In a significant move for cryptocurrency enthusiasts, an **Oklahoma Senator** has introduced the **Bitcoin Freedom Act**. This legislation aims to promote the use of **Bitcoin** and safeguard the rights of individuals to utilize digital currencies without excessive government interference. The act emphasizes the importance of **financial freedom** in the digital age, allowing citizens to engage in **peer-to-peer transactions** and invest in cryptocurrencies without burdensome regulations.

### Key Features of the Bitcoin Freedom Act
- **Protection of Digital Assets**: The act seeks to protect individuals' rights to own and transact in Bitcoin and other cryptocurrencies.
- **Reduction of Regulatory Barriers**: It aims to minimize unnecessary regulations that hinder the growth of the cryptocurrency market.
- **Support for Innovation**: The legislation encourages innovation in the **blockchain** space, fostering an environment conducive to technological advancements.

This initiative reflects a growing trend among lawmakers to embrace **cryptocurrencies** and recognize their potential to enhance economic opportunities. As more states consider similar measures, the future of **Bitcoin** and other cryptocurrencies looks promising in the political arena.

Oklahoma Senator Proposes Groundbreaking Bitcoin Freedom Act

### BTC, ADA Price News: Bitcoin Slumps Further as Traders Await Friday Data

On **January 9, 2025**, Cardano’s **ADA** led the **losses** among major cryptocurrencies as **bitcoin** continued its downward trend, stalling any potential rally for altcoins. Bitcoin (BTC) fell to nearly **$93,000** on Wednesday, driven by recent economic data that caused **U.S. treasury yields** to surge, leading to declines in **equities**. The latest **Institute for Supply Management (ISM)** report revealed stronger-than-expected performance from U.S. service providers, pushing the prices-paid measure to its highest since early 2023.

This downturn affected other major tokens, with **ADA**, **SOL**, **BNB**, and **ETH** all down nearly **10%** since Monday. The **CoinDesk 20 (CD20)** index tracking large tokens saw a decrease of **2.87%** in just the last 24 hours, following a **7% plunge** on Wednesday.

In the broader market, options on the **S&P 500** now indicate greater downside risks compared to a year ago, which may further suppress the chances of recovery for risk assets like bitcoin, as traders gravitate towards safer investments such as **bonds**.

Concerns surrounding President-elect **Donald Trump's** inauguration on **January 20** could trigger a **“sell-the-news”** event, according to **CoinDesk’s Omkar Godbole**. However, risk-taking has increased over the past two months with expectations of pro-business reforms under Trump's presidency, leading to potential profit-taking.

Trump's inauguration is anticipated to influence **crypto regulations** and may introduce a strategic bitcoin reserve in the following months, setting the stage for a potential rally. **QCP Capital** in Singapore urges traders to keep an eye on upcoming U.S. economic data for further positioning.

They stated, “All eyes are on this week's **FOMC** and **NFP** releases, which are expected to influence Bitcoin's price trajectory. We believe Bitcoin's pullback is merely a pause, setting the stage for a **bullish rally** as Trump's inauguration fuels optimism.”

The **NFP** report, which reflects job creation in the U.S. excluding farm jobs, serves as an indicator of economic health. Strong NFP numbers could signal potential **interest rate hikes**, which are typically detrimental to risk assets like bitcoin, while weak figures suggest lower rates, benefiting such assets.

BTC, ADA Price News: Bitcoin Slumps Further as Traders Await Friday Data

Cardano's ADA Plummets 8% as Bitcoin Traders Look to Trump's Upcoming Inauguration

## Bitcoin and Crypto Prices Take a Dive

Bitcoin and cryptocurrency prices have experienced a **significant decline**, closely following the downward trend in stock markets. This downturn has been **exacerbated** by Tesla billionaire **Elon Musk's** unexpected warning regarding Bitcoin's price.

Earlier this week, Bitcoin reached a peak of **$100,000**, only to plummet to around **$92,000**. This drop comes despite a **massive investment** from a Wall Street bank, which had raised hopes for Bitcoin's future. Now, as the crypto market braces for an **upcoming announcement** from Musk, legendary investor **Arthur Hayes** has forecasted a **market crash** in late March.

## Predictions from Arthur Hayes

Arthur Hayes, co-founder of the crypto derivatives platform **BitMex**, has written in his blog that it may be time to sell Bitcoin during the late stages of the first quarter and to wait for better liquidity conditions in the third quarter. He believes that Bitcoin's price movements are intricately linked to changes in **dollar liquidity**. As the Treasury's account nears depletion and the U.S. approaches the **debt ceiling**, he expects further downward pressure on prices.

