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Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203 ) has advanced past the House Government Oversight Committee with a 12-2 vote and will now proceed to a full House floor vote. If enacted, the bill would integrate Bitcoin into the state’s financial planning. The bill, sponsored by Representative Cody Maynard and Senator Frix, received support from 12 committee members, with 2 opposing votes. Representative Hays was added as a coauthor. The committee has issued a “DO PASS” recommendation, signaling strong legislative backing. A recent tweet from Cointelegraph reports that the bill could allow Oklahoma to allocate 10% of public funds into Bitcoin or other digital assets exceeding a $500 billion market cap. While the bill does not explicitly mention these figures, multiple states, including Arizona and Utah, are exploring similar digital asset reserves. 🇺🇸 TODAY: Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203) has passed the House committee, advancing for a House floor vote next. The bill allows the state to invest 10% of its public funds into Bitcoin or any digital asset with a market cap of over $500B. pic.twitter.com/6TJl9JZsKd HB 1203 seeks to create a Bitcoin reserve owned by the state, which may involve savings accounts and pension funds. The reasoning is that Bitcoin is a valuable asset for stability due to its decentralized system and its supply is capped. Oklahoma can increase its financial stability by diversifying in digital assets. Its supporters argue it can make Oklahoma a blockchain leadership destination, attracting crypto-related businesses and investment. The move is in sync with other states, for example, Texas and Pennsylvania , which consider Bitcoin reserves. Its volatility, regulatory uncertainty, and security risk have been criticized. Critics argue public funds should not be left in market hands without firm protections. The bill will proceed for a vote on the House floor. If it is approved, it proceeds to the Senate before it can reach the Governor for signature. If it is signed, Oklahoma can potentially be among the first states in which Bitcoin is part of its monetary policy, setting a precedent for other states thinking about such a policy. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

The Bitcoin price action has confirmed a hidden bullish divergence , a pattern in the past correlated with strong upward movements in the crypto market . The analysts assert similar patterns have been preceded by major uptrends, which have impacted not only Bitcoin but other cryptocurrencies in the entire market. Hidden Bullish Divergence and Support Levels Crypto expert JavonMarks made this observation in a recent tweet, noting Bitcoin is following a hidden bullish pattern which previously led to one of the strongest market rallies. The post suggests, in the case of events repeating themselves, Bitcoin and other alts can make substantial profits. Bitcoin replicates and confirms a Hidden Bull Pattern which previously led into one of the markets most powerful rallies, including alts/altcoins! Are you ready ❓ $BTC pic.twitter.com/A9QWBYhWfx The upward-sloping trendline, which connects a series of higher lows, is shown in the chart. The RSI shows a concealed bullish signal in which it makes lower lows, as Bitcoin’s price makes a series of higher lows. This pattern, in its historical past, has indicated a continuation of an existing uptrend. The market price was at $88,907.28 at the time of writing, which reflects a slight 0.01% increase in the past 24 hours, though a 6.94% depreciation in the past week. If buying returns, Bitcoin can see a rally towards levels of major resistance. The Bitcoin price broke down below the lower edge of the Bollinger Bands, which is a signal of extreme bearish pressure. The major resistance is set at $91,987.71, and there is active resistance in position by the middle band of $95,645.45. The lower band of $90,399.99 is a point of vital support where buying can occur. Stochastic RSI, which is currently at 1.74 (blue) and 15.29 (orange), indicates Bitcoin is in an oversold situation. This is traditionally followed by short-term relief in case of a change of momentum in favour of the purchasers. For a definite change, however, the Stochastic RSI must cross above 20 and go in an upward direction. For traders, there is a conflicting set of signals in this current market. The short sellers can continue as long as Bitcoin is below $91,987. If selling is maintained, a new lower target is in the range of $80,000 – $82,000. The bulls have to see a Stochastic RSI crossover and re-taking of $91,987 before taking a long position. While Bitcoin is under selling pressure , there is a possibility of a short-run bounce based on oversold levels. If there is buying interest, Bitcoin can test levels of $92,000, which can lead to a wider market bounce. