Wyoming has taken a groundbreaking step toward establishing a Strategic Bitcoin Reserve, marking a significant milestone in state-led cryptocurrency adoption. A new bill , titled “State Funds-Investment in Bitcoin,” was introduced on January 17, just days before President-elect Donald Trump’s inauguration. If passed, the bill would authorize Wyoming to invest a portion of its state funds in Bitcoin, reinforcing its reputation as a pioneer in financial innovation. The proposal allows the Wyoming state treasurer to allocate up to 3% of funds from the general fund, the Permanent Wyoming Mineral Trust Fund, and the Permanent Land Fund into Bitcoin. Notably, the bill stipulates that if Bitcoin’s market value exceeds this 3% threshold, the state treasurer will not be required to liquidate holdings to meet the limit, signaling a long-term commitment to the asset. Wyoming Proposes Bold Bitcoin Investment Plan Wyoming Senator Cynthia Lummis, a staunch Bitcoin advocate, lauded the initiative on social media, calling it a “bold step toward a strategic Bitcoin reserve.” Lummis, who also introduced a similar bill at the federal level in July 2024, commended Wyoming Representative Jacob Wasserburger for championing the legislation, emphasizing its potential to position the state as a leader in financial innovation. “This forward-thinking approach will benefit our state as we lead the nation in financial innovation,” Lummis stated, underscoring the importance of diversification and Bitcoin’s growing role in modern finance. The bill’s introduction aligns with a broader trend of state-level interest in Bitcoin reserves. Wyoming joins a growing list of states, including Pennsylvania, Texas, and Ohio, that have proposed similar legislation, reflecting a collective recognition of Bitcoin as a strategic asset. Nationwide Momentum Builds The push for state-level Bitcoin reserves coincides with mounting speculation about the Trump administration’s potential plans to establish a national Bitcoin reserve . Betting platforms Kalshi and Polymarket have seen a surge in odds favoring the move, amplifying interest in state initiatives. Wyoming’s proposal also comes amid rising scrutiny of the U.S. government’s handling of its own Bitcoin holdings. On January 15, Lummis penned a letter to the U.S. Marshals Service questioning plans to liquidate 69,370 Bitcoin seized from the Silk Road asset forfeiture. She described the potential sale as politically motivated and urged for greater transparency. The post Wyoming Proposes Strategic Bitcoin Reserve: Details appeared first on TheCoinrise.com .
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Ethereum Price Analysis: This Support Is Crucial for Ethereum to Reach $4K
Ethereum is grappling with a decisive support range between the 100-day MA ($3.2K) and the 200-day MA ($3K), a critical region serving as the buyers’ last line of defense. The outcome at this level is expected to shape Ethereum’s mid-term trajectory. Technical Analysis By Shayan The Daily Chart ETH recently encountered heightened volatility as it approached the significant $3.2K-$3K price range, reflecting an intense battle between buyers and sellers. The price action highlights sellers’ attempts to push the asset below these key moving averages, signaling a potential bearish breakdown. Currently, Ethereum is finding temporary support within this range, with the price confined between the $3.2K level and the bullish flag’s upper boundary. A decisive breakout in either direction is likely to determine the next major trend for Ethereum. The 4-Hour Chart On the 4-hour chart, Ethereum consolidated near the 0.5 ($3.2K) and 0.618 ($3K) Fibonacci retracement levels before briefly breaking below this critical support zone. However, strong buying interest quickly drove the asset back above the $3.2K mark. This region remains pivotal as it represents the final primary support zone for buyers. A sustained hold above the $3.2K level could reignite bullish momentum, targeting a recovery toward higher resistance lines. Conversely, a breakdown below this range could trigger liquidations, potentially driving the price toward the $2.5K support zone. For now, Ethereum is consolidating near this critical region, with a battle between buyers and sellers dictating the market’s next move. Onchain Analysis By Shayan The Binance liquidation heatmap provides insights into key levels where significant liquidation events are likely. Based on the clustering of liquidation levels for long and short positions, these levels often act as magnets, driving price action toward them as market participants aim to capture liquidity. During the recent shake-off, Ethereum grabbed liquidity at the $3K mark, resulting in a sharp price recovery. A notable cluster of wrecked