Arizona Senate Approves Bitcoin Reserve Fund Legislation

In a pivotal move for cryptocurrency adoption, Arizona's Senate has narrowly passed House Bill 2324, marking a significant step toward establishing a state-managed Bitcoin reserve. The 16-14 vote on August 1, 2025, represents Arizona's second legislative effort this year to institutionalize cryptocurrency holdings, following Governor Hobbs' veto of a similar proposal in April. The newly approved legislation would create a Bitcoin reserve fund operating under revised unclaimed property laws, treating abandoned digital assets similarly to traditional forfeited property. This development signals growing governmental recognition of Bitcoin's role in state financial systems and could set a precedent for other states to follow. The bill's passage through the Senate, despite the close vote, demonstrates increasing political acceptance of digital assets as legitimate financial instruments. By framing Bitcoin under unclaimed property statutes, Arizona is creating a regulatory framework that could streamline future cryptocurrency integration into public finance. This legislative progress occurs amid broader institutional adoption of Bitcoin, potentially reinforcing its long-term value proposition as a reserve asset. Market analysts suggest such governmental endorsements may contribute to Bitcoin's price stability and could positively influence its future valuation as institutional demand grows.

Arizona Advances Bitcoin Reserve Fund Legislation

Arizona's Senate narrowly approved House Bill 2324, clearing a critical hurdle for establishing a state-managed Bitcoin reserve. The 16-14 vote marks Arizona's second legislative attempt this year to formalize cryptocurrency holdings, following Governor Hobbs' veto of a similar measure in April.

The proposed fund WOULD operate under updated unclaimed property statutes, treating abandoned digital assets like traditional forfeited property. This technical distinction separates it from the vetoed SB1025, which proposed direct BTC investments using seized funds. New Hampshire remains the only state to have fully implemented such a framework.

Legislative momentum for crypto reserves appears to be building across state governments, with Texas currently considering comparable measures. The developments reflect growing institutional recognition of digital assets despite persistent regulatory uncertainties.

Iran Internet Blackouts Drive Surge in Private DEX Activity as Centralized Exceptions Falter

Iran's internet blackouts and a reported hack on local exchange Nobitex triggered an unexpected surge in decentralized exchange (DEX) activity this week. Within 48 hours, four DEXs—PancakeSwap, Meteora, Uniswap, and Pump—generated over $2 million each in 24-hour protocol fees, climbing into DeFiLlama's top 10 rankings without memecoin HYPE or marketing pushes.

The organic fee spikes, composed entirely of swap charges and token launch activity, mirrored prior patterns in Nigeria and Turkey where DEX adoption rises amid centralized platform restrictions. PancakeSwap led with $13.6 million in fees, second only to Tether's Treasury yields, as users pivoted to permissionless alternatives during geopolitical disruptions.

Binance saw notable bitcoin reserve outflows during the incident, underscoring how decentralized infrastructure gains traction when traditional rails fracture. The event marks another stress test for crypto's parallel financial system—one where private, non-custodial tools increasingly absorb demand during crises.

Bitcoin Demand Momentum Hits Record Low as Short-Term Holders Exit

Bitcoin's demand momentum has plunged to its weakest level on record, with short-term holders rapidly offloading holdings. On-chain data reveals a 15% decline in BTC controlled by this cohort—down 800,000 BTC since late May—as profit-taking and waning retail interest disrupt typical bull-market accumulation patterns.

CryptoQuant's metrics show spot buying continues at a diminished pace, with 30-day demand growth nearly halving to 118,000 BTC. The exodus of speculative capital leaves long-term holders as the dominant market force, potentially signaling a consolidation phase before the next wave of institutional adoption.

Bitcoin Set for Major Breakout as Technical Indicators Signal Volatility

Bitcoin's tightening Bollinger Bands suggest an impending surge in volatility, with analysts eyeing critical resistance levels at $100K and $110K. The cryptocurrency's current consolidation phase mirrors historical patterns that often precede significant price movements.

A bullish ascending triangle formation reinforces the potential for upward momentum, with technical targets ranging between $109K and $118K. Market participants await confirmation of a breakout, which could catalyze the next major rally in Bitcoin's price trajectory.

The convergence of technical indicators points to a pivotal moment for Bitcoin. Tightening bands typically precede explosive moves, and the current setup aligns with previous instances that saw substantial price appreciation following periods of low volatility.

Off-Chain Bitcoin Trading Volume Surpasses On-Chain Settlements by 16x

Bitcoin's market dynamics are undergoing a seismic shift as off-chain trading volumes now dwarf on-chain settlements by a factor of 7 to 16, according to a Glassnode report. The migration of capital to centralized exchanges—particularly in derivatives—has become the dominant force, with open interest nearing $100 billion.

Despite Bitcoin's price hovering NEAR $112,000, just 6% below its all-time high, network activity tells a different story. Daily transactions have plummeted to 320,000–500,000 in 2025, down sharply from last year's peak of 734,000. The decline stems largely from reduced non-monetary usage like Inscriptions and Runes.

High-value transfers now anchor the network, averaging $36,200 per transaction. Transfers exceeding $100,000 continue to demonstrate institutional-grade activity even as retail participation wanes.

Bitcoin Buoyed by Trump's Delayed Decision on Israel-Iran Conflict, Analysts Flag $92K Risk

Risk assets, including cryptocurrencies, found relief as President Donald TRUMP signaled a potential two-week delay in U.S. military intervention in the Israel-Iran conflict. Bitcoin edged up 0.9% to $106,000, while the CoinDesk 20 index gained 0.77%. Oil prices dipped 1.7%, and European equities rose.

Trump's remarks slashed prediction market odds of near-term U.S. action from 70% to 40%, though a 62% probability remains for next month. "This hiatus keeps geopolitical risk on the table for markets," noted AJ Bell's Dan Coatsworth.

Despite stability, analysts diverge on crypto's trajectory. Glassnode observes subdued on-chain activity—a potential sign of institutional dominance with large, sporadic transactions. Meanwhile, CryptoQuant's report suggests...