As reported by TheMarketPeriodical, a UAE government official described Bitcoin as a 'key pillar in the future of finance,' signaling growing institutional adoption. The comments came as Bitcoin price approached the $92,000–$94,000 resistance zone, with traders monitoring a CME gap near $89,500. JPMorgan analysts projected Bitcoin could reach $170,000 within 12 months, based on a gold valuation comparison. On-chain data suggested structural support near $56,355, while technical indicators highlighted a critical decision point for the price.
UAE Official Calls Bitcoin 'Key Pillar' as Price Nears $94K
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