## Market Reactions

Traders are currently **reassessing** the 2025 outlook for Federal Reserve interest rate cuts, driven by strong U.S. economic data. The sentiment in the market has shifted, and many now view Bitcoin as a **high-risk asset** again, especially considering the possibility of prolonged elevated interest rates.

Petr Kozyakov, CEO of **Mercuryo**, commented on the situation, noting that the anticipated market corrections have arrived sooner than expected. This shift indicates a return to cautious trading as enthusiasm about Bitcoin's potential as a strategic reserve fades.

![Bitcoin Price Dynamics](https://specials-images.forbesimg.com/imageserve/633c2741f081733a2a78b209/Federal-Reserve--Jerome-Powell--bitcoin--bitcoin-price--crypto--bitcoin-crash--crypto/960x0.jpg?fit=scale)

**Federal Reserve chair Jerome Powell is predicted to help support the bitcoin price until the end of the first quarter of 2025.**

With the crypto market's volatility and the looming economic pressures, investors are urged to stay vigilant and prepared for potential price fluctuations ahead. 


Legendary bitcoin and crypto investor Arthur Hayes has predicted when the bitcoin price and crypto market will crash...

Is It Time to Panic? Arthur Hayes Predicts Bitcoin Price Crash Ahead!

![Bitcoin’s short-term holders offload $2.4 billion amid price drop below $95,000](https://cryptoslate.com/wp-content/uploads/2025/01/bitcoin-sth.jpg)

Bitcoin's price experienced a **sharp decline**, dropping below **$95,000 on January 8**. This downturn wiped out the gains made earlier in the week when Bitcoin briefly surpassed **$100,000**.

Data from **CryptoQuant** indicates that **short-term holders (STHs)**—defined as investors holding Bitcoin for less than **155 days**—were significant contributors to this sell-off. Over **26,000 BTC**, valued at more than **$2.4 billion**, were moved to exchanges at a loss.

![Bitcoin Short-Term Holders Exchange Transfers](https://cryptoslate.com/wp-content/uploads/2025/01/BTC-Short-Term-Holder-PL-to-Exchanges-Sum-24H.png)
*Source: CryptoQuant*

Further analysis from **Alphractal** revealed that this wave of selling pressure aligns with a broader decline in **accumulation trends** among short-term holders. The **“Accumulation vs. Distribution of STH”** metric indicates a growing preference among STHs for liquidating rather than accumulating their Bitcoin holdings.

![Bitcoin Short-Term Holders Accumulation vs Distribution](https://cryptoslate.com/wp-content/uploads/2025/01/Ggtc4JCWcAA87Md-scaled.jpg)
*Source: Alphractal*

Notably, STH accumulation has been in a **steady decline since December 5**. This diminishing demand from short-term holders is closely linked to Bitcoin’s recent **price volatility**, highlighting the impactful role these investors have on market trends.

![Bitcoin Short-Term Holders Accumulation](https://cryptoslate.com/wp-content/uploads/2025/01/Ggtc4y6W4AEgop1-scaled.jpg)
*Source: Alphractal*

Bitcoin's market hit by short-term holders liquidating $2.4 billion in price decline under $95,000 mark.

Massive Sell-Off: Short-Term Bitcoin Holders Liquidate $2.4 Billion Amid Price Plunge

### The US authorities may soon liquidate the seized BTC to prevent loss amid market volatility concerns.

The **US Department of Justice (DOJ)** has been authorized to sell approximately **69,370 Bitcoin** seized from the infamous **Silk Road** darknet marketplace, valued at around **$6.5 billion**. This decision marks the end of a lengthy legal dispute regarding the ownership of these assets.

#### Key Takeaways
- The **DOJ** received approval to liquidate the seized Bitcoin despite opposition from **Battle Born Investments**, which attempted to block the sale.
- A federal judge ruled in favor of the DOJ's request to liquidate the assets, emphasizing Bitcoin's **price volatility** as a reason for a swift sale.

On December 30, a federal judge confirmed the DOJ’s request to proceed with the sale. **Battle Born Investments**, which claimed ownership through a bankruptcy estate, sought to delay the sale and pursued a **Freedom of Information Act (FOIA)** request to uncover the identity of “Individual X,” who surrendered the Bitcoin, but was unsuccessful.

