10% Bitcoin Boost? South Carolina’s Bold Move Could Change the Future of Cryptocurrency!

As regulatory attitudes change and more institutions adopt cryptocurrency, Bitcoin is catching a trend of positive momentum. Both retail and institutional investors have begun to gain more confidence in Bitcoin’s future, with the news of South Carolina dropping its lawsuit against Coinbase’s staking services following the announcement by Vermont, possibly indicating a shift in the regulators’ views of cryptocurrency. As always, Bitcoin has remained at the forefront of leading innovative financial market instruments, which are now being accepted by governments and financial institutions. All four of these factors can have a positive impact on retail and institutional investor sentiment in the complicated and ever-evolving landscape of cryptocurrency.

South Carolina’s Bitcoin Reserve Proposal Sparks Optimism

On March 27, South Carolina made another big move, as it introduced a bill that could permit the state to hold Bitcoin as part of the state’s reserves.  The measure would allow the state treasurer to invest allocations of up to 10% of certain accounts into Bitcoin, which further encapsulates BTC institutional adoption. This legislative development follows President Trump’s executive order this year establishing a U.S. Bitcoin reserve, further exemplifying the growing belief that BTC is no longer a speculation-based asset, as it now has a place as a funding strategy.  While 42 bills have been introduced in 19 states, Bitcoin is now engaging in mainstream financial services.

A Turning Point for Bitcoin’s Future?

Given multiple regulatory victories and more state institutions adopting Bitcoin, this is an optimistic trend. South Carolina’s exploratory effort to add BTC as a reserve asset could encourage other states to do the same. In addition, the increase in government interest in Bitcoin seems to strengthen its durability. As the enthusiasm builds, we want to discuss the recent price changes and technical indicators to evaluate what is in store for Bitcoin.

Price Analysis and BTC Price Prediction

With a steady upward trend at the beginning of the March 27 trading session, Bitcoin reached a day high of $87,735 by 03:00 UTC. An overbought RSI and a death cross, however, suggested a possible correction. The key levels of support and resistance were $86,545 and $87,795, respectively. Another MACD death cross at 10:40 UTC strengthened the negative trend, and at 13:20 UTC, a support test was conducted. Following a brief breakout, Bitcoin eyed resistance and recovered with a golden cross at 14:00 UTC. 

Chart 1, Analyzed by Alokkp0608, published on March 28, 2025.

Selling pressure continued despite attempts at recovery, and at 15:45 UTC, another death cross kept Bitcoin range-bound between $86,865 and $87,500. An attempted breakout was initiated by a golden cross at 21:30 UTC, but the enthusiasm was short-lived. A death cross at 2:00 UTC on March 28th indicated another rectification. Although the RSI indicated oversold circumstances, heavy selling pressure forced Bitcoin to set a new support level at $85,150 after support failed at 04:35 UTC. 

Bitcoin’s Next Move: Will Bulls Regain Control?

Bitcoin’s price dynamics reflect the back-and-forth between bullish recovery efforts and sustained selling pressure. While regulatory wins and growing BTC institutional adoption among U.S. states have helped strengthen the long-term buyer conviction, short-term market dynamics remain hawkish. The presence of multiple death crosses and breakdowns of resistance suggest caution among buyers, even as the RSI conditions are starting to become oversold. With the proposal of a Bitcoin reserve in South Carolina and changing heartstrings toward regulation, BTC is firmly establishing itself as a strategic reserve asset.

However, how much price stability there is still depends on whether the bullish momentum is sufficient to offset the selling momentum. If Bitcoin can sustain price action above support while breaking out of resistance, we may see another move upward. The BTC price prediction indicates that traders should monitor confirmation from signals like MACD and RSI to ascertain the subsequent course of action.