Multiple Institutions Q3 Sell-off Strategy, Sell-off Size Approximately $5.4 Billion

On April 2, per HTX market data, Bitcoin surpassed $69,000, up 1.85% over the past 24 hours.

April 2 — The U.S. Treasury Department has officially launched implementation efforts for the stablecoin-focused "GENIUS Act," releasing an 87-page proposed rulemaking notice as the Act’s first implementing regulation, with a 60-day public comment period. Under the "GENIUS Act," stablecoin issuers with total circulation under $10 billion may opt for state-level regulatory oversight, provided their state’s framework is "substantially similar" to the federal one. The Treasury will use this notice to establish general principles defining "substantial similarity."

April 2: U.S. officials say former President Trump will reiterate a 2- to 3-week timeline for withdrawing from Iran in an upcoming national address, and will tout "achievements in Iran." As previously reported, White House Press Secretary Levitt has stated that President Trump will deliver a national address at 9 p.m. Eastern Time (9 a.m. Thursday Beijing Time) to provide a major update on the Iran situation.

April 2: Per LookOnChain monitoring, Bitcoin miner Riot Platforms reportedly offloaded another 500 BTC roughly two hours ago, valued at $34.13 million.

On April 2, Bloomberg reported that the U.S. Supreme Court has cast doubt on former President Donald Trump’s attempt to end birthright citizenship, suggesting a key component of his immigration agenda may be struck down. Trump sat in the front row of the courtroom during oral arguments. Trump has long argued that the current U.S. birthright citizenship system is widely abused and represents a major loophole in the country’s immigration framework. He has repeatedly stated publicly that birthright citizenship—under which anyone born on U.S. soil automatically receives U.S. citizenship—is not a “gift” for illegal immigrants or temporary visitors, but was established post-Civil War to protect the descendants of enslaved people. Per monitoring by PolyBeats (via the link [https://t.me/PolyBeats_Bot]), the probability on the prediction market Polymarket that the U.S. Supreme Court will overturn Trump’s executive order related to birthright citizenship has risen from 81% to 95%.

LookOnChain monitoring shows that on April 1, whale address bc1q9j withdrew 1,000 BTC (valued at $67.25 million) from Binance. As of April 2, the whale has just redeposited the same 1,000 BTC, netting a $1.46 million profit.