UK Says No to Bitcoin Reserve, Yet Stage Set for New Highs After April Surge
By: crypto news australia|2025/05/07 14:00:07
0
Share
The UK rejects Bitcoin reserves while New Hampshire and the Trump administration embrace this approach, with countries like Czech Republic and Kyrgyzstan exploring similar options.Despite rejecting crypto reserves, the United Kingdom remains interested in tokenisation and DLT, while Japan, South Korea and Switzerland have also declined Bitcoin reserves.After a strong April, Bitcoin prices could reverse their correction according to Bitfinex analysts, having fallen from January’s all-time high to below US$75k.Bitcoin’s ability to hold above US$95k – the lower boundary of its former range – while trading at US$96,553 could signal a move back toward all-time highs despite macroeconomic turbulence.Despite a global push toward including crypto – or at the very least Bitcoin – into state coffers, the United Kingdom is going a different way. Across the pond, the view is that Bitcoin & Co. are not “appropriate” for the Brits, with Emma Reynolds, Economic Secretary to the Treasury, saying there are no plans for a Bitcoin reserve – unlike New Hampshire, which has recently adopted one: We don’t think that’s appropriate for our market. We understand that’s what the US is going for, but that’s not the plan for us. Emma Reynolds, Economic Secretary to the UK Treasury Apart from New Hampshire on the state level, there’s of course also Trump’s executive order on a Bitcoin and crypto reserve, while some countries, like the Czech Republic and Kyrgyzstan are also exploring their options.Nevertheless, Reynolds also said the UK is still very much interested in tokenisation and distributed ledger technology and is still cooperating on the regulatory front on digital assets. Japan, South Korea and Switzerland have recently rejected proposed Bitcoin reserves. Several US states have also rejected similar bills, often citing Trump’s increased involvement with the industry and concerns over corruption.Related: Bitcoin Reserve Bills Face Setbacks as Florida Joins Growing List of Rejecting StatesBitcoin Ready to Reverse Correction, Say AnalystsWhile this all may feel like a setback for the industry, it may not be that bad for Bitcoin and other cryptocurrencies after all. Bitfinex analysts wrote that following a strong April close, Bitcoin may be “reversing course after a steep early-month correction”.After setting a new all-time high (ATH) in January following bullish momentum with Trump’s return to office, things took a turn for the worse rather quickly. His trade wars caused global markets to enter a state of fear from which they’re only slowly beginning to recover.BTC then fell below the US$75k (US$115.6k) mark but has been steadily rising since. The oldest of all crypto coins now trades for US$96,553 (AU$148,903), a monthly increase of 24%.Bitcoin (BTC), monthly chart, source: CoinMarketCapReady to Make New All-Time Highs?The Bitfinex analysts added that the rally shows Bitcoin’s “resilience amid macroeconomic turbulence and shifting risk sentiment”.They also said Bitcoin’s ability to hold the current critical technical level could signal further upside: Reclaiming the $95,000 level—the lower boundary of its former three-month range—is now the key technical threshold. Holding this zone, especially as BTC consolidates above the short-term holder cost basis of $93,340, could lay the groundwork for a move back toward all-time highs. Bitfinex Read also: Crypto Chaos on Capitol Hill: Partisan Split Deepens Over Trump’s Digital Asset TiesThe post UK Says No to Bitcoin Reserve, Yet Stage Set for New Highs After April Surge appeared first on Crypto News Australia.
You may also like

Interpreting the Anthropic vs. War Department Conflict: What Does Trump Intend to Do?
In the coming decades, our freedom may be more fragile than we think

Nasdaq Moves In, Predicts Market Has Reached Mainstream Inflection Point
Predictive trading is no longer just an experiment in the crypto space or a niche market but is starting to be integrated into the product suite of traditional trading platforms.

After a 48-hour ban, Claude reached the top of the App Store
Just the day before, ChatGPT was sitting right there

If this is the beginning of the triple halving, what are top investors saying about what to expect?
Hormuz Strait Blockade, Capital War, Oil and Bitcoin

After Iran's Political Risk Rises, Cryptocurrency Sees Massive Outflow
Following the airstrike, within minutes, Iran's largest cryptocurrency exchange, Nobitex, saw a 700% surge in cryptocurrency outflows.

Pantera Capital Partner: The Financial Trajectory of AI Agents
AI agents will move towards fully autonomous commerce, and blockchain is the only digital-native financial track that meets its needs for identity, micropayments, and trustless execution.

In the next 5 years, Vitalik will scale Ethereum like this
Short-Term vs Long-Term, Execution, Data vs State

Sam Altman and the End of the World Capitalism
The real danger is never AI itself, but those who believe they have the right to define the human destiny.

Wall Street Rings Inflation Alarm Bells Amid Iran Tensions, What Does It Mean for Cryptocurrency?
Interest rates have remained stubbornly high, posing a challenge to the cryptocurrency bull case.

Qwen Open Source Model Enters Mobile, Nasdaq Tests Water Prediction Market, What's the Overseas Crypto Community Talking About Today?
What Was the Hottest Topic Among Expats in the Last 24 Hours?

MegaETH Co-founder: 48 Hours After Escaping Dubai, I Reassess the Entire Crypto Scene
The global environment is not favorable to us, but in the long run, it may be favorable to us.

Morning Report | Strategy increased its holdings by 3,015 bitcoins last week; BitMine increased its holdings by 50,928 ETH last week; Vitalik elaborated on the Ethereum execution layer roadmap
March 2 Market Key Events Overview

Why is it said that there are structural opportunities in encrypted AI?
When centralized AI falls into the dilemma of regulation and trust, Crypto + AI will become a structural escape route for safeguarding data and sovereignty in a multipolar world.

Make Probability an Asset: A Forward-Looking Perspective on Predictive Market Agents
The predictive market agents are expected to present early prototypes in early 2026, likely becoming an emerging product form in the field of agents in the following year.

Consumer application issues
The truly outstanding applications will not ask people to "use cryptocurrency," but will provide practical and better solutions to the problems that people already face.

Arthur Hayes: The flames of war in the Middle East rise, Bitcoin is bullish
War is often accompanied by monetary easing, which may also become an important backdrop for driving up risk assets like Bitcoin.

Legendary investor Naval: In the AI era, traditional software engineers have no value?
You can always find a perfect niche that fits you and become a leader in that field.

More absurd than knowing about the war in advance is knowing in advance about the assassination of Soleimani
The temptation of a million dollars cannot be stopped by the calamity of prison.
Interpreting the Anthropic vs. War Department Conflict: What Does Trump Intend to Do?
In the coming decades, our freedom may be more fragile than we think
Nasdaq Moves In, Predicts Market Has Reached Mainstream Inflection Point
Predictive trading is no longer just an experiment in the crypto space or a niche market but is starting to be integrated into the product suite of traditional trading platforms.
After a 48-hour ban, Claude reached the top of the App Store
Just the day before, ChatGPT was sitting right there
If this is the beginning of the triple halving, what are top investors saying about what to expect?
Hormuz Strait Blockade, Capital War, Oil and Bitcoin
After Iran's Political Risk Rises, Cryptocurrency Sees Massive Outflow
Following the airstrike, within minutes, Iran's largest cryptocurrency exchange, Nobitex, saw a 700% surge in cryptocurrency outflows.
Pantera Capital Partner: The Financial Trajectory of AI Agents
AI agents will move towards fully autonomous commerce, and blockchain is the only digital-native financial track that meets its needs for identity, micropayments, and trustless execution.