$USDC Bitcoin (BTC) has surged past $99,000, marking a significant milestone in 2025. This rally is driven by strong institutional demand, particularly from Bitcoin ETFs, and favorable macroeconomic trends. Analysts are closely watching the $100,000 level as a potential resistance point.

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๐Ÿ›๏ธ U.S. States Embrace Bitcoin Reserves

Texas is advancing legislation (SB21) to allocate $500 million annually for Bitcoin purchases, aiming to establish a state-level reserve. Similarly, Arizona has enacted a law to create a strategic Bitcoin reserve, signaling a bullish outlook for the cryptocurrency market.

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๐Ÿ“Š ETF Inflows and Market Volatility

QCP Group reports significant inflows into Bitcoin ETFs, contributing to increased market volatility. However, Franklin's Bitcoin ETF reported zero inflows on May 8, indicating potential short-term market indecision.

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๐ŸŒ Altcoin Developments

Ethereum (ETH): Trading around $1,897, Ethereum shows a 3.82% daily gain, with analysts eyeing a potential rise to $5,590 in 2025.

XRP: Vaultro Finance is launching the $VLT token on the XRP Ledger, aiming to enhance decentralized finance utilities.

Dogecoin (DOGE): Experiencing a 4.67% daily increase, Dogecoin continues to capture investor interest.

Solana (SOL): Trading at approximately $150.74, Solana remains a strong performer among altcoins.

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๐Ÿ—ณ๏ธ Political Influence on Crypto Markets

President Trump's involvement in cryptocurrency ventures, including launching a meme coin and investing in a new stablecoin, is complicating the progress of a bipartisan stablecoin bill known as the GENIUS Act. Concerns over potentia conflicts of interest have led to increased scrutiny and legislative challenges.