Bitcoin to the Hit $90,000? Arizona Crypto Bills Might Be the Spark

Arizona is making strides in the crypto space with two new bills that could lead to a state-sponsored BTC reserve. The House Rules Committee has approved them, and now they will move to the Houe Floorate. If these two Arizona Crypto Bills pass, it could hold Bitcoin as part of its treasury and retirement system, which would have been ludicrous a few years ago. The bills would allow Arizona to invest up to 10% of its available assets into Bitcoin. Investors are clearly excited about this potential allocation.  Is this another step towards an everyday investment?

Arizona Leads in State-Level Bitcoin Adoption

Out of the two Arizona Crypto Bills, the first bill, SB 1373, seeks to create a digital asset reserve specifically out of confiscated assets from criminal cases. The second measure, SB 1025, involves the direct purchase of Bitcoin by the state treasury. This puts Arizona on the path with states like Texas and Oklahoma, which are also in the process of passing legislation related to Bitcoin. A state BTC reserve would represent yet another pool of demand for Bitcoin, reinforcing its viability as a store of value. There are many obstacles, not the least of which is the high veto rate of Governor Katie Hobbs, which also adds an element of unpredictability to the final bill becoming law.

How Could This Impact Bitcoin’s Price?

For investors in Bitcoin, this form of institutional investment should be a significant factor. A government-backed BTC reserve would add to the demand for Bitcoin and at a minimum, add more legitimacy to Bitcoin, which could assuage concerns, impacting long-run confidence. In the Short run, however, the prices will likely still be relevant to macro trends in the economy, such as inflation and interest rate policy.  As we dive into the technical analysis of BTC, we’ll break down BTC’s key support and resistance levels, momentum indicators, and overall market sentiments to see where prices might be headed next.

Price Analysis and BTC Price Prediction

The trading session on 24th March started on a bullish note with an uptrend channel. By 00:35 UTC, the prices surged to a high of $86,624. Shortly after, the selling pressure started developing when a death cross emerged, aligning with the oversold signal from RSI. This triggered a brief but steep decline before the market rebounded, continuing its upward trajectory. At 02:30 UTC, a golden cross appeared on the MACD, boosting the bull run rally. By 08:00 UTC, the BTC prices entered a new trading range, with key resistance and support levels standing at $88,600 and $86,500, respectively. The prices continue to soar with occasional resistance from the sell side following the bullish sentiments in the market.

Chart 1, Analyzed by Alokkp0608 published on March 25, 2025.

At 14:45 UTC, when the prices reached the crucial resistance level, a death cross emerged, coinciding with the overbought signal from RSI. While prices initially held around this level, selling pressure intensified. Another death cross at 20:15 UTC marked the start of a downtrend as sellers regained control. The prices have now neutered a downtrend channel, and the sell-side finally regained the hold. By the start of the new trading day on 25th March, the prices continued their downward trajectory with occasional recovery from buy-side pressure. The prices soon breached the support level briefly before a golden cross was constructed by 04:10, and the prices began to recover.

Institutional Interest vs. Market Volatility: Where Does BTC Stand?

The price action of Bitcoin over the last 24 hours illustrated a classic tug-of-war between bullish momentum and sell-side. Initially, the price moved higher with great buying interest and a golden cross on the MACD, but then resistance at key levels created multiple death crosses and a change in market sentiment. Once the sellers took back over, BTC sold off into a downtrend before finding support and attempting to recover.

While the potential for increased institutional demand for Bitcoin from Arizona crypto bills is a positive development for long-term expectations, short-term price action will still be influenced by technical and macroeconomic factors. Traders should pay attention to BTC’s ability to hold onto critical support levels and if the momentum can produce another breakout in the short term. The BTC price prediction indicates that traders should monitor confirmation from signals like MACD and RSI to ascertain the subsequent course of action.