Bitcoin Price Prediction: BTC Slips Below $105K as Global Policies Shif

Reform UK leader Nigel Farage made waves at the Bitcoin 2025 conference by announcing that the party will now accept Bitcoin and other cryptocurrencies as donations. This makes Reform UK the first major British party to accept digital assets, partnering with Radom, a leading crypto payments platform.

Farage also revealed plans for a “Cryptoassets and Digital Finance Bill” if his party wins the next UK election, to be enacted before 2029.

Key proposals include reducing the crypto capital gains tax from 24% to 10%, establishing a Bitcoin reserve at the Bank of England, and opposing the introduction of a UK central bank digital currency (CBDC).

'We are going to launch a crypto revolution in Britain.'

Reform UK Leader Nigel Farage has unveiled a new initiative — the Crypto Assets and Digital Finance Bill — which his party has drafted and will actively campaign for. pic.twitter.com/uiAD5eQihq

Farage’s experience of being debanked has led to this crypto-friendly stance, which could resonate with the estimated 7 million UK crypto holders, especially the 25% under 30.

India is set to release a discussion paper on crypto regulation in June 2025, marking a significant milestone in its stance on digital assets. This paper will incorporate inputs from the FSB and IMF, and will involve stakeholders from the IT and finance sectors.

While the Reserve Bank of India is cautious and promoting its CBDC as a safer alternative, the global trend of regulatory acceptance, including pro-crypto comments from US Vice President J.D. Vance, suggests India may soften its stance.

Clarity on India’s crypto policies could boost institutional and retail confidence, making Bitcoin more resilient.

At Bitcoin 2025, New York City Mayor Eric Adams announced plans to issue a Bitcoin-backed municipal bond, the “Bitbond”, where investors can earn returns tied to Bitcoin’s performance. He also renewed calls to scrap New York’s BitLicense, saying it stifles innovation.

LATEST: New York Mayor Eric Adams calls for a Bitcoin bond in NYC and an end to the state BitLicense program. pic.twitter.com/ZcGf9NhrmX

“You have a crypto mayor,” he said, vowing to make the city more crypto-friendly. This could attract institutional interest and increase the likelihood of long-term Bitcoin adoption.

On the technical front, the Bitcoin price prediction is bearish. On the 2-hour chart, BTC/USD is in a descending channel with lower highs and lower lows.

The 50-period EMA acts as resistance, and the MACD exhibits deep red histograms and a bearish signal line crossover. A “Three Black Crows” pattern is strong bearish.

Support is at $102,168, and resistance is near $106,655. If BTC breaks $102,168, it could test $100,799 or $99,356. A bullish reversal – a hammer or morning star pattern, with MACD divergence and EMA crossover – could take it back to $106,655.

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