AVAX One, the digital asset treasury firm advised by SkyBridge Capital founder Anthony Scaramucci, saw its shares tumble more than 32% after it registered nearly 74 million shares held by insiders as available for sale.
The company, which holds AVAX tokens and related Avalanche ecosystem assets, made the disclosure late on Tuesday. While the filing did not specify when, or even whether, the shares would be sold, registering them with the SEC paves the way for resale on the public market.
The steep market reaction highlights investor concerns about dilution. By registering shares for resale, companies often signal that a block of previously restricted stock may soon hit the open market. That can push prices down, especially in illiquid or thinly traded stocks.
AVAX One had recently announced a plan to buy back up to $40 million of its own shares — a move aimed at boosting shares should the net asset value of its holdings fall below the company’s market cap.
Buybacks have become an increasingly common tool among crypto-native public firms. AVAX One’s strategy mirrors that of other digital asset treasuries like BitMine and KindlyMD, which have faced similar pressures as their stock prices lag far behind the net asset values of their token holdings.
Nationwide Building Society, the world’s largest building society, has selected data and payments platform Moneyhub as its data enrichment and categorisation partner.
The partnership will see Moneyhub’s AI-driven technology deployed to create new spending insights for all of Nationwide’s 16 million customers across the UK.
Unlocking granular data
Sri Kanisapakkam, chief data and analytics officer at Nationwide
Under the agreement, Moneyhub’s “Categorisation and Enrichment” engine will analyse every transaction made by Nationwide members, from standard card payments to direct debits. The aim is to transform raw transaction data into granular, understandable insights.
For customers, this means access to far richer transaction details than standard bank statements typically provide. Features will include clear merchant identification—such as website URLs and specific store contact details—alongside location data pinpointing exactly where a payment was made.
Sri Kanisapakkam, chief data and analytics officer at Nationwide, commented on the strategic value of the collaboration: “At Nationwide our tech teams work to deliver fairer, more rewarding and more convenient banking, so selecting the right partners is crucial, to make sure we’re giving our customers the best experience possible. Moneyhub’s AI-driven tech will help enrich the data we’re giving back to our customers and set us up for success with even more personalised products and services in the future.”
Combating fraud and improving wellbeing
Beyond general financial management, the enriched data is designed to help customers spot anomalies more quickly. By providing clearer details on who was paid and where, the system helps users identify fraudulent transactions instantly, allowing the building society to provide immediate support.
Alastair McGill, chief executive officer at Moneyhub, added: “Moneyhub exists to help our financial services clients build services that improve their customers’ digital experience and deliver better financial outcomes. Presenting retail customers with a fine-grained understanding of their income and expenditure is an essential part of this journey, so we’re delighted that Nationwide selected our Categorisation and Enrichment engine.”
The deal underscores Nationwide’s continued investment in digital capabilities following its acquisition of Virgin Money, which solidified its position as the second-largest provider of mortgages and retail deposits in the UK.
Since my last letter where I tried to explain the underground economy of FPC Morgantown I have been struggling to come up with an idea of what further information you may be interested in.
In modern life on the outside we are all so used to immediate feedback on everything we do. We write and publish an article and almost instantly comments start to roll in. You push to Twitter and the peanut gallery chimes in and has their say, and you as the content creator have an immediate idea of the general sentiment surrounding your work.
It takes some getting used to not having that modern feedback loop, but on the other hand it is quite liberating as well. All that said I have decided that today I am going to write you about the food situation at FPC Morgantown. I hope this letter will be interesting to you. Feel free to write me a letter with your thoughts and suggestions. My address will be posted at the bottom of this letter.
If you have time to read this article, you have time to sign the petition to free Samourai Wallet developers Keonne Rodriguez and William Hill. Every signature counts. CLICK THE IMAGE ABOVE OR HERE.
One of the things I have been doing regularly since arriving at FPC Morgantown is keeping a daily journal. Usually towards the end of my day around 8:00PM I sit at a desk flanked by chess tables and write a summary of the days events. I write about any thoughts I had throughout the day or any incidents that have occurred. When I first got here I only had some blank white printer paper and a very uncomfortable pen (thanks to Omar who provided me with these supplies).
