Pakistan’s crypto minister, Bilal Bin Saqib, announced on May 28 that the country is establishing a Bitcoin strategic reserve.

Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Saqib said the government of Pakistan followed the United States’ lead in establishing a Bitcoin strategic reserve and is embracing pro-crypto regulatory policies. The government official told the audience:

“Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them.”

The announcement represents a significant departure from the government of Pakistan’s previous stance on cryptocurrencies, holding that crypto would never be legal in the country.

Pakistan’s shift reflects the broader trend of nation-states adopting pro-crypto policies following the regulatory shift in Washington, DC under the President Donald Trump administration.

Bilal Bin Saqib at the Bitcoin 2025 conference announcing a Bitcoin strategic reserve. Source: Cointelegraph

Related: Pakistan appoints special assistant to PM on blockchain and crypto

Bilal Bin Saqib, head of Pakistan’s crypto council, announced on May 28 that the country is moving to establish a strategic Bitcoin reserve.

Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Saqib said the government of Pakistan followed the United States’ lead in establishing a Bitcoin strategic reserve and is embracing pro-crypto regulatory policies. The government official told the audience:

“Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them.”

The announcement represents a significant departure from the government of Pakistan’s previous stance on cryptocurrencies, holding that crypto would never be legal in the country.

Pakistan’s shift reflects the broader trend of nation-states adopting pro-crypto policies following the regulatory shift in Washington, DC under the President Donald Trump administration.

Bilal Bin Saqib at the Bitcoin 2025 conference announcing a Bitcoin strategic reserve. Source: Cointelegraph

Related: Pakistan appoints special assistant to PM on blockchain and crypto

Pakistan shifts stance toward cryptocurrencies

The Pakistan government first explored the idea of a “National Crypto Council” in February 2025 to oversee the development of a comprehensive regulatory framework for cryptocurrencies and to attract foreign investment.

Several initiatives were proposed by the Council, including using runoff energy to mine BTC or data centers, and accumulating BTC for a national treasury.

In May 2025, the Council announced the allocation of 2,000 megawatts of excess energy to Bitcoin mining and high-performance computing data centers.

Binance co-founder Changpeng Zhao is one of the Council’s advisers. Appointed in April, the executive will advise on crypto regulations, blockchain infrastructure, and the adoption of digital assets.

Trump’s World Liberty Financial (WLFI), a decentralized finance protocol, signed a letter of intent on April 27 to help the country to tokenize real-world assets, build DeFi architecture, and experiment with crypto products.

More recently, in May 2025, Pakistan’s Ministry of Finance commissioned the establishment of an entirely new agency to oversee digital asset regulations in Pakistan. The Digital Asset Authority will oversee the regulation of crypto platforms and issue licenses to digital asset providers operating in the country.

Magazine: NBA star Tristan Thompson misses $32B in Bitcoin by taking $82M contract in cash

Bilal Bin Saqib, head of Pakistan’s crypto council, announced on May 28 that the country is moving to establish a strategic Bitcoin reserve.

Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Saqib said the government of Pakistan followed the United States’ lead in establishing a Bitcoin strategic reserve and is embracing pro-crypto regulatory policies. The government official told the audience:

“Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them.”

The announcement represents a significant departure from the government of Pakistan’s previous stance on cryptocurrencies, holding that crypto would never be legal in the country.

Pakistan’s shift reflects the broader trend of nation-states adopting pro-crypto policies following the regulatory shift in Washington, DC under the President Donald Trump administration.

Bilal Bin Saqib at the Bitcoin 2025 conference announcing a Bitcoin strategic reserve. Source: Cointelegraph

Related: Pakistan appoints special assistant to PM on blockchain and crypto

Pakistan shifts stance toward cryptocurrencies

Pakistan government first explored the idea of a “National Crypto Council” in February 2025 to oversee the development of a comprehensive regulatory framework for cryptocurrencies and to attract foreign investment.

Several initiatives were proposed by the Council, including using runoff energy to mine BTC or data centers, and accumulating BTC for a national treasury.

In May 2025, the Council announced the allocation of 2,000 megawatts of excess energy to Bitcoin mining and high-performance computing data centers.

Binance co-founder Changpeng Zhao is one of the Council’s advisers. Appointed in April, the executive will advise on crypto regulations, blockchain infrastructure, and the adoption of digital assets.

Trump’s World Liberty Financial (WLFI), a decentralized finance protocol, signed a letter of intent on April 27 to help the country to tokenize real-world assets, build DeFi architecture, and experiment with crypto products.

