Bitcoin is trading at $104,434, down 0.55% over the last 24 hours, with a trading volume topping $43 billion. This follows a wave of bold announcements—and abrupt clarifications—coming from Pakistan’s top officials.
Bilal Bin Saqib, a special assistant to the Prime Minister, revealed plans at Bitcoin Vegas 2025 to create a national Bitcoin reserve and state-backed wallet. The initiative aimed to repurpose 2,000 megawatts of excess electricity for AI data centers and Bitcoin mining—a bold play to attract global investors.
But celebrations were short-lived. Just days later, Pakistan’s Finance Secretary Imdadullah Bosal denied any official shift in crypto policy. He emphasized that cryptocurrencies remain illegal unless formally approved by the government.
This contradiction has caused confusion, especially as Pakistan’s newly formed Digital Assets Authority aims to align policies with global standards, including FATF compliance.
While Saqib’s proposal sparked enthusiasm, critics—especially from the IMF—flagged concerns about energy use and financial risks. In the short term, mixed signals from the government have sparked both optimism and skepticism. However, Pakistan’s steps toward structured regulation point to longer-term opportunities for Bitcoin’s integration.
Czech Minister Resigns Over $45M Bitcoin Scandal
The crypto world was rocked when Czech Justice Minister Pavel Blazek stepped down after it emerged that his ministry sold nearly $45 million in Bitcoin, donated by convicted drug trafficker Tomas Jirikovsky.
Intended to fund prison projects and digital justice reforms, the funds were accepted without proper vetting, under the assumption that Jirikovsky was trying to make amends.
When it was revealed that the Bitcoin originated from the notorious dark web platform, Sheep Marketplace, public outrage erupted. Despite impending elections, Blazek resigned, and an investigation is now underway.
Although this scandal has dampened sentiment, the Czech Republic’s broader move to align with the EU’s MiCA framework might restore investor confidence in the long run.
South Korea’s Crypto Industry Could Win Big, Regardless of Election Outcome
In South Korea, more than 18 million people actively participate in crypto markets. With the June 3 snap presidential election approaching, both frontrunners—Lee Jae-myung and Kim Moon-soo—have pledged support for crypto-friendly policies.
Lee’s proposals include legalizing spot Bitcoin ETFs, introducing a won-backed stablecoin, and allowing the national pension fund to invest in crypto.
Kim has similarly championed ETF approval and regulatory easing. This rare bipartisan alignment reflects growing public demand and positions South Korea as a crypto hub in the making.
Regardless of who wins, legal clarity and institutional support could drive long-term adoption and fuel Bitcoin’s price growth.
Bitcoin Technical Outlook: A Breakout to $109K or Reversal?
On the charts, Bitcoin is navigating a descending wedge pattern on the 2-hour timeframe—a setup that often precedes a bullish reversal. Resistance looms at $105,352, aligning with the 38.2% Fibonacci retracement and the 50-period EMA.
Candlestick patterns near $104,514 (23.6% Fibonacci) suggest market indecision, with the MACD histogram narrowing and signal lines converging—signs of waning bearish momentum.
If Bitcoin breaks decisively above $105,352 with solid volume, it could climb toward $106,719 (61.8% Fibonacci) and even target $109,000 in the coming sessions. However, failure to break through could send prices back toward $103,149 or even $101,275.
Long Setup: Buy on a confirmed breakout above $105,352, target $106,719–$109K, stop below $104,514. Short Setup: Enter on rejection at $105,352, target $103,149–$101,275, stop above $105,500.Patience is essential—wait for clear price action and volume confirmation before making your move.
Best Wallet ($BEST): Redefining Crypto Storage and Access
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