El Salvador has quietly accumulated an additional 240 BTC since securing a $1.4 billion loan agreement with the IMF in December 2024 — despite the deal officially prohibiting further Bitcoin purchases. Exploiting certain loopholes, the country has managed to increase its holdings to a total of 6,209 BTC.
President Bukele’s “one Bitcoin per day” strategy continues, although it’s being executed outside of official government accounts. While crypto inflows to El Salvador fell by 44.5% year-over-year in Q1 2025, the government’s steadfast commitment to Bitcoin sends a clear message to global markets: BTC adoption is far from dead — at least in some corners of the world.
For investors, this underscores a clear divergence between top-down political constraints and ongoing grassroots accumulation — a dynamic that strengthens long-term confidence in Bitcoin’s global adoption trajectory.
Miners Strengthen U.S. Market Control; BTC Supported
According to JPMorgan, U.S.-listed Bitcoin miners now command 31.5% of the global hashrate — the highest share ever recorded. Leading the surge are Riot Platforms, Hive Technologies, and CleanSpark, which together have posted a 99% year-over-year increase in hashrate capacity. In comparison, overall network growth for the same period was 55%.
Despite a slight decline in hash price, miner valuations have climbed by $2.4 billion so far this year — with Riot Platforms contributing 20% of that increase. This trend highlights the growing consolidation of institutional mining infrastructure in North America and reinforces the view that Bitcoin is evolving into a fully established asset class.
Bitcoin Technical Outlook: Bulls Lose Grip at $108,950
Bitcoin is currently trading at $106,647, down 0.52% for the day. On the 1-hour chart, BTC is pulling back after hitting resistance near $108,951 within a symmetrical triangle pattern.
The long upper wick on the rejection candle, along with a bearish MACD crossover, suggests diminishing upward momentum.
Support levels for Bitcoin are currently at the 50-period EMA ($106,656) and horizontal zones around $106,196 and $104,633. A decisive break below these could open the door for a further decline toward $103,132.
Key Levels to Watch:
- Resistance: $108,951, $110,406
- Support: $106,196, $104,633, $103,132
Trade Setup:
- Bullish: Consider going long if BTC recovers above $109,000 with strong volume.
- Bearish: Consider shorting on a breakdown below $106,196, targeting the $104,633 level.
Despite positive macroeconomic news, Bitcoin’s price remains range-bound, keeping the outlook neutral for now. Patience and careful execution are essential.
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