More recently, in May 2025, Pakistan’s Ministry of Finance commissioned the establishment of an entirely new agency to oversee digital asset regulations in Pakistan. The Digital Asset Authority will oversee the regulation of crypto platforms and issue licenses to digital asset providers operating in the country.

Magazine: NBA star Tristan Thompson misses $32B in Bitcoin by taking $82M contract in cash

Shares of video game and collectibles retailer GameStop dropped nearly 11% on May 28 after the company announced its first Bitcoin purchase, triggering a classic sell-the-news reaction.

The stock closed at $31.21 on the New York Stock Exchange, according to Google Finance.

The company announced the purchase of 4,710 Bitcoin (BTC) valued at roughly $513 million on May 28. GameStop confirmed plans to create a BTC treasury strategy on March 26, following months of investor speculation and rumors that it would begin accumulating the cryptocurrency.

Trump Media and Technology Group (TMTG), the parent company of President Donald Trump’s Truth Social platform, also saw its shares plunge after announcing a $2.5 billion capital raise to purchase Bitcoin. Since the May 27 announcement, TMTG stock has dropped over 24%.

GameStop’s stock has experienced a pullback following the company’s first Bitcoin purchase. Source: TradingView

GameStop’s move to adopt Bitcoin as a treasury reserve asset reflects a growing trend among companies turning to Bitcoin to safeguard cash reserves or reposition themselves as Bitcoin acquisition vehicles.

Related: Bitcoin accepted at fast food chain Steak ’n Shake from May 16

Bitcoin as a hedge against fiat currency inflation

Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, GameStop CEO Ryan Cohen said that “Bitcoin and gold can be hedges against global currency devaluation and systemic risk.” According to Cohen:

“Bitcoin has certain unique advantages compared to gold. The portability aspect, it’s instantly transferable across the globe, whereas gold is bulky and very expensive to ship, the authenticity is instantly verified via the blockchain. You can easily secure Bitcoin in a wallet, whereas gold requires insurance, and it is very expensive.”

The CEO also cited the absolute scarcity of Bitcoin and the potential for gold’s inflation rate to increase due to technological advancements as a factor in favor of choosing Bitcoin over gold for long-term value storage.

GameStop CEO Ryan Cohen discusses the rationale for the company’s Bitcoin acquisition. Source: Bitcoin Magazine

Bitcoin also has a greater potential upside since the digital asset is still in its infancy and continues to be monetized, according to Cohen.

“Gold is a more mature market. It is roughly around $20 trillion in market capitalization, whereas Bitcoin today is about $2 trillion,” the GameStop CEO said.

Magazine: Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam: Asia Express

Key point:

Bitcoin’s market structure is still bullish, even as a phase of profit taking and consolidation sets in.

Bitcoin (BTC) remains pinned below the breakout level of $109,588, indicating that the bears are fiercely defending the level. Bitfinex analysts said in a market note that profit-taking generally follows after Bitcoin hits a new all-time high after a sharp rally. The report added that a mild retracement or consolidation would be healthy and lay the foundation for the next leg higher.

Glassnode had a similar view. In its latest report, the market intelligence company said that the relative strength indicator (RSI) has weakened, suggesting easing momentum, which could lead to “a potential pause or reversal in the recent bullish trend.”

Crypto market data daily view. Source: Coin360

Even if a correction happens, dips are likely to be purchased. Material Indicators co-founder Keith Alan remains bullish as Bitcoin continues to trade above $100,000, and the whales are accumulating. He expects Bitcoin to find support near the $94,000 level. 

What are the critical levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin’s failure to maintain above the $109,588 level may have attracted selling by short-term traders. 

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The bears will try to pull the price to the 20-day exponential moving average ($105,453), which is a key level to watch out for. If the price rebounds off the 20-day EMA with strength, it suggests that the sentiment remains positive and traders are buying on dips. That improves the prospects of a retest of the $111,980 level. If buyers overcome the $111,980 resistance, the BTC/USDT pair could surge to $130,000.

Contrarily, a break and close below the 20-day EMA could strengthen the bears. The pair could then plummet to the psychologically crucial support of $100,000, which is likely to attract solid buying by the bulls.

Ether price prediction

Buyers could not push Ether (ETH) above the $2,738 resistance on May 27, but they have kept up the pressure.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The ETH/USDT pair has formed a bullish ascending triangle pattern, which will complete on a break and close above $2,738. That clears the path for a rally to $3,000 and later to the pattern target of $3,153.

