North Carolina Bets BIG: $8 Billion Retirement Fund Eyes Bitcoin!

North Carolina is taking a bold yet risky step towards implementing cryptocurrencies, with legislators introducing bills to invest a small amount of the state’s retirement funds in digital assets like Bitcoin.  Along with the proposed Senate Bill 709, the Investment Modernization Act (House Bill 506) would create a North Carolina Investment Authority — an independent authority that would determine what crypto assets are warranted within pension portfolios. If either were to pass, the proposed legislation would allow up to 5% of the state’s retirement funds to be invested in cryptocurrencies, stablecoins, NFTs, and other digital assets. The state is starting to view crypto not strictly as speculative assets but as a viable investment.

A Strategic Financial Innovation Plan

Along with the retirement fund bills, North Carolina Senators introduced a much more aggressive crypto initiative than just retirement funds — the Bitcoin Reserve and Investment Act (Senate Bill 327). The Act explicitly provides that a total of up to 10% of public funds should be earmarked for investment in Bitcoin as a financial innovation strategy to improve the state’s economic position. To protect the BTC reserve, it would be held in multi-signature cold wallets. The Act also provides that Bitcoin can only be sold if there is a two-thirds vote of the General Assembly during an economic “severe financial crisis.”

A Growing Bitcoin Institutional Adoption Wave

North Carolina’s crypto-friendly approach is part of a shifting landscape in the United States. There have been 41 BTC reserve bills introduced in 23 different states, with 35 currently active, and the demand for Bitcoin institutional adoption is becoming more serious. With more governments and institutions looking at Bitcoin as their reserve asset, the increased demand will likely be a major price catalyst. So, with this rising institutional interest, let’s do a Bitcoin price analysis to see how the market is reacting to this current wave of government-driven adoption.

Price Analysis and BTC Price Prediction

On March 25, the market opened strongly following the fall of the previous session. A death cross appeared at 01:15 UTC, and selling pressure quickly emerged, forming resistance and pushing Bitcoin into a downward channel. However, the downward channel was short-lived as buying pressure surged at 3:30 UTC when the RSI signaled an oversold market. A golden cross that emerged at 8:00 UTC gave the buy side the final boost it needed to regain the lead. Shortly after, the MACD confirmed an upward trend, and the prices soared. Bitcoin has now established new key resistance and support levels at $88,250 and $86,600, respectively.

Chart 1, Analyzed by Alokkp0608 published on March 26, 2025.

The prices began to rise toward the resistance level, encountering occasional pullbacks from the sell side, with death crosses forming at 10:20 UTC and 13:35 UTC. Bullish momentum continued to hold, sustaining Bitcoin’s upward trajectory into resistance despite these brief hiccups. Prices lingered around this level for several hours, making it difficult to break through. Finally, at 19:05 UTC, a golden cross gave the market the push it needed for a quick breach over resistance.

Bitcoin entered a downtrend channel at 20:35 UTC as a death cross emerged on the MACD, reinforcing selling pressure. Eventually, prices stabilized the slide by finding support at $87,215. By the start of the new trading day on the 26th of March, the coin prices continue to test the resistance level. At 04:05 UTC, a golden cross emerged, fueling a bullish surge toward the key resistance level of $88,250. However, a breakout attempt at 07:50 UTC failed, and the price is now hovering near the resistance zone.

Bitcoin Institutional Adoption Push Could Fuel a Price Rally

North Carolina’s recent decision to accept Bitcoin in state pensions is a reflection of the Bitcoin institutional adoption trend seen across the United States. With more states looking to hold Bitcoin as a reserve, the added institutional demand has the potential to be a large price catalyst. Although Bitcoin has recently had price fluctuations, Bitcoin’s technical indicators like its golden crosses and oversold RSI signals are continuing along with bullish momentum.

While Bitcoin has one last level of resistance at $88,250, it has been tested enough times to indicate a potential for a price breakout. If Bitcoin sees ongoing adoption, the price may see a sustained rally driven by increased confidence from mainstream capital flows into the asset. Detailed attention should be focused on each level of resistance and support as the market responds to this growing crypto trend, especially with BTC defined as an institutionally backed crypto.