Here’s what happened in crypto today
Today in crypto, crypto social media activity suggests potentially more downside ahead for the market, Eric Trump predicts $1M BTC. Meanwhile, a former BJP legislator and 11 police officials have been convicted for the 2018 abduction of a Surat businessman in a plot to seize over 750 Bitcoin. Crypto ‘buy the dip’ calls are spiking, which may signal more downsideThe rising number of “buy the dip” calls following Bitcoin’s 5% drop over the past week could signal more downside ahead for the crypto market, according to sentiment platform Santiment.“Clearly, overall, in the markets, people are getting antsy and trying to find some entry spots now that prices have cooled down a bit,” Santiment analyst Brian Quinlivan said in a video published on YouTube on Saturday.Santiment said in a separate report published on the same day that social media mentions of “buy the dip” have increased significantly amid the crypto market downturn, which may be a warning sign for the market.“Don’t interpret ‘buy the dip’ chatter as a definitive bottom signal. A true market floor often coincides with widespread fear and a lack of interest in buying,” Santiment said.Eric Trump says “no question” BTC is going to $1 millionAmerican Bitcoin (ABTC) co-founder Eric Trump took the stage at the Bitcoin Asia 2025 conference in Hong Kong and told the audience that Bitcoin is going to hit $1 million in the next several years.“There's no question that Bitcoin hits $1 million,” Trump told the audience on Friday. Trump said that more savvy financial investors, including institutions, sovereign funds, and wealthy families, are all buying BTC. He added: “You've got nation states that are buying the hell out of Bitcoin. You've got Fortune 500 companies that are buying the hell out of Bitcoin. You've got the biggest families, you've got the biggest companies on Earth that believe in this digital store of value. Everybody wants Bitcoin. Everybody is buying Bitcoin.”The price of Bitcoin continues to be debated among investors, industry executives, and analysts, with several analysts also calling for seven-digit BTC prices due to ongoing fiat currency inflation worldwide.Indian court sentences 14 to life in Bitcoin extortion caseAn Indian anti-corruption court has sentenced 14 individuals, including 11 police officials and a former Bharatiya Janata Party (BJP) Member of Legislative Assembly (MLA), to life imprisonment in a case involving the kidnapping and extortion of crypto from a Surat-based businessman in 2018.The judgment, delivered by Special Judge B.B. Jadav in Ahmedabad on Friday, found the group guilty of criminal conspiracy, kidnapping for ransom, illegal detention, and assault, according to a report by The Times of India.Among those convicted are former Amreli district superintendent of police Jagdish Patel and ex-MLA Nalin Kotadiya. All 11 police officers, including former IPS officer Patel, were also found guilty under the Prevention of Corruption Act for misconduct by public servants.The case centers around businessman Shailesh Bhatt, who had reportedly recovered a portion of his lost investment from BitConnect developer Dhaval Mavani in the form of Bitcoin (BTC), after the $900 million company he invested in shut down.