Now, after a shopping trip to the commissary I have a wide ruled notebook and a slightly more comfortable pen. In any case, around the third day of journaling I realized a great majority of what I was writing about was about food or at least somewhat tangentially related to food. I now make an effort to avoid writing about the food in my daily journal as it gets repetitive.
However it got me pondering why so much of my energy went to writing about the food served in the “Chow Hall”. The conclusion I have come to is that so much of a prisoners day revolves around the three main meals and food quantity, quality, and variety in general, that it becomes a naturally big part of our daily life.
At 6:00 AM a crackling static hiss fills the empty hallways and the sleeping rooms of the housing unit. A loud announcement proceeds from the overhead speakers embedded in the ceiling: “ATTENTION BATES UNIT: MAINLINE IS NOW OPEN”. This is our first call to food of the day. “Mainline” is some BOP lingo to mean meal time.
Most prisoners avoid the 10 minute walk to the Chow Hall at this call to breakfast – myself included now. On Monday, Wednesday, and Friday there is supposed to be a “hot breakfast” which could be pancakes (always stodgy and undercooked) served with a brown liquid in a condiment package that is apparently margarine and another brown liquid in a condiment package which is some sort of syrup; French toast (actually pretty tasty) served with the same margarine and syrup; or biscuits and gravy (biscuits are good, avoid the gray soup that is less gravy and more dirty laundry water).
Each of these is served with oatmeal or grits both quite tasteless and reminiscent of wallpaper paste. Though more often than not we do not get any of those things, we get something they call “spice cake” which is a giant piece of cake (without icing) where the batter is mixed with cinnamon until it turns brown. It doesn’t taste terrible, but one starts to resent the taste of cinnamon cake when it is served every morning (and again for lunch if there is any left over from breakfast – and there always is).
Every other day is what we call Cold Breakfast. This consists of some sort of bran flake so stale it is reminiscent of eating cardboard. Even the most stoic prisoner who attends every breakfast will otherwise avoid the Chow Hall on a cold breakfast day.
I do not remember if I told you about the multitude of ducks and geese who live on the compound. They were supposed to migrate south for winter at some point in the past, but instead they found such a hospitable environment among the prisoners who happily feed them leftovers (against the rules by the way) that they decided to forgo the instinct to migrate to warmth and stay here year round.
They reproduced in the way only animals can and now there must be hundreds of geese and mallard ducks that waddle around the entire compound. These prisoner water fowl know the food schedule just as well as us human prisoners do. They wait by the exit of the Chow Hall for altruistic prisoners to throw them a few pieces of bread after every meal, quacking and squawking demanding their fair share. On Cold Breakfast days, throw the fowl the bran flakes and each one will refuse to eat them. That should tell you everything about the universally hated Bran Flakes.
In any case, the 6:00AM Breakfast is the only time you have access to milk. You are offered two small cartons of fat free skim milk – which appears to be closer to water than milk – that is often several days expired.
Usually the milk is still drinkable, sometimes however the carton swells so much it appears it is about to explode. That is a good indication the milk has soured. If you are given a sour milk, tough luck. The breakfast mainline closes somewhere around 20 minutes after it is called, so you scarf down your cake and oatmeal, you drink your two cartons of skim milk (or more commonly you pocket the milk to bring back to the housing unit for later use – which by the way is against the rules and may result in disciplinary action for contraband – with a more appetizing cereal you purchased from the Commissary). You make the 10 minute journey back to the housing unit to await the next break in the monotony of your life. Mainline lunch call.
Lunch mainline is called around 10:45 AM. Calling it lunch is quite generous, really it is late breakfast. Indeed we often get “breakfast for lunch” which is quite universally hated on the compound.
Cold scrambled eggs are usually on the breakfast for lunch menu. You really never know what you’re going to get at lunch time. They post a menu for the week in the housing unit, but from experience that appears to be more aspirational than factual. Some days you will receive a massive portion of “chicken fried rice” which is neither chicken or fried rice. It is turkey and some vegetables with some rice, but it is quite tasty, and somewhat nutritious.
