Kategorie: Bitcoin News

• According to blockchain analytics platform Arkham Intelligence, the United Arab Emirates holds about $700 million in Bitcoin.
• Arkham traced the mining activity to Citadel Mining, which it said was established in Abu Dhabi in 2022.
• Based on Arkham’s report and estimates from BitBo, the UAE ranks sixth among sovereign Bitcoin holders.

The United Arab Emirates holds about $700 million in Bitcoin, primarily accumulated from mining operations, according to blockchain analytics platform Arkham Intelligence.

In a post on X on Monday, Arkham said it had become one of the first to publicly identify the UAE government’s wallets, estimating that they contain about 6,300 Bitcoin.

The holdings were attributed to mining conducted through Citadel Mining, a company majority owned by the government-backed International Holding Company (IHC).

Arkham noted that, unlike the United States and the United Kingdom, where national Bitcoin holdings have largely come from police asset seizures, the UAE’s reserves are linked directly to mining.

Speculation around the country’s Bitcoin exposure had previously suggested much larger reserves.

Market rumors often placed the UAE’s holdings at around 420,000 Bitcoin, worth roughly $46 billion at current prices, and allegedly sourced from seizures of illicit activity.

Those estimates, if accurate, would have positioned the UAE as the largest sovereign Bitcoin holder globally.

Arkham’s findings, however, put the figure substantially lower.

Mining operations tied to royal-linked conglomerates

Arkham traced the mining activity to Citadel Mining, which it said was established in Abu Dhabi in 2022.

The firm reported that the venture was developed in collaboration with Phoenix Group, a publicly listed UAE mining company, and the IHC.

Arkham added that it corroborated the timeline of on-chain mining activity with satellite imagery showing the construction of the facility.

The company said on-chain transactions between Phoenix and Citadel also matched figures disclosed in official documents.

Based on its analysis, Arkham estimated that Citadel Mining has mined a total of 9,300 Bitcoin to date.

Citadel Mining is 85% owned by 2pointzero, a holding entity controlled by IHC.

The IHC itself is majority owned by the UAE Royal Group, a conglomerate led by Sheikh Tahnoon bin Zayed Al Nahyan of Abu Dhabi’s royal family, which holds a 61% stake.

How UAE compares with other nation-states

Based on Arkham’s report and estimates from BitBo, the UAE ranks sixth among sovereign Bitcoin holders.

Its reserves place it behind Bhutan, which holds 11,286 Bitcoin, and ahead of El Salvador, which holds 6,246.

The United States remains the largest holder with 198,012 Bitcoin, most of it originating from law enforcement seizures.

China follows with 194,000, mainly stemming from its 2019 crackdown on the PlusToken scam, while the UK ranks third with 61,245.

BitBo estimates that sovereign entities collectively hold about 517,000 Bitcoin, or 2.4% of the total circulating supply, with a total value exceeding $56 billion.

In the corporate sector, Michael Saylor’s firm MicroStrategy is cited as the largest institutional holder, with a treasury of 629,376 Bitcoin, representing about 2.9% of the supply.

The company continues to expand its Bitcoin reserves.

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• The crypto bull run is fraying as Bitcoin slips below $110,000.
• A massive whale sale triggered over 500 million in liquidations.
• A huge divergence: Retail is selling while institutions are buying.

The crypto bull run is fraying at the edges, its momentum faltering in the face of a profound and unsettling contradiction.

On the surface, the market is a picture of fragility and fear, with thinning liquidity, massive liquidations, and a Bitcoin price struggling to hold the line.

But beneath this chaotic veneer, a different story is unfolding: one of quiet, colossal, and strategic accumulation by the world’s financial titans.

The immediate pain is undeniable. Bitcoin is trading just below $110,000 after another failed attempt to bounce, marking a roughly 7% decline since its euphoric peak after Fed Chair Powell’s dovish speech.

Ethereum, which briefly tasted the air near 4,900, has been sharply rejected and is now battling to hold $4,300, showing clear signs of exhaustion after weeks of outperformance.

This weakness cascaded through the altcoin market on Monday, with ETH, SOL, DOGE, and others sliding 6-8%, triggering a brutal 700 million liquidation event that overwhelmingly punished long positions.

A structure of glass: the anatomy of a collapse

For many market observers, this is a textbook case of a rally running on fumes. The analytics firm Glassnode, in its latest Market Pulse, paints a grim picture of the cycle slipping from euphoria into fragility.

They point to fading spot momentum, a stunning 1 billion swing to outflows in ETFs, and realized profits collapsing back to breakeven.

This structural weakness was laid bare in a brutal weekend crash, the anatomy of which was traced by QCP Capital.

