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

Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to give up their identity to use an AI tool.

On the eve of the explosion of on-chain options
Options are becoming a new anchor in the cryptocurrency market.

WEEX AI Hackathon: How Did This AI Trading Winner Succeed?
A self-taught AI trading enthusiast achieved top-10 results at the WEEX AI Hackathon. Learn about the mindset, AI tools, and lessons behind this impressive performance.

One Balance to Rule Them All: Gravitas' On-Chain Prime Broker Ambition
Forty years ago, a technological revolution broke the isolation of information, reshaping Wall Street. Forty years later, Grvt aims to break the isolation of capital with an on-chain prime brokerage model.

That person who cashed out at the NFT peak is now selling a new shovel in the OpenClaw craze
A skilled person never picks the table, they eat meat with every bite.

Inter-generational Prisoner's Dilemma Resolution: The Nomadic Capital and Bitcoin's Inevitable Path
When the Baby Boomer generation collectively sells off, who will be the "bag holder" in the next asset crash?

Upstream and downstream are starting to fight, all for the sake of everyone being able to "Lobster"
「Lobster」 may not be a mature product yet, but it has already ushered in a new era of 「AI Assistants」.

Circle and Mastercard Announce Partnership, the Next Stage for the Crypto Industry Belongs to Payments
Stablecoins are transitioning from a speculative tool to real financial scenarios such as payments, cross-border transfers, and store of value.

From 5 Mao per kWh of Chinese electricity to a $45 API export: Tokens are rewriting currency units
When the same unit can both measure hashing power and facilitate payments, it ceases to be just a term and begins to evolve into a new currency of both value and influence.

Why is OpenAI playing catch-up to Claude Code instead?
Anthropic Bets Earlier on AI Programming, OpenAI Strategic Tempo Misaligned

Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to sacrifice their identity to use an AI tool.

The doubling of Circle's stock price and the paradigm shift of stablecoins
The initial investments from Circle and Stripe, whether it is the R&D expenses for Arc, the high financing costs associated with Tempo, or the billion-dollar acquisitions of Bridge-type assets, are more akin to "placement fees" rather than commercially recoverable investments in the short term.

Key Market Information Discrepancy on March 13th - A Must-See! | Alpha Morning Report
1. Top News: Latest Developments in US-Iran Conflict, Son of Soleimani Vows Revenge, US Navy Plans to Escort Ships in the Strait of Hormuz
2. Token Unlock: $HTM

On-Chain Options Explosion.ActionEvent
Options are becoming the new anchor in the cryptocurrency market.

《Time》 Magazine Names Anthropic as the World's Most Disruptive Company
The most AI-wary company has created the most dangerous AI

Predictions market gains mainstream traction in the US, Canada, Claude launches Chart Interaction feature, What's the English community talking about today?
What Did Foreigners Care About Most in the Last 24 Hours?

500 Million Dollars, 12 Seconds to Zero: How an Aave Transaction Fed Ethereum's "Dark Forest" Food Chain
Spend $154,000 to buy AAVE at market price of only $111

AI Agent needs Crypto, not Crypto needs AI
It is not Crypto that needs AI to survive, but rather AI Agents that need Crypto to be implemented: when AI truly shifts from "thinking" to "executing," it must seek the boundaries of authority and funding within the programmable primitives of Crypto.
Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to give up their identity to use an AI tool.
On the eve of the explosion of on-chain options
Options are becoming a new anchor in the cryptocurrency market.
WEEX AI Hackathon: How Did This AI Trading Winner Succeed?
A self-taught AI trading enthusiast achieved top-10 results at the WEEX AI Hackathon. Learn about the mindset, AI tools, and lessons behind this impressive performance.
One Balance to Rule Them All: Gravitas' On-Chain Prime Broker Ambition
Forty years ago, a technological revolution broke the isolation of information, reshaping Wall Street. Forty years later, Grvt aims to break the isolation of capital with an on-chain prime brokerage model.
That person who cashed out at the NFT peak is now selling a new shovel in the OpenClaw craze
A skilled person never picks the table, they eat meat with every bite.
Inter-generational Prisoner's Dilemma Resolution: The Nomadic Capital and Bitcoin's Inevitable Path
When the Baby Boomer generation collectively sells off, who will be the "bag holder" in the next asset crash?