Bitcoin Drops Below $81K as Zhao Changpeng in Pakistan and FOIA Suit Draw Attention

Bitcoin hovered below $81,000, suppressed by technical resistance, bullish momentum was limited, and market sentiment tended to be cautious. Despite the pressure on price movements, external news has triggered a new round of attention and discussion - including a FOIA information disclosure lawsuit on the origin of Bitcoin and Pakistan's appointment of former Binance CEO CZ as a crypto advisor. These events have once again ignited heated discussions about the long-term adoption prospects of BTC.

Pakistan recently appointed former Binance CEO Changpeng Zhao (CZ) as an advisor to the newly established Pakistan Crypto Council (PCC), a move with far-reaching implications. The news came on April 7, marking one of the region’s boldest crypto industry moves to date.

CZ will work with the Central Bank of Pakistan and the Ministry of Finance to advise on regulatory frameworks and infrastructure, bringing credibility and momentum to Pakistan’s digital asset strategy.

The country already ranks third in global crypto adoption rankings, with more than 20 million users. With the addition of CZ, Pakistan is expected to build a regional crypto hub, forcing neighboring India to accelerate its own blockchain plans. Crypto opinion leaders in India have expressed concern, noting that Pakistan’s lead in Web3 innovation is widening.

Crypto lawyer James Murphy, also known as MetaLawMan, has filed a Free Information Act (FOIA) lawsuit against the U.S. Department of Homeland Security (DHS), seeking clarification on whether DHS officials met with the person believed to be the creator of Bitcoin in 2019.

The lawsuit, which cites Special Agent Rana Saoud, seeks to resolve long-standing questions about the identity of Satoshi Nakamoto.

Murphy said any transparency — even if the claim is ultimately proven false — could ease suspicion surrounding Bitcoin’s origins. If Bitcoin can be shown to have no links to governments, it could gain stronger legitimacy and wider institutional acceptance.

Fidelity Investments has launched a "Crypto IRA" plan that allows U.S. investors to invest in Bitcoin, Ethereum and Litecoin through tax-advantaged accounts.

The service charges a 1% spread fee and has no account management or maintenance fees, and is designed to make digital assets more accessible to long-term investors.

Looking at the chart, Bitcoin has encountered strong resistance near $81,800 and is currently experiencing weak momentum after retreating from $83,800. The relative strength index (RSI) is close to 43, showing that the bullish momentum is gradually fading. The key support level is $78,000. If it falls below, there is a risk of further downside, and the lowest level may be $74,400. A close above $81,600 would help the bulls regain control of the market, but sellers are still in the driver’s seat for now.