Crypto Market Update: UK Police Seize US$7B in Bitcoin in Largest Crypto Bust

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$116,477, trading 3.1 percent higher over the past 24 hours. Its lowest valuation of the day was US$112,819, while its highest was US$116,808.

Bitcoin price performance, October 1, 2025

Chart via TradingView

Bitcoin has struggled to hold support near the US$111,600–US$113,000 range amid renewed seller pressure and earlier long liquidations during the last days of September. After that weakness, BTC rebounded into the mid-six figures and was trading around US$116,000.

Bitcoin and other digital assets jumped early Wednesday as markets digested the fallout from the latest US government shutdown. While S&P 500 futures slid 0.55 percent overnight and the dollar briefly tumbled before clawing back losses, Bitcoin rallied more than 2 percent to US$116,400, underscoring its safe-haven appeal alongside gold, which spiked 1.1 percent to US$3,913.70 per ounce.

Trader Ted Pillows noted that Bitcoin climbed above US$116,500 alongside gold hitting a new all-time high, with the Nasdaq also in the green. He linked the rally to expectations of a more dovish Federal Reserve following the US government shutdown.

Bitcoin dominance in the crypto market is 55.6 percent, showing a slight rise week-on-week.

Ether (ETH) is also performing well, up 3.1 percent over 24 hours to US$4,298.07. Ether opened at its lowest daily valuation, US$4,095.64, before peaking at US$4,315.74 so far.

Trader Ted Pillows argued that ETH must close a strong weekly candle above US$4,000 to confirm upward momentum. He compared the level’s significance to Bitcoin’s US$12,000 resistance in 2020, suggesting that a decisive reclaim could spark a rally reminiscent of BTC’s 2020–21 surge.

Ether has broadly followed BTC’s tone — after a late-September pullback ETH reclaimed the low-US$4k zone and was trading in the US$4,100–US$4,300 range. Market commentators note ETF flows and institutional treasuries remain drivers of demand for ETH

Crypto derivatives and market indicators

Total Bitcoin futures open interest was at 722,680 BTC (equivalent to US$84.26 billion), up by 0.92 percent over four hours. Ether open interest was at 1,326 million ETH, or US$56.96 billion, up 0.26 percent in four hours.

Bitcoin liquidations have reached US$12.61 million over the past four hours, with shorts representing the majority, signaling ongoing buying pressure. Ether liquidations show a divergent pattern, with US$3.41 million in short positions representing the vast majority of US$4.40 million liquidations over four hours.

Fear and Greed Index snapshot

Chart via CoinMarketCap.

CMC’s Crypto Fear & Greed Index has climbed back to neutral territory after dipping to fear (lowest 32) during the last week of September. The index currently stands around 42.

Altcoin price update

• Solana (SOL) was priced at US$219.33, an increase of 5.9 percent over the last 24 hours and its highest valuation of the day. SOL opened at US$204.69, its lowest valuation of the day, and trended upward.

• XRP was trading for US$2.95, up by 3.3 percent over the last 24 hours and its highest valuation of the day. Its lowest valuation of the day was US$2.82.

Today’s crypto news to know

UK police seize US$7B in Bitcoin in largest crypto bust

The UK Metropolitan Police have confirmed the largest cryptocurrency seizure in history, confiscating 61,000 Bitcoin worth around US$7.2 billion.

The stash was uncovered during a 2018 raid on Zhimin Qian, a Chinese national convicted last week of acquiring criminal property under the UK’s Proceeds of Crime Act. Prosecutors said Qian ran a Ponzi-style investment scheme in China from 2014 to 2017, targeting more than 128,000 victims, many of them elderly.

She converted the stolen funds into Bitcoin, which authorities later recovered from hardware wallets in her London residence.

Police described the seizure as the culmination of a seven-year investigation, noting that the value eclipses previous records for any single Bitcoin confiscation.

Trump-linked crypto firm eyes commodities, consumer products

World Liberty Financial, the crypto venture tied to U.S. President Donald Trump, announced plans to expand into tokenized commodities and launch a crypto-linked debit card.

Speaking at Token 2049 in Singapore, CEO Zach Witkoff said the card would bridge digital assets with retail spending, with a pilot expected by early 2026.

The company is also exploring tokenization of oil, gas, timber, and other raw materials, positioning the firm to move beyond stablecoins and governance tokens.

WLFI’s flagship stablecoin, USD1, has quickly grown into the fifth-largest in circulation, backed by US Treasuries and marketed as a tool to reinforce dollar demand abroad.

Metaplanet buys US$623M in Bitcoin, now 4th-largest corporate holder

Japanese investment firm Metaplanet has acquired 9,021 Bitcoin valued at US$623 million, becoming the fourth-largest corporate holder of the asset.

The company now trails only MicroStrategy, MARA Holdings, and XXI in corporate Bitcoin reserves.

CEO Simon Gerovich said Metaplanet is targeting 210,000 BTC by 2027, a level equal to about 1 percent of the total supply. The firm’s Bitcoin Income Generation business has also fueled the push, reporting US$16.3 million in Q3 revenue, a 116 percent increase over the prior quarter.

Management raised its 2025 revenue forecast to US$45.4 million following the strong quarter.