Bitcoin (BTC) is struggling to build momentum and push beyond $105,000. The flagship cryptocurrency is up just over 0.50%, trading around $104,700 as markets wait for a catalyst to spark a bull run. A rally could push BTC beyond its all-time high, potentially past $110,000. El Salvador Amends Bitcoin Law El Salvador has amended its Bitcoin law to end mandatory BTC payments for merchants. The change is due to conditions set by the International Monetary Fund (IMF) for a $1.4 billion loan to improve the country’s economy. El Salvador was the first country in the world to give BTC legal tender status. The initiative was championed by the country’s president, Nayib Bukele. However, the move came under criticism after it made it mandatory for businesses to accept BTC . This was due to the asset’s volatility and a limited understanding of digital assets among the local population. The legislative change addresses these concerns by allowing local businesses to choose whether to accept BTC . The government has also agreed to no longer accept BTC for tax payments and reduce its involvement in Bitcoin-related activities, including the Chivo wallet app. The changes were crucial in securing the IMF loan to stabilize the country’s economy. Bitcoin (BTC) Won’t Be Included In EU Reserve Assets ECB President Christine Lagarde has said that BTC will not be included in the EU’s list of reserve assets. The comments come after US President Donald Trump announced plans to add BTC to the country’s reserves. Ales Michl, the governor of the Czech Republic’s central bank, had urged the ECB’s General Council to consider adding BTC to the country’s reserved assets. However, Lagarde dismissed the suggestions, stating, “I am confident that Bitcoins won't enter the reserves of any of the central banks of the General Council.” Lagarde added that assets that could be considered for addition to a country’s reserves must have liquidity and security. According to Lagarde, this ruled out Bitcoin. She added that BTC can also be used to facilitate money laundering and other illicit activities and cannot be viewed as a safe addition to the EU’s reserved assets. “I had a good conversation with my colleague from the Czech Republic, and I leave it to him to make whatever announcement he wants to make, but I'm confident that he's convinced, as we all are, of the necessity to have liquid, secure, and safe reserves.” USDT To Be Integrated Into Bitcoin Lightning Tether’s USDT stablecoin is being integrated into the Bitcoin Lightning Network. The partnership was announced by Tether CEO Paolo Ardoino and Lightning Labs CEO Elizabeth Stark at the Bitcoin-focused Plan B conference in San Salvador, El Salvador. CEO of Tether Paolo Ardoino stated, “By enabling USDt on the Lightning Network, we are not only reinforcing Bitcoin’s foundational principles of decentralization and security but also creating practical solutions for remittances, payments, and other financial applications that demand both speed and reliability.” According to Stark, the integration will allow merchants accepting BTC over the Lightning Network to add USDT as a payment option using the same infrastructure. “Today marks a new era for stablecoins. Bringing USDt to Bitcoin combines the security and decentralization of Bitcoin with the speed and scalability of Lightning. Millions of people will now be able to use the most open, secure blockchain to send dollars globally. It all comes back to Bitcoin.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) is hovering around $105,000 as markets await a decisive catalyst to influence price action. Markets have been sluggish thanks to uncertainty driven by President Donald Trump’s tariff threats and the Fed leaving interest rates unchanged. The US President has threatened to impose 100% tariffs on BRICS nations, adding that a 25% tariff against Canada and Mexico will go into effect on Saturday. Trump has also threatened to impose a 10% tariff on China. These developments could significantly disrupt global trade and have soured risk appetite. BTC has encountered significant volatility and bearish sentiment since the weekend but has recovered admirably over the past few sessions. Thursday saw BTC drop to an intraday low of $101,296 and rise to an intraday high of $106,903 before settling at $104,004. Buyers retained control on Friday as BTC rose to an intraday high of $107,038. However, it lost momentum after reaching this level and settled at $104,874, rising nearly 1%. However, sentiment changed over the weekend as BTC registered a marginal drop on Saturday before falling over 2% on Sunday to end the weekend at $102,655. Source: TradingView Selling pressure intensified on Monday as BTC plummeted to an intraday low of $97,766. The price recovered from this level to reclaim $100,000, ultimately settling at $102,064, registering a drop of 0.58%. Sellers retained control on Tuesday after thwarting an attempted recovery. As a result, BTC fell 0.69% and settled at $101,362. Buyers returned to the market on Wednesday, preventing a drop below $100,000. As a result, BTC registered an increase of 2.27% and settled at $103,666. BTC surged to an intraday high of $106,332 on Thursday but lost momentum after reaching this level, falling to $104,559. The current session sees BTC marginally up as buyers look to decisively push the price above $105,000. BTC is facing resistance around $106,000. A break above this level could send it to a new all-time high. However, if BTC fails to push above $105,000, it could indicate bulls are exhausted. As such, BTC could slip below $100,000 and drop as low as $90,000. The RSI is above the neutral zone, indicating a slight advantage to the bulls. The MACD has also flipped to bullish indicating we could see an uptrend. 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.