**Battle Born's** legal team criticized the DOJ, alleging that the department used **“procedural trickery”** in its handling of the case. Despite these claims, the DOJ will move forward in accordance with the court's ruling.

In a related update, the **US Supreme Court** declined to hear an appeal from Battle Born, clearing the way for the sale. The **US Marshals Service** is expected to oversee the liquidation process, which could become one of the largest sales of seized cryptocurrency in history.

Recent news about the sale briefly affected the market, causing Bitcoin's price to drop from approximately **$95,000 to $93,800**, with current trading around **$94,300**, reflecting a nearly **3% decline** in the last 24 hours. As of now, the DOJ has yet to release an official statement regarding the sale, and this situation remains **developing**.

DOJ receives court approval to proceed with the $6.5B Silk Road Bitcoin sale despite ownership objections and volatility concerns.

US Government Gets Green Light to Liquidate $6.5 Billion in Seized Silk Road Bitcoin

## Exploring a Controversial Energy Source

A **cryptocurrency mining facility** in North Tonawanda is considering the use of **mini nuclear reactors** to power its operations instead of relying on natural gas by **2031**.

While city officials are investigating the feasibility and potential restrictions of this plan, many residents have voiced their **concerns**. The idea emerged in December through a **memorandum of understanding** between **Digihost** and **Nano Nuclear Energy**, who are seeking guidance from **NYSERDA** (New York State Energy Research and Development Agency) for their proposal.

## Community Concerns

The facility is located on an industrial-zoned plot but is close to residential neighborhoods already troubled by noise issues from the plant. **Mayor Austin Tylec** acknowledged the community's worries and stated, "I have reached out to them to understand the technology, which is still in development."

**Deborah Gondek**, Chair of the **Climate Smart Task Force**, raised critical questions about the management of **nuclear waste** and the potential for environmental disasters impacting local waterways. She noted a growing trend among **Bitcoin mining companies** nationwide to seek more environmentally friendly energy sources.

## Proposed Moratorium

Mayor Tylec is planning a meeting with residents to discuss the possibility of implementing **zoning restrictions** and a potential moratorium on expanding Bitcoin mining operations in the area. He mentioned, "There will be a proposed moratorium that pauses any new energy systems in the city."

## Skepticism Over Promises

Gondek expressed skepticism regarding Digihost's intentions, recalling a past promise by the company to eliminate noise from their facility, which has not been fulfilled. **Michel Amar**, CEO of Digihost, emphasized that collaborating with Nano Nuclear represents a significant step toward achieving sustainability goals and expanding their operations efficiently.

**Jay Yu**, CEO of Nano Nuclear Energy, stated their goal is to provide **cost-effective alternatives** to traditional energy sources, paving the way for sustainable energy solutions in New York State. 

As of now, the community awaits further clarification from **NYSERDA** regarding their guidance on this nuclear power initiative.

The operators of the somewhat controversial cryptocurrency mining facility in North Tonawanda are now exploring the idea of using mini nuclear reactors to power it.

North Tonawanda's Bold Move: Could Mini Nuclear Reactors Power Bitcoin Mining?

Governments worldwide are expected to **overcome years of reticence** about buying **Bitcoin** and start investing in the cryptocurrency by **2025**, according to a new **report by Fidelity**. This marks a significant shift in how most countries manage their financial reserves. 

Since Bitcoin's inception 16 years ago, many nations have avoided creating **Bitcoin reserves** alongside their traditional stockpiles of foreign currency and gold due to perceived risks and regulatory uncertainties. However, if large nations establish national Bitcoin reserves, it would help solidify the asset as a legitimate **store of value** and likely trigger a **surge in its price**.

Fidelity anticipates that countries will begin purchasing Bitcoin for their treasuries and central banks as a hedge against **financial instability**, similar to gold reserves. The report arrives as Bitcoin recently surpassed **$100,000** and with pro-crypto President-elect **Donald Trump** preparing to take office.

**Matt Hogan**, a research analyst at Fidelity, warned that countries may fall behind if they do not invest in Bitcoin, especially amid macroeconomic challenges such as **inflation** and **currency devaluation**. He suggested that failing to invest in Bitcoin could become a greater risk for nations than making the investment itself.

While some governments, including the **United States** and **China**, hold Bitcoin—often acquired through law enforcement—**El Salvador** stands out as a pioneer, being the first country to adopt Bitcoin as a **reserve asset**. El Salvador has accumulated nearly **6,000 Bitcoin**, valued at over **$550 million**.

