A crypto analyst recently shared a bold prediction: if Bitcoin hits $150,000, we could see a drop below that level. Meanwhile, the US SEC has decided to cancel the controversial SAB 121 rule, along with other important news.

Nasdaq is taking steps to amend BlackRock’s Bitcoin ETF. They filed a request to allow in-kind redemptions for the ETF. This means that institutions could use either cash or Bitcoin when creating or redeeming shares. Bloomberg's ETF analyst, James Seyffart, pointed out that BlackRock “should have been allowed to do this from the get-go.” This filing comes as six more crypto ETF applications hit the US market.

In another development, MicroStrategy may face taxes on unrealized gains of around $19 billion. Despite not selling any Bitcoin, the company could be liable for federal taxes due to the Inflation Reduction Act of 2022. This act introduced a “corporate alternative minimum tax,” which could mean a 15% tax rate for MicroStrategy based on its adjusted earnings.

On a different note, Ross Ulbricht, the founder of Silk Road, thanked President Donald Trump after receiving a full pardon. This was his first public statement since being released from prison after over 11 years. In a video shared on X, Ulbricht expressed his gratitude, saying, “Thank you so much, President Trump, for giving me this amazing blessing.”

The SEC has also rescinded the SAB 121 rule. This rule required financial firms holding crypto to report it as liabilities on their balance sheets. On January 23, the SEC announced this change, which many in the crypto industry had been pushing for. SEC Commissioner Hester Peirce remarked, “Bye, bye SAB 121!”

Senator Elizabeth Warren has written an open letter to Elon Musk, chair of the Department of Government Efficiency (DOGE). In her letter, she suggested ways to cut government waste. She proposed fully funding the IRS, closing the carried interest loophole, and adding a capital gains tax on estates. With Musk's estimated net worth of $426 billion, he’s certainly a target for these proposals.

Currently, Bitcoin is trading at $104,900, with Ether at $3,322 and XRP at $3.10. This brings the total market cap to $3.60 trillion, according to CoinMarketCap. Among the top 100 cryptocurrencies, Official Trump (TRUMP) has seen the biggest gain this week at 372.53%. Other gainers include Raydium (RAY) at 32.13% and GateToken (GT) at 24.35%. On the flip side, Sonic (S) has dropped 31.97%, ai16z (AI16Z) has fallen 30.77%, and dogwifhat (WIF) is down 30.68%.

Analyst James Check from Glassnode believes Bitcoin’s price action reflects the 2016-2017 cycle. He predicts it could reach a peak of $150,000. In a recent podcast, he referred to the $120,000 to $150,000 range as the “topping cloud.” Check noted that any price above this level might not hold for long.

In a more controversial note, Janice Elizabeth McAfee, widow of John McAfee, has launched a memecoin in her late husband’s honor. She announced this through her late husband’s X account, saying, “You didn’t think I’d miss this cycle, did you?” Initial reactions were positive, but later analysis showed that 90% of the token’s supply had already been distributed to various wallets.

According to a report from Chainalysis, cryptocurrency donations to extremist groups are rising in Europe, despite a global decline. The report highlights that Europe accounted for nearly 50% of on-chain activity related to extremist groups from 2022 to 2024. Additionally, the size of these donations is increasing, with several types of extremist groups seeing significant growth in deposits year-over-year.

Lastly, David Balland, co-founder of Ledger, was recently released after being kidnapped in France. He was abducted from his home but was rescued during a police operation. The kidnappers had demanded a ransom in cryptocurrency. Ledger, founded in 2014, specializes in hardware wallets that secure users’ private keys and raised 100 million euros in 2023, achieving a valuation of 1.3 billion euros.