Bitcoin (BTC/USD) is currently trading at approximately $96,968, down 0.39% on Wednesday, as it tests a key resistance zone near the 23.6% Fibonacci retracement level at $96,959.
This price movement follows a strong recovery from the $95,178 support level, with the 50-hour Exponential Moving Average (EMA) at $95,385 now offering solid support in the short term.
The MACD indicator remains in positive territory, suggesting increasing bullish momentum for Bitcoin (BTC/USD). However, a decisive break above $97,000 is needed to confirm the next leg higher.
Immediate Resistance: $97,000 (23.6% Fibonacci Level)
Critical Support: $95,385 (50-Hour EMA)
Next Target: $97,717 (Key Resistance Level)
Potential Trade Setup:
- Take Profit: $97,717 (Next Resistance Level)
- Buy Above: $97,000 (Breakout Confirmation)
- Stop Loss: $96,100 (Below 50% Fibonacci Level)
New Hampshire’s Bold Move into Crypto Reserves; Bitcoin Gains
New Hampshire has made history as the first U.S. state to authorize government investments in cryptocurrency reserves, following the passage of House Bill 302, signed into law by Governor Kelly Ayotte in May.
The legislation allows the state treasury to allocate funds into digital assets such as Bitcoin, with a focus on established cryptocurrencies while explicitly excluding meme coins. This move positions New Hampshire at the forefront of crypto adoption among U.S. state governments.
With Bitcoin’s market cap now surpassing $500 billion, New Hampshire’s new legislation positions the state as a pioneer in integrating digital assets into government financial strategies—a move that could pave the way for greater institutional crypto adoption.
House Bill 302 makes New Hampshire the first U.S. state to permit crypto reserves, focusing exclusively on major digital assets like Bitcoin while explicitly excluding meme coins. This measured approach aims to balance innovation with financial prudence.
The law also aligns with growing Republican support for cryptocurrencies, echoed by figures such as Senator Cynthia Lummis and former President Donald Trump, both of whom have recently endorsed pro-crypto policy positions.
Key Highlights:
- First U.S. State to Allow Crypto Reserves
- Excludes Meme Coins, Focuses on Major Digital Assets
- Sets the Stage for Institutional Crypto Investments
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