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8 Jun 2026, 10:55
Chinese Court Recognizes Bitcoin as Property in Landmark 107 BTC Theft Ruling
BitcoinWorld Chinese Court Recognizes Bitcoin as Property in Landmark 107 BTC Theft Ruling A court in Qingdao, China, has ruled that Bitcoin qualifies as property under criminal law, handing down a 10-year prison sentence to a man convicted of stealing 107 Bitcoin from an acquaintance. The decision, reported by local legal sources, marks a significant development in how Chinese courts treat digital assets within the country’s strict legal framework. The Case: How 107 Bitcoin Were Stolen According to court documents, the victim sought help from the defendant, identified only by the surname Zhang, to cash out 117 Bitcoin in 2023. During the process, the victim set up a 12-word seed phrase for wallet recovery, which Zhang memorized. Zhang successfully recalled 11 of the 12 words and inferred the final one, granting him full access to the wallet. He then transferred and cashed out 107 Bitcoin, leaving the victim with a fraction of the original holdings. Prosecutors argued that Bitcoin constitutes ‘property’ under Chinese criminal law, making its unauthorized taking a criminal offense. The court accepted this argument, sentencing Zhang to 10 years and nine months in prison and imposing a fine of 100,000 yuan (approximately $14,700). Legal Implications for Cryptocurrency in China China has maintained a strict ban on cryptocurrency trading and mining since 2021, but this ruling clarifies that digital assets still carry legal weight in criminal proceedings. The decision does not reverse the trading ban, but it establishes that Bitcoin and similar assets can be legally protected as property, potentially opening the door for future theft and fraud cases to be prosecuted under existing property laws. Legal experts note that this ruling aligns with a broader trend in Chinese courts, which have previously recognized virtual currencies as property in civil cases, particularly in inheritance and contract disputes. However, this is one of the first high-profile criminal cases to apply the same logic. What This Means for Bitcoin Holders in China For individuals holding Bitcoin in China, the ruling provides a measure of legal recourse if their assets are stolen. However, the overall regulatory environment remains hostile to cryptocurrency trading, and holders must navigate a complex legal landscape where possession is tolerated but trading is banned. The case also serves as a cautionary tale about the risks of sharing seed phrases or recovery details, even with trusted acquaintances. Conclusion The Qingdao court’s decision reinforces the legal status of Bitcoin as property within China’s criminal justice system, offering a pathway for victims of cryptocurrency theft to seek justice. While the country’s ban on trading remains in effect, this ruling signals that digital assets are not beyond the reach of the law. The case is likely to influence future legal proceedings involving cryptocurrency in China and may prompt further clarification from higher courts. FAQs Q1: Does this ruling mean Bitcoin is legal in China? No. China still bans cryptocurrency trading and mining. This ruling only recognizes Bitcoin as property for the purpose of criminal prosecution, meaning theft of Bitcoin can be punished under property laws. Q2: Can I legally hold Bitcoin in China? Yes, individuals can hold Bitcoin as an asset, but trading, exchanging, or mining it is prohibited. The legal status remains ambiguous, and holders face risks of asset seizure or penalties if they engage in banned activities. Q3: What should I do if my cryptocurrency is stolen in China? This ruling suggests that victims can report theft to authorities and potentially pursue criminal charges. However, given the complexity of cryptocurrency cases and China’s regulatory stance, consulting a lawyer with expertise in digital asset law is strongly recommended. This post Chinese Court Recognizes Bitcoin as Property in Landmark 107 BTC Theft Ruling first appeared on BitcoinWorld .
8 Jun 2026, 10:44
Bitcoin Price Prediction: CME BTC Volatility Index Trading Frenzy
Bitcoin price clawed back ground, barely trading above $63,000 after a brutal weekend that saw the asset crash to $59,000 amid the current bearish prediction. It was the lowest print since Donald Trump’s 2024 election victory. However, there is a catalyst from the derivatives market, where CME’s newly launched Bitcoin Volatility Index futures are attracting institutional block trades. CME’s BVX benchmark just recorded its first block trades between DV Chain and Monarq Asset Management. CME launches bitcoin volatility futures; crypto faces macro headwinds CME Group launched bitcoin volatility index futures tied to the CME CF Bitcoin Volatility Index, allowing traders to speculate on four-week BTC price swings. Monarq and DV Chain executed first block trades.… pic.twitter.com/C1TAyswHFy — NewsTongue (@NewsTongueX) June 8, 2026 The market is also watching for Strategy’s SEC 8-K filing during US morning hours, which will confirm exactly how much the firm bought or sold over the past several days. Discover: The Best Crypto to Diversify Your Portfolio Bitcoin Price Prediction: $65,000? Volatility Expansion Brings More Pain? Bitcoin’s spot price sits in a technically no-man’s land. The $59,100 low established Friday now acts as the immediate support floor; a weekly close below that level would represent a clear structural breakdown and likely accelerate selling pressure toward the $55,000–$57,000 zone. The CME BVX framework is worth understanding here. Because BVX is derived from Bitcoin options and Micro Bitcoin options order book data , elevated readings signal that the market is pricing in larger future swings , not necessarily directional. Volume expansion, not a clean breakout. Bitcoin (BTC) 24h 7d 30d 1y All time If Strategy’s 8-K confirms aggressive