PANews reported on January 17th, citing Cointelegraph, that Cryptoquant analyst Dark Frost stated that selling pressure from OG holders has significantly decreased. The 90-day average of spent UTXOs has dropped from a cycle high of approximately 2300 BTC to around 1000 BTC, with the current trend favoring holding. This trend aligns with the largest net outflow of Bitcoin from exchanges since December 2024. Analysis suggests Bitcoin has entered a breakout phase and may challenge the $107,000 target price, driven by factors including technical indicators, reduced selling pressure from long-term holders, and continued BTC outflows from exchanges. On the macro front, the correlation between Bitcoin and gold has turned negative; historical data shows that in such situations, BTC typically rises by an average of 56% within approximately two months.

Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more