Other times you will get an overcooked tiny hamburger patty – that appears to be a piece of leather recycled from our issued work boots – on a stale and occasionally moldy bun with a few onions, a tomato slice, and some iceberg lettuce. We had this yesterday in fact, and it put a damper on the mood across the whole compound. As I put it to my cellmate Mike, “When the onions, tomato, and bun are the star of the show instead of the beef, that is a bad burger”.
Portion sizes vary wildly. If the kitchen workers serving that day are black and you are black you likely will receive a bigger portion, maybe a second shoe leather patty. If they are Hispanic they likewise show favor to those of their heritage. I am not black, and while Hispanic, I do not speak Spanish and I look like a gringo, so no extra portions for me. Besides portion size disparity there is also a massive gulf in seasoning reliability. There are times that so much salt has been added you need a gallon of water by your side to replenish your fluids as you eat. Other times it is as if salt is the equivalent of gold and must not ever be used on something so trivial as food. Lunch ends around 11:15 and off we are sent to carry on with our day.
Dinner mainline is called around 4:45 PM. I would consider this a late lunch but I do recognize that many people (my dear wife included) consider this an acceptable supper time. Again, the general rule is to expect anything.
It may be something delicious or something inedible. You may get a double portion if you are the right race or a half portion if the server doesn’t like the look of you. It may be over seasoned, under seasoned, not seasoned at all. It may be listed on the calendar and it may not be. You never know what to expect, and that is my entire longwinded point as to why the food is such a popular thing to discuss among the prisoners here, and has taken up so much of my energy during my daily journals.
Our entire day is couched by calls to eat food. 6:00, 10:45, 4:45, and each and every time it is called it is entirely unpredictable. Every other aspect of our lives here is extremely regimented, extremely predictable, very monotonous. But heading to the Chow Hall three times a day, that is throwing the dice of fate, that is an unknown variable in a well known equation.
That is something different every day to talk about. You see the same people over and over again in your Unit. You run into the same person 50 times a day, and frankly you run out of things to say. You can only talk about how fucked up the Feds are, how you were shafted by the prosecutors, how your Judge was a bitch, so many times. The unknown variable of Chow Hall three times a day injects new blood into what could become a very stale social situation. Shared disgust at a horrible meal. Incredibility at how delicious the chicken parmesan was. Complaint at breakfast for lunch again! The shared ordeal of meal times maintains a common social order.
You may have gathered from the above paragraphs that the food quality generally is quite low. Most ingredients are supplied by vendors who can get away with selling expired and close to rotten ingredients to the prison system. I have heard from kitchen staff that many boxes arrive in the kitchen labeled “Not For Human Consumption”. Our potatoes are mouldy, our canned vegetables long expired, our protein suspicious.
You couldn’t legally give this quality of food away on the outside, but you can legally sell it to the BOP who will use it to feed the adults in their custody. Besides low quality ingredients and bland to actively disgusting recipes the nutritional value of our meals is extremely low. If you are a die hard disciple of the USDA Food Pyramid – bunk nutritional science that everyone but the slow moving feds recognize as a national tragedy, responsible for the exceptional rise of obesity rates – then yes, I suppose we are getting – on paper – the required nutritional value out of every meal.
The on-the-ground results of a prolonged diet like one we are subjected to does not lie. I have spoke with many different prisoners, several of them doctors, who have come into the prison system as healthy adults and after several years of custody have developed chronic health problems. High blood pressure and high cholesterol seem to be the most common problems reported. Almost every prisoner is on some sort of prescribed medication for some ailment they developed whilst in custody.
Because of the problems I have described. Many prisoners do not bother with the meal time calls to Chow Hall. I have met several prisoners who never go to the Chow Hall and only buy prepared food or cook for themselves. This is also not an ideal solution. The food items the commissary sells must be shelf stable, nothing that can spoil without refrigeration.
