Bitcoin Slides Below $106K; Analyst Sees Ether Breakout Looming and Pakistan announces Bitcoin strategic reserve

Bitcoin's price slipped to its lowest in nine days briefly trading below $106,000, while ETH and XRP outperformed as most large cryptos declined.
Tariff uncertainty is back on the menu as a U.S. appeals court reinstated the trade barriers, perhaps affecting investor sentiment.
Ethereum's ether could be setting the stage for breakout above $3,000, B2 Ventures founder argued.

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.