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Chainlink is trading in a possible reversal point after a lengthy downtrend. The TD Sequential on a daily time scale displayed a red “9” signal, which is a signal of possible exhaustion of selling. The traders are closely monitoring major support and resistance levels in anticipation of direction. Crypto analyst Ali_charts indicated TD Sequential flashed a buy signal on a daily time scale. The signal is typically the end of a downtrend, which can result in a bounce in price. The current pattern of a small-bodied doji is a signal of uncertainty in the market. LINK recently broke down below $15.00, but bounced back quickly, which is a sign of buying support on lower levels. #Chainlink $LINK appears ready for a rebound as the TD Sequential indicator flashes a buy signal on the daily chart! pic.twitter.com/SabLzw9QGA The current price is now testing a support of between $14.00 and $14.50. If this support is upheld, its subsequent resistance is in levels of $16.00 – $16.40. A breakout above this band can send LINK towards upper levels, while a breakdown can lead to downward movements. LINK broke down below a declining trendline, confirming a bearish trend. The price is now testing the 800 Exponential Moving Average of around $14.34. This is a classically firm support point. If LINK is maintained above this EMA, it can potentially trend towards the $17.50 resistance. Resistance is due at $16.40, a point of historical breakdown. If LINK trades below $14.34, further downward movement towards $12.00 – $13.00 is possible. The market players are monitoring these levels for trading opportunities. Stochastic RSI is currently in an oversold situation between 5.45 (blue) and 13.42 (orange). The occurrence of an upward crossover above 20 can be an indication of mounting buying pressure. The market value of ChainLink (LINK), as of writing, stood at $15.49 , a 5.55% increase in the last 24 hours but a 14.16% drop in seven days. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

XRP is in an uncertain situation as bearish momentum keeps rising, pushing down prices. The big head and shoulders breakdown, along with big whale sell-offs, have imposed great pressure. Crypto analysts explain that XRP broke down below a critical support neckline, confirming a downward trend. Prominent trader Steph_iscrypto identified the head and shoulders pattern, stating that XRP must breach above $2.40 in a bid to negate the bearish pattern. In another report, Crypto veteran ali_charts identified that whales have dumped over 370 million of XRP in the last 96 hours, which is fueling selling momentum. 🚨DANGER: MASSIVE HEAD AND SHOULDERS BREAKDOWN FOR #XRP PRICE NEEDS TO BREAK BACK ABOVE $2,40 TO INVALIDATE THE PATTERN pic.twitter.com/2tU6JIFONw The connection between these observations is apparent, since whale selling is part of what dissolved the identified head and shoulders pattern by Steph_iscrypto. With a great amount of selling momentum suppressing the market, its current pattern is now more powerful, making it difficult for XRP to retest lost support levels. This is a signal of overwhelming bearish sentiment in the market, and its movements rely on subsequent buying. Furthermore, combined technical observations of these sources support an argument for a strong bearish momentum for XRP. While Steph_iscrypto hinted at re-taking of $2.40, ali_charts clarified more on whale selling. This is in concurrence with other signals, for example, MACD and DMI, which support the dominance of sellers in the market. Indicators now point towards the current bearish momentum, and market players observe a change in the situation. Directional Movement Index (DMI) is in line with this bearish trend. ADX, a trend-strength indicator, is 36.2982, a powerful bearish trend. The -DI, a gauge of selling power, is well above the +DI, a gauge of buying power, confirming seller dominance. If selling pressure continues, it is achievable for XRP to test support of between $2.10–$2.00. If it fails to sustain above this support, it may continue its declines toward its subsequent downward goal of $1.48. If, on the other hand, it can be pushed above $2.50, it may negate the bearish pattern, which may see it bounce back. The traders keep a close eye on the price action of XRP, which is trading slightly above critical support levels. The market sentiment is dominated by large selling momentum, and traders can see further declines. However, a bullish reversal is possible in case of a revival of lost support levels. Its short term is being followed closely, as its current trend is downward unless it surpasses levels of resistance. At the time of writing, XRP was at $2.24 , down by 0.67% in the past 24-hour period and down 14.23% in the past seven days. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.