Bitcoin Holds Strong Near $84.6K— Panama & ETFs Fuel Bulls

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Arslan Butt

Crypto Writer

Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Last updated: 

April 16, 2025

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Bitcoin (BTC) traded at $84,688 on Thursday, inching up just under 1% while holding steady above key support levels. Though price action remains subdued, momentum is building behind the scenes thanks to a wave of institutional, regulatory, and adoption-focused developments.

Blockdaemon CEO: Governance Is Crypto’s Missing Link

Konstantin Richter, CEO of crypto infrastructure firm Blockdaemon, is calling on project founders to introduce professional governance frameworks.

In an interview with TheStreet, Richter warned that the absence of formal structures—like boards of directors—has hindered institutional trust.

He cited high-profile failures like FTX and recent scandals involving HAWK and Mantra’s OM, arguing that without governance, mainstream financial institutions like JPMorgan and Goldman Sachs remain hesitant to engage with crypto projects.

“Decentralization is essential, but accountability through governance is what brings in the big players,” Richter said.

Improved governance could encourage greater institutional adoption of Bitcoin, potentially reinforcing long-term price strength and industry credibility.

Bitwise Launches 4 Crypto ETFs on London Stock Exchange

In a major move for European crypto exposure, Bitwise Asset Management has launched four new exchange-traded products (ETPs) on the London Stock Exchange (LSE):

• BTC1: Core Bitcoin ETP
• BTCE: Physical Bitcoin ETP
• ZETH: Physical Ethereum ETP
• ET32: Ethereum Staking ETP

All are physically backed and secured in cold storage with third-party oversight. Bitwise’s expansion is aimed at meeting rising institutional demand across the UK and EU.

“Institutions want regulated, transparent crypto exposure—and we’re here to deliver that,” said Bitwise Europe President Bradley Duke.

This move is a bullish signal for Bitcoin’s legitimacy and broader financial integration.

Panama City to Accept Crypto for Taxes and Fees

Panama City has officially joined the growing list of crypto-forward municipalities. As of April 15, residents can pay taxes, fees, and permits using BTC, ETH, USDC, and USDT. Payments are automatically converted to USD via a local banking partner.

Mayor Mayer Mizrachi likened the move to cities like Lugano, Colorado, and Vancouver, which already support digital assets for public services.

This development marks another milestone in Bitcoin’s real-world utility and underscores its evolving role in public finance and inflation-hedging strategies.

Bitcoin Price Holds Support Near $84K

From a technical perspective, Bitcoin is holding bullish structure above the $84,135 support and the 50-period EMA, despite light trading volume. The RSI at 53.9 signals neutral momentum with room for a breakout.

A push above $85,508 could ignite a rally toward $86,446 and $87,416.

Bitcoin Potential Trade Setup:

• Entry: Buy on confirmed breakout above $85,500
• Target: $86,446 – $87,416
• Stop Loss: Below $83,800

Tip: Wait for a full candle close with strong volume above resistance before entering.

Bottom Line

With calls for improved governance, a growing number of ETF offerings, and expanding municipal adoption, Bitcoin’s long-term fundamentals are strengthening. While price remains range-bound for now, the broader narrative continues to build in favor of further institutional engagement and upside potential.

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Staking for Passive Bitcoin Income

BTC Bull offers a lucrative staking program boasting a 119% APY, allowing users to earn passive income while supporting the network. With over 882.5 million BTCBULL tokens already staked, community engagement continues to grow.

Latest Presale Updates:

• Current Token Price: $0.00246 per BTCBULL
• Raised So Far: $4.6M of $5.3M target

With limited time remaining and demand accelerating, this is a key window to secure BTCBULL at presale rates before the next price jump.