Latest Situation of Bitcoin (May 31, 2025)
Today, May 31, 2025, Bitcoin (,$BTC $BTC
BTC
103,660.07
-1.47%
) has seen significant volatility in price. As of 10:00 AM UTC, Bitcoin's price was around $98,500, indicating a 3.2% decrease over the last 24 hours. On the same day, the price fell below the important support level of $92,000, reaching $89,500.
📉 Reasons for Market Decline
A major reason for the recent decline in Bitcoin's price is the risk of the "Death Cross," which is considered a bearish signal. Additionally, the CME gap at $103,994 is also creating uncertainty in the market, as historically such gaps affect prices.
🇵🇰 Significant Progress in Pakistan's Crypto Policy
Pakistan has recently announced its first official "Strategic Bitcoin Reserve," aimed at giving the country a significant position in the crypto economy. Additionally, the government has allocated 2,000 megawatts of extra electricity for Bitcoin mining and AI data centers.
🇺🇸 Official Status of Bitcoin in the United States
The United States has also established a "Strategic Bitcoin Reserve," under which the government has recognized Bitcoin as a national reserve asset. This move further elevates Bitcoin's importance in the global financial system.
🔮 Future Predictions
Experts say that if Bitcoin crosses the psychological barrier of $100,000, the price could reach $112,000. However, if the market continues to decline, the price could drop to $97,000.
📝 Despite the recent volatility in Bitcoin's price, its global acceptance is increasing. The official recognition of Bitcoin by countries like Pakistan and the United States highlights its importance. However, investors need to remain cautious due to market uncertainty.
