Daily News | US Department of Justice Approves the Sale of Silk Road Case Bitcoin, AI Agent Sector Pulled Back Sharply
Crypto Daily Digest: BTC ETF outflow exceeded 400 million, US Department of Justice approved the sale of Silk Road case Bitcoin
According to Farside Investors data, yesterday the U.S. Bitcoin spot ETF had a large net outflow of $444 million, of which Fidelity FBTC had a net outflow of $258 million and Ark ARKB had an outflow of $148 million. BlackRock IBIT data has not been updated yet.
Yesterday, the Ethereum spot ETF had a net outflow of $159 million, of which Fidelity FETH had an outflow of $148 million and Grayscale ETHE had an outflow of $8.3 million. BlackRock ETHA data has not been updated yet.
US Justice Department got approval to sell $6.5 billion worth of Bitcoin tied to Silk Road case
The U.S. Department of Justice has received approval to liquidate 69,370 BTC (worth approximately $6.5 billion) seized in the Silk Road case, an official confirmed to DB News today.
The Justice Department is understood to have requested permission to sell the assets, citing bitcoin price volatility. When asked about the next move, a Justice Department spokesperson said: “The government will proceed with the next move based on the verdict in this case.”
Analyst: Rising global bond yields may prevent cryptocurrencies from rising further
Coindesk analyst James Van Straten said that the crypto market has been in a bull market since the end of 2024, but the trend of rising global government bond yields seems to have become impossible to ignore.
The yield on the 10-year U.S. Treasury note, considered a global benchmark, rose to 4.70% as of Wednesday, close to multi-year highs, and has risen more than 100 basis points since the Federal Reserve first cut the federal funds rate in September.
The yield on 30-year UK government bonds rose to 5.35% on Wednesday, the highest level since 1998. Since the Fed’s first rate cut in September, the yield has risen 105 basis points.
Grayscale updated the weights of its fund components quarterly, adding SUI, LPT, CRV, and others
According to the official announcement, Grayscale’s funds announced the latest fund component weights for each product.
LPT has been added to the fund components of the Grayscale Decentralized Artificial Intelligence Fund, which includes the following assets: NEAR, RENDER, TAO, FIL, GRT and LPT.
The fund components of Grayscale DeFi Fund (DEFG) have added CRV and removed SNX, and the composition includes the following assets: UNI, AAVE, LDO, MKR and CRV.
Grayscale Digital Large Cap Fund (GDLC) has added ADA to its fund composition and removed AVAX, and its composition includes the following assets: BTC, ETH, SOL, XRP and ADA.
SUI has been added to the fund components of the Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund), which includes the following assets: SOL, ADA, AVAX, SUI, NEAR, and DOT.
Market Trends: LLM surged more than 700 times in one day, and the AI Agent sector fell sharply
Market Hotspots
Trending AI Agent tokens such as VIRTUAL, AI16Z, AIXBT, and SWARMS have fallen sharply, and SWARMS has fallen by more than 50% within the day. The market believes that the AI Agent track is overheated, and this is the first collective correction of the leading tokens in the AI Agent sector. It is a healthy price correction. Waiting for the market to stabilize, AIXBT, SWARMS, and others are still worthy of priority purchase.
The on-chain meme coin LLM surged more than 700 times in one day, reaching a market value of $90 million yesterday, and has now fallen back to around $50 million. The image of LLM is a fat version of ai16z. Twitter KOL “him” called for LLM to compete with Fartcoin, and the price “him” bought was around $7 million.
Mainstream Coins
BTC fell sharply to around $92,500. According to market news, the U.S. Department of Justice was allowed to sell $6.5 billion worth of seized Bitcoin related to the Silk Road case;
ETH fell to around $3,200 this morning, still following the trend of BTC. ETH’s performance this round was significantly lower than BTC;
Altcoins generally fell sharply, the AI Agent sector fell sharply, and the market hot spots rotated very quickly. This round of Altcoins’ general rise seemed to lack the conditions for a reappearance.
Macro News: US stocks rose and fell, the probability of the Fed cutting interest rates in January is less than 5%
The three major U.S. stock indices rose and fell, with the S&P 500 up 0.16% to 5,918.25 points, the Dow Jones up 0.25% to 42,635.20 points, and the Nasdaq down 0.06% to 19,478.88 points. The benchmark 10-year Treasury yield was 4.67%, and the 2-year Treasury yield, which is most sensitive to the Fed’s policy rate, was 4.28%.
The Federal Reserve released the minutes of its December monetary policy meeting. The minutes showed that participants said that if the data performed as expected, it would be appropriate to continue to gradually move toward a more neutral policy stance; the Federal Reserve is at or close to a point where it is appropriate to slow down the pace of easing; many officials believe that caution is needed in the “next few quarters.”
Nick Timiraos, a journalist known as the “New Fed News Agency”, said that the Fed will not continue to cut interest rates for the time being. His article was directly titled “Fed minutes show officials will keep interest rates unchanged for the time being”. The Fed will announce its interest rate decision on January 30, Beijing time. According to the CME Fed Watch tool, the market currently expects that the probability of keeping interest rates unchanged is over 95%.
