a notable milestone for the **crypto sector in Italy**, positioning Intesa Sanpaolo as a leader in the **adoption of digital assets** within the traditional financial landscape of the country. It also aligns with a growing trend of increasing institutional interest in Bitcoin on a global scale.

In recent months, other major players like **MicroStrategy** and **Metaplanet** have also been aggressively accumulating Bitcoin, indicating a **bullish sentiment** towards the cryptocurrency.

## Regulatory Context and Future Implications

While the motivations behind Intesa Sanpaolo's investment remain unclear, this move could signal intentions to **expand into crypto services** or could simply be an exploratory investment. This investment comes amidst increasing **regulatory clarity** around digital assets in Europe, which may encourage traditional financial institutions to experiment with **blockchain technology**.

In July 2024, Intesa Sanpaolo underwrote Italy’s first **blockchain-based €25 million digital bond** and has expanded its trading division to include **cryptocurrency spot trading**. This proactive approach suggests that the bank is keenly observing developments in the cryptocurrency sector and may be positioning itself for future opportunities.

![Intesa Sanpaolo Bitcoin](https://example.com/image.jpg)  
*Image Credit: Intesa Sanpaolo*

While the purchase was confirmed, the banking group declined to elaborate on its motivations or potential future strategies involving Bitcoin

Intesa Sanpaolo Makes History with $1 Million Bitcoin Purchase - What It Means for Italy's Crypto Landscape

## SEC Faces Judicial Fallout as Chair Gensler’s Term Ends
The **SEC v Coinbase** case took an unwelcome turn for the SEC, with the **Third Circuit Court** ruling in Coinbase’s favor. Coinbase Chief Legal Officer **Paul Grewal** stated,  
> “We just won our petition for a writ of mandamus at the Third Circuit. The Court held that the SEC’s order was conclusory and insufficiently reasoned.”  
Judge Bibas remarked on the SEC’s enforcement tactics, emphasizing that they risk banning an entire industry.  
Ripple’s Chief Legal Officer **Stuart Alderoty** celebrated the ruling, indicating that Gensler’s anti-crypto agenda is faltering.  
> “Huge congratulations to Paul Grewal and Coinbase for their win today. His selective enforcement of securities laws was a covert attempt to ban the industry outright.”  
This ruling may pressure the SEC to reconsider its appeal in the **Ripple case**.

## XRP Price Trends: Legal Battle Drives Sentiment
On **January 13**, XRP rose by **0.80%**, closing at **$2.5245**. XRP’s price trajectory is heavily influenced by the Ripple case, with potential declines if the SEC files its opening brief. Conversely, if the SEC withdraws its appeal, XRP could surpass its **2018 record high of $3.5505**.

![XRPUSD Daily Chart](attachment_1489875)
Explore our expert analysis on the SEC’s next move and its implications for XRP’s future.

## Bitcoin Dips Below $90K, Rebounds on Policy Rumors
Meanwhile, **Bitcoin (BTC)** faced volatility on January 13, dipping below **$90k** for the first time since November. The decline was brief, as buyers supported a rebound amid **speculation** of pro-crypto executive orders from the **Trump administration**.  
BTC recovered losses as rumors circulated about Trump's potential reversal of Biden’s veto on the SEC’s **SAB 121 regulation**.  
**Bitwise**, a BTC-spot ETF issuer, highlighted US demand potential, indicating substantial room for growth among financial advisors.

## Bitcoin Price Outlook
On January 13, BTC dipped by **0.10%**, closing at **$94,493**. BTC’s price trends are influenced by US economic data, BTC-spot ETF market flows, and developments related to the **Strategic Bitcoin Reserve (SBR)**.  
Hotter-than-expected US inflation numbers could impact sentiment negatively, while progress toward a US SBR may support new highs. BTC could break below the **$90,742 support level** if bipartisan resistance arises against the SBR.

XRP Price Hinges on SEC’s Appeal Decision as Leadership Changes Drive Speculation on Digital Asset Regulation.

