The Paraguay government asked its citizens on Monday 9 June to ignore X posts made through the official report by President Santiago Peña. Earlier on Monday during the Mid-Noord-American trade session, the X account for President Peña indicated that Paraguay Bitcoin had taken over as a legal means of payment, in addition to creating a strategic BTC reserve and access to bonds for crypto-assets.
According to the X Post, which was later removed, the Paraguay government had set up a Bitcoin reserve of $ 5 million. The Paraguay Government doubtful The claims like such a movement were not going. Currently, the Paraguay legislers are only aimed at regulating the crypto mine construction sector and the exchanges of virtual assets to improve taxing.
Bitcoin -Price wins Bullish Momentum
After the fake news from Paraguay, the Bitcoin price rose by more than 2 percent to reach a local highlight of around $ 108,702. The wider Altcoin market, led by Ethereum (ETH), registered Bullish Sentiment, so the total crypto valuation rose to $ 3.51 trillion at the time of this writing.
As a result of the sudden crypto -rebound, more than $ 222 million was liquidated, with the largest single liquidation of $ 3.28 million from a BTC -walvis. The Futures Open Interest (OI) from the Bitcoin rose from $ 71 billion to $ 77 billion in the last 24 hours of rising FOMO -Crypto -traders.
From the point of view of technical analysis, Bitcoin Price is well positioned to break his previous time in the near future. A consistent daily close to $ 107k will confirm a new bull rally that is fed by institutional investors. As Coinpedia reported, the strategy led to dozens of companies taking on a Bitcoin Treasury Management Plan, as a result of which the demand versus asks to escalate shock.