The cryptocurrency market is experiencing notable weakness, with Bitcoin (BTC) continuing to decline and many altcoins dropping over 10%. In a significant development, the US government has been approved to sell $6.5 billion worth of BTC associated with the Silk Road case. Additionally, Bitcoin Exchange Traded Funds (ETFs) have witnessed their second-largest outflow ever. Market analysts suggest a 75% probability of a market peak, while CFTC chair candidates from Kraken and A16z are in the spotlight. Legislation such as the BTC Freedom Act is being introduced in Oklahoma, amid ongoing discussions about crypto regulation led by the outgoing CFTC chair. Noteworthy happenings include XRP CEO Garlinghouse's meeting with Trump, upcoming listings for XRP’s RLUSD, Solana’s validator upgrades, and the scheduled trial for Do Kwon in January 2026. The Ethereum Foundation recently sold 100 ETH, while FTX’s bankruptcy case has raised concerns regarding financial mismanagement. Furthermore, Thailand is set to pilot cryptocurrency payments in Phuket, highlighting the evolving landscape of digital currency adoption.

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