CryptoMediaClub
Tuesday, June 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Bitcoin Price Holds Steady Near $98,000 as Russia Embraces BTC for Trade and MicroStrategy Expands Holdings

26.12.2024
A A
0
119
VIEWS
ShareShare

Bitcoin is increasingly gaining traction as a tool for international trade in Russia. Finance Minister Anton Siluanov revealed that the country is using Bitcoin and digital financial assets (DFAs) under an experimental legal framework.

These developments come as Russia looks to mitigate reliance on traditional currencies amid geopolitical shifts. Siluanov emphasized Bitcoin’s role in “creative settlements,” positioning it as a viable alternative to the US dollar.

According to Reuters, Russia's finance minister said on Wednesday that Russian legislation has changed to allow companies to use Bitcoin and other digital currencies in international payments and take steps to legalize the mining of cryptocurrencies including Bitcoin.…

— Wu Blockchain (@WuBlockchain) December 25, 2024

This adoption follows Russia’s plans to expand domestic Bitcoin mining and increase its use in sovereign-level transactions throughout 2024.

While Siluanov cautioned against cryptocurrency investments due to their speculative nature, the integration of Bitcoin into international trade bolsters its utility and demand. This strategic move is expected to positively influence Bitcoin prices, particularly as geopolitical uncertainties persist.

MicroStrategy Fuels Bitcoin Rally with Aggressive Accumulation

MicroStrategy, already renowned as a key institutional player in Bitcoin investment, announced plans to issue additional shares to expand its cryptocurrency holdings. This follows its purchase of $561 million worth of Bitcoin, marking its seventh consecutive acquisition week.

Currently trading at $98,117, Bitcoin saw a slight bump of 0.32% following the announcement, showcasing the market’s bullish sentiment.

Bitcoin rose on Thursday after the digital asset’s stockpiler MicroStrategy announced a plan to issue more shares, a move that would allow it to buy even more tokens https://t.co/KOz4tc4d28

— Bloomberg Crypto (@crypto) December 26, 2024

MicroStrategy’s total Bitcoin holdings reinforce institutional confidence in digital assets, providing a layer of stability amid market volatility.

With Bitcoin’s annual growth surpassing 135%, outperforming traditional assets like gold and global equities, institutional purchases like these are likely to sustain long-term price momentum.

Ripple’s RLUSD Stablecoin Promotes Blockchain Adoption

Ripple introduced the RLUSD stablecoin on Singapore’s Independent Reserve exchange, marking its debut in the region. The stablecoin, pegged 1:1 to the US dollar, aims to streamline cross-border transactions and enhance decentralized finance (DeFi) applications.

Supported by USD reserves under strict New York financial regulations, RLUSD integrates with Ethereum and XRP Ledger networks.

While primarily focused on stablecoins, Ripple’s innovation indirectly boosts the broader cryptocurrency ecosystem, including Bitcoin, by fostering institutional and retail interest in blockchain-based financial solutions.

Bitcoin Technical Outlook: Consolidation with Bullish Potential

Bitcoin is stabilizing after completing a 50% Fibonacci retracement from its recent low of $92,126 to its high of $108,400. Trading at $98,117, Bitcoin faces immediate resistance at $102,207. A breakout could target subsequent resistance levels at $104,954 and $108,400.

Conversely, failure to hold the $100,293 pivot may lead to a pullback toward $95,717, with further downside risk at $92,139.

Technical indicators suggest neutral to bullish momentum. The Relative Strength Index (RSI) at 57.39 signals moderate buying interest, while the 50-day Exponential Moving Average (EMA) at $97,427 offers robust support. Traders should watch for a decisive move above $102,207 to confirm an upward trend.

Key Takeaways:

  • Russia’s Bitcoin adoption for trade highlights its growing utility in global transactions.
  • MicroStrategy’s continued accumulation reinforces institutional confidence and long-term price support.
  • Ripple’s RLUSD stablecoin launch expands blockchain adoption, indirectly supporting Bitcoin’s ecosystem.

Bitcoin’s broader integration across trade, institutional holdings, and blockchain innovations underscores its position as a transformative global asset.

–

You might also like Bitcoin Price Prediction 2024 – 2034

Bitcoin Stays Steady, but SOLX Presale Catches Attention

While Bitcoin’s price has remained relatively stable, there’s an emerging opportunity that has captured the attention of investors. Solaxy’s native token, $SOLX, has seen a remarkable presale success, raising over $5.34 million in a short period. This layer-two solution for the Solana blockchain promises to solve scalability issues by providing zero congestion, errors, and delays — addressing the ongoing congestion Solana has faced.

