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The Bitcoin price has slipped 0.5% in the last 24 hours to trade at $95,937 as of 9 p.m. EST on a 38% plunge in trading volume to $15 billion.
The tumble in the BTC price comes as Arizona Governor Katie Hobbs rejects a bill that would have allowed her state to create a Strategic Bitcoin Reserve.
This is Katie Hobbs.
She just killed Arizona’s Strategic Bitcoin Reserve bill, calling Bitcoin "untested."
But blocking financial freedom isn’t new for Katie:
– 2023: Vetoed protecting home bitcoin nodes from local taxes, said it was "too broad."
Translation:… pic.twitter.com/E53CjUMJ7R— Eli Nagar (@EliNagarBrr) May 3, 2025
Despite passing the House 31–25, Hobbs rejected the move, calling cryptocurrency an “untested investment” and reaffirming her commitment to keeping public funds in safer, proven assets.
Bitcoin Price Holds Steady Near $96K As Bullish Momentum Cools
The BTCUSDT pair is currently trading around $95,937, as bullish momentum stalls near a key resistance zone just below the psychological $100,000 mark. The price action, captured on the 1-day chart, indicates a potential consolidation phase following a strong rally from April lows around $80,000.
Technically, Bitcoin experienced a bullish reversal after forming a double bottom near the $76,000 support zone. This structure, often viewed as a strong reversal signal, was supported by an order block (OB) and a fair value gap (FVG), both indicating areas of institutional interest.
The reversal was further confirmed by a market structure shift (MSS), paving the way for a steady climb toward the next major resistance level. The current price action shows BTC hovering just below the $100K resistance zone, which previously acted as strong resistance in February.
BTCUSDT Analysis Source: Tradingview
Bitcoin Faces Key Test Near $100K
A breakout above this level could open the doors toward retesting all-time highs. However, as Bitcoin approaches this critical zone, it is encountering supply pressure, with the Relative Strength Index (RSI) trending at 65.80, just shy of the overbought threshold of 70. The RSI indicator reflects a potentially overheated market, suggesting the possibility of a pullback or sideways consolidation in the short term.
Additionally, a visible FVG around the $90,000 mark may act as a magnet for price retracement should selling pressure intensify. That level also coincides with a prior consolidation zone and could offer support if the market corrects.
The broader trend remains bullish, supported by institutional accumulation signals and increasing liquidity interest in the $85K–$90K range. If Bitcoin maintains its position above the $90K support and breaks above the $100K resistance convincingly, it could ignite a fresh wave of bullish momentum.
Investors and traders will be closely watching for a breakout above the $100K barrier or a pullback toward the $90K fair value gap, which could present new buying opportunities.
BTCBULL Presale Tops $5.3M – Next Crypto To Explode?
As Bitcoin consolidates just under the $100,000 mark, a new BTC-themed meme coin called BTC Bull Token (BTCBULL) is gaining momentum in its explosive presale.
The project has already raised over $5.3 million, drawing investor attention with high-staking rewards and a unique Bitcoin-pegged rewards system.
BTCBULL is positioning itself as a speculative yet strategic bet on Bitcoin’s long-term potential, aiming to reward holders with real BTC as prices climb. The project has announced that its first Bitcoin airdrop will launch when BTC hits $150,000, with subsequent drops planned at every $50,000 milestone.
SOON. 🐂🔥 pic.twitter.com/abViwoxnm6
— BTCBULL_TOKEN (@BTCBULL_TOKEN) April 30, 2025
A deflationary burn mechanism will activate once BTC hits $125,000, and will continue reducing BTCBULL’s supply for every subsequent $25,000 increase in the Bitcoin price. By reducing supply, that will put upward pressure on the BTCBULL price.
BTCBULL also offers investors an attractive 78% annual staking reward, with more than 1.3 billion tokens already committed to staking.
The presale’s rapid growth has caught the eye of crypto influencers, with the 99Bitcoins YouTube channel, with over 725K subscribers, predicting a potential 10x surge post-launch.
Available at just $0.002495, BTCBULL can be purchased on the project’s official website using crypto or a bank card. Holding tokens in Best Wallet enables users to receive the Bitcoin airdrops automatically as BTC crosses key price thresholds.
Interested investors should buy BTCBULL before a price hike in about 2 days.
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