(Arizona Bitcoin Reserve Bill) passed by the legislature, will become the first state in the U.S. to establish a Bitcoin reserve.
Bill SB 1373 proposes the establishment of a digital asset strategic reserve fund managed by the state treasurer, with funding sources including seized assets and legislative appropriations, allowing up to 10% to be invested in Bitcoin and other digital assets each fiscal year, and allowing borrowing without increasing risks. Bill SB 1025 permits the state treasury and pension systems to invest up to 10% of available funds in virtual currencies, with a focus on Bitcoin. The bill summary states, 'This bill represents an emerging practice by the state government to incorporate cryptocurrency into public financial management, reflecting the growing mainstream recognition of digital assets.'
Why hasn't the market continued to rise?
Core reason:
1. Not finalized: The governor has not signed, and there is still a possibility of veto (within 5 working days).
2. Symbolic significance > substantial impact: Specific reserve scale or capital inflow plans have not been announced, making it difficult to change supply and demand in the short term.
3. Current focus is not on policy: macro rates, industry regulation, and other issues dominate market sentiment.
Key Observation Point:
- After the governor's signature, is the purchase scale clearly defined?
- Will other states follow suit, creating a chain reaction?
- In the long term, can it force federal policy to ease?
BTC
Short-term: Focus on bearish OB at 96500-96980 above, bullish OB at 92400-91660 below, stop loss if broken! Waiting for buying opportunities in lower H4 bullish OB! Note: (OB: Order Block/Institutional Order Area)
ETH
Short-term focus on bearish OB at 1877-1904 above, bullish OB at 1710-1680 below, stop loss if broken, no trading in between!
SOL
Volatile situation: 153-156 above, 148-145 below!
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