Bitcoin faces a defining moment. After a 10.4% weekly drop, BTC is testing key resistance at $85,900, a critical level that could determine its next move. Meanwhile, the Swiss National Bank (SNB) has rejected Bitcoin as a reserve asset, citing volatility, liquidity concerns, and security risks—a decision that could influence central banks worldwide.
Swiss National Bank Dismisses Bitcoin as a Reserve Asset
Bitcoin has long been championed as a hedge against inflation and a digital reserve currency, but Switzerland’s central bank remains unconvinced.
SNB President Martin Schlegel recently spoke out against adding Bitcoin to the country’s reserves, arguing that it lacks the stability and liquidity required for a central bank asset.
This stance clashes with a growing movement in Switzerland, where Bitcoin advocates are pushing for a constitutional mandate requiring the SNB to hold BTC. As crypto adoption accelerates globally, the rejection raises broader questions about central banks’ willingness to integrate digital assets into their financial systems.
Why the SNB Rejects Bitcoin as a Reserve Asset
Despite Bitcoin’s $3 trillion market capitalization, Schlegel maintains that crypto remains a “niche phenomenon” within the global financial ecosystem. The SNB’s rejection is based on three key factors:
Volatility Risks – Bitcoin’s price fluctuations make it unsuitable for monetary reserves, as stability is crucial for central bank assets.
Liquidity Challenges – The SNB requires instant access to reserves, and BTC lacks the liquidity needed for rapid monetary policy actions.
Security Concerns – Software vulnerabilities in blockchain networks introduce risks that don’t exist in traditional assets.
While Switzerland is widely regarded as a crypto-friendly nation, Schlegel made it clear: Bitcoin won’t be replacing the Swiss franc anytime soon.
What’s Next for Bitcoin in Switzerland?
Despite the SNB’s resistance, a Swiss Bitcoin referendum is already in motion. The initiative, led by nonprofit think tank 2B4CH, seeks to collect 100,000 signatures by June 2026 to force a national vote on whether Bitcoin should be part of Switzerland’s central bank reserves.
Switzerland’s population: 8.97 million
Required signatures for referendum: 100,000 (~1.11% of population)
Deadline: June 30, 2026
While Switzerland debates Bitcoin’s future, other nations are actively exploring BTC as a reserve asset. El Salvador has already integrated Bitcoin into its national treasury, while the U.S., Czech Republic, and Hong Kong are assessing similar proposals.
Daily Technical Outlook: Bitcoin (BTC) – March 2, 2025
Bitcoin is currently trading at $85,800, with a 24-hour trading volume of $21.1 billion. It has gained 1.53% in the past day, securing its position as the top-ranked digital asset with a $1.70 trillion market cap.
Bitcoin’s recent bounce from the $79,100 support zone has brought it back to crucial resistance at $85,900, where it faces strong selling pressure from both the descending trendline and the 50 EMA.
The current price action suggests a potential rejection at this level, as Bitcoin struggles to break above resistance. A failure to hold above $85,800 could trigger a retracement toward $83,100, with further downside risk toward $79,100.
50 EMA Resistance ($85,900) – Price struggling to break above, capping upside momentum.
Downward Trendline Pressure – BTC is approaching a breakout decision point.
Doji Candle Formations – Market indecision signals possible reversal.
Conclusion
BTC/USD must close above $86,500 with strong volume to confirm a bullish breakout, targeting $89,400 next. However, failure to hold $85,800 may lead to a drop toward $83,100, with further downside to $79,100 if sellers gain control.
Final Thoughts
Switzerland’s rejection of Bitcoin as a reserve asset highlights the ongoing divide between traditional finance and digital assets. While the SNB remains skeptical, a growing push for a BTC referendum could challenge the central bank’s stance.
At the same time, Bitcoin’s price remains at a technical crossroads, with traders eyeing key levels for the next big move.
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