Bitcoin News: El Salvador’s Pro-Bitcoin President Bukele Set for White House Visit with Trump

In a move that could potentially signal a shift in the political landscape towards a more crypto-friendly stance, President Donald Trump has planned to host El Salvador’s President Nayib Bukele at the White House. This visit comes amidst Bukele’s proactive stance on Bitcoin and his country’s adoption of the digital currency as legal tender.

Trump Plans White House Visit for El Salvador’s Pro-Bitcoin Bukele

President Donald Trump is set to host El Salvador’s President Nayib Bukele at the White House in April. The visit follows Bukele’s agreement to detain hundreds of alleged Venezuelan gang members deported from the U.S., aligning with Trump’s immigration enforcement agenda. If finalized, Bukele will be the first leader from the Western Hemisphere to receive a formal White House visit under Trump’s administration. Bukele has actively courted Trump in recent months, positioning himself as a key regional ally on security and migration. Bukele has drawn international attention for his strict crime policies, particularly his crackdown on gang violence, which has significantly reduced crime rates in the country. Notably, Bukele has been a proponent of Bitcoin, making El Salvador the first country to adopt it as legal tender.

Peter Brandt Warns of Bitcoin Crash to $70K Amid Market Turmoil

Bitcoin is trading below $86,000 as market sentiment remains cautious ahead of key US inflation data. The price dropped over 1.4 percent today, with trading volume down by 2.4 percent to $25.8 billion. Bitcoin futures Open Interest fell by more than 1.5 percent, reducing traders’ risk appetite. Analysts noted mixed predictions, with bearish and bullish possibilities looming over the short term.

Bitcoin Short-Term High Still Red Despite New Whale Accumulations

The digital asset market has shown signs of a rebound in the last seven days, although headwinds still limit the recovery. The recent downturn crashed crypto prices and left lingering effects on new holders. At the time of writing, Bitcoin’s price rose 2.7% in the past seven days to $87,526. Despite trading below the $100k mark, previous data might favor a turnaround with whale accumulations. A new CryptoQuant report shows that the short-term high remains negative following the downtrend in crypto prices. Short-term holders’ realized price is now at $90,800, down 4% compared with the market value to realized value ratio. This year, Bitcoin’s price nosedived from an all-time high above $108k to current levels, taking a toll on relatively new holders.

GameStop Presses Play on Bitcoin, Miners Face Shrinkage, Robinhood Gets a Time Out

Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week, GameStop made headlines with its Bitcoin announcement, but stumbled with a debt offering. BTC miners are facing a tough situation as fees shrink. Additionally, Robinhood received a penalty in New Jersey for its prediction market debut. GameStop, which trades on the New York Stock Exchange under the GME ticker, reported $4.8 billion in cash and confirmed it would start buying Bitcoin, joining a rapidly growing list of publicly traded companies that buy the cryptocurrency.

Is “Banana Zone” Still Relevant To The Price Of Bitcoin?

Bitcoin’s widely discussed “banana zone” is developing differently this cycle compared to previous bull markets, raising questions about the next price move. Crypto analyst Rekt Capital explains that the banana zone represents the parabolic upside phase whenever Bitcoin breaches old all-time highs. However, the current cycle has shown a slower progression than anticipated. Despite recent volatility, Rekt Capital maintains that the current price action fits within expected parameters, with pullbacks being a normal part of the parabolic phase. The recent 30% decline in Bitcoin’s price is consistent with historical patterns.