PA Daily | Bitcoin mining difficulty has been raised to over 123T, setting a record high; Abraxas Capital has increased its holdings of more than US$250 million in BTC in the past four days
Reprinted from panewslab
04/20/2025·1MToday's news tips:
Trump's plot to expose: script to remove Powell is leaked, Fed successor surfaces
Moonshot launches Wizard Gang ($Wizard)
Semler Scientific Bitcoin’s book loss of approximately US$41.8 million this year
MANTRA: 90% of the token circulation supply has never been controlled by the team
Viewpoint: If Trump fires Fed Chairman Powell, he will set a very bad precedent
Bitcoin mining difficulty increased by 1.42% to 123.23 T, setting a record high
Data: cbBTC circulation supply exceeds 33,000 pieces
Regulatory/Macro
Trump's plot to expose: script to remove Powell is leaked, Fed successor surfaces
According to King Shi, the Wall Street Journal disclosed that US President Trump has been privately discussing the issue of firing Fed Chairman Powell for months, but he has not yet made a final decision on whether to oust Powell before the end of his term next year. At a meeting at Mar-a-Lago, Trump spoke with former Fed director Kevin Warsh about the possibility of firing Powell before the end of his term and potentially choosing Wash to replace him, sources said.
According to people familiar with the matter, Wash had suggested not to fire Powell and believed that the Fed chairman should be allowed to complete his term without interruption. At a meeting in the Oval Office on Thursday, Trump expressed his belief that he has the right to rush Powell to step down. Trump said: "If I want him to step down, he will step down soon, believe me." Trump also said he was not satisfied with Powell. Any move by Trump to fire Powell will almost certainly be brought to the Supreme Court. This could cast a shadow of scrutiny on Powell's final departure, and any prospect of the Federal Reserve's chairman being dismissed due to policy disputes could put financial markets down.
The White House declined to comment. Wash did not respond to a request for comment.
ECB expects digital euro to replace 50% cash flow
According to Spanish news agency EFE, the European Central Bank reported that after the promotion of the digital euro, five banknotes will be withdrawn from circulation for every 10 digital euros issued. The project is seen as a strategic sovereign tool for the EU, in contrast to the Trump administration's stance that it refused to develop a digital dollar. The report pointed out that the popularity of digital currencies will reshape the asset structure and may reduce bank deposits and cash demand.
Project News
Moonshot launches Wizard Gang ($Wizard)
Moonshot announced the launch of the Solana chain currency Wizard Gang ($Wizard). Its current market value is approximately US$6.8 million, with a 24-hour trading volume of US$15.5 million.
MANTRA: 90% of the token circulation supply has never been controlled by the team
MANTRA JP Mullin issued a clarification on the X platform: "90% of the token circulation supply has never been controlled by the team, because more than 91% of the token circulation supply has been issued on Ethereum and has been in circulation for nearly five years, which is more than FUD."
Semler Scientific Bitcoin’s book loss of approximately US$41.8 million this year
According to CryptoPotato, citing 8-K documents filed by Semler, Semler Scientific reported that Bitcoin did not achieve a book loss of about $41.8 million in the first quarter of 2025, which was caused by the price of BTC falling from $93,500 at the beginning of the year to about $82,000 at the end of March. As of March 31, the company held 3,192 BTC, with a total value of approximately US$264 million.
Balance announces EPT token economic model, TGE will be launched on April 21
The Balance Foundation announced its EPT token economic model, with the total supply of EPT tokens of 10 billion, which will be launched on the BNB chain and Ethereum double-chain on April 21, 2025 (UTC). In token allocation, airdrops and community incentives account for 15%, node rewards 25%, and ecological growth 23%. The airdrop targets include E-PAL users, early supporters, active community users and Pioneer badge NFT holders. EPT will be used to pay for AI services, governance, staking, incentives and other functions.
Binance Alpha and Binance contracts will be launched on Balance (EPT) earlier this week.
Retail investors dominate the index on Binance, while Coinbase Prime is only 18.3%
CryptoQuant data shows that Binance's current retail investors' leading index reaches 89.6%, indicating that retail investors are extremely active on the platform. In contrast, Coinbase Prime's index is 18.3%, highlighting its institutional customer-oriented positioning.
Binance will adjust the settlement frequency of VOXELUSDT U-standard perpetual contract fund rate
According to the official announcement, Binance Contract will adjust the settlement frequency of VOXELUSDT U standard perpetual contract fund rate at 00:00 on April 20, 2025 (East Eighth District time). The settlement frequency of fund rate will be adjusted from once every four hours to once every two hours.
Binance adjusts VOXEL contract fund rate settlement frequency to hourly
According to Binance announcement, from 14:00 on April 20, 2025 (Beijing time), the settlement frequency of the fund rate of VOXELUSDT perpetual contract will be adjusted from once every two hours to once every hour, and the upper and lower limits of the fund rate will be maintained at ±2.00%.
Binance changes the settlement frequency of NKN and BROCCOLI contract funds rate to every 4 hours
According to Binance announcement, from 16:00 on April 20, 2025 (Beijing time), the settlement frequency of the fund rate of NKNUSDT and BROCCOLIF3BUSDT perpetual contract will be adjusted from once every 8 hours to once every 4 hours, and the upper and lower limits of the fund rate will be maintained at ±2.00%.
