Ohio’s Progressive Stance on Bitcoin: Tax Exemptions and Mining Support

The Ohio House of Representatives has taken a significant step towards fostering cryptocurrency adoption by approving the Blockchain Basics Act. This groundbreaking legislation introduces a $200 capital gains tax exemption for Bitcoin users, easing minor tax burdens and encouraging broader participation in the digital asset ecosystem. Beyond tax relief, the bill provides crucial protections for crypto holders, banning restrictions on cryptocurrency payments and safeguarding self-hosted wallets. The legislation also signals strong support for both residential and industrial Bitcoin mining operations, positioning Ohio as a forward-thinking hub for blockchain innovation. These developments, occurring in mid-2025, demonstrate growing governmental recognition of cryptocurrency's role in modern finance and could serve as a model for other states considering pro-crypto policies.

Ohio House Approves Bill Exempting ‘Bitcoin Users’ From Minor Tax Burden

The Ohio House of Representatives has advanced the Blockchain Basics Act, a legislative proposal that would grant crypto users a $200 capital gains tax exemption. The bill also seeks to protect digital asset holders by prohibiting state and local governments from restricting cryptocurrency payments or interfering with self-hosted and hardware wallets.

Residential and industrial crypto mining operations WOULD receive additional safeguards under the proposed law. Mining businesses in industrial zones could continue operating if they meet existing requirements, while local governments would be barred from rezoning areas with mining operations without proper notice and comment periods. The bill now moves closer to potential enactment by Governor Mike DeWine.

Bitcoin Leverages Drop: Is $104K the Bottom Before the Next Bull Run?

Bitcoin's momentum reflects growing institutional and retail adoption, with major corporations increasingly integrating the cryptocurrency into their financial strategies. The asset is now perceived as a viable store of value and investment vehicle, signaling its maturation in global markets.

BTC currently trades at $104,491.88, showing minimal 24-hour volatility with a 0.02% dip. Trading volume declined 2.94% to $51.74 billion, while the weekly chart reveals a 4.84% correction. This price action suggests a consolidation phase following months of heightened volatility, as market participants await clearer directional signals.

Derivatives markets show notable deleveraging, with the 180-day Open Interest Delta turning negative. Bitget leads exchange-specific reductions with a $7.42 billion OI decline, followed by CME's $3.93 billion drop. These metrics indicate traders are unwinding speculative positions amid uncertain market conditions.

How to Cash Out Crypto: Best Ways to Spend Digital Assets in 2025

The landscape for spending cryptocurrency is evolving rapidly, with 2025 poised to offer more practical avenues for converting digital assets into everyday purchases. While direct crypto acceptance remains limited to niche retailers, innovative solutions like crypto-to-gift-card platforms are bridging the gap between blockchain and mainstream commerce.

Platforms such as Cardstorm demonstrate the growing maturity of crypto utilities, enabling instant conversion of Bitcoin and other major cryptocurrencies into spendable Visa prepaid cards or branded gift certificates. This approach sidesteps merchant adoption hurdles while offering near-universal usability at competitive exchange rates.

Bitcoin’s $103K Liquidity Wall Acts as Key Support Amid Market Uncertainty

Bitcoin dipped 2% to $104,970 as geopolitical tensions weighed on crypto markets. Trading volumes remain subdued, reflecting investor caution.

On-chain data reveals a critical liquidity cluster near $103,000, where concentrated buy orders create a strong support floor. Coinglass's liquidation heatmap shows this zone absorbing selling pressure, with Leveraged positions defending the level.

The $103,221 threshold has emerged as a make-or-break technical level. Market structure suggests institutional buyers are accumulating at this price point, preventing steeper declines despite macro headwinds.

Who's Selling Bitcoin Above $100K and Holding Back the Price Rally?

Bitcoin's bull market has stalled despite strong spot ETF inflows, stablecoin growth, and favorable U.S. regulatory developments. The cryptocurrency remains range-bound between $100,000 and $110,000, marking a record 42 days of sideways trading above the six-figure threshold.

Alexander Blume of Two Prime notes a shift in market dynamics as bitcoin transitions from speculative trading to long-term investment. "Geopolitical uncertainty is prompting leveraged players to exit while new investors accumulate," he observes. Glassnode data reveals short-term holders are driving profit-taking, with wallets holding coins under one year accounting for 83% of realized gains on Monday.

The market faces unique crosscurrents as $904 million in selling pressure emerged from wallets holding coins for 6-12 months - the second-highest YTD outflow. This stealth distribution counters institutional ETF demand, creating equilibrium at current price levels.

Ricardo Salinas Expands Bitcoin Position Amid Market Volatility

Ricardo Salinas Pliego, Mexico's third-wealthiest individual and founder of Grupo Salinas, has deepened his commitment to Bitcoin despite recent market turbulence. In an interview with Kitco News, Salinas confirmed a substantial increase in his Bitcoin holdings over the past week, reinforcing his view that the cryptocurrency represents the future of global finance.

The digital asset currently trades 7% below its $112,000 peak, with geopolitical tensions in the Middle East contributing to the pullback. Salinas characterized his latest acquisitions as strategic rather than reactive, emphasizing long-term conviction over short-term market timing. "This isn't about catching dips," he noted, "but about positioning for a financial paradigm shift."

While maintaining discretion about exact purchase amounts, Salinas revealed the recent accumulation represents a material addition to his portfolio. The billionaire already allocates 70% of his investments to Bitcoin and has publicly contemplated going "all in" on the asset class. His latest moves suggest accelerating progress toward that threshold.