Bitcoin Advocate Jeremy Tan Challenges PAP in Singapore’s Mountbatten SMC

In an unconventional electoral battle, Bitcoin entrepreneur Jeremy Tan is taking on Singapore’s ruling party in the Mountbatten district, campaigning on crypto adoption and social reforms.

Singapore’s Mountbatten SMC Faces Bitcoin-Focused Electoral Challenge

Singapore’s Mountbatten electoral district is experiencing an unusual electoral contest. Jeremy Tan, a vocal Bitcoin proponent and serial entrepreneur, is challenging the incumbent from the People’s Action Party (PAP). Tan, who has a background in business and IT, and is the founder of Paula’s Choice (acquired by Unilever), is running a campaign centered around Bitcoin and social reforms. The district is currently held by PAP’s Lim Biow Chuan, who won decisively in the 2020 General Election.

Bitunix Lists Babylon (BABY) Coin for Direct Bitcoin Staking

The crypto world continues to evolve with new projects aiming to solve long-standing issues. Babylon has introduced a groundbreaking method for staking Bitcoin without users needing to relinquish control of their coins. This allows Bitcoin to actively participate in decentralized ecosystems while maintaining its CORE principles of security and self-custody. Typically, Bitcoin is not natively compatible with staking due to its Proof of Work model, but Babylon’s innovation bridges this gap. By enabling direct Bitcoin staking, Babylon facilitates a more active role for Bitcoin in decentralized networks.

Bitcoin’s Recent Drawdown Signals Maturity Amidst Global Economic Uncertainty

The U.S. dollar index (DXY) has fallen below 100, and gold has surged to new all-time highs due to escalating tariffs heightening global economic uncertainty. Asset prices, particularly in the tech sector and cryptocurrencies, have taken a hit. Bitcoin (BTC), which reached an all-time high of $109,000 in January, has declined approximately 26%. When compared to notable tech stocks like Tesla (TSLA), NVIDIA (NVDA), Apple (AAPL), Meta (META), Google (GOOG), Amazon (AMZN), and Microsoft (MSFT), Bitcoin’s drawdown sits in the middle, highlighting its growing maturity as an asset class.

New Hampshire and Florida Advance Bills to Establish State Bitcoin Reserves

Legislative efforts to introduce state-level Bitcoin reserves are gaining momentum in the United States. On April 10, New Hampshire’s House passed bill HB302 in a narrow 192-179 vote, authorizing the state treasurer to allocate up to 10% of New Hampshire’s general fund into investments in precious metals and digital assets, with Bitcoin standing alone as the only eligible cryptocurrency due to its market capitalization exceeding $500 billion. The legislation now moves to the state Senate for further debate. Separately, Florida is also advancing a similar bill aimed at allowing its government to hold Bitcoin as part of its financial reserves.

Bitcoin May Hit Resistance at $84K: CryptoQuant

CryptoQuant analysts predict that Bitcoin (BTC) could face resistance around the $84,000 price level if bullish conditions don’t improve. If BTC fails to break through this level, it may hover in the low $80,000s in the NEAR term. However, if it manages to break through, it could soar towards its next resistance level of $96,000. Bitcoin’s previous support levels are now acting as resistance, a pattern that has been observed in past bearish cycles. At the time of writing, Bitcoin was trading at $79,47.