- Newsletter Bitcoin
- Posts
- LAPD Recovers $2.7M Bitcoin Miners | Newsletter Bitcoin Week 17 of 2025
LAPD Recovers $2.7M Bitcoin Miners | Newsletter Bitcoin Week 17 of 2025
The Bitcoin Newsletter to keep you updated on all things Bitcoin
In partnership with
TL;DR
BTC is up
Bitcoin dominance is up
Bitcoin Surpasses Google Market Cap
Gold and Bitcoin Rally Amid Market Turmoil
Bitcoin Supply Drops on Exchanges
Sovereign Wealth Funds Increasing Bitcoin Holdings
US Banks Cleared to Support Bitcoin
Cantor, Tether and SoftBank Launch Bitcoin Venture
Arkansas City Rejects Crypto Mining
Bitdeer Secures $60M Loan for ASIC Expansion
LAPD Recovers $2.7M Bitcoin Miners
And much more!
Grab Your 7 Day Free Trial
You're invited to upgrade your subscription to our Premium membership with a 7 day FREE trial!
No catches. No strings attached. Just pure crypto alpha to get you ahead!
Upgrade now for:
Ad-Free Experience đ«đ
Deep Bitcoin Alpha đ°đ„
New Bitcoin Jobs đžđ
All for just $15/month after the trial.
Don't miss out! Get your FREE trial today đ
Sponsor of the Week
Unwind Naturally with Enhanced Relief Gummies
Feel the calm set in with these Enhanced Relief Gummiesâcrafted with 5mg THC + 75mg CBD for stress relief, reduced anxiety, and deep relaxation without the hangover.
Perfect for evenings when you need to truly unwind. Get 25% off your first order with code RLX25 and experience why this brand has over 48k 5-star reviews.
Bitcoin Price
Crypto is down this week, with BTC up 11.6% and ETH up by 12.6%:
Coingecko As at 12:29 am ET
Bitcoin dominance increased over the week, starting at 60.84% and reaching a high of 61.62%, before settling at 61.27%. Investor sentiment, regulatory changes, technological advancements, and the overall growth of the cryptocurrency sector shape Bitcoin's market dominance. Its reputation as "digital gold" also enhances its position, making it a key player in the market.
Itâs going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.
Bitcoin Market Update:
Bitcoin continues to trade within a narrowing range between $91,700 and $94,500, but signs point toward an imminent breakout as on-chain and technical indicators align in favor of a move toward the $100,000 mark.
The convergence of rising open interest, negative funding rates, and bullish chart formations is setting the stage for a potential short squeeze that could drive prices significantly higher.
Rising Open Interest vs. Negative Funding Rates
According to Glassnode, Bitcoinâs funding rates dropped as low as -0.023% even as open interest surged by 15%, signaling growing short positions against an upward price movement.
Glassnode
This rare divergence suggests that a short squeeze, where short sellers are forced to buy back positions during a sudden price rally, may be brewing.
Analysts at Jlabs Digital highlighted the bullishness of this setup, stating that "a rally with negative funding and rising OI is rare and bullish," implying there is still momentum left in the current trend.
Key Resistance at $95K Defines Breakout Zone
Market analysts are closely watching the $95,000 resistance level as the key threshold that Bitcoin must break to shift from consolidation to a full-fledged uptrend.
AlphaBTC noted that "Bitcoin consolidating under resistance" and emphasized that the price is likely to range between $93,000 and $95,000 until this level is decisively reclaimed.
Echoing this, analyst Jelle said, âA break above $94K and this sends a lot higher,â pointing to growing strength despite ongoing resistance.
QCP Capital observed increased demand for call options at the $95K strike for both April and May expirations.
In their April 25 note to investors, they wrote, "With macro risks temporarily subdued and trade tensions cooling, BTC is likely to consolidate in a narrow $90Kâ$94.5K range while awaiting a catalyst for a decisive push toward the elusive $100K mark."
Bullish Chart Structures Support Breakout Narrative
Multiple technical chart formations support the bullish case. A textbook double bottom pattern on Bitcoinâs daily chart points to a price target of $100,575, while a bull pennant on the hourly timeframe projects a move toward $100,900.
Tradingview
On the three-day chart, Bitcoin recently broke out of a falling wedge pattern, with a projected move toward $102,270. Each of these patterns is reinforced by supportive moving averages and a surge in breakout volume, indicating strong buying interest.
Liquidity Cluster and Profitability Drive Market Sentiment
Data from CoinGlass reveals a dense concentration of short liquidations around the $100,000 level, acting as a liquidity magnet for market makers. This cluster increases the probability of a price squeeze toward six figures.
Additionally, Glassnode data shows that 87.3% of Bitcoinâs supply is currently in profit, up from 82.7% in March. Such high profitability levels often precede euphoric market phases, further bolstering bullish sentiment.
Glassnode
With multiple indicators aligning, Bitcoin appears poised for a breakout. A successful reclaim of $95,000 could initiate a sharp move toward the $100,000 level in the coming days.
