Bitcoin market as of May 8, 2025:
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š Market Overview
Bitcoin ($BTC ) is currently trading at $99,563, reflecting a 2.6% increase from the previous close. The day's trading has seen a high of $100,131 and a low of $95,959.
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š° Recent News Highlights
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šļø Regulatory and Institutional Developments
New Hampshire Establishes Bitcoin$BTC Reserve: On May 6, 2025, New Hampshire became the first U.S. state to establish a strategic Bitcoin reserve, allowing the state treasurer to invest in digital assets with a market capitalization of at least $500 billion, currently including only Bitcoin.
U.S. Strategic Bitcoin Reserve: In March 2025, President Trump signed an executive order to establish a Strategic Reserve, aiming to position the U.S. as a leader in digital assets. The reserve is funded by forfeited $BTC held by the Treasury and is part of a broader initiative to integrate cryptocurrencies into national financial strategies.
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ā ļø Mining Sector Challenges
Bitcoin miners are experiencing tight profit margins, with hashpriceāa measure of mining profitabilityādropping below $40. This decline indicates increased operational pressures within the mining industry.
