Crypto Regulation Updates: Panama’s Bill Moves Forward While BTC Tests $85,800.88 Resistance

Panama is moving towards crypto adoption. A new bill aims to regulate BTC payments in the country. This could make Bitcoin a legal payment option for goods and services. The move comes as Latin America sees growing interest in digital assets. The bill focuses on creating a clear framework for crypto transactions. It aims to boost financial innovation while ensuring consumer protection. Many believe this could push BTC adoption further. However, challenges remain including government regulations and public acceptance. This bill could influence Bitcoin’s price, but regulatory hurdles may limit its actual impact.

Panama’s New Crypto Payment Bill

Panama’s lawmakers are advancing structured crypto regulation with a new 2025 bill. It recognizes digital assets as a legal means of payment in commercial and civil contracts, provided both parties consent. The bill also enforces strict oversight. It requires virtual asset service providers to register in the national database and comply with FATF’s KYC and AML policies. Non-compliance could result in administrative or criminal penalties.

President José Raúl Mulino sees this legislation as a step toward making Panama a major blockchain hub. Congressman Gabriel Silva, a key supporter of the bill, emphasizes the need for balanced regulation to prevent past failures. Similar to the 2022 proposal which was ruled unconstitutional in 2023. Community reactions have been largely positive. Marta Ambor, from Panama Blockchain Week, highlighted the bill’s potential to position Panama as a regional leader in blockchain adoption. However, while optimism grows, regulatory challenges remain. If successfully implemented, this bill could drive Bitcoin adoption and influence BTC’s price movement. Yet, strict compliance requirements might limit its impact on real-world transactions.

Bitcoin Price Prediction of March 29

The trading day of March 28th began with a downward trend in BTC Price. A death cross appeared around 2:00 UTC, reinforcing the bearish movement. This was followed by an oversold condition on the RSI at 4:45 UTC, pushing the price lower. Around 6:50 UTC, Bitcoin broke the $85,800.88 support level, entering a new trading range. The price moved moderately within this zone until 13:50 UTC when another death cross triggered a further decline. By 14:50 UTC, BTC reached an oversold condition, leading to a support level of $83,584.82. 

Chart 1, analyzed by ShwetaCW, published on TradingView, March 29, 2025

As illustrated in Chart 1,  bulls attempted a recovery as a golden cross formed at 17:10 UTC, sparking an upward trend. The price rose steadily, reaching an overbought condition on the RSI by 23:00 UTC. As March 29th began, a death cross on the MACD at 00:45 UTC initiated another downward trend, which was confirmed by an oversold RSI at 01:00 UTC. If Bitcoin’s price continues to drop, it may break below the $83,584.82 support. However, if buyers regain control, BTC could reverse upward and test the $85,800.88 resistance level, according to Bitcoin Price Prediction analysis.

BTC Price Outlook Amid Regulatory Shifts

BTC Price continues to fluctuate as market dynamics and crypto regulation influence investor sentiment. The Panama crypto bill introduces a legal framework for digital assets. This could set a precedent for other nations. The recent price movements saw Bitcoin testing support at $83,584.82 and resistance at $85,800.88. A sustained downtrend could push BTC below support, while a reversal might trigger an upward rally. Regulatory changes, including new policies in various countries, could impact Bitcoin Price Prediction and long-term stability. Traders should monitor market signals closely, as sentiment and regulations will shape Bitcoin’s next move.