On-chain data
According to Cointelegraph, on-chain analytics platform CryptoQuant warned in its Quicktake blog post that the Bitcoin market is about to fluctuate, with analyst Mignolet revealing data that about 170,000 BTC is being transferred from groups that have been held for 3 to 6 months. The behavior of these short-term holders may cause the current calm BTC price to not last long, usually heralding a significant volatility. By contrast, long-term holders move only about 529 BTC per day, highlighting short-term fear or profit-taking, while long-term beliefs remain intact.
According to ai_9684xtpa monitoring, the giant whale, which once spent $16.41 million to build a position in PNUT&ai16z&arc, has accumulated a total loss of $9.98 million, and its assets have shrunk by more than 60%.
PNUT: Spend $9.12 million to build a position, cost $0.3448, cleared the position two weeks ago and lost $4.975 million;
ai16z: Spend $5.6 million to build a position, cost $0.7447, and currently has a floating loss of $4.58 million;
arc: Spend $2.77 million to build a position, cost $0.2914, cleared the position two months ago and lost $426,000.
According to previous analysis, the address may belong to Galaxy Digital, but it is temporarily impossible to confirm whether it is a market maker for three tokens.
According to Aunt Ai, five wallets suspected to belong to the same institution or Giant Whale invested a total of 1,920 BNB to purchase tokens in the early stage of SKYAI opening. They have currently made a floating profit of about 8.913 million US dollars, with a return rate of up to 784%. SKYAI's current market value is approximately US$65.47 million. Officials say that it will airdrop tokens to user addresses in the order of BNB transfers during the pre-sale period.
According to Cointelegraph, London-based investment company Abraxas Capital has increased its holdings of about 2,949 BTC in the past four days, worth more than US$250 million. Analysis found that despite the continued increase in holdings of giant whales and institutional investors, the sharp fluctuations in medium-term Bitcoin holders (on average of Bitcoin for three to six months) have triggered concerns about volatility. Analyst Mignolet disclosed data shows that about 170,000 BTC is being transferred from groups that have been held for 3 to 6 months. The behavior of these short-term holders may cause the current calm BTC price to not last long, usually heralding a significant volatility.
Viewpoint
According to CoinDesk, 21Shares released a report saying that based on an analysis of historical trends and current market signals, Bitcoin may reach $138,555 by the end of 2025. Bitcoin’s response to industry and macro shocks suggests that investor confidence is mature, rising adoption rates in high-inflation economies reinforces Bitcoin’s hedging narrative, and on-chain data and liquidity trends suggest that the market is in a consolidation phase rather than a peak.
21Shares added that the forecast $138,555 will increase by 64% from the current price level, although Bitcoin is still likely to pull back to nearly $77,000, but the broader metric levels point to sustained growth.
According to Cointelegraph, Glassnode data shows that the Bitcoin giant whales are still in a strong accumulation area. Large holders (whales and sharks) who currently hold more than 100-1,000 Bitcoins are absorbing Bitcoin at the fastest pace in history. The current absorption of this group has exceeded 300% of the annual issuance of Bitcoin. At the same time, the exchange's Bitcoin holdings continue to decline, and the annual absorption rate has dropped to -200%, indicating that investors are more inclined to hold for a long time or self-custody.
In addition, the accumulated score of address trends with more than 10,000 BTC is about 0.7, indicating that it is still in a strong accumulation state. Technical analysis shows that Bitcoin has broken through the decline wedge pattern for many months. If the current trend continues, the price may exceed $100,000 in May. $88,800 is the key resistance level to reverse the market structure. If the bulls cannot break through, it may not be able to continue to maintain strong momentum.
Viewpoint: If Trump fires Fed Chairman Powell, he will set a very bad precedent
According to Cointelegraph, Anthony Pompliano, founder and CEO of Professional Capital Management, said that if Trump fired Fed Chairman Powell, it would set a very bad precedent, especially given the real motivation behind it, explaining that while the Fed had made mistakes in its intention to operate independently, it was not the right way to do it. Anthony Pompliano emphasized that he is not a fan of the Federal Reserve. He previously said that Bitcoin holders were one of the first large groups to see through problems with the US economic data and grasp the financial opportunities for rising space through coin holding and other methods.
Important data
Data: cbBTC circulation supply exceeds 33,000 pieces
According to Dune data, the circulation supply of encapsulated Bitcoin cbBTC launched by Coinbase has reached 33,038 pieces, with a current market value of approximately US$2.81 billion. cbBTC's market share in encapsulated Bitcoin rose to nearly 20%, while wBTC's market share fell to 75.7%.
Bitcoin mining difficulty increased by 1.42% to 123.23 T, setting a record high
According to CloverPool data, the Bitcoin network completed a new round of difficulty adjustments at 17:13:37 on April 19, 2025 (block height 893,088), and the difficulty value was increased by 1.42% to 123.23T, setting a new historical peak again. The current average computing power of Bitcoin network has climbed to 888.37 EH/s, and the next difficulty adjustment is expected to be carried out in about 13 days and 21 hours.
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