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Ross Ulbricht Thanks Trump for "Amazing Blessing" of Full Pardon

Silk Road founder Ross Ulbricht expresses deep gratitude to Donald Trump for granting him a full pardon, marking his release after 11 years in prison.

• Main Points:

  • Ross Ulbricht served over 11 years of a double life sentence without parole for founding Silk Road.

  • Donald Trump granted him a full pardon on Jan. 23, 2025.

  • Ulbricht shared his gratitude publicly for the first time since his release.

• Detailed Insights:

  • Pardon Announcement: Ulbricht thanked Trump in a video on X, calling the pardon an "amazing blessing."

  • Life Without Parole: He had been held in a maximum-security prison in Arizona for over a decade.

  • Gratitude Expressed: Ulbricht emphasized his relief and excitement to have his "life and future back."

  • Family Impact: He highlighted the significance of this moment for his family, acknowledging the second chance he’s been given.

Related: Bitcoin Bull Market at Risk? Indicators Hint at Possible Cycle Top

Ulbricht’s release marks a pivotal moment, reigniting discussions about clemency and justice reform in high-profile cases.

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BlackRock’s Bitcoin ETF Update: A Game-Changer for Institutional Adoption?

BlackRock seeks SEC approval to modify its iShares Bitcoin Trust to include in-kind redemptions, streamlining the process for institutional investors. This move could bolster institutional Bitcoin adoption while reshaping ETF operations.

• Main Points:

  • Proposed Change: BlackRock files with the SEC to allow in-kind redemptions for its Bitcoin ETF.

  • Institutional Impact: Enables authorized participants to redeem ETF shares directly in Bitcoin.

  • Advantages: Reduces inefficiencies, avoids bid spreads, and minimizes broker commissions.

  • Retail Exclusion: Retail investors remain limited to cash redemption models.

  • Market Significance: BlackRock’s Bitcoin holdings now account for 2.7% of total supply, emphasizing its dominance.

• Detailed Insights:

  • In-Kind Redemption Model: Proposed changes aim to simplify the ETF process by letting authorized participants trade shares directly in Bitcoin, avoiding traditional market maker constraints.

  • Bloomberg Analyst Commentary: James Seyffart highlights the efficiency of the in-kind model and critiques past regulatory hesitations to approve similar structures.

  • Retail Investor Limitations: The in-kind model is reserved for institutional participants, maintaining cash redemptions for retail investors.

  • BlackRock’s Influence: With $60 billion in Bitcoin holdings, BlackRock has overtaken MicroStrategy as the largest institutional holder, indicating strong market leadership.

  • Market Forecasts: CEO Larry Fink’s speculation of a $700,000 BTC price target underscores growing institutional interest, amplified by Trump’s pro-crypto policies.

Related: Bitcoin Bull Run Hinges on $98K Support Amid $3K Dip

BlackRock’s continued innovations in the Bitcoin ETF space signal growing maturity in the market and could set a precedent for broader institutional adoption.

Bitcoin Bear Market Timeline: Expert Predicts Key Dates

Historical halving trends hint at a potential Bitcoin market top between May and October 2025. Analysts emphasize regulatory changes and critical support levels in shaping BTC’s trajectory.

• Main Points:

  • Historical Halving Patterns: Previous Bitcoin halvings have led to market tops 367 to 547 days later.

  • Predicted Bear Market: A market top, and subsequent bear market, could emerge between May and October 2025, based on historical data.

  • Regulatory Boost: Favorable crypto policies under President Trump include SEC reforms and a ban on central bank digital currencies (CBDCs).

  • Critical Support Level: Maintaining the $97,877 level is pivotal for continued bullish momentum.

• Detailed Insights:

  • Historical Halving Cycles: Bitcoin’s 2012, 2016, and 2020 halvings led to market tops 367, 526, and 547 days later, respectively.

  • Predicted Timeline: Analyst Ali Martinez suggests a top is 100-270 days away (May-October 2025).

  • Price Projections: Targets include $170,000 by March 2025, with critical resistance at $110,000.

  • Regulatory Shifts: Trump’s administration promotes a strategic Bitcoin reserve and crypto-friendly SEC reforms.

  • Accumulation Zone: Over 101,000 BTC were purchased around $97,877, making it a crucial support.

  • Market Sentiment: A drop below $100,000 could trigger selling pressure, disrupting bullish trends.

Related: Ripple’s Political Wins Shape Crypto’s Future

Bitcoin remains stable above $100,000, but key levels and regulatory shifts will determine the next phase of its cycle.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results