This optimistic view will be negated in the near term if the price turns down and breaks below the 20-day EMA ($2,467). The failure of a bullish setup may trap the aggressive bulls, sinking the pair to $2,323 and below that to $2,111.

XRP price prediction

XRP (XRP) has been trading between the moving averages, indicating a lack of aggressive buying or selling.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The flattish 20-day EMA ($2.33) and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. If the price dips below the 50-day SMA ($2.24), the XRP/USDT pair could dive to the $2 support. Buyers are expected to fiercely defend the $2 level because a break below it may sink the pair to $1.61.

On the upside, a break and close above the 20-day EMA opens the gates for a rally to $2.65. Buyers will have to drive the pair above $2.65 to catapult the price to $3.

BNB price prediction

Buyers pushed BNB (BNB) above the $693 resistance on May 27 but could not sustain the higher levels.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The price action of the past few days has formed a bullish ascending triangle pattern, which will complete on a break and close above $693. If that happens, the BNB/USDT pair could rally toward the pattern target of $752.

The 20-day EMA ($658) is the critical support to watch out for on the downside. A break and close below the 20-day EMA could accelerate selling as the aggressive bulls may cover their positions. That could tug the pair to the 50-day SMA ($622).

Solana price prediction

Solana (SOL) has been consolidating inside a narrow range between the 20-day EMA ($169) and the overhead resistance at $180.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

If the price turns down and breaks below the 20-day EMA, it suggests that the bulls are booking profits. The SOL/USDT pair could descend to $159 and later to the 50-day SMA ($153), which is likely to attract buyers. If the price rebounds off the 50-day SMA, the pair could swing between $153 and $180 for some time.

A break and close above $180 signals the resumption of the up move. The pair could pick up momentum and rally to the $210 to $220 resistance zone.

Dogecoin price prediction

Sellers are trying to pull Dogecoin (DOGE) below the immediate support at the 20-day EMA ($0.22).

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If they succeed, the DOGE/USDT pair could drop to the horizontal support at $0.21. Buyers are expected to defend the $0.21 level with all their might because a break below it could sink the pair to the 50-day SMA ($0.19). Such a move brings the large $0.14 to $0.26 range into play.

On the contrary, a rebound off $0.21 suggests the bulls are vigorously defending the level. That could keep the pair inside the $0.21 to $0.26 range for a few more days.

Cardano price prediction

Buyers have managed to keep Cardano (ADA) above the neckline of the inverse head-and-shoulders (H&S) pattern, but the bounce lacks strength.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

That increases the risk of a break below the 50-day SMA ($0.70). If that happens, the ADA/USDT pair could plunge to the solid support at $0.60. That suggests the markets have rejected the breakout from the bullish setup.

Buyers will have to push the price above the $0.86 resistance to indicate the resumption of the up move. The pair may then rally to $1.01, where the bears may mount a strong defense.

Related: SUI price chart hints at 2x rally amid Nasdaq ETF filing

Sui price prediction

Sui (SUI) turned down from the 20-day EMA ($3.66) on May 28, indicating that the sentiment remains negative and the traders are selling on rallies.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

The bears will try to sink the SUI/USDT pair to the 50-day SMA ($3.24), which is a key level to keep an eye on. If the price rebounds off the 50-day SMA, the bulls will try to clear the 20-day EMA hurdle. If they can pull it off, the pair may rally to the $3.90 to $4.25 overhead zone.

On the other hand, a break and close below the 50-day SMA suggests that the bears remain in control. The pair could then plunge to the $2.86 support.

Hyperliquid price prediction

Hyperliquid (HYPE) turned down from $40 on May 26 and broke below the breakout level of $35.73 on May 28. 

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

There is support at $32, but if the level cracks, the HYPE/USDT pair could extend the slide to the 20-day EMA ($30). Buyers will try to start a bounce off the 20-day EMA but may face stiff resistance at $35.73.

The first sign of strength will be a break and close above $35.73. That suggests solid demand at lower levels. The bulls will then make one more attempt to drive the pair to the overhead resistance of $42.25.

Chainlink price prediction

Chainlink (LINK) continues to find support at the neckline of the H&S pattern, but the bulls have failed to start a strong rebound.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($15.66) is flattening out, and the RSI is near the midpoint, indicating a balance between supply and demand. Buyers will have to push the price above $18 to gain the upper hand. If they do that, the LINK/USDT pair could rally to $19.80.

Instead, if the price turns down and breaks below the 50-day SMA ($14.68), it suggests that the markets have rejected the breakout above the resistance line. The pair could then drop to $13.20.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.