This naturally means nearly everything is packed to the gills with preservatives and salt. On my first commissary day I purchased 10 pouches of chicken breast, several bags of quick cook ‘minute rice’, several pouches of dried mash potatoes, small bags of shredded mozzarella cheese (there is no expiration date on the cheese, so I suspect it is more preservatives than cheese), 10 pouches of tuna, mayonnaise (again, no need to refrigerate so quite suspicious), hot sauce (vital for making the Chow Hall food more palatable), salt, pepper, onion flakes, garlic powder, soy sauce, jelly, peanut butter, individually wrapped bagels, dried milk, and frosted flakes cereal.
Next time I plan on buying granola, oatmeal, protein shakes, and tortillas. The food I am able to prepare is tastier than the chow hall, but I am not yet sure if it is healthier. It is also quite difficult. The only cooking tools legally available to you is: on demand hot water (190 degrees F) and a half gallon plastic jug. It takes some trial and error to cook under those conditions. It is a lot of hassle and expense which makes cooking for yourself prohibitive for those prisoners only relying on their prison jobs.
Almost everyone on the outside who hasn’t been to prison themselves or have a loved one incarcerated does not think about the basic needs that individuals have in custody, or how those needs are met. The food and nutrition in the system is woefully inadequate. We need higher quality ingredients, fresh fruit and vegetables, and far more protein. We need better options for cooking our own food within the unit, something more than hot water. We need access to refrigeration so we can keep fresh produce and items not filled with preservatives.
Thank you for reading this letter from the inside. I do not mean to use this opportunity writing you to complain. “It is prison after all” some of you will say, “it is not meant to be nice”. Anyway, complaining isn’t in my nature, and it often does nothing but make you and everyone around you miserable. I don’t write this letter looking for sympathy or condolences, I write to simply inform you of my reality, and the reality of countless number of people in the custody of the BOP. Happy New Year dear reader. I hope 2026 brings you (and me) great opportunities.
Please note: You can only send letters (no more than 3 pages long). No packages or other items are allowed. Books, magazines, and newspapers must be sent directly from the publisher or an online retailer like Amazon. All letters must include a full return address and sender name to be delivered.
Still rangebound, Bitcoin offered little inspiration to market participants.
Keith Alan, cofounder of trading resource Material Indicators, offered some hope in the form of a buy signal from one of the latter’s proprietary trading tools.
“A new Trend Precognition signal on the $BTC Daily chart does not necessarily mean Bitcoin will test resistance today,” he wrote in an X post on the topic.
“While that is indeed a possibility, the new signal indicates there is a high probability that price will not revisit yesterday’s low today.”
BTC/USD one-day chart. Source: Keith Alan/X
Alan referred to Monday’s brief dip below $87,000 and said that the current daily candle now needed to close above the 2026 open level near $87,500.
“A wick below is a sign of weakness, and an indication that a breakdown is likely coming,” he added.
While the S&P 500 and Nasdaq Composite Index both opened slightly higher on the day, gold began to show signs that it would retest $5,000 as support.
As volatility cooled across macro assets, Bitcoin price momentum analysis from onchain analytics platform CryptoQuant was cautiously optimistic.
“Data from Binance shows that daily price momentum is positive at approximately $1,676, with a momentum of 1.93%, indicating a moderately higher closing price compared to the opening price,” contributor Arab Chain wrote in a “Quicktake” blog post.
“This reading reflects a clear attempt by the market to regain balance after a previous wave of selling pressure; however, it does not yet constitute strong bullish momentum. Instead, it suggests a quiet corrective move.”
Bitcoin daily momentum and volatility tracker (screenshot). Source: CryptoQuant
Arab Chain added that Binance order-book data showed Bitcoin being in a “period of anticipation rather than an immediate breakout or distribution phase.”
Bitcoin Wyckoff analysis sees “spring” event next
As Cointelegraph reported, markets anticipated fresh turbulence in the second half of the week.
Related: Bitcoin trend line cross mimics 2022 amid ‘insane’ BTC vs. silver breakdown
Wednesday was due to see the US Federal Reserve decision on interest rates, along with guidance by Chair Jerome Powell, under heavy pressure to cut them from the government.
