Bitcoin Law: President Bukele Slams US Lawmakers for Criticism of BTC Legal Tender Status
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The latest criticism on El Salvador’s Bitcoin law came from a bipartisan group of senators, including Republican Senators Jim Risch and Bill Cassidy with Democratic Senator Bob Menendez.
President Bukele asserted that the US had no jurisdiction over the affairs of a sovereign and independent nation and told the Senators to “stay out of the internal affairs” of the Central American nation.
On the part of the US legislators, Senator Risch raised concerns over El Salvador’s decision to adopt BTC as legal tender, adding that it raised concerns over the nation’s economic stability and financial integrity and described the country as a “vulnerable US trading partner.”
The Republican Senator also noted that the Central American nation’s BTC move has the “potential to weaken” sanctions placed by the US, which could empower bad actors like China and organized criminal organizations. Risch argued:
“Our bipartisan legislation seeks greater clarity on El Salvador’s policy and requires the administration to mitigate potential risk to the US financial system.”
Key Bitcoin Levels to Watch — February 17
BTC has suffered a fresh bearish blow on Thursday, as the primary cryptocurrency slumped toward the $42K support level. This pullback comes after a prolonged consolidation under the $44.5K resistance over the past few days.
Considering the cryptocurrency’s previous performance around this support level, we can expect the price to hold above this support in the coming hours and pull buyers to send it rallying again towards the $45K zone. That said, bulls need to defend this line over the coming hours and days to secure the possibility of ending the month above the $45K level.
Meanwhile, my resistance levels are at $43,400, $44,000, and $45,000, and my key support levels are at $42,000, $41,000, and $40,000.
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Bitcoin Dominance: 41.8%
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