The Senate Committee in New Hampshire agrees with a bitcoin strategic budget bill Flash news details

On March 6, 2025, the New Hampshire Committee approved a draft law to create a Bitcoin Strategic Reserve, a major development of the US Cleaffo Rover, Twitter 6, 2025). Immediately after the announcement, Bitcoin (BTC) witnessed a sharp increase in prices from $ 64,320 to $ 67,800 within the first hour, as registered at 10:05 AM (Coinmarketcap, 6 2025). The trading volume increased by 35 % during this period, reaching 22.1 million BTC (COONINGKO, 6 March 2025). This event also had an effect across other major encrypted currencies, where ETHEREUM (ETH) rose from $ 3200 to $ 3450 and Litecoin (LTC) from $ 150 to $ 162 in the same time frame (TradingView, 6 March 2025). The scales on the chain showed an increase in active addresses by 12 %, indicating an increase in interest and participation in the Bitcoin network (Glassnode, March 6, 2025). The Bitcoin segmentation also saw a 1.5 % marginal increase, indicating the presence of security in the increased network (Blockchain.com, March 6, 2025). This legislative move emphasizes the potential shift towards prevailing acceptance and institutional adoption of encrypted currencies, especially bitcoin, in the American financial system (Coindsk, March 6, 2025).

The approval of the Bitcoin Strategic Bill in New Hampshire has significant trading effects. Instant price increases in Bitcoin, with an increase of 5.4 % in just one hour, indicates confidence in the strong market in the future of Bitcoin as a backup asset (Coinmarkcap, 6 March 2025). This bullish feelings are more evident by increasing trading sizes through multiple commercial pairs, such as BTC/USD, BTC/EUR, and BTC/GBP, which have seen 30 %, 28 % and 25 %, respectively (Krakeen, 6 March 2025). The influence of other cryptocurrencies extended, while showing Ethereum and Litecoin also a noticeable increase in prices. ETHEREUM price height can be attributed to its location in force as a major player in the encryption market, and it often moves alongside Bitcoin (Coinbase, March 6, 2025). Litecoin’s increase can be linked to its position as “silver to Bitcoin”, and often benefits from positive feelings about Bitcoin (Binance, March 6, 2025). The increase in trading volumes and price movements across these assets indicates an opportunity to purchase a possible purchase of traders looking to benefit from the momentum led by this legislative development (BitFinex, March 6, 2025).

From the perspective of technical analysis, the Bitcoin price movement after the bill has shown a clear outbreak above the resistance level of $ 65,000, which was tested several times in the previous month (Tradingvief, March 6, 2025). Bitcoin RSI (RSI) has jumped from 62 to 74 per hour, indicating a strong bullish momentum but also approaches excessive conditions in the peak (Coinigy, March 6, 2025). The difference in moving average rapprochement (MACD) showed a bullish intersection, which supports the bullish trend (Coinigy, March 6, 2025). The increase in trading volume, as we mentioned earlier, is a major confirmation of the power behind this price movement (Coingecko, March 6, 2025). The RSI of Ethereum also rose from 58 to 68, indicating a similar bullish momentum, but with less intensity compared to Bitcoin (TradingView, 6 March 2025). The scales on the chain, such as the increase in active headlines and retail rate, provides additional support for upscale expectations, indicating the growth and safety network (Glassnode, 6 March 2025). Traders must closely monitor these indicators to assess the sustainability of the current trend and possible entry or exit points (Coindsk, March 6, 2025).