8 days ago
Bitcoin price started a fresh decline below the $80,000 zone. BTC is now correcting losses and might face resistance near the $80,500 zone. Bitcoin started a fresh decline below the $80,000 zone. The price is trading below $81,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $80,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $81,500 zone. Bitcoin Price Starts Recovery Bitcoin price started a fresh decline below the $82,000 and $81,200 levels. BTC traded below the $80,500 and $80,000 levels to enter a bearish zone . The price even dived below the $78,000 support zone. A low was formed at $74,409 and the price started a recovery wave. There was a move above the $76,800 level. The price climbed above the 50% Fib retracement level of the recent decline from the $83,680 swing high to the $74,409 low. However, the price is struggling to continue higher. Bitcoin price is now trading below $81,200 and the 100 hourly Simple moving average . On the upside, immediate resistance is near the $80,400 level. There is also a connecting bearish trend line forming with resistance at $80,400 on the hourly chart of the BTC/USD pair. The first key resistance is near the $81,500 level or the 76.4% Fib retracement level of the recent decline from the $83,680 swing high to the $74,409 low. The next key resistance could be $82,500. A close above the $82,500 resistance might send the price further higher. In the stated case, the price could rise and test the $83,500 resistance level. Any more gains might send the price toward the $85,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $80,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $79,500 level. The first major support is near the $78,000 level. The next support is now near the $76,500 zone. Any more losses might send the price toward the $75,000 support in the near term. The main support sits at $74,400. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $79,500, followed by $78,000. Major Resistance Levels – $80,500 and $81,500.
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Crypto Takes Off in Panama: City to Accept Bitcoin, Ethereum for Public Services
Panama City’s council is all set to accept cryptocurrency payments for taxes, fees, tickets, and permits. The decision, announced on April 16th, marks a significant step in Panama’s integration of digital currencies into everyday public services. The city will initially accept major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), as well as stablecoins like USD Coin (USDC) and Tether (USDT). Unlike past efforts where attempts to push similar legislation failed in the Senate, the city found a creative solution to bypass the need for new laws. According to the official announcement by Mayor Mayer Mizrachi Matalon on X, public institutions are required to receive funds in US dollars. However, by partnering with a local bank, Panama City will handle crypto transactions by converting the payments into dollars on the spot. This partnership ensures that cryptocurrency can flow freely within the economy and government while maintaining legal compliance, Mizrachi added. “Panama City council has just voted in favor of becoming the first public institution of government to accept payments in crypto.” This latest development comes on the heels of a proposed regulatory framework for cryptocurrencies, unveiled by Panama’s government earlier this year. The draft bill aims to regulate digital assets and create a legal structure for blockchain-based services, positioning Panama as a leader in fintech innovation in Latin America. Besides cryptocurrencies like Bitcoin and Ethereum being officially recognized for transactions, the framework also introduces licensing requirements for Virtual Asset Service Providers (VASPs), such as exchanges and wallets, and enforces strict compliance with anti-money laundering (AML) and Know-Your-Customer (KYC) regulations. The post Crypto Takes Off in Panama: City to Accept Bitcoin, Ethereum for Public Services appeared first on CryptoPotato . NewsBTC
POWELL: ECONOMIC GROWTH EXPECTED TO HAVE SLOWED IN Q1 2025 COMPARED TO LAST YEAR’S STRONG PACE
POWELL: ECONOMIC GROWTH EXPECTED TO HAVE SLOWED IN Q1 2025 COMPARED TO LAST YEAR’S STRONG PACE NewsBTC
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S&P 500 Extends Losses to 3%, NASDAQ 100 Drops 4.2%
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