El Salvador has continued to purchase Bitcoin (BTC) despite pressure from the International Monetary Fund (IMF) to drop its mandatory Bitcoin acceptance for businesses. The country recently bought 12 more BTC, increasing its total holdings to 6,068 BTC, worth over $554 million. El Salvador has been buying more BTC as prices dip, accumulating 21 BTC in the past week alone and 60 BTC over the past month. Although the government made changes to meet the IMF's loan requirements, allowing businesses to choose whether to accept Bitcoin or not, the country remains committed to Bitcoin. However, Bitcoin's price has been struggling and dropped to a 24-hour low of around $96,000, causing concerns among investors. Technical indicators are also bearish, with the 14-week relative strength index (RSI) displaying a similar pattern to Bitcoin's major correction in 2021. A bullish turnaround would require the RSI to break above its downtrend.



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