Despite that, expectations of a rate cut remained below 3% Tuesday, per data from CME Group’s FedWatch Tool.
Fed target rate probabilities for Jan. 28 FOMC meeting (screenshot). Source: CME Group
In his latest forecast, commentator MartyParty added further importance to the Fed event and others this week.
Using Wyckoff analysis, MartyParty saw a key long-term swing low, known as the “spring,” occurring on BTC/USDT around the same time. An accompanying chart warned that this could take the pair below $80,000.
“This coincides with the Wyckoff Spring Event. Expect Volatility,” he told X followers.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
XRP is trading at $1.89, down 1.2% today, which caps off a rather gloomy week of 2.4% losses and a two-week tumble totaling 8.4%. With a market cap holding steady at $114 billion, XRP clings to the fifth spot among cryptocurrencies by size—but don’t expect a celebratory confetti cannon just yet. The 24-hour trading volume […]
Microsoft’s next-generation AI chip, Maia 200, highlights the growing need for inference-focused chips as AI workflows become more dominated by reasoning and agentic AI.
The cloud provider on Jan. 26 unveiled the new accelerator chip, underscoring that it is engineered for large-scale AI workflows. Built on TSMC‘s 3-nanometer process with FP8/FP4 Tensor Cores (highly specialized hardware units), Maia 200 can process AI models quickly while using less memory, according to Microsoft. The chip can run the largest AI models currently available, with room for bigger models in the future, the vendor said.
Maia 200 comes nearly three years after Microsoft introduced Maia 100. While Microsoft designed the previous-generation chip in a pre-reasoning, agentic AI world, the current chip design demonstrates the changes that have occurred since then.
Over the past two-plus years, enterprises have been running more reasoning and agentic AI workflows, creating a need for more chips, power, and more optimized memory. This need is increasingly urgent as enterprises deploy AI agents capable of thinking through and executing multi-step tasks. Deploying AI agents has also become an expensive endeavor because the more compute a system uses, the more power it needs, and the more costly it becomes. Therefore, if an enterprise can reduce the price of inference, which is essentially the process of running a model, it can get better value for its money.
Related:OpenAI Targets Monetization, $1.4T Commitments by 2034
As the AI market shifts its focus to reducing inference costs, there has been an emphasis on maximizing intelligence. This has led tech giants such as Microsoft, Google, and Amazon to build their own AI chips, or Application-Specific Integrated Circuits (ASICs), because these chips deliver high performance while improving cost and energy efficiency.
The 200 Difference
With Maia 200, Microsoft is seeking to differentiate from other ASIC providers by claiming in its blog post introducing Maia that the chip’s performance makes it better than Amazon Trainium and Google’s TPU chips
“They want to make sure and highlight the fact that this is a chip that is laser-focused on inference scaling,” said Chirag Dekate, an analyst at Gartner.
He added that the FP4/FP8 performance Microsoft highlighted means enterprises can orchestrate diverse complex model structures on the same architecture.
Moreover, Maia 200’s expanded memory capacity shows that Microsoft designed it for reasoning-intensive tasks, Dekate said.
“Thinking and reasoning tend to slash your memory bandwidth and memory capacity extensively,” he said.
Related:OpenAI, ServiceNow Enter Into Strategic Multiyear Partnership
Usage and Challenges
Currently, Microsoft is using Maia 200 as part of its AI infrastructure and to power models such as GPT-5.2 from OpenAI. It will also support Microsoft Foundry and Microsoft 365 Copilot. Microsoft’s superintelligence team will use the AI chip for synthetic data generation and reinforcement learning to improve its next in-house models.
While the first use of the model is internal, Microsoft is accepting sign-ups from enterprises interested in Maia 200 SDK, now in preview.
Dekate said enterprises that can customize and use specialized capabilities will get the most out of Maia 200.
“The goal here will likely be to deliver differentiated economics and better intelligence for what [will be] an energy-constrained decade,” he said, referring to the increasingly high demands being put on the electric power grid by the profusion of AI data centers.
