Some El Salvadoran residents are excited by the thought of bitcoin being treated as legal tender, while others are concerned it may just be a tool for corrupt officials.
Ether is providing some with hope as its momentum, in the form of volume, continues to beat bitcoin for the 10th straight day.
The declining futures premium indicates uncertainty about bitcoin following a 35% correction in May and another 12% drop already this month.
The business intelligence firm originally planned to offer $400 million in senior secured notes.
"This traditionally bullish signal should be interpreted with caution and in the context of other indicators," one analyst said.
BTC will need to remain above $30,000 to avoid entering bear market territory.
The CEO will face the Senate Homeland Security Committee to explain the reasoning behind his decision to pay a $4.4M bitcoin ransom.
White House antitrust adviser Tim Wu holds bitcoin and filecoin, according to a recent financial disclosure.
Bitcoin continues its descent amid whispers of U.S. Federal Reserve tapering economic stimulus and China's ongoing pressure on crypto miners.
Miguel Kattán, a member of President Nayib Bukele’s cabinet, sought to reassure Salvadorans fearful of a full pivot to a bitcoin standard.
El Salvador's Nayib Bukele has built a career by courting the vulnerable while attacking the establishment. Now he wants bitcoin as legal tender.
El Salvador's announcement was largely ignored by markets, possibly due to the country's small size, analysts say.
Ether’s dominance is at 19.78%, the highest it has been since May 16.
Investors redeemed a net $141 million during the seven days through June 4, the highest weekly total on record, according to CoinShares.
Inflation could send the global economy into recession as central banks lose control, according to Deutsche Bank.