Bitcoin Advocate Mentzen Gains Traction in Polish Presidential Election

A candidate with a unique vision for Poland’s financial future is gaining popularity among voters, particularly the youth. Sławomir Mentzen, who advocates for integrating Bitcoin into the country’s financial system, is making waves in Poland’s presidential election.

Bitcoin Reserve Proponent Mentzen Gains Popularity in Poland’s Presidential Election Polls

Sławomir Mentzen, a Bitcoin reserve proponent, is gaining popularity in Poland’s presidential election polls, particularly among young voters. Observers attribute this to his active presence on social media and a political program inspired by U.S. President Donald Trump. Polish voters will elect their new president on May 18, with incumbent Andrzej Duda unable to run again due to term limits. While no candidate is expected to win in the first round, Mentzen is approaching the run-off territory in recent polls.

Bitcoin Bleeds $630M as Crypto Fund Outflows Accelerate

Crypto asset investment products saw outflows of $584 million last week, marking the second consecutive week of investor pullback. Total outflows over two weeks amounted to roughly $1.2 billion. This shift highlights cautious sentiment among investors due to macroeconomic uncertainty, particularly regarding US interest rate policy. Exchange-traded products (ETPs) globally recorded the lowest traded volume since US spot Bitcoin ETFs launched in January, at $6.9 billion. Bitcoin led the outflows, while altcoins showed pockets of resilience.

Warning Signs Emerge for Bitcoin’s Recent Rise

After showing signs of recovery, Bitcoin has lost its upward momentum, falling by 6.4% over the past week to hover around $82,000. On-chain analysts have raised questions about whether recent price trends reflect real demand or speculative behavior, with CryptoQuant contributors pointing to warning signs such as a divergence between market capitalization and actual network activity. The NVT indicator also signals caution amid low transaction volume.

Bitcoin Whales Accumulate as Short-Term Holders Capitulate

Bitcoin has shown weakness in price movement, declining by 22.3% in the last month to $83,191. The drop reflects ongoing uncertainty in the broader crypto market due to reduced risk appetite and a lack of strong bullish catalysts. Despite this, recent on-chain activity suggests that whale addresses—wallets holding between 1,000 and 10,000 BTC—have demonstrated historical correlation with Bitcoin’s price trends, indicating confidence in its long-term value.

Bitcoin Price Battles Key Hurdles—Is a Breakout Still Possible?

Bitcoin price started another decline below the $83,500 zone and is now consolidating. It might struggle to recover above the $83,850 zone. The price failed to start a recovery wave and remained below the $85,500 level. BTC started another decline and traded below the support area at $83,500. The bears gained strength, and the price even declined below the $82,000 level.