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Crypto CEOs envision Bitcoin dipping to the "mid to low" $20k range before reaching new all-time highs.

In a post on X (formerly Twitter) dated January 25, Burniske, currently a partner at the crypto venture capital firm Placeholder, suggested that the price of BTC should "at least" decline to $30,000. As bearish sentiments surround Bitcoin's price, several prominent figures in the crypto industry are predicting further decreases.

Burniske has joined the ranks of those making downward projections, setting his floor target even lower than some others. He expressed his opinion that Bitcoin could drop to "at least" $30,000 to $36,000 before finding a local bottom. He also added that he wouldn't be surprised if the cryptocurrency tests the mid-to-high $20,000 range before stabilizing and making a significant move toward its previous all-time highs.

Earlier in the week, Arthur Hayes, the former CEO of the crypto exchange BitMEX, also foresaw a potential drop in Bitcoin's price to $30,000 before a recovery.

There are more extreme predictions, such as that of the well-known trader Il Capo of Crypto, who maintains the belief that $12,000 is still within the realm of possibility. However, he currently sees a temporary relief for Bitcoin bulls, suggesting that the local bottom may be in place for a while. He emphasized that confirmation of this bottom would come with a reclaim of the $40,000 level, indicating a deviation below this point and absorbing the liquidity in that range.

The United States plans to auction Bitcoin valued at $117 million, linked to seizures related to the Silk Road case..

The US District Court for the District of Maryland has mandated the forfeiture of nearly $117 million worth of Bitcoin (BTC) associated with the Silk Road drug marketplace. This ruling stems from the convictions in a prominent case involving former Secret Service agent Shaun Bridges, as well as Maryland residents Joseph and Ryan Farace.

According to the official notice dated January 8, 2024, the court has ordered the forfeiture of 2,874 BTC, valued at approximately $114 million, along with an additional 58 BTC, surpassing $2 million in worth.

The responsibility of overseeing the disposal of the forfeited property lies with the US Attorney General. Non-defendant parties interested in the property have a 60-day window from January 10, 2024, to submit ancillary petitions. Once this period concludes, the US will attain a clear title to the property, enabling the transfer of good title to any subsequent purchaser or transferee.

The development of 'Britcoin' progresses to the design phase, with the final decision still pending.

The Bank of England (BOE) has announced that it is in the exploration phase for the implementation possibilities and design options of 'Britcoin,' a digital iteration of the British pound. The central bank is considering the creation of a Central Bank Digital Currency (CBDC), but a final decision is contingent on the completion of this exploratory phase.

The statement emphasizes that, although the concept of a CBDC has garnered significant support from various industries, a conclusive decision to proceed with 'Britcoin' has not been reached. The upcoming design phase aims to delve deeper into the viability of 'Britcoin' and its potential to enhance convenience and innovation in everyday transactions for individuals and businesses.

As per the established roadmap, authorities anticipate making a decision on the CBDC between 2025 and 2026, contingent upon approval from Parliament. Despite the technical ability of any country to swiftly declare the creation of a CBDC, the practical implementation process is complex and requires careful consideration. As of January 2024, only 11 countries have fully launched a digital currency, according to data from the CBDC tracker Atlantic Council.

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