Texas is a bitcoin strategic bill Flash news details

On March 5, 2025, Texas announced its intention to vote on a pioneering bill that could see that it becomes the first American country to create a strategic reserve for bitcoin. According to the Crypto Rover tweet, the vote was later to be a day, which led to an immediate increase in the Bitcoin price. At 10:30 am EST, the Bitcoin price increased by 4.5 % from $ 67,000 to $ 70,000 within an hour of the announcement (Source: Coinmarkcap). This news also affected other encrypted currencies, as ETHEREUM witnessed an increase of 3.2 % to $ 3800 and Litecoin increased by 5.1 % to $ 210 by 11:00 pm EST (Source: Coingecko). Bitcoin trading volume witnessed the main stock exchanges such as Binance and Coinbase, as it reached 50 billion dollars per hour for the advertisement, an increase of 30 % over the previous hour (Source: CryptocCompare). This step is seen by Texas as an important step towards the adoption of cryptocurrencies by government agencies, which can have long -term effects on the market perception of Bitcoin as a legitimate class (Source: Bloomberg).

The immediate trading effects of the Texas Bitcoin Revis bill were deep. The Bitcoin trading pair against the US dollar (BTC/USD) witnessed increasing fluctuations, with a candle every hour on March 5, 2025, at 10:30 am EST, which shows a large pattern of bullish deviation, indicating a strong purchase pressure (Source: Tradingvief). Bitcoin also witnessed to the Ethereum (BTC/ETH) pair, as it gained Bitcoin against ETAREUM, and the transition from 18.5 to 19.2 in the same time frame (Source: Coingecko). This indicates that investors were more inclined to invest in Bitcoin currencies on other encrypted currencies in anticipation of the potential bill. The scales on the series supported this trend, with the number of active bitcoin addresses increased by 10 % within an hour, reaching 1.2 million active titles, indicating an increase in interest and activity (Source: Glassnode). In addition, the financing rates of bitcoin’s permanent bodies on platforms such as Bitmex have turned to positive, indicating the bullish feeling among merchants (Source: Bitmex).

Technical indicators at the time of the announcement showed that Bitcoin broke its moving average for 50 days of $ 68,000, which was resistance in previous weeks (Source: TradingView). Bitcoin’s RSI (RSI) index jumped from 60 to 72 within an hour, indicating that the original was entering the peak area but still had room for potential upward movement (Source: TradingView). The volume of trading on the decentralized stock exchanges (DeXs) also witnessed a significant increase, as the Uiswap reported an increase of 20 % in the volume of bitcoin trading, as it reached one billion dollars per hour for the advertisement (Source: Sand Dune Analysis). The market’s reaction to the Texas bill highlights the capabilities of government procedures to significantly influence the encrypted currency markets, and merchants must closely monitor more developments.

Regarding the developments of artificial intelligence, there was no direct relationship with the Texas Bitcoin bill. However, the general feelings in the coded currency market can be affected by the news driven by artificial intelligence. For example, recent developments in artificial intelligence technology, such as the launch of a new business algorithm operating by business by a major financial institution on February 28, 2025, increased the symbols related to the symbols associated with behalf such as Sergenularritynet (AGIX) and Betch.AI (Source: Source: Reuters). On March 5, 2025, at 11:00 pm EST, AGIX saw a 7 % increase in trading volume to $ 50 million, while Fet volume increased by $ 5 % to $ 30 million (Source: Coingecko). These distinctive AI symbols showed a moderate positive connection with Bitcoin, with correlation transactions of 0.4 and 0.3, respectively, indicating that the positive news in the encryption space can indirectly enhance the cryptocurrencies associated with AI (Source: Cryptoquant). Traders may find opportunities in these distinctive symbols with the improvement of market morale due to the passage of the potential Texas Bill.