Bitcoin (BTCUSD) Analysis
As of April 26, 2025, Bitcoin (BTC) is trading at $94,765. In the short term, BTC has broken above key resistance at $93,000, with momentum supported by an RSI above 70, signaling a potential continuation toward $102,800. Medium-term signals remain slightly positive, with support at $92,364 and continued strength above $92,500 indicating bullish pressure. The long-term trend is neutral, with Bitcoin trading within a rising channel and approaching major resistance at $106,000.
Expected Trading Ranges:
Bitcoin (BTC): Support at $93,000; Resistance at $106,000
BTC/ETH ratio has decreased:
The BTC to ETH rate has decreased over the week, exhibiting a consistent and strong downward trend, starting at 55.53 ETH on April 21 to a low of 52.24 ETH on April 23, before settling at 52.68%.
âThe market dynamics are shifting. Demand now outpacing supply. Massive discounts still available for the taking. One thing is certain: nothing lasts for ever. This bearish trend will reverse into a bullish one. The real question is ... are you ready for it?.â
Sponsor of the Week
Want to get the most out of ChatGPT?
ChatGPT is a superpower if you know how to use it correctly.
Discover how HubSpot's guide to AI can elevate both your productivity and creativity to get more things done.
Learn to automate tasks, enhance decision-making, and foster innovation with the power of AI.
Financial News
Bitcoin has officially surpassed Googleâs market capitalization, reaching $1.86 trillion as its price surged past $94,000. This move solidifies Bitcoinâs position as the worldâs fifth-largest asset, trailing only Gold, Apple, Microsoft, and Nvidia. The rally was fueled by a broader tech sector upswing and improving U.S.âChina trade relations.
Bitcoinâs strong momentum also allowed it to outperform major benchmarks like the Nasdaq, breaking through critical technical levels. This milestone further validates Bitcoinâs expanding role in global markets and highlights accelerating crypto adoption as traditional financial and tech sectors experience shifting capital flows.
Bitcoin hit $87,500 and gold reached a new all-time high of $3,400 as political turmoil shook traditional markets. The US dollar index fell to a three-year low amid Donald Trump's attacks on Fed Chair Jerome Powell and new tariff threats against China. Investor flight to safe-haven assets boosted both Bitcoin and gold.
Bitcoinâs recent decoupling from stocks is reviving its "digital gold" narrative. With rising inflation fears and weakening dollar strength, Bitcoin is gaining fresh momentum as an alternative asset in uncertain times. Ethereum also rose 3.2% to $1,640 over the past 24 hours.
Bitcoin ETFs in the U.S. attracted $912.7 million on April 22, the largest single-day inflow since January 17. Top performers included ARKB with $267.1 million and FBTC with $253.8 million. The surge follows political tensions as Donald Trump criticized Fed Chair Jerome Powell, causing market uncertainty.
Bitcoinâs price rose above $90,000 as investors sought safe-haven assets amid declining confidence in the U.S. dollar. Experts note that Bitcoin is increasingly behaving like a macro asset, responding to broader economic and political shifts rather than moving independently from traditional financial markets.
Semler Scientific has purchased an additional 111 Bitcoin for approximately $10 million, increasing its total holdings to over 3,300 BTC, valued at around $300 million. This acquisition, made at an average price of $90,000 per coin, has resulted in a 23.5% Bitcoin yield year-to-date.
The company employs "BTC Yield" as a key performance indicator, measuring the ratio of Bitcoin holdings to outstanding shares, reflecting growing exposure per share for investors. To finance these purchases, Semler issued approximately $125 million in new stock and raised $75 million through a private offering of convertible senior notes in January.
Bitcoin reserves on exchanges have fallen to their lowest level since November 2018, with publicly traded companies ramping up their Bitcoin purchases. Fidelity Digital Assets reports that over 425,000 BTC have been moved off exchanges since November, signaling long-term investment.
Public companies, including Strategy, have been major contributors, with Strategy alone acquiring 285,980 BTC. The trend also extends globally, as companies in Japan and Hong Kong increase their Bitcoin holdings. This shift suggests a growing institutional interest in Bitcoin as a long-term asset.
Adoption News
Sovereign wealth funds and institutions have been accumulating Bitcoin (BTC) in April 2025, while retail traders are exiting through ETFs and spot markets, according to Coinbase Institutional's John DâAgostino. DâAgostino compared Bitcoin to gold, noting its scarcity, immutability, and non-sovereign asset portability.
Institutions, including governments like El Salvador and Bhutan, are adopting Bitcoin reserves to combat inflation and protect purchasing power. Bitcoin's recent surge past $90,000 solidifies its growing importance as a hedge against macroeconomic risks.
Cantor Fitzgerald, Tether, Bitfinex, and SoftBank are launching 21 Capital, a $3 billion Bitcoin investment firm set to list on Nasdaq under the ticker âXXI.â The venture will convert over 42,000 BTC into shares priced at $10 each, fixed at an $85,000 Bitcoin rate.