levels still exists just below the critical $3K support, representing long-position liquidations. This makes the $3K area highly attractive to bears and institutional sellers, increasing the probability of a bearish breakout toward these levels in the mid-term. However, a significant liquidity pool also rests at the $4K threshold, marking a potential ultimate target for buyers. However, it is likely that the price may grab liquidity below $3K first, creating a shakeout phase before resuming a bullish trajectory toward $4K. While Ethereum’s current price action reflects consolidation, the $3K level remains pivotal. A bearish breakout to capture liquidity below $3K is plausible in the short-to-mid term. The post Ethereum Price Analysis: This Support Is Crucial for Ethereum to Reach $4K appeared first on CryptoPotato . The Coin Rise
Bitcoin Price Analysis: BTC Surges Past $102,000 As Markets Prepare For Trump Inauguration
Bitcoin (BTC) surged to an intraday high of $105,841 as an increasingly bullish cryptocurrency market sets itself up for President-elect Donald Trump’s inauguration. The crypto industry expects positive developments and executive orders within Trump’s first few days in office. Trump Plans Slew Of Executive Orders Bitcoin (BTC) surged to its highest level of 2025 as the markets eagerly await Donald Trump’s inauguration on January 20. Trump is reportedly planning over 100 executive orders on his first day in office, with some impacting Bitcoin and the cryptocurrency market. With expectations building, BTC crossed $105,000 earlier in the day, rising to an intraday high of $105,841 before declining to its current level of $103,365. The flagship currency is up 1.50% over the past 24 hours and nearly 10% over the week. Trump’s executive orders are expected to cover several banking and crypto policies. The crypto industry has long complained about regulatory action under the Biden administration. Executives allege regulators pressured banks to cut off the digital asset industry from financial services and excessive enforcement action by the Securities and Exchange Commission (SEC). It also campaigned against the SEC Staff Accounting Bulletin 121, which required banks to report crypto it held as a liability on its balance sheet. Trump has also promised to establish a strategic Bitcoin reserve and a crypto council and draft a clearer regulatory framework. Gensler Set To Step Down Securities and Exchange Commission Chair Gary Gensler will step down on Monday, after announcing his resignation in November. Gensler has been a thorn in the crypto industry, overseeing several enforcement actions against some of the biggest names in crypto, including Coinbase and Binance, alleging they functioned as unregistered brokers, clearinghouses, and securities. However, the crypto space also saw some positive developments under Gensler, with the launch of spot Bitcoin ETFs in January. Trump announced Paul Atkins was his pick for SEC Chair. Atkins previously served as a Republican member of the SEC during the Bush administration. Trump wrote on Atkin’s appointment on his Truth Social account, stating, “Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.” Trump has also nominated David Sacks as the White House AI and Crypto Czar. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has registered a marginal decline during the ongoing session as its momentum stalled around $106,000. If sellers continue to exercise control, BTC could slip below $100,000 again. BTC fell to an intraday low of $91,298 on Thursday after experiencing a significant decline last week. However, it recovered on Friday, rising 2.27% and settling at $94,818. The weekend was mixed as BTC registered a marginal drop on Saturday, followed by a marginal increase on Sunday to settle at $94,585. The current week began with BTC facing immense selling pressure as it plummeted below $90,000, falling to an intraday low of $89,397. However, buyers bought the dip, allowing BTC to recover, as it reclaimed $90,000 to settle at $94,492. Source: TradingView Market sentiment changed on Tuesday as BTC rose over 2% to go above the 20-day SMA and settle at $96,566. Bullish sentiment intensified on Wednesday as BTC rose almost 4% to move past the 50-day SMA and $100,000 to settle at $100,050. However, it was back in the red on Thursday, dropping to an intraday low of $97,094 before settling at $99,799. Bullish sentiment returned on Friday as BTC surged past $100,000 to an intraday high of $105,742. However, it lost momentum after reaching this level and ultimately settled at $103,732, an increase of almost 4%. The current session sees BTC down over 1% as sellers look to drive the price below $100,000. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. The Coin Rise