empty
30.04.2025 12:59 PM
Bitcoin and Ether hold their ground

Yesterday's sharp intraday declines in Bitcoin and Ether were quickly bought up, signaling ongoing interest from traders and investors who are simply waiting for more attractive buying levels.

Meanwhile, lawmakers in the Arizona House of Representatives have passed two bills that could pave the way for the state to establish a Bitcoin-backed reserve. In the third reading of Senate Bill 1025 (SB1025), which proposes amendments to Arizona statutes to allow for a strategic BTC reserve, 31 members voted in favor and 25 opposed. A similar bill, SB1373, aimed at creating a state-level digital asset reserve, passed with 37 votes in favor and 19 against.

This image is no longer relevant

State Representative Jeff Weninger indicated that the bill reflects a strategy likely under consideration in at least 15 other U.S. states, permitting the treasury department to allocate up to 10% of its investments into cryptocurrencies, with a primary focus on Bitcoin.

"I think this probably would start as a 'may' for the foreseeable future, but as things continue to pivot towards Bitcoin and these things, would have that already in place in the future," he added.

These approvals bring the proposals closer than any other state-level initiative in the US to becoming law on creating a strategic cryptocurrency or Bitcoin reserve. Similar legislation introduced in New Hampshire was passed by the state's House of Representatives in April and is expected to be voted on in the full Senate soon.

State-level efforts to build Bitcoin reserves come as US President Donald Trump and Republican lawmakers push for similar action at the federal level. In March, Trump signed an executive order proposing a strategic Bitcoin reserve and a broader "digital asset stockpile."

Wyoming Senator Cynthia Lummis, a vocal crypto advocate, introduced a bill in Congress that would allow the US government to hold more than 1 million BTC, partly sourced from cryptocurrencies seized in civil or criminal proceedings. Some lawmakers have suggested that Lummis's bill is an attempt by Congress to codify Trump's executive order into law.

This image is no longer relevant

Bitcoin technical outlook:

Buyers are now aiming to reclaim the $95,600 level, which would open the path to $97,100 and then $99,000. The ultimate upside target stands at the $100,000 mark. A breakout of this mark would signal the end of the bear market. If Bitcoin falls, buyers are expected to emerge around $94,400. A drop below this area could quickly drag BTC down to $93,600, with the final downside target at $91,800.

This image is no longer relevant

Ethereum technical outlook:

A confirmed move above $1,818 for ETH opens the way to $1,843. The furthest upside target is the $1,868 high. Surpassing it would mark a bullish reversal. If Ether declines, buyers are likely to step in around $1,794. A break below this level could swiftly push ETH down to $1,772, with the lowest target at $1,750.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading tips for crypto market on June 27 (North American session)

Bitcoin made another attempt to return to the $108,000 level, but failed to hold it and corrected lower, falling below the $107,000 mark, a move that could lead

Miroslaw Bawulski 15:47 2025-06-27 UTC+2

Another Major Company Announces $1 Billion Raise to Buy Bitcoin

The cryptocurrency market is showing strong confidence. Given its correlation with the U.S. stock market—where historical highs are being updated—there is room to expect further growth in digital assets. However

Jakub Novak 10:50 2025-06-27 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 27

Bitcoin and Ethereum have paused their upward movement following yesterday's weak fundamental data, indicating a slowdown in the U.S. economy's growth. However, this wasn't the primary driver behind the pause

Miroslaw Bawulski 09:16 2025-06-27 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 26

Bitcoin and Ethereum are demonstrating stable growth amid new forecasts regarding the number of interest rate cuts expected from the Federal Reserve this year. Another dovish stance from

Miroslaw Bawulski 09:19 2025-06-26 UTC+2

Bitcoin Aims For Continued Growth

Yesterday, Bitcoin continued its upward movement, driven by the notably softer tone of Federal Reserve Chair Jerome Powell regarding the future of interest rates. His cautious remarks — that

Jakub Novak 12:42 2025-06-25 UTC+2

BTC/USD Analysis on June 25, 2025

The wave pattern on the 4-hour BTC/USD chart remains generally clear. We observed a corrective downward formation that completed near the $75,000 level. After that, a strong upward movement began

Chin Zhao 12:32 2025-06-25 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 25

Bitcoin and Ethereum continued their rally yesterday, triggered by news of a ceasefire between Iran and Israel. Federal Reserve Chair Jerome Powell's dovish tone during his testimony in the House

Miroslaw Bawulski 09:33 2025-06-25 UTC+2

BTC/USD Now trying to reach the level of 106000. Tuesday, June 24, 2025.

1. Market Sentiment Summary. When yesterday President Trump softened his aggression against Iran, it eased the current world geopolitical tensions, causing several market players to start returning to risky assets

Arief Makmur 07:36 2025-06-25 UTC+2

Bitcoin and Ethereum Regain Strength

Bitcoin and Ethereum are showing strong performance. After holding the $100,000 level, large buyers returned to their usual activity and have already pushed BTC back to the $105,000 area. Ethereum

Jakub Novak 10:52 2025-06-24 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 24

Bitcoin and Ethereum surged sharply after news emerged that Iran and Israel might halt their exchanges of strikes. U.S. President Donald Trump announced yesterday that Iran and Israel had agreed

Miroslaw Bawulski 10:04 2025-06-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.