The Ripple Effect: How SEC Decisions and Bitcoin Speculation Shape the Crypto Landscape

Despite Bitcoin's recent **drop below $100,000**, its strongest supporters remain optimistic about its long-term potential, speculating on a future where Bitcoin could reach **$5 million per coin**.  

### Price Speculations and Expert Insights  
Rob Nelson, a roundtable anchor, and David Bailey, CEO of BTC Inc., shared their thoughts on Bitcoin's **price volatility** and potential future value. They discussed predictions ranging from **hundreds of thousands of dollars** to the remarkable possibility of **$5 million** in the coming years.  

Nelson noted the expected price fluctuations, saying, "I told people it'll dip; it might drop to the low $90s, that wouldn't be shocking... I think that's a pretty reasonable range over the course of a week."  

Bailey supported this view, stating, "**Volatility is vitality**. Bitcoin is arguably the most valuable asset in the world... It should go up a hundred times in value." He recalled previous cycles where **50% swings** in a single day were common.  

### The $5 Million Question  
As the conversation progressed, Nelson provocatively asked whether Bitcoin could indeed reach **$5 million** by the end of next year. Bailey remained optimistic, predicting that by year-end, Bitcoin prices could reach several hundred thousand dollars. He suggested that **political and economic factors** would play a crucial role in this trajectory.  

Bailey also pointed out that if Trump initiates an **executive order for a strategic bitcoin reserve**, we might see **$1 million Bitcoin prices** by the end of his administration. While he acknowledged that **$5 million isn't unrealistic**, he cautioned that liquidity issues from significant asset holders could temper rapid growth.  

### Michael Saylor's Influence  
Bailey referenced Michael Saylor's outlook, noting that Saylor believes Bitcoin could reach **$13 million by 2045**. Central bank adoption could further accelerate these projections.  

Bailey concluded with a bullish perspective: "I'm **bullish on Bitcoin**— short-term, mid-term, and long-term, it’s a good time to buy." As Bitcoin continues to evolve, its advocates remain unwavering in their belief in its **transformative potential**, regardless of its **unpredictable nature**.  

Additionally, Michael Saylor announced that MicroStrategy has acquired another **$243 million in Bitcoin**, adding to its already substantial holdings of **450,000 coins**.

Questions arise on whether political interventions and reserves catapult this digital currency toward higher valuations.

Could Bitcoin Really Reach $5 Million? Long-Term Believers Weigh In

The U.S. Court of Appeals for the Federal Circuit (**CAFC**) issued a **precedential decision** on January 13, denying a **state law conversion claim** brought by BearBox LLC owner **Austin Storms**. The court ruled that the claim was preempted by **federal patent law** and rejected Storms' request to be recognized as a sole or joint inventor of a patent owned by **Lancium LLC**.

![conversion claim](https://ipwatchdog.com/wp-content/uploads/2019/08/Depositphotos_86267474_xl-2015-e1689365366933.jpg)

The patent in question, **U.S. Patent No. 10,608,433**, is titled “Methods and Systems for Adjusting Power Consumption Based on a Fixed-duration Power Option Agreement” and is associated with power management solutions for data centers, including those used for **Bitcoin mining**. Storms, who founded BearBox to design mobile cryptocurrency datacenters, initially met Lancium co-founder **Michael McNamara** at the **FCAT Mining Summit**.

During their interactions, Storms shared information about BearBox but did not meet McNamara again. Following the issuance of the '433 patent, BearBox filed a lawsuit in Louisiana, claiming that Storms should be acknowledged as an inventor and alleging conversion under state law. However, the district court sided with Lancium, stating that the conversion claim was essentially a **patent infringement** claim, thus preempted by federal law. The CAFC supported this view, indicating that BearBox's claims sought **monetary damages akin to patent royalties**, which are not permissible under state law.

The CAFC further explained that BearBox’s technology was not patented and was publicly available, meaning it could not claim protection under federal law. The court noted that allowing the conversion claim to proceed would permit BearBox to recover lost profits or reasonable royalties, which is not allowed for unprotected ideas.

