Panama City has embraced cryptocurrency payments for public services, accepting Ethereum, Bitcoin, USDC, and USDT. Mayor Mizrachi has bypassed legislative hurdles by partnering with banks for crypto-to-fiat conversions. Ethereum shows signs of breaking a downtrend, with significant price levels and bullish indicators. Meanwhile, BTC Bull ($BTCBULL) is a new meme coin aiming to support Bitcoin’s journey to $250,000, currently available at a presale price.
In a groundbreaking move, Panama City has officially adopted cryptocurrency for public service payments, covering taxes, permits, tickets, and various fees. The city will accept Ethereum (ETH) alongside Bitcoin, USDC, and USDT, signalling a crucial development in Latin America’s increasing crypto adoption. Mayor Mayer Mizrachi explained that while previous administrations faced challenges in passing supportive legislation, his team devised a more efficient approach that avoids the requirement for new national laws.
To facilitate the process, Panama City will partner with banks that can convert cryptocurrency to fiat currency, enabling seamless transactions for both governmental operations and residents. This progress follows an initiative by earlier administrations to pass enabling legislation in the senate, which failed, thus prompting Mayor Mizrachi’s innovative method to bypass legislative bottlenecks.
Analysing ETH’s performance, it appears to be breaking free from a prolonged downtrend. Support has been established in the $1,500–$1,550 range and after consolidation, ETH surpassed its descending resistance line, indicating a possible reversal in trend. Notably, ${1,500–$1,550} is crucial support; a close below this could lead to a dip towards the $1,350-$1,400 range.
Key indicators show the RSI (Relative Strength Index) is at approximately 40, suggesting ETH remains within a neutral zone, leaving potential for upward movement. On a positive note, the MACD has indicated bullish divergence, which could point towards a trend shift if there is sufficient follow-through volume.
Should ETH successfully reclaim and maintain the $1,750–$1,800 level, a rally towards $2,100 could ensue. A successful breakout at this level could further lead to prices reaching $2,400 and ultimately $3,000. This bullish sentiment around Ethereum may also spur a corresponding rise in Bitcoin’s value, aligning with anticipated long-term rallies.
A new token, BTC Bull ($BTCBULL), is entering the market, aiming to support Bitcoin’s ascent to $250,000 and beyond. Available for presale at $0.002465, this meme coin provides unique benefits for holders, including exclusive BTC airdrops as Bitcoin hits specific milestones. The token is gaining traction among both ardent Bitcoin supporters and meme coin fans, backed by a vibrant community across X and Telegram.
BTCBULL can be purchased using cryptocurrency or bank cards via the official website, but potential buyers should hurry as the presale period is limited with just 22 hours remaining until the next price escalation.