Strike CEO Jack Mallers will lead 21 Capital, positioning it as a diversified, structured alternative to MicroStrategyâs strategy. The firm plans to raise an additional $550 million through bonds and private equity, offering transparent Bitcoin Per Share and Bitcoin Return Rate metrics to create a regulated, tradable proxy for institutional Bitcoin exposure.
Michael Saylorâs Strategy acquired 6,556 BTC for $555.8 million last week at an average price of $84,785, boosting total holdings to 538,200 BTC. The purchase was funded through $547.7 million in common stock sales and $7.8 million from Series A preferred stock.
Strategy has now bought 91,800 BTC in 2025, accounting for 17% of its total reserves. This move follows a brief buying pause and signals renewed momentum in its aggressive acquisition strategy. Institutional interest in MSTR continues to grow, with 13 institutional holders and over 814,000 retail accounts now exposed to the firm.
The U.S. Federal Reserve has withdrawn its 2022 guidance discouraging banks from engaging in crypto, signaling a shift that could accelerate institutional Bitcoin adoption. Michael Saylor declared that U.S. banks are now âfree to begin supporting Bitcoin,â following the Fedâs policy reversal.
Industry leaders view this as a pivotal moment for broader financial participation. The change paves the way for regulated banking involvement, a domain previously dominated by crypto-native firms like Coinbase. Further institutional momentum hinges on pending legislation, including the GENIUS and STABLE Acts, which aim to standardize crypto oversight.
Charles Schwab, a $10 trillion asset management giant, has announced plans to introduce spot Bitcoin trading within the next 12 months. The move, confirmed by CEO Rick Wurster, will provide millions of clients the ability to trade Bitcoin directly through their brokerage accounts.
Schwab currently offers Bitcoin ETFs and futures, but direct digital asset trading will place them in competition with platforms like Coinbase and Robinhood. Experts predict this move could significantly impact the market, similar to the launch of Bitcoin ETFs in 2024.
Mining News
Viloniaâs planning commission unanimously rejected a proposed crypto mining facility following strong community opposition. Residents raised concerns about noise pollution, energy strain, and environmental impact, citing examples from other towns where mining caused disruptions. Vilonia has a history of resisting mining projects, previously denying permits and voicing sustainability concerns.
Broader Arkansas legislation has also aimed to limit crypto mining activity near military facilities. This rejection reflects growing national scrutiny of mining operations amid concerns over local infrastructure, quality of life, and minimal economic benefit. Similar tensions have surfaced in other states, including recent lawsuits in Texas.
The Los Angeles Police Department recovered $2.7 million worth of Bitcoin mining rigs stolen from Los Angeles International Airport. Two suspects, linked to a South American crime ring, were arrested. The stolen machines were found among $4 million in goods seized from storage units.
Additional items included stolen tequila, clothing, and electronics. The shipment was initially bound for Hong Kong. Authorities noted the ongoing nature of the investigation, hinting at more arrests. Bitcoin mining rigs remain highly valuable, typically selling for $3,000 to $5,000 each, making them frequent targets in high-profile thefts.
Riot Platforms secured a $100 million Bitcoin-backed credit facility from Coinbase to support corporate operations and strategic growth. The loan, maturing in one year with a possible extension, carries an annual interest rate starting at 9%.
Riot, holding 19,223 BTC valued at around $1.8 billion, used a portion of its Bitcoin treasury as collateral. RIOT stock rose over 8% following the news but remains down 24.6% year-to-date. Despite market volatility, Riot posted record earnings in 2024, generating $376.7 million in sales and $109.4 million in net income ahead of its May 1 earnings call.
Bitdeer secured $60 million in loans from Matrixport to boost Bitcoin ASIC manufacturing amid surging network hashrates and shrinking miner revenues. The credit line, backed by Bitdeerâs Sealminer hardware, carries a floating rate of 9% plus benchmarks.
Bitdeer also expanded operations by acquiring a 101 MW power project in Alberta for $21.7 million and prioritized self-mining due to weaker hardware demand. The Bitcoin hashrate reached 1 sextillion hashes per second, pressuring miner profitability as transaction fees fell to around $1, forcing many miners to sell over 40% of their BTC production.
Cleansparkâs proposal for a Bitcoin mining facility in Mountain City is progressing, with preliminary backing from the local planning board. The facility, located on a 50.48-acre site, could be operational within two months, pending approval of the site plan and energy agreements with the Tennessee Valley Authority.
The mining site would feature low-noise ASIC equipment and create top-paying jobs. The project has received support from local officials, with the Mayor calling it promising despite delays in the site plan. Cleansparkâs market position as the fourth-largest publicly traded Bitcoin miner strengthens the projectâs significance.
Thanks for reading our newsletter!
Like, Subscribe and Share to support our work.