Bitcoin News: US States Embrace Cryptocurrency as Strategic Financial Future, Kentucky Leads with Blockchain Digital Asset Act

In a significant shift, US lawmakers are now viewing cryptocurrency as a strategic component of the nation’s financial future. Kentucky has taken a pioneering step by enacting the ’Blockchain Digital Asset Act’ (HB701), setting the stage for a crypto-friendly environment in the state.

US States Accelerate Crypto Mining and Bitcoin Reserve Bills in March 2025

Recent developments indicate a shift in US lawmakers’ perspective on cryptocurrency. They now view it as a strategic part of the financial future rather than just a speculative asset. Kentucky has made notable advances by signing the “Blockchain Digital Asset Act” (HB701) into law, protecting residents’ right to self-custody Bitcoin and legalizing and incentivizing crypto mining. The state aims to safeguard individual rights in the crypto space and position itself as a potential blockchain mining hub, leveraging its abundant energy resources from coal and hydropower.

Fidelity’s Timmer: Bitcoin wallet growth stalls – A warning for crypto adoption?

Bitcoin rebounds to $88K after a major slump, but wallet growth remains stagnant. Fidelity analysts question Bitcoin’s risk-adjusted returns compared to the S&P 500. Bitcoin [BTC] is regaining its bullish momentum after a significant downturn that saw its price plummet to a low of $78K following a peak of $109K. As the leading cryptocurrency makes a strong recovery, concerns remain about its underlying network growth. Jurrien Timmer, Director of Global Macro at Fidelity Investments, pointed out that BTC’s wallet count has shown minimal expansion over the past year. This raises questions about whether the latest price surge is fueled by organic adoption or short-term market speculation.

Will Bitcoin Hit New Highs in 2025? Analyst Says There’s a 75% Chance

Despite a mild 1.52% dip to $86,583, Bitcoin (BTC) is holding steady. According to leading market analyst Timothy Peterson, the odds of BTC setting a new all-time high within the next nine months are as high as 75%. Peterson, a well-regarded Bitcoin network economist, argues that with a combination of historical data, on-chain indicators, and strong technical support, Bitcoin is well-positioned for a bullish continuation. He highlights BTC’s current price as NEAR the lower end of its historical valuation band, giving it a high probability of bouncing significantly higher. Based on his models, Peterson projects a 50% short-term upside if BTC maintains stability above key levels.

Bitcoin Whales Resume Accumulation

On-chain data suggests that Bitcoin (BTC) whales have resumed accumulation after a brief period of dormancy. A seasoned crypto analyst highlighted a notable increase in BTC whale activity, with 48 new wallets now holding 100 or more BTC. This surge in whale accumulation often signals rising confidence in Bitcoin’s long-term value. The leading digital asset has climbed over 15% from its March 10 low.

Bitcoin Price Finds Support—But Can It Power Through $90K?

Bitcoin price remained supported above the $85,500 zone and has started a fresh recovery wave above the $87,000 zone. The price is currently trading above $87,000 and the 100 hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $88,200 on the hourly chart. If Bitcoin clears the $88,000 and $88,200 levels, it could start another increase.