The challenge for enterprises using Maia could be an increased reliance on Microsoft, as it is sometimes hard to work across multiple cloud providers, Dekate added.
For Microsoft, the challenge will be optimizing the model for the right opportunities and market fits. Compared to Nvidia GPUs, enterprises cannot use most ASICs right out of the box, he said.
Related:How AI is Reducing the Administrative Burden in Sales
“There may be delays, lags, challenges in identifying the right market fit opportunities,” he said.
A rotating cast of top candidates has roiled Polymarket betting on the next chair of the Federal Reserve, but the new favorite, BlackRock’s Rick Rieder, has argued that bitcoin will replace gold and has recommended people should have it in their portfolios.
Rieder, BlackRock’s chief investment officer for global fixed income, has rocketed to the top of the list of President Donald Trump’s likely picks in the prediction markets, and he’s frequently waxed supportive of cryptocurrencies.
He said as far back as 2020 — in much earlier days of digital assets — that bitcoin would take over for gold as a store of value, “because it’s so much more functional than passing a bar of gold around,” he said in a CNBC interview. And more recently, he told the same outlet that bitcoin should be part of a smart investment mix, saying that the leading digital token and gold were “things that give you a little bit of ballast in the portfolio.”
In that September interview, when bitcoin was still above $112,000, he predicted “it’s going to go up.” The cryptocurrency is currently trading around $88,000, having fallen recently on possible tariffs and other geopolitical turmoil.
Trump has a choice to make before the term of Fed Chairman Jerome Powell — who the president has framed as his economic nemesis — is set to expire on May 15. It was Trump who originally placed Powell, a Republican, in that pivotal role, but the president has since routinely lamented his performance, calling him “dumb” and “stupid” and nicknames such as “Mr. Too Late.”
Meanwhile, Trump has often teased about frontrunners for his replacement, making for a volatile prediction market. Rieder has said it’s “an unbelievably honor to even be mentioned in that list.”
Rieder vocally shares Trump’s frustrations at the sedate pace at which the Fed has cut interest rates. In a recent interview during the president’s trip to Davos in Switzerland, Trump called Rieder “very impressive,” and his odds on Polymarket have climbed from under 3% to almost 53% at their height, before settling at a current 48%.
For the crypto sector, a Fed chair can pull multiple levers. Apart from a heavy influence in the group that sets the federal funds rate, the chair controls the board’s regulatory agenda. However, Powell has deferred to the vice chair for supervision, Michelle Bowman, on the Fed’s supervisory work.
So Rieder’s crypto enthusiasm may not have a significant play in the rules the regulatory side of the Fed writes for such things as stablecoins or central bank digital currencies (CBDCs).
More than as a mechanic of policy, a Fed chair has a softer role as an outsized voice on the health and direction of the U.S. economy, and a staunch bitcoin advocate in that position would be a first.
Though Powell is departing soon as chairman, his term as a regular governor on the Fed board continues, leaving some question about whether he’ll take the traditional route and exit after his leadership expires or stay on another two years. Every member of the board has an automatic seat on the Federal Open Market Committee that decides U.S. interest rates, meaning a Powell decision to stay would keep his generally centrist position in place in that group and would fail to open another seat for a Trump appointee.
Trump’s relentless criticism of Powell escalated last month when his Department of Justice said it’s investigating the central bank chairman for his public descriptions of renovations at the Federal Reserve buildings in Washington. Powell released an unusual, direct response.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president,” Powell said.
For years, Bitcoin (BTC) traders have watched its price relative to gold (XAU) for clues on when BTC bottoms in US dollar terms. But in 2026, that BTC-to-gold signal is starting to look less dependable.
Key takeaways:
Bitcoin hits undervaluation versus gold and has slipped below its Power Law trend.
BTC/XAU is already under the 200-2W EMA that historically lined up with bottoms.
Gold’s next move likely dictates whether BTC gets a relief rally.
