Pakistan has proposed using excess energy for Bitcoin mining, marking a departure from its previous stance on cryptocurrencies. The plan was introduced by the newly-formed Crypto Council, led by CEO Bilal Bin Saqib, during its first meeting. Senior government officials support the initiative, which aims to establish Pakistan as a crypto hub by utilizing surplus energy, Coinfomania reported.

Meanwhile, Bitcoin’s price has shown bullish momentum. The BTCUSD H1 chart indicates a move towards a significant resistance level. A breakout may strengthen the upward trend and attract more intraday buyers.

Pakistan Legalizes Crypto, Aligns with Trends

This move represents a shift in policy. Previously, authorities maintained that cryptocurrency would not be legalized due to concerns about compliance with the Financial Action Task Force. However, on November 4, 2024, Pakistan changed its approach and began regulating digital assets as legal tender, aligning with global trends.

Trump’s Bitcoin Policies Influence Pakistan’s Shift

Some analysts believe this shift may have been influenced by recent policy changes in the United States. After his re-election, Donald Trump introduced measures supporting Bitcoin, including restrictions on a US Central Bank Digital Currency and the creation of a Bitcoin strategic reserve.

These actions have drawn international attention, with Pakistan’s new stance potentially reflecting broader global momentum in the cryptocurrency sector.

BTCUSD May Surge After Key Breakout

The BTCUSD H1 chart indicates that the price has been trending upward for some time. The 87470 level has proven significant, as the price previously faced rejection at this point. Currently, the cryptocurrency is trading around this level. Unless a bullish breakout occurs, it may prevent buyers from pushing further. A breakout at this level could fuel additional momentum, driving the price higher.

Meanwhile, DeepSeek AI has presented three possible scenarios for Bitcoin in 2025, as reported by Finance Magnates.

In the base case, Bitcoin is expected to range between $100,000 and $150,000. A more optimistic scenario sees it reaching $350,000, while a less likely black swan event could push it to $500,000. These projections are based on anticipated growth in institutional adoption and broader blockchain integration, though they involve significant uncertainty and volatility.

This article was written by Tareq Sikder at www.financemagnates.com.TrendingRead More

You might also be interested in reading Crypto Flipsider News – Post-Merge Crash; Gensler Attacks PoS; Voyager Auction; Celsius To Sell Stablecoins; Dogecoin Tops ETC.