Bitcoin Price Hits $106K as NYC Plans $552M BitBond Launch and Forecasts $250K

Bitcoin (BTC) is hovering around $106,124, down 1.36% in the past 24 hours, with a hefty $57.7 billion in trading volume. But that hasn’t dampened the excitement coming out of New York City, where Mayor Eric Adams unveiled a groundbreaking initiative: BitBonds—the world’s first municipal bonds backed by Bitcoin.

Speaking at the Bitcoin 2025 Conference in Las Vegas, Adams shared his vision of using BitBonds to attract crypto-savvy investors.

Unlike traditional bonds secured by fiat currency, BitBonds will be backed by Bitcoin, offering potential returns tied directly to BTC’s performance. It’s still unclear if interest payments will be in Bitcoin or fiat, but the move signals a growing embrace of digital assets in mainstream finance.

• $552 million worth of BitBonds announced
• BTC-backed bonds mark a new era in municipal finance
• Investors can leverage Bitcoin to fund NYC projects

Navigating Regulation as NYC Bets on Crypto

Of course, this bold move isn’t without challenges. New York’s tough BitLicense rules could complicate the rollout, with critics arguing that such regulations stifle innovation. Adams, however, is pushing for more flexible policies to support crypto adoption.

To make this happen, he’s set up a Crypto Council to guide digital asset strategies and position NYC as a global hub for crypto innovation.

On the national front, crypto momentum is building. President Donald Trump’s recent executive order established a U.S. Strategic Bitcoin Reserve, acquiring about 200,000 BTC to promote government-driven Bitcoin adoption. This aligns perfectly with NYC’s local efforts, reinforcing the state’s ambition to lead in crypto finance.

• Crypto Council shaping NYC’s digital asset future
• Trump’s Strategic Bitcoin Reserve adds national momentum
• NYC aims to become a global crypto finance leader

Bitcoin (BTC/USD) Technical Picture: A Path to $250K?

On the technical front, Bitcoin price prediction seems bearish as BTC has dropped below the 61.8% Fibo area. At the moment, Bitcoin is testing the $106,100 zone after slipping from $107,000.

The chart shows a broadening wedge pattern with a break below support, while the 50-EMA at $107,882 now acts as resistance. The MACD indicates a deepening bearish trend, and candlestick patterns reflect market indecision.

However, the Optimized Trend Tracker (OTT), a favorite among macro traders, has triggered a bullish breakout signal. According to Stockmoney Lizards, Bitcoin’s price could reach $180K–$200K by the end of 2025, with a stretch target of $250K by 2026.

• OTT signals Bitcoin is primed for a major leg up
• $180K–$200K target for 2025, $250K extension possible
• BTC price action hinges on a recovery above $107,900 or risks further drops below $106,000

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