Bitcoin Market Soars: following Arizona Governor Katie Hobbs' veto of the Strategic Bitcoin Reserve bill, this Bitcoin Initial Coin Offering (ICO) exhibits a striking acceleration
Hop on over to our Telegram channel for the most recent news coverage updates
The price of Bitcoin has dipped 0.5% in the past 24 hours, trading at approximately $95,937 as of 9 p.m. EST. Following a 38% decrease in trading volume to $15 billion, the BTC price dive occurred as Arizona Governor Katie Hobbs denied a bill that would have permitted her state to develop a Strategic Bitcoin Reserve.
Introducing you to Katie Hobbs, the one who nixed Arizona's Strategic Bitcoin Reserve bill, dubbing Bitcoin as "unproven."
But holding back financial freedom isn't fresh news for Katie:- 2023: Nixed legislation protecting home Bitcoin nodes from local taxes, saying it was too broad. Translation:... [Image not provided]- Eli Nagar (@EliNagarBrr) May 3, 2025
Citing Bitcoin as an "untested investment," Hobbs dismissed the bill despite its House approval by 31-25. She has reaffirmed her loyalty to keeping public funds in traditional, proven assets.
Steadfast Near $96K As Bitcoin Bullish Pulse Simmers
Presently, the BTCUSDT pair is circulating around $95,937, with the bullish wave seemingly cooling near a significant resistance zone just below the psychologically attractive $100,000 mark. Analyzing the 1-day chart reveals a potential consolidation phase following a robust uptrend from April lows around $80,000.
In the digital world of Bitcoin, a bullish reversal occurred after a double bottom structure developed near the $76,000 support zone. This pattern, often perceived as a powerful reversal cue, was fortified by an Order Block (OB) and a Fair Value Gap (FVG), signifying areas of institutional interest.
The turnaround was further authenticated by a Market Structure Shift (MSS), paving the way for a gradual climb toward the upcoming major resistance level. At present, the price is hovering just shy of the $100K resistance zone, which previously proved an insurmountable barrier in February.
BTCUSDT Analysis Source: Tradingview
Bitcoin Faces Pivotal Test Near $100K
The potential breakout beyond this level could re-enable attempts to retest all-time highs. However, as Bitcoin advances closer to this critical zone, it encounters supply pressure, with the Relative Strength Index (RSI) reading at 65.80, just under the overbought threshold of 70. The RSI indicator suggests the possibility of a swift decline or a temporary sideways drift in the short term.
Moreover, a visible FVG around the $90,000 mark may act as a force pulling the price down should selling activity intensify. This level also overlaps with a prior consolidation zone and may present support if the market corrects.
The broader trend remains optimistic, underpinned by institutional accumulation indicators and escalating liquidity interest in the $85K-$90K range. If Bitcoin manages to maintain its position above the $90K support and busts above the $100K resistance decisively, it could trigger a new wave of bullish enthusiasm.
Traders and investors will closely observe the price action for a break beyond the $100K barricade or a retracement toward the $90K Fair Value Gap, providing potential buying opportunities.
BTCBULL Presale Surges to $5.3M – Could This Be the Crypto to Explode Next?
As Bitcoin consolidates slightly below the $100,000 mark, a fresh Bitcoin-oriented meme coin known as BTC Bull Token (BTCBULL) is witnessing growing impetus during its presale.
At present, the project has already amassed over $5.3 million, garnering investor attention with lucrative staking rewards and an intriguing Bitcoin-tethered rewards system.
The BTCBULL project is poised as a speculative yet calculated gamble on Bitcoin's longer-term potential, aiming to remunerate holders with real BTC as the prices spike. The project declared that its inaugural BTC drop will launch when BTC hits $150,000, accompanied by subsequent airdrops at every $50,000 price milestone.
FIRE UP, BULLS! 🔥 [Image not provided]
- BTCBULL_TOKEN (@BTCBULL_TOKEN) April 30, 2025
A deflationary burn mechanism will activate once BTC surpasses $125,000, continually reducing the BTCBULL supply for every subsequent $25,000 increase in the Bitcoin price. By decreasing the supply, it would drive up BTCBULL prices.
BTCBULL also offers investors a noteworthy 78% annual staking reward, with over 1.3 billion tokens already pledged to staking.
The presale's rapid progression has peaked the interest of crypto influencers, with the 99Bitcoins YouTube channel, sporting over 725K subscribers, forecasting a possible 10x ascent post-launch.
The token is available for acquisition at only $0.002495 on the project's official website, either through crypto or bank cards. By storing tokens within Best Wallet, users can receive Bitcoin airdrops automatically as BTC traverses essential price milestones.
Prospective purchasers are encouraged to buy BTCBULL before a potential price hike in approximately 2 days.
Explore BTC Bull Token.
Related Articles:
- Dogecoin Leads the Charge as Speculative Mindset Revives Meme Coins
- Top Emerging Cryptocurrencies on the Arbitrum Network
- Sam Altman's Iris-Scanning Orb Hits U.S. Markets
Best Wallet - Diversify Your Crypto Portfolio
Our Rating
- Easy-to-Use, Feature-Driven Crypto Wallet
- Secure Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now Available on App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Download NowJoin Our Telegram channel to stay updated on breaking news coverage
The Arizona Strategic Bitcoin Reserve bill was vetoed by Governor Katie Hobbs following its approval by both the Arizona Senate (16-13) and the Arizona House (31-25). The bill aimed to create a Bitcoin reserve as part of the state's treasury assets, making Arizona the first U.S. state to take such action, should it have become law[1][2]. The veto took place on May 2, 2025[1].
Sponsor Information:The bill was sponsored by Republican senators, with Senator Wendy Rogers being a prominent advocate for the initiative[2].
Governor Katie Hobbs Veto Reasons:Governor Hobbs vetoed the bill due to concerns about the unpredictability and lack of testing of Bitcoin as an investment vehicle for public funds, as well as financial concerns about utilizing volatile assets[1][2][4].
Katie Hobbs, the Arizona Governor, vetoed the bill that aimed to establish a Strategic Bitcoin Reserve in her state, labeling Bitcoin as "unproven." Despite this, Bitcoin is currently circulating around $95,937, with a potential breakout beyond the $100,000 resistance level that could re-enable attempts to retest all-time highs. A new Bitcoin-oriented meme coin, BTC Bull Token (BTCBULL), is witnessing growing impetus during its presale, offering lucrative staking rewards and an intriguing Bitcoin-tethered rewards system. Traders and investors will closely observe the price action for a break beyond the $100K barricade or a retracement toward the $90K Fair Value Gap, providing potential buying opportunities. Join our Telegram channel for the most recent news coverage updates.