They revealed that the collapse was initiated by a single early holder unloading a massive 24,000 BTC into dangerously thin liquidity.

The sale cascaded through the market, triggering $500 million in liquidations and exposing, as QCP noted, just how brittle the system has become.

The quiet accumulators: a different breed of buyer

But this is only half the story. The Singapore-based market maker Enflux argues that a myopic focus on the retail washout misses the bigger picture. Not all flows, they contend, are created equal.

While leveraged retail traders were being blown out, a different kind of player was making its move.

Enflux points to a staggering $2.55 billion ETH stake routed through a single contract and the UAE royal family’s 700 million BTC exposure via Citadel Mining.

These are not speculative punts; they are the deliberate, programmatic footprints of sovereign and institutional allocators. In their analysis, these giants are intentionally “using volatility to scale into size.”

This is the great divergence: a market where the short-term conviction of the crowd is shattered, while the long-horizon conviction of the “smart money” is quietly being deployed.

A bleak September looms?

The problem, however, is that this long-term institutional buying does little to solve the immediate crisis of liquidity on the Bitcoin blockchain itself.

With transaction fees collapsing toward decade lows and blocks clearing with little congestion, the network is running quiet.

This is a critical issue for miners, who are already squeezed by the halving, and it leaves the broader market exposed and bracing for what comes next.

As September—historically Bitcoin’s weakest month—approaches, the market is on a knife’s edge.

The battle between the fragile, fleeing retail trader and the patient, accumulating giant will determine whether the next move is a painful consolidation or a much deeper, darker drawdown.

The post Bitcoin slips below $110,000 as analysts warn of ‘brittle’ market structure appeared first on CoinJournal.

• Bitcoin price has dropped to lows of $110,956 as gains seen on Friday disappear.
• The downturn has accelerated amid the BTC sell-off and decline in dominance.
• Analysts say Bitcoin can extend losses below $110k amid wider fall.

Bitcoin’s downturn since the brief surge post Federal Reserve chair Jerome Powell’s speech at Jackson Hole on Friday has extended to below $111k.

The benchmark digital asset has slipped more than 3% to drop to lows of $110,956 across major exchanges, with BTC struggling as the bounce that followed Powell’s comments on cryptocurrency quickly fades.

Bitcoin’s dominance was also falling sharply, down to around 57%.

Analysts remain bullish, but could Bitcoin price drop below $110k and trigger further losses?

Bitcoin extends dip to $111k

Cryptocurrencies spiked on Friday as risk assets exploded amid comments by Powell that the central bank could consider cutting rates sooner.

However, the brief rally that followed the Jackson Hole economic symposium has since swiftly unravelled, with Bitcoin plummeting to touch lows of $110k.

On Aug. 22, BTC saw an intraday peak of $117k – up from lows of $113k earlier in the day.

According to QCP, the downturn to current prices comes as an early whale offloaded a substantial $2.7 billion in BTC.

This rapid sell-off has accelerated a dip in BTC dominance, which hovers around 57%.

Asia Colour – 25 Aug 25

1/ $BTC’s post-Jackson Hole bounce didn’t last long, with a ~$2.7bn early-holder sale during thin Sunday liquidity sparking a flash crash that wiped out $500m in leveraged positions within minutes.

— QCP (@QCPgroup) August 25, 2025

Meanwhile, Bitcoin’s weakness has been evidenced by a dip in spot exchange-traded funds (ETFs) flows, with six consecutive sessions of outflows putting bulls under pressure.

What next for BTC? Analysts’ take

Bitcoin’s long-term trajectory remains largely bullish, and a bounce to the all-time high above $124k is not an impossibility.

However, analysts at Glassnode are pointing to a short-term downside arc.

Particularly, all Bitcoin cohorts, with those in the 10- 100 BTC group biggest sellers, are in a distribution phase.

All $Bitcoin cohorts have now decisively moved into distribution, led by the 10–100 $BTC group. The uniformity across cohorts highlights broad sell-side pressure emerging in the market. pic.twitter.com/zVZkaPN2Tf

— glassnode (@glassnode) August 25, 2025

Increased selling could be bad news for bulls as a breakdown below $110k could ensue.

But despite this outlook, analysts at QCP Group maintain that Bitcoin is bullish.

The analysts say that despite the current sell-off, buyers can easily absorb the pressure as happened in July.

With BTC dominance slipping, it is Ethereum that may benefit, the analysts said.

“BTC dominance slipped from 60% to 57%. Still above the sub-50% levels of 2021, but enough to fuel speculation that whales expect $ETH to outperform, especially if ETH staking ETFs secure approval later this year,” QCP noted.

Bitcoin price currently hovers around $111,200, bouncing off lows last seen in early July. Investors will be watching that $110k level as well as broader market conditions.

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