IMF raises concern over Pakistan’s Bitcoin mining power plan $BTC $ETH
The International Monetary Fund (IMF) has raised concerns over Pakistan’s decision to allocate 2,000 megawatts of electricity for Bitcoin mining and artificial intelligence data centers amid ongoing negotiations tied to the country’s extended financial program.
The initiative, announced last week, is designed to attract autonomous miners, blockchain companies, and AI firms to Pakistan.
However, the IMF has raised red flags about the move, requesting urgent clarification from the Finance Ministry regarding the legality of crypto mining and the power allocations, particularly as the nation struggles with chronic energy shortages and fiscal pressures, according to a report by local news outlets Samaa.
Per the report, the IMF was not consulted prior to the announcement and is questioning the legal standing of cryptocurrencies in Pakistan. The Fund has also voiced concerns over potential impacts on power tariffs and resource distribution.
“There is a fear of further tough talks from the IMF on this initiative,” an official involved in the ongoing negotiations reportedly said. “The economic team is already facing stiff questions, and this move has only added to the complexities of the talks”
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After some reflection, the intention behind Bitcoin’s push to break new highs is becoming more apparent. I looked into the liquidity liquidation data and the spot vs. futures premium chart, and things are starting to make more sense.
1. Last night, right after $BTC broke a new high, aggressive short-sellers piled into high-leverage contracts. The liquidation clusters were stacked just above that level.
2. The spot premium dropped while the price surged clear evidence that futures are leading the charge.
In short, this morning’s pump looks like a calculated move to wipe out those high-leverage shorts from last night.
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Bitcoin hovered near $95,000 amid market consolidation and anticipation of key US economic data. ETF inflows and rising dominance signal strong demand. Ethereum and altcoins remained range-bound. Experts foresee a breakout if momentum sustains, possibly pushing Bitcoin past $100,000. Crypto adoption also grows with Trump Tower Dubai accepting digital payments $BTC