$BTC Bitcoin: Recent Updates and Market Trends
Bitcoin (BTC) is currently trading around $104,380, experiencing slight volatility due to key global developments.
Key Updates:
El Salvador Revokes Bitcoin's Legal Tender Status: After nearly two years, El Salvador has removed Bitcoin's official currency status due to pressure from the IMF and low public adoption. Despite significant government investment, only 8.1% of the population actively used Bitcoin.
Bitcoin Rises Despite Fed’s Interest Rate Decision: BTC gained 2.7%, reaching $105,253, as investors remained optimistic despite the Federal Reserve maintaining high interest rates. Historically, higher interest rates negatively impact crypto prices, but optimism about the U.S. becoming a crypto hub has supported Bitcoin’s growth.
European Central Bank Excludes Bitcoin from Reserves: The ECB has reiterated that Bitcoin will not be included in its reserves due to concerns over liquidity, security, and volatility. Meanwhile, the bank has reduced interest rates to support economic growth in the eurozone.
Bitcoin’s price remains influenced by regulatory decisions and macroeconomic trends, making 2025 a critical year for its market performance.