Bitcoin keeps declining in gold terms
This week, the BTC/XAU ratio, or the value of Bitcoin versus gold, drifted away from its long-term “Power Law” trend for the first time in history, as highlighted by analyst Julius.
A Power Law is a long-term trend curve that some analysts use to model Bitcoin’s growth path over time. In trading terms, it can flag potential overvaluation when the price stretches above the curve, and possible undervaluation when it slips below.
BTC/XAU weekly chart ft. power law bands. Source: TradingView/Julius
As of January, BTC/XAU was at its most undervalued stage. It reached those levels as gold surged past the record $5,000 mark and markets turned risk-off due to yen intervention and US government shutdown fears.
That also occurred when most Wall Street firms predicted gold to rally further in 2026, including Bank of America, which said last week that the precious metal would cross above $6,000 by the year’s end.
In contrast, Bitcoin markets showed concerns over the four-year-cycle theory. As it notes, BTC price topped out at around $126,200 in October 2025, and could decline below $50,000 in the coming months.
This further hinted at a sustained BTC/XAU downtrend in the coming weeks, rather than a cyclical bottoming setup.
Do technicals suggest a BTC price bottom?
A continued decline in the BTC/XAU ratio would also threaten a decisive breakdown below the 200-2W EMA (200-2W EMA; the blue wave), a level that historically aligned with true BTC/USD cycle bottoms.
BTC/XAU vs. BTC/USD two-week chart comparison. Source: TradingView
That includes a fake breakdown signal in 2022, wherein BTC/XAU broke below its 200-2W EMA only to reclaim it as support after two months.
In 2026, the ratio has already plunged below that same EMA, with macro catalysts raising odds that it could decline further, thus breaking the BTC/XAU bottom fractal.
Conversely, Citi warned gold’s rally could stall or reverse later in 2026 if real US yields rise, the dollar stabilizes and risk appetite returns. In that scenario, the demand for defensive, risk-off hedges may decline.
Related: Bitcoin trend line cross mimics 2022 amid ‘insane’ BTC vs. silver breakdown
A gold pullback could relieve some pressure on BTC/XAU, potentially restoring Bitcoin’s odds of hitting $140,000 or higher price targets, as predicted by Standard Chartered and other companies.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Tether has formally launched USAT, a dollar-backed stablecoin issued under the United States’ new federal stablecoin framework and designed exclusively for the domestic market. USAT Goes Live The token is issued by Anchorage Digital Bank, a nationally chartered institution operating under federal oversight, marking a structural departure from Tether’s globally circulating stablecoin products. USAT is […]
Roughly $16 billion in illicit crypto flowed through Chinese-language Telegram-based networks in 2025.
Chinese-language networks now account for about one-fifth of the roughly $82 billion in crypto money laundering activity recorded in 2025, according to new research shared with The Defiant.
In a report released today, Jan. 27, blockchain forensics firm Chainalysis said that these networks — which largely operate across Telegram and affiliated “guarantee” platforms — processed an estimated 20% of illicit crypto flows over the past five years.
That expansion has far outpaced the growth of laundering routed through centralized exchanges or DeFi protocols, the report noted.
Share of Chinese-language crypto money laundering networks from 2020. Source: Chainalysis
According to Chainalysis, Chinese-language money laundering networks handled over $16 billion in 2025 alone, equivalent to roughly $44 million per day, across about 1,800 active wallets.
At the center of the ecosystem are so-called guarantee platforms, including Huione and Xinbi, which function as escrow-style marketplaces primarily used to exchange illicitly obtained funds. While enforcement actions have disrupted some of these hubs, Chainalysis said that vendors typically shift to alternative channels with little lasting impact on their operations.
“A combination of nationally-based laws, barriers created by borders, poor information sharing, and limited crypto tracing and asset recovery capabilities mean that crypto offers criminals a low risk/high reward method of benefiting from their criminality,” Chainalysis wrote in the report.
Earlier this month, Chainalysis also warned that crypto scams are becoming harder to trace as bad actors move deeper into DeFi, increasingly using decentralized exchanges and cross-chain bridges to hide the origin of stolen funds.