Fidelity has been at the forefront of the traditional finance sector embracing Bitcoin, launching a **spot Bitcoin ETF** last January. Many institutional investors are now considering Bitcoin as part of a diversified investment strategy.

In the U.S., Trump has endorsed the **BITCOIN Act**, which proposes that the U.S. Treasury purchase **one million Bitcoin** over five years, costing approximately **$94 billion** at current market prices. Hogan believes that if this bill passes, it will compel other nations to follow suit.

Countries like **Russia**, **Brazil**, and **Poland** are already advocating for Bitcoin investments. However, if governments start buying Bitcoin, they might do so covertly to avoid inflating the price before their purchases.

Fidelity remains optimistic, noting that digital assets have evolved from a fringe community to a significant topic of political discussion due to their potential to **disrupt the traditional financial system**.

In addition to the United States, Brazil and Russia are considering creating Bitcoin reserves.

Fidelity's Bold Prediction: Countries Will Embrace Bitcoin Reserves by 2025!

### Bernie Moreno's Victory and Its Implications for Cryptocurrency  
**Washington, D.C.** — Bernie Moreno’s recent win in the Ohio Senate race marks a significant milestone for the **cryptocurrency industry**, which invested over **$40 million** to support his campaign. Now that he is in office, Moreno has expressed his intention to back new legislation aimed at regulating the industry more effectively.

### Key Points to Note  
- **Support for New Legislation**: Moreno has committed to advocating for legislation that the cryptocurrency sector has been seeking, which would establish clearer regulatory guidelines.  
- **Financial Backing from Crypto Industry**: The crypto industry played a crucial role in fueling Moreno's success in the Senate race, with substantial contributions from **Super PAC Defend American Jobs**, linked to major crypto players like **Coinbase** and **Ripple**.  
- **Contrast with Predecessor**: Moreno's pro-crypto stance sharply contrasts with that of former Senator **Sherrod Brown**, who previously blocked efforts to loosen regulations on crypto assets.

### Moreno's Background in Blockchain  
Moreno is no stranger to the **blockchain** technology that underpins cryptocurrency. His previous venture, **Champ Titles**, was a pioneer in using blockchain for digital car titling.

### Legislative Challenges Ahead  
As the new Congress convenes, there will be a need to reintroduce and pass cryptocurrency regulation bills like the **Financial Innovation and Technology for the 21st Century Act (FIT 21)**, which seeks to classify many cryptocurrencies as **commodities** rather than securities—thus enabling a more relaxed regulatory environment.  

Moreno, who now serves on various Senate committees including **Banking**, **Homeland Security**, and **Commerce**, believes that the cryptocurrency sector deserves **fair treatment** and **transparent regulations**. He emphasizes that the industry is not looking for deregulation but rather for a **consistent regulatory framework** that ensures fairness across the board.

### Future Outlook  
With the **Republicans** now in control of the House, there is optimism that similar legislation could advance more swiftly in the current Congress, given the bipartisan support it previously enjoyed.


Moreno said he would support legislation the industry is seeking that would govern how it is regulated.

Oklahoma Senator Proposes Groundbreaking Bitcoin Freedom Act

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Key Features of the Bitcoin Freedom Act

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Other Latest News

Cardano's ADA Plummets 8% as Bitcoin Traders Look to Trump's Upcoming Inauguration

Is It Time to Panic? Arthur Hayes Predicts Bitcoin Price Crash Ahead!

Massive Sell-Off: Short-Term Bitcoin Holders Liquidate $2.4 Billion Amid Price Plunge

US Government Gets Green Light to Liquidate $6.5 Billion in Seized Silk Road Bitcoin

North Tonawanda's Bold Move: Could Mini Nuclear Reactors Power Bitcoin Mining?

Fidelity's Bold Prediction: Countries Will Embrace Bitcoin Reserves by 2025!

Bernie Moreno Champions Cryptocurrency: A New Era of Regulation?

Other Latest News

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US Government Gets Green Light to Liquidate $6.5 Billion in Seized Silk Road Bitcoin

North Tonawanda's Bold Move: Could Mini Nuclear Reactors Power Bitcoin Mining?

Fidelity's Bold Prediction: Countries Will Embrace Bitcoin Reserves by 2025!

Bernie Moreno Champions Cryptocurrency: A New Era of Regulation?