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UK government found to have billions of dollars Bitcoin: Arkham

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4 months ago

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The UK government was founded by the blockchain analytics platform that held billions of dollars in Bitcoin in the past few years.

Arkham Intelligence, on the on-chain analytics data on Dec. 06, has found the wallet that is connected to the UK government that holds 61.245k Bitcoin (BTC) worth $6 billion. This wallet has also gained profit from the Bitcoin price movement, with more than $28 million in unrealised profit.

It is stated by Arkham that the Bitcoin owned by the UK government is a seized asset from Zhimin Qian, a fraudster with a multi-billion pound scam.

“The UK government now holds $6 billion USD of Bitcoin. They have been holding this for 3.5 Years after its seizure from Zhimin Qian in 2021,”

Arkham stated on X post

Although the last time this wallet was actively used was 3 months ago, the seized Bitcoin that they received only happened 3 years ago. The first time, they received 2,400 Bitcoins worth $93 million, and they got the same amount at a different transaction. In the last one, they received 19.200 Bitcoin worth $750 million.

UK government found to have billions of dollars Bitcoin: Arkham - 1
Dashboard dedicated to UK government digital asset | Source: Arkham Intelligence

UK government accused Zhimin Qian

Zhimin Qian, a Chinese nationality, defrauded 130,000 Chinese investors of $5.6 billion between 2014 and 2017. She was enlisted by Jian Wen, who had already been sentenced to 6 years in prison due to the money laundering plot.

Qian will face the trial in September next year at Southwark Crown Court, where a co-defendant, Seng Hok Ling, has also pleaded not guilty to related charges.



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Bitcoin Price Holds Steady, But Futures Sentiment Signals Caution

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April 17, 2025

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Este artículo también está disponible en español.

According to a recent CryptoQuant Quicktake post, while Bitcoin (BTC) has seen a steady rise in price from November 2024 to February 2025, sentiment in the cryptocurrency’s futures market has not shown a corresponding uptick.

Bitcoin Futures Sentiment Index Signals Caution

Bitcoin’s price surged from approximately $74,000 in November 2024 to a peak of $101,000 by early February 2025. However, following US President Donald Trump’s tariff announcements, risk-on assets – including BTC -have experienced a significant pullback.

After hitting a potential local bottom of $74,508 earlier this month on April 6, the apex cryptocurrency has recovered some of its recent losses. The top digital asset is trading in the mid $80,000 range at the time of writing.

Despite this recovery, BTC’s futures sentiment has continued to decline since February. Even as the price holds near local highs, sentiment in the futures market has notably cooled.

CryptoQuant contributor abramchart highlighted this divergence, noting that it could indicate increasing caution or profit-taking behavior despite the ongoing bullish trend. The analyst commented:

This indicates a cooling interest or increased fear in the futures market, possibly due to macroeconomic uncertainty, regulatory concerns, or expected corrections.

A look at the BTC futures sentiment index shows a resistance zone around 0.8 and a support level near 0.2. The index is currently hovering around 0.4, pointing to a predominantly bearish sentiment across futures markets.

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The BTC Futures Sentiment Index currently hovers around 0.4 | Source: CryptoQuant

Similarly, Bitcoin’s average price has steadily declined from its early 2025 highs. It is now ranging between $70,000 and $80,000, signalling possible market indecision amid heightened tariff tensions.

According to abramchart, if futures sentiment remains low, BTC could face extended price consolidation or even downward pressure in the near term. However, any emerging bullish catalyst could quickly shift the sentiment and renew upward momentum.

Is BTC Close To A Momentum Shift?

Some analysts believe Bitcoin may be nearing a breakout. After consolidating in the mid-$80,000s for several weeks, on-chain metrics suggest BTC may be undervalued at current levels. Indicators such as BTC exchange reserves and the Stablecoin Supply Ratio support this view.

In addition, momentum indicators like Bitcoin’s weekly Relative Strength Index have begun to break out of a long-standing downward trendline – raising hopes for a potential bullish rally back toward $100,000.

However, several risks still remain. The recent appearance of a ‘death cross’ on BTC’s price chart – combined with persistent macroeconomic concerns related to trade tariffs – could still weigh heavily on market sentiment. At press time, BTC trades at $83,917, down 1.8% over the past 24 hours.

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BTC trades at $83,917 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash, Charts from CryptoQuant and TradingView.com



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Panama City Approves Bitcoin And Crypto Payments For Taxes, Fees, And Permits

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4 hours ago

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April 17, 2025

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In yet another milestone for Bitcoin adoption in Latin America, the Panama City Council has voted to approve the acceptance of Bitcoin and other digital currencies for municipal services, making it the first public institution in the country to do so.

The news was announced by Panama City Mayor Mayer Mizrachi on X (formerly Twitter), who stated:

“Panama City council has just voted in favor of becoming the first public institution of government to accept payments in Crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT.”

This decision sets Panama City on a more progressive path, enabling residents to interact with their local government using Bitcoin for everyday transactions. Mizrachi also explained how this was achieved without the need for new legislation, a hurdle that had stalled previous efforts.

“Prior administrations tried to push a bill in the senate to make this possible, but we found a simple way to do it without new legislation. Legally, public institutions must receive funds in $, so we partner with a bank who will take care of the transaction—receiving in crypto and convert on spot to $. This allows for the free flow of crypto in the entire economy and entire government.”

The Panama City Mayor’s Office further confirmed the news on its official social media channels, saying:

“We will soon become the first public institution in the country to allow payment for municipal services in cryptocurrency, through an authorized bank that will be responsible for converting the proceeds into dollars for the Mayor’s Office.”