BTC purchases, sentiment could flip. BTC could reconquer the $65,000 resistance and target the mid-$70,000s within two weeks. Or BTC consolidates between $61,000–$64,500 as the market digests the volatility product launch and awaits macro catalysts. But a daily close below $59,000 invalidates the recovery thesis and opens a retest of $55,000. The consensus leans cautiously bullish, but only if the $59,000 floor holds. The launch of CME volatility futures could amplify near-term price swings as institutions initiate hedges. High BVX = expect sharper moves in both directions. Discover: The Best Token Presales Bitcoin Hyper Targets Early-Mover Upside as Bitcoin Battles Rejections Here’s the uncomfortable reality for spot BTC holders: even a clean recovery to $65,000 from current levels represents just 3% upside. For traders absorbing 18% drawdowns in a week, that risk-reward looks thin. This is where early-stage infrastructure in the Bitcoin ecosystem starts drawing attention, particularly when they’re solving problems BTC itself cannot. Bitcoin Hyper ($HYPER) is positioning as the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, delivering sub-second finality and smart contract capability to an ecosystem historically locked out of DeFi by slow throughput and high fees. Bitcoin (BTC) 24h 7d 30d 1y All time The presale has raised more than $32 million at a current price of $0.01368 , with a Decentralized Canonical Bridge enabling native BTC transfers and staking rewards available at launch. The premise is direct: preserve Bitcoin’s security, eliminate its programmability ceiling. For those seeking asymmetric exposure to Bitcoin’s infrastructure layer while BTC itself grinds through a volatility regime, research Bitcoin Hyper here . The post Bitcoin Price Prediction: CME BTC Volatility Index Trading Frenzy appeared first on Cryptonews .
8 Jun 2026, 10:38
Ethereum faces renewed resistance as price dips again
🚀 Ethereum faces rejection near resistance and risks fresh drops. 📉 Sellers defended key levels, echoing a past sharp decline in $ETH. 🗓️ Analysts say higher targets remain if momentum shifts back up. Continue Reading: Ethereum faces renewed resistance as price dips again The post Ethereum faces renewed resistance as price dips again appeared first on COINTURK NEWS .
8 Jun 2026, 10:37
Gold Drops Below 200-Day Average as Bitcoin ETFs Bleed $1.72B, IBIT Hits Record Outflow
Bitcoin News Gold has slipped below its 200-day moving average for the first time since October 2023, dropping beneath $4,300 per ounce and tipping into a bear market . The metal has now shed more ...
8 Jun 2026, 10:37
106 Billion SHIB Out: Shiba Inu Returns to Bullish Zone as Sell Pressure Fades
Shiba Inu’s exchange flow has flipped bullish as onchain data shows that traders have bought more SHIB tokens than they have sold in the last 24 hours.
8 Jun 2026, 10:34
BTC Faces Fresh Dip as Middle East Tensions Flare Up: Geopolitical Risk Returns
A value of around $1.4 trillion was cut from the S&P 500 on Friday as tensions escalated between Israel and Iran. Over the weekend and into Monday morning an exchange of missiles has taken place. Bitcoin is unlikely to escape the prejudicial effects on U.S. stocks and therefore another dip back to $60K with possible lower lows could be waiting. Yet another bear flag forming Source: TradingView Since sweeping the low under $60K the $BTC price has staged somewhat of a recovery, rising 8.7%, which amounted to an increase of just over $5,000. However, it very much looks like yet another bear flag has formed , with its bottom at the recent low of $59,100. The oversold condition that enabled the bulls to enact this latest recovery has now dissipated, and it looks like this latest bear flag might play out. With renewed hostilities breaking out between Israel and Iran, the scene could be set for another leg down for Bitcoin, as sellers probably anticipate the next potential downward movement in the S&P 500. Potential drop to $49K? Source: TradingView The daily chart is spelling out the next possible move in this Bitcoin bear market, and it’s not a happy one for bulls. The full measured move out of this latest bear flag could take the $BTC price down to $49,000. This lines up with support at the bottom of the huge 8-month bull flag that occupied most of 2024. It was also support and resistance during the tops of the 2021 bull market. While still on the shallow side for a bear market bottom, compared with those in the past that measured 77% and more from top to bottom, this potential 61% bear market would be reasonably respectable. All this said, the RSI has already been down to a low that was last matched in the March 2020 Covid crash . Could it go even lower? If it did, this could bring bullish divergence into play - exactly what would be needed to initiate the new bull market. Could a retest of the bear market trendline be the bottom? Source: TradingView What really stands out in the weekly chart is how the bull market trendline and the 200-week simple moving average (SMA) have more or less followed the same trajectory since converging at the beginning of January 2024. This has become a very important support level to hold. Therefore, the recent dip just below the bull market trendline should be concerning to the bulls. A current rise back up to what could be a test and confirmation of the breakdown is also ominous. If this support fails, increased downward momentum could begin. What would then be very interesting to see is whether a retest of the bear market trendline would stop the slide ( as it did in the same circumstances when it became the bottom for the 2022 bear market ), or whether the $BTC price would drop through and go to $49K or even lower. The Stochastic RSI indicator lines are falling fast, signalling downward price momentum. Could they hit their bottom shortly after the market bottom, as happened in 2022? Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