On the matter of inventorship, the CAFC upheld the district court's findings after a three-day bench trial, confirming that Storms did not provide any substantial evidence proving he contributed to the conception of the invention prior to Lancium’s development of the technology. BearBox's arguments regarding hearsay testimony were dismissed as the CAFC found no prejudicial error in the district court's decisions. Additionally, BearBox's late-filed expert report was also struck down as untimely.

The CAFC ultimately affirmed the district court’s ruling in full, marking a significant decision in the intersection of **patent law** and **cryptocurrency** technology.

The U.S. Court of Appeals for the Federal Circuit (CAFC) on Monday, January 13, issued a precedential decision denying a state law conversion claim as being preempted by patent law and rejecting BearBox LLC owner Austin Storms’ bid to be named a sole or joint inventor on Lancium LLC’s patent.

CAFC Ruling: Bitcoin Miner’s Patent Claim Denied in Landmark Decision

### Cliff Asness on Bitcoin's Speculative Nature

Cliff Asness, co-founder of **AQR Capital Management**, recently voiced his concerns regarding Bitcoin, suggesting that it may be in a **speculative bubble**. His comments came in light of the cryptocurrency's remarkable rise, surpassing **$100,000** following the recent presidential election.

In an interview on **CNBC's 'Money Movers'**, Asness expressed a bearish view, leaning towards the idea of a bubble. He noted that merely changing the price would not alter his stance; rather, he would need to see a **practical use case** for Bitcoin to reconsider his investment approach.

### Identified Uses for Cryptocurrency

Asness identified three main uses for cryptocurrencies:
- **Speculation**
- Utility in **conflict-ridden nations**
- Paying **cyber ransoms**

Despite acknowledging the existence of a **price trend**, Asness admitted the difficulty in pinpointing a fundamental trend for cryptocurrencies due to the ambiguity surrounding their fundamentals. He believes that many trend followers are likely **long** on Bitcoin.

### Risks of Shorting Bitcoin

While Asness holds a skeptical view of cryptocurrencies, he refrained from betting against them. He highlighted the **high volatility** of Bitcoin, cautioning that shorting assets with an annual volatility of **100%** poses substantial risks, as many investors have learned from past concentrated shorts affecting their portfolios.

### Market Context

The discussion comes on the heels of a **120% rally** in 2024, largely fueled by optimism surrounding the election of **President-elect Donald Trump**. Investors are hopeful that his presidency will usher in a favorable environment for cryptocurrencies, including potential **industry deregulation** and the establishment of a **national strategic bitcoin reserve**.

Cliff Asness says Bitcoin is a speculative bubble

Malaysian Police on the Trail of Kidnappers Who Demanded $1.2 Million in Crypto

Summary:

Comments

Subscribe our Newsletter

BitcoinToday.app

Other Latest News

Is Bitcoin's $90K Support at Risk? Insights from Top Analysts

What if Trump Releases the Silk Road Founder? A Bold Prediction for Bitcoin's Future

Intesa Sanpaolo Makes History with $1 Million Bitcoin Purchase - What It Means for Italy's Crypto Landscape

The Ripple Effect: How SEC Decisions and Bitcoin Speculation Shape the Crypto Landscape

Could Bitcoin Really Reach $5 Million? Long-Term Believers Weigh In

CAFC Ruling: Bitcoin Miner’s Patent Claim Denied in Landmark Decision

Cliff Asness Warns: Is Bitcoin Just a Speculative Bubble?

Other Latest News

Is Bitcoin's $90K Support at Risk? Insights from Top Analysts

What if Trump Releases the Silk Road Founder? A Bold Prediction for Bitcoin's Future

Intesa Sanpaolo Makes History with $1 Million Bitcoin Purchase - What It Means for Italy's Crypto Landscape

The Ripple Effect: How SEC Decisions and Bitcoin Speculation Shape the Crypto Landscape

Could Bitcoin Really Reach $5 Million? Long-Term Believers Weigh In

CAFC Ruling: Bitcoin Miner’s Patent Claim Denied in Landmark Decision

Cliff Asness Warns: Is Bitcoin Just a Speculative Bubble?