Movement PriceMOVE

💥 Cardano Price Set for 77.68% Breakout As Bitcoin Nears ATH Cardano price is set for a rally that could see a 77.68% breakout on the heels of its cross-chain update which aims to unlock smart contracts and DeFi on Bitcoin. Moreover, the price action also comes on the background of Bitcoin’s recent performance, where the leading asset is only 2% away from its previous all-time high. 🔸 Ascending Channel Suggests Cardano Price is Heading for a Rally Cardano price experienced a significant downturn, declining approximately 56.54% from its March 3 peak of $1.176 to a low of $0.5111. This correction signaled a bearish trend that persisted over several weeks. Only recently did Cardano’s price action start showing signs of recovery after flipping the $0.5111 level into support and rallying to a local high of $0.8650 where it faced rejection. While the price has since undergone a slight correction to $0.75655, an ascending channel has formed that suggests renewed bullish momentum. Moreover, the $0.6432 price zone which had previously acted as a barrier is now a key support level. This shift in price momentum suggests accumulation, though a confirmation will require a decisive move past $0.86510. Should Cardano price clear that resistance, it opens the door for a continued rally toward its previous high of $1.3275, last reached in December 2024, a move that represents a 77.68% upside. 🔸 Cardano’s Biggest News in 2025 is the Bitcoin Integration Cardano founder Charles Hoskinson announced Cardano’s integration with Bitcoin, a milestone that ushers a new era for cross-chain decentralized finance (DeFi). The integration will reinforce Cardano’s position in the DeFi space by attracting more liquidity sources and paving the way for seamless interoperability between the two layer 1 blockchains. “You can now use Bitcoin with Lace. Welcome home Bitcoin,” Hoskinson stated on X where he referenced the Cardano wallet, Lace. #ADA #Cardano

📊 Ethereum Price Surges 60%, Driving $3.4 Billion $ETH Accumulation in 30 Days Ethereum has experienced a remarkable surge in price, up 60% over the past month, reaching $2,543. This rally is largely driven by significant accumulation by investors, totaling 1.34 million ETH worth over $3.42 billion. Despite the growth, some critical investors are beginning to exit, aiming to secure their profits before potential risks arise. 🔸 #Ethereum Investors Gobble Up Supply Ethereum’s balance on exchanges has dropped by 1.34 million ETH in the past month (April 21 to May 21), marking a significant shift in market conditions. This supply reduction is valued at over $3.42 billion and is largely due to the Pectra upgrade, which has boosted investor confidence in Ethereum’s long-term growth. The drop in exchange supply reflects a growing belief that Ethereum could continue its upward trajectory. This rush to acquire Ethereum has created a FOMO (fear of missing out) effect, contributing to the price rise. However, the macro momentum surrounding Ethereum is mixed, with long-term holders (LTHs) exhibiting behavior that suggests caution. The Age Consumed metric has spiked twice this week, indicating that significant portions of ETH are being sold by LTHs to lock in profits. This is the largest wave of selling in the past seven months, which suggests that these holders believe Ethereum may have reached its market top. The sell-off by LTHs is drawing attention to potential risks that could affect Ethereum’s future performance. 🔸 #ETH Price Rallies Ethereum price is currently trading at $2,543, marking a 60% rally over the past month. However, the price faces resistance at the $2,654 mark. Breaching this resistance is crucial for Ethereum to continue its rise. The price will likely surge beyond this level if Bitcoin forms a new all-time high (ATH), as Ethereum has a strong correlation with Bitcoin. This move could push Ethereum closer to $3,000, further solidifying its bullish outlook.

Bitwise CIO: Stablecoin bill could pave the way for a multi-year bull run in the crypto market The U.S. Senate voted on Monday to advance landmark stablecoin legislation, a move that Bitwise Chief Investment Officer Matt Hougan said could pave the way for a multi-year bull run in crypto assets. He likened the development to a "marriage between Wall Street and the crypto industry." Senators voted 66 to 32 to advance the GENIUS Act, which has bipartisan support, including 16 Democratic lawmakers who previously opposed it and switched to support it this week. Crypto industry leaders and lawmakers have called the vote a "historic victory" and believe it will help "ensure the dominance of the dollar." However, after the procedural vote, lawmakers still need to vote on potential amendments before they can hold a final vote on the bill itself. "The politicians in Washington did the right thing," Hougan wrote in a note to clients Tuesday evening. "I don't want to rush it, but it looks like we're going to have the first fully passed crypto legislation in the United States this summer." (The Block)

