{"id":624151,"date":"2025-02-05T08:21:17","date_gmt":"2025-02-05T08:21:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=624151"},"modified":"2025-02-05T08:21:17","modified_gmt":"2025-02-05T08:21:17","slug":"bitcoin-price-prediction-as-ohio-introduces-2nd-btc-reserve-bill-traders-rush-to-buy-this-ai-agent-pepe-with-445-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-as-ohio-introduces-2nd-btc-reserve-bill-traders-rush-to-buy-this-ai-agent-pepe-with-445-staking-apy","title":{"rendered":"Bitcoin Price Prediction: As Ohio Introduces 2nd BTC Reserve Bill, Traders Rush To Buy This AI Agent Pepe With 445% Staking APY"},"content":{"rendered":"

The Bitcoin price edged down a fraction of a percentage in the last 24 hours to trade at $98,101 as of 11:22 p.m. EST on trading volume that plunged 6% to $63.9 billion.<\/span><\/p>\n

This comes as Ohio Senator Sandra O’Brien introduced a second bill to allow the state to create a Bitcoin reserve. The Ohio Senate Bill 57 authorizes the state’s treasurer to invest state funds solely into BTC as a means to create an “Ohio Bitcoin Reserve Fund.”<\/span><\/p>\n

Bitcoin Price On A Sustained Consolidation<\/b><\/h2>\n

The <\/span>BTC price<\/span><\/a> chart analysis on the 1-day timeframe shows that the token has been trading within a defined range, with a clear resistance level around $107,000 and a support zone around the $90,000 level.<\/span><\/p>\n

The recent Bitcoin price spike above $108,000 was quickly rejected, pulling the price back into the range, according to data from <\/span>GeckoTerminal<\/span><\/a>. This rejection suggests strong selling pressure at the resistance level.<\/span><\/p>\n

BTC is currently hovering near the 50-day Simple Moving Average (SMA), acting as a dynamic resistance. A break above this level could signal renewed bullish momentum. The 200-day SMA is a key support zone, and any major breakdown could see the price of BTC retest at this level.<\/span><\/p>\n

Meanwhile, the Relative Strength Index (RSI) is at 45.47, which is in the neutral-to-bearish range. This suggests that WBTC has room to move in either direction, but it’s currently lacking strong momentum.<\/span><\/p>\n

The Stochastic RSI is at 20.34 (blue) and 16.40 (orange), indicating oversold conditions. This suggests a potential short-term bounce, but confirmation is needed before assuming a trend reversal.<\/span><\/p>\n

\"Bitcoin
Bitcoin Price Chart Analysis. Source: GeckoTerminal.com<\/figcaption><\/figure>\n

BTC Price Prediction<\/b><\/h2>\n

The Bitcoin price is consolidating in a well-defined range, with $107,000 acting as resistance and $90,000 as support. If BTC breaks above $107,000, it could enter a new uptrend toward $115,000-$120,000.<\/span><\/p>\n

Conversely, if the price of Bitcoin falls below the $90,000 support, it could signal a deeper retracement toward the 200-day SMA at $78,000. A breakdown below the 200-day MA would confirm a bearish trend reversal.<\/span><\/p>\n

Meanwhile, investors are rushing to buy a new AI agent crypto called <\/span>MIND of Pepe (MIND)<\/span><\/a>, which 99Bitcoins, a popular crypto channel on YouTube with over 724K subscribers, says has the potential to soar 20X after its launch.<\/span><\/p>\n