Bitcoin (BTC) was trading around $100,000 on Thursday

Market participants are watching diplomatic developments in Turkey, where peace talks between Russia and Ukraine are scheduled to take place

Bitcoin was trading around $102,000 on Thursday, having faced repeated rejections at the $105,000 resistance level over the past five days.

At press time, BTC was changing hands at $101,800, showing a slight recovery from the intraday low of $100,000.

The crypto market leader had faced strong selling pressure at the $105,000 resistance, resulting in a return to the critical support level of $100,000. A break below this level could open the door for a move toward the $95,000 support.

However, limited gains in the face of persistent selling pressure at higher levels suggest that buyers are struggling to gain control.

On the other hand, Bitcoin’s resilience and ability to hold crucial support levels despite bearish attempts indicate that sellers are not yet fully in charge.

What's next for Bitcoin?

Market participants are keeping an eye on diplomatic developments in Turkey, where peace talks between Russia and Ukraine are scheduled to take place, though expectations remain muted.

While the absence of top leaders diminishes the prospects for a breakthrough, even a symbolic step forward could boost market sentiment.

A shift toward risk-on assets, including Bitcoin, could follow any signs of diplomatic progress, despite the low expectations.

Bitcoin has served as the ecosystem’s anchor and a hedge against macro uncertainty. However, its increasing maturity and reduced volatility have made it less compelling for investors seeking asymmetric returns.

For those willing to engage in higher-risk bets, early-stage tokens like Bitcoin Pepe are gaining traction.

Ukraine close to a Bitcoin reserve bill?

Ukraine is reportedly moving closer to adopting Bitcoin as a national reserve asset, a strategic shift aimed at strengthening the country’s financial defenses amid the prolonged conflict with Russia.

According to Yaroslav Zhelezniak, a member of the Ukrainian parliament, lawmakers are finalizing a draft bill that would authorize the creation of national crypto reserves, with Bitcoin at the center of the proposal.

Zhelezniak confirmed the development to local media outlet Incrypted, noting that the legislation is in its final stages. The proposal was formally introduced during the CRYPTO 2025 conference in Kyiv on February 6.

“We will soon submit a draft law from the industry allowing the creation of crypto reserves,” Zhelezniak said.

Ukraine’s move follows growing global interest in Bitcoin as a sovereign asset, a trend that accelerated after the election of US President Donald Trump in November 2024.

In one of his early policy actions, Trump signed an executive order on March 7 establishing a US national Bitcoin reserve, funded initially with BTC confiscated in criminal proceedings.

Bitcoin Pepe to launch on May 31

A renewed rally in Bitcoin, driven by growing institutional demand, often acts as a catalyst across the broader cryptocurrency market, attracting sidelined capital and fueling interest in speculative assets, particularly meme coins.

In this environment, Bitcoin Pepe appears well-positioned to capitalize on shifting investor sentiment.

As the first meme-centric Layer 2 built on the Bitcoin network, Bitcoin Pepe combines the security of Bitcoin’s infrastructure with Solana-like scalability. This hybrid approach offers a unique value proposition — coupling robust foundational tech with the viral appeal typical of meme tokens.

Investor interest in the project has already materialized through its presale, which has raised more than $8.3 million to date. BPEP tokens are currently priced at $0.0326, with the presale set to end on May 31, 2025.

A potential exchange listing is anticipated shortly thereafter, which could act as a near-term price catalyst.

With sentiment in the crypto market improving and speculative demand rising, Bitcoin Pepe stands to benefit from the renewed appetite for meme-driven, high-volatility assets.