Big news is brewing from the Lone Star State! The Texas legislature is making significant strides towards embracing digital assets, specifically Bitcoin. A bill that could authorize the state to directly invest in Bitcoin has successfully passed the Texas House. This development signals a potentially major shift in how states might manage reserves and explore new financial frontiers. For anyone watching the intersection of government finance and digital currencies, this move towards Texas Bitcoin investment is certainly one to keep an eye on. At its core, the legislation known as the Texas Strategic Bitcoin Reserve and Investment Act aims to give the state the legal authority to hold and invest in Bitcoin. This isn’t just about allowing individuals or businesses within Texas to use crypto; it’s about the state government itself potentially becoming a participant in the Bitcoin market. According to reports, including one from @BTCTN on X, the bill has cleared a major hurdle by passing the House. Think of state reserves like a savings account or investment portfolio for the government. These funds are typically invested in safe, stable assets like bonds or other traditional securities to ensure financial stability and potentially generate returns. The idea behind this Texas crypto bill is to explore the possibility of including Bitcoin within that portfolio. Key aspects often considered in such legislation, based on similar discussions globally, would likely include: While the precise details of the Texas bill’s current form await finalization and public release post-passage, the intent is clear: to open the door for state-level Bitcoin investment as a strategic financial move. Texas has long positioned itself as a hub for innovation and business-friendly policies. Its strong energy sector, independent spirit, and growing tech scene make it a natural fit for exploring new technologies like blockchain and cryptocurrency. Several factors likely contribute to the state’s interest in pursuing a State Bitcoin reserve: 1. Economic Diversification and Innovation: Investing in Bitcoin could be seen as a way to diversify state assets beyond traditional markets and signal Texas’s commitment to being at the forefront of the digital economy. This could attract more cryptocurrency businesses and talent to the state. 2. Potential Inflation Hedge: With concerns about inflation impacting traditional fiat currencies, some proponents view Bitcoin as a potential store of value or hedge against the devaluation of the dollar over the long term. A State Bitcoin reserve could serve this purpose. 3. Capitalizing on Bitcoin’s Growth Potential: Despite its volatility, Bitcoin has shown significant growth over its history. State investment could potentially yield substantial returns, adding to state coffers without increasing taxes. 4. Leveraging the Energy Sector Connection: Texas is a major energy producer. Bitcoin mining is an energy-intensive process. There’s a growing movement to use excess or otherwise wasted energy (like flared gas) for Bitcoin mining. State involvement in Bitcoin could potentially tie into strategies for stabilizing the energy grid or utilizing energy resources more efficiently. 5. Attracting the Crypto Industry: By embracing Bitcoin at the state level, Texas enhances its appeal to cryptocurrency companies looking for favorable regulatory environments and supportive infrastructure. This aligns with the state’s broader economic development goals. The push for Texas Bitcoin investment is multifaceted, driven by a mix of financial strategy, technological interest, and economic development ambitions. The concept of a Texas Strategic Bitcoin Reserve is perhaps the most intriguing part of this bill. What would such a reserve look like in practice? It wouldn’t likely replace the state’s entire treasury overnight, but rather represent a specific allocation within the state’s broader investment portfolio. Imagine a portion of state funds, perhaps earmarked from specific sources or set as a percentage limit, being converted into Bitcoin. This Bitcoin would then be held in secure digital wallets, likely managed by experienced financial professionals or a newly established state entity with expertise in digital assets. The ‘strategic’ aspect implies that the reserve wouldn’t just be passively held. It could potentially be used for: Creating a State Bitcoin reserve involves navigating significant technical and logistical challenges, particularly around security and custody. State funds would need the highest level of protection against hacks or loss of private keys. Here’s a simplified comparison of traditional state reserves vs. a potential Bitcoin reserve: The vision is bold and represents a significant departure from traditional state finance, highlighting the growing acceptance and potential role of Bitcoin investment in the public sector. Should the bill become law and Texas proceed with Bitcoin investment, the state could realize several benefits: These potential upsides explain the legislative drive and the enthusiasm from the crypto community regarding the Texas crypto bill. Of course, investing public funds in a volatile asset like Bitcoin is not without its challenges and risks. Lawmakers and state officials would need to carefully consider and mitigate these factors: Addressing these challenges through careful planning, clear policies, and transparent reporting would be crucial for the success and sustainability of a Texas Strategic Bitcoin Reserve. While direct state government investment in Bitcoin reserves is relatively new in the U.S., other states and jurisdictions have explored various forms of cryptocurrency engagement: The Texas crypto bill, specifically focusing on state treasury investment and a strategic reserve, represents a significant step beyond creating friendly regulations or city-level tokens. It places Texas among a small, but growing, group of governmental entities directly holding Bitcoin as a treasury asset. With the passage through the Texas House, the bill now moves to the final stage of the state legislative process: the governor’s desk. Governor Greg Abbott will have the ultimate decision on whether to sign the Texas Strategic Bitcoin Reserve and Investment Act into law, veto it, or allow it to become law without his signature. The governor’s stance on cryptocurrency has generally been perceived as positive, emphasizing innovation and attracting crypto businesses to the state. However, signing a bill authorizing direct state investment in a volatile asset like Bitcoin is a significant policy decision that will undoubtedly involve careful consideration of the potential benefits against the inherent risks. The coming weeks will be critical as the bill undergoes final review. The crypto community, financial analysts, and Texas residents will be watching closely to see if the Lone Star State takes this historic leap into direct State Bitcoin investment. For various stakeholders, the potential passage of this Texas crypto bill has several implications: The potential Texas Bitcoin investment represents a fascinating development in the evolution of digital assets and their integration into traditional financial systems. The passage of the Texas Strategic Bitcoin Reserve and Investment Act by the House marks a pivotal moment. While the bill still requires the governor’s signature, its progression highlights a growing legislative interest in integrating Bitcoin into state financial strategy. The potential establishment of a Texas Strategic Bitcoin Reserve could bring significant benefits, from economic diversification and attracting innovation to potential long-term investment returns. However, it also necessitates careful navigation of volatility, security, and regulatory challenges. Texas is already a key player in the energy sector and increasingly in Bitcoin mining. Adding state-level Bitcoin investment to the mix could solidify its position as a leader in the digital asset space. This Texas crypto bill is more than just a financial maneuver; it’s a statement about embracing future technologies and exploring new models for state finance in the 21st century. All eyes are now on the governor to see if Texas will officially take this historic step towards State Bitcoin investment. To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin institutional adoption. Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

These Six Charts Explain Why Bitcoin's Recent Move to Over $100K May Be More Durable Than January's Run