As interest grows in meme coins and the Solana ecosystem, Solaxy’s innovative solution could offer the scalability needed for the network’s future growth. With the presale ending soon, the strong capital raise suggests substantial demand for $SOLX once it hits decentralized exchanges (DEXs).

n addition to the excitement around the presale, the early success of Solaxy could also lead to potential listings on major centralized exchanges (CEXs), further boosting its prospects.

To purchase $SOLX, simply visit the Solaxy website, connect your wallet, and make a purchase using ETH, USDT, or BNB. Alternatively, you can pay with a bank card.

The post Bitcoin Price Holds Steady Near $98,000 as Russia Embraces BTC for Trade and MicroStrategy Expands Holdings appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

Russian Investigators ‘Seized $8.2M Worth of Crypto from Hydra Darknet Server Chief’
All news

Russian Investigators ‘Seized $8.2M Worth of Crypto from Hydra Darknet Server Chief’

03.06.2025
0

Russian investigators confiscated crypto worth around 649 million rubles ($8.2 million) from the wallets of Dmitry Pavlov, the 35-year-old self-confessed...

Read moreDetails
Whale Signal or Exit? XRP Price Prediction After 44M Tokens Leave Exchange

Whale Signal or Exit? XRP Price Prediction After 44M Tokens Leave Exchange

03.06.2025
CertiK Says $302M Lost to Web3 Scams, Hacks, and Exploits in May

CertiK Says $302M Lost to Web3 Scams, Hacks, and Exploits in May

02.06.2025
Strategy Doubles Down on Crypto with $75M Purchase of 705 Bitcoin

Strategy Doubles Down on Crypto with $75M Purchase of 705 Bitcoin

02.06.2025
CAR to Tokenize 1,700 Hectares of State Land

CAR to Tokenize 1,700 Hectares of State Land

02.06.2025
Load More
Next Post
The 8 Worst Crypto Crimes of 2024

The 8 Worst Crypto Crimes of 2024

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

The Bitcoin Tug-of-War: U.S. Loses Grip as Asia Tightens Hold

The Bitcoin Tug-of-War: U.S. Loses Grip as Asia Tightens Hold

2 years ago
SEC Begins Review of NYSE Arca Proposal to Uplist Grayscale Digital Fund to ETP

SEC Begins Review of NYSE Arca Proposal to Uplist Grayscale Digital Fund to ETP

7 months ago
Denmark Plans to Introduce Tax on Unrealized Crypto Gains

Denmark Plans to Introduce Tax on Unrealized Crypto Gains

7 months ago
Shiba Inu Burns 17M Tokens – Could a Parabolic Rally Be Next?

Shiba Inu Burns 17M Tokens – Could a Parabolic Rally Be Next?

6 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

CertiK Says $302M Lost to Web3 Scams, Hacks, and Exploits in May

Bitcoin Correction: Is This the Opportunity for a Stunning New All-Time High?

Strategy Doubles Down on Crypto with $75M Purchase of 705 Bitcoin

Crypto Traders Make Urgent Shift to Short-Term Strategies Amid Market Uncertainty

CAR to Tokenize 1,700 Hectares of State Land

Czech Minister Steps Down, Opposition Calls for Govt to Resign Over $46M in BTC ‘Donated’ from Convicted Criminal

Trending

Bitcoin’s 8% correction flushed leverage but set stage for short term turbulence
Analysis

Bitcoin’s 8% correction flushed leverage but set stage for short term turbulence

03.06.2025
0

Bitcoin (BTC) dropped nearly 8% from its May 22 all-time high, near $112,000, ending a 50% climb...

Russian Investigators ‘Seized $8.2M Worth of Crypto from Hydra Darknet Server Chief’

Russian Investigators ‘Seized $8.2M Worth of Crypto from Hydra Darknet Server Chief’

03.06.2025
Whale Signal or Exit? XRP Price Prediction After 44M Tokens Leave Exchange

Whale Signal or Exit? XRP Price Prediction After 44M Tokens Leave Exchange

03.06.2025
CertiK Says $302M Lost to Web3 Scams, Hacks, and Exploits in May

CertiK Says $302M Lost to Web3 Scams, Hacks, and Exploits in May

02.06.2025
Bitcoin Correction: Is This the Opportunity for a Stunning New All-Time High?

Bitcoin Correction: Is This the Opportunity for a Stunning New All-Time High?

02.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz