2024

Bitcoin

Captain

Reserve

<ul class="wp-block-list">
 <li>Texas nears creation of a Bitcoin reserve with bipartisan support as BTC trades just below $110K after a 42 percent rally since April.</li>  
 <li>Bitcoin recovers from a 29 percent Q1 drop, breaks out of descending channel, and now eyes new highs with strong volume support.</li>  
 <li>Senate Bill 21 advances Texas toward fiscal innovation while BTC’s bullish trend signals continued momentum and renewed investor confidence.</li> 
</ul>  
<p>Texas has taken a <a href="https://x.com/BTC_Archive/status/1924942848018792672" target="_blank" rel="noopener noreferrer nofollow">leap toward</a> financial innovation, moving closer to establishing a state-managed Bitcoin reserve. The Texas House of Representatives passed Senate Bill 21 in its second reading, with an overwhelming 105-23 vote. This marks a step toward final approval of the <a href="https://cryptofrontnews.com/texas-bitcoin-reserve-bill-nears-final-vote-amid-growing-state-adoption/" rel="noopener noreferrer nofollow">Texas Strategic Bitcoin Reserve</a> and Investment Act. The bill aims to make Bitcoin a hedge against inflation while positioning Texas as a forward-thinking economic force.</p>  
<p>The measure introduces a framework for the state comptroller to hold Bitcoin in a special fund outside the treasury. An amendment from Representative Linda Garcia (D-TX) extended the market capitalization period requirement from 12 to 24 months. Giovanni Capriglione (R-TX), the bill’s sponsor, emphasized fiscal resilience and long-term digital asset strategy. The reserve would include input from an advisory committee of crypto investment experts. Additionally, the comptroller must submit biannual reports on crypto holdings and valuations.</p>  
<p>Besides its economic intent, the bill reflects the broader <a href="https://cryptofrontnews.com/texas-introduces-bitcoin-reserve-bill-to-reinforce-its-role-as-a-blockchain-and-mining-leader/" rel="noopener noreferrer nofollow">growth of Texas as a crypto mining powerhouse</a>. The state has consistently ranked high as a hub for blockchain infrastructure. While the bill awaits third reading approval and final reconciliation, it signals serious momentum. If passed, Texas could become the second U.S. state with a Bitcoin reserve, following New Hampshire’s move earlier this month.</p>  
<h2 class="wp-block-heading" id="bitcoin-breaks-out-as-bullish-momentum-builds">Bitcoin Breaks Out as Bullish Momentum Builds</h2>  
<p>As per <a href="https://x.com/CryptoFaibik/status/1925057774808895696" target="_blank" rel="noopener noreferrer nofollow">Captain Faibik</a> analysis, Bitcoin continues its upward march, fueled by strong buying pressure since April. The BTC/USDT reveals a breakout from a descending channel that lasted from December 2024 to April 2025. Price action had peaked above $110,000 in late 2024 before entering a downward correction.</p>  
<p>By March 2025, Bitcoin had dropped nearly 29%, testing key support near $78,000. However, bulls regained control in April as price bottomed near $75,700. The breakout above the descending trendline marked a turning point. Consequently, Bitcoin surged over 42% from its lows, currently trading around $107,700.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcMhyAzkabqb03XccxqMybnIqCTUTvb7oPAxcrGHrcA_NQWx9y7A8JX_CPpqF4PG8BGmndl5YON7OS-hgcdg93baeBvovRlsdT5QaGrOIWBKaSManszJOxhdWIJp8Kkux3ymq8rWQ?key=9bMVGmweMb2hA1o12xD1PA" alt="">
</figure>  
<p class="has-text-align-center">Source: <a href="https://x.com/CryptoFaibik/status/1925057774808895696" target="_blank" rel="noopener noreferrer nofollow">Captain Faibik</a></p>  
<p>Volume has notably increased during the April-May rally, reinforcing the bullish trend. Moreover, recent candlesticks show minimal pullbacks and strong upward momentum. Bitcoin now forms a clear pattern of higher highs and higher lows.</p>  
<h2 class="wp-block-heading" id="new-resistance-zone-approaches">New Resistance Zone Approaches</h2>  
<p><a href="https://cryptofrontnews.com/bitcoin-enters-overbought-zone-as-it-nears-critical-price-resistance/" rel="noopener noreferrer nofollow">Bitcoin has fully recovered from the Q1 correction</a>. It now tests resistance at $110,000, which previously served as late 2024 support. If bulls clear this barrier, a new all-time high appears likely. Hence, the current setup signals a strong continuation of Bitcoin’s April uptrend.</p> 
<p>The post <a href="https://cryptofrontnews.com/texas-advances-bitcoin-reserve-bill-as-btc-eyes-new-highs/" target="_blank" rel="noopener noreferrer nofollow">Texas Advances Bitcoin Reserve Bill as BTC Eyes New Highs</a> appears on <a href="https://cryptofrontnews.com" target="_blank" rel="noopener noreferrer nofollow">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.</p>

Texas Advances Bitcoin Reserve Bill as BTC Eyes New Highs

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