Texas Moves Closer to Establishing a State Bitcoin Reserve with Bipartisan Backing

In a significant development for cryptocurrency adoption, Texas legislators have advanced a bill to create a state-funded Bitcoin Reserve. Senate Bill 21 (SB 21), modeled after New Hampshire's framework, passed its second reading with overwhelming bipartisan support (105-23). The proposed Strategic Bitcoin Reserve would not only hold Bitcoin but also allow the inclusion of altcoins—provided they maintain a market cap of at least $500 billion for two consecutive years. This move signals growing institutional acceptance of digital assets and could set a precedent for other states to follow. As of August 2025, this legislative progress demonstrates how Bitcoin continues to gain traction as a strategic reserve asset at the governmental level.

Texas Bitcoin Reserve Bill Advances with Strong Bipartisan Support

Texas legislators have taken a decisive step toward establishing a state-funded Bitcoin Reserve, with Senate Bill 21 (SB 21) clearing its second reading by a vote of 105 to 23. The bill, modeled after New Hampshire's framework, would allow altcoins to be included in the reserve—but only if they sustain a market capitalization of at least $500 billion for two consecutive years.

The proposed Strategic bitcoin Reserve positions Texas to become the third U.S. state to hold cryptocurrency as part of its treasury strategy. Market observers note the bill's unusually broad bipartisan backing, reflecting growing institutional acceptance of digital assets. A final vote is expected imminently, with analysts predicting smooth passage.

BlackRock’s IBIT ETF Poised to Overtake Satoshi as Largest Bitcoin Holder

BlackRock’s iShares Bitcoin Trust ETF (IBIT) is on track to become the biggest holder of Bitcoin, potentially surpassing the holdings attributed to Satoshi Nakamoto by mid-2025. The fund, managed by the world’s largest asset manager, currently holds 636,108 BTC, with institutional inflows accelerating its growth.

Satoshi Nakamoto, Bitcoin’s enigmatic creator, is believed to have mined approximately 1.12 million BTC in the network’s early days. These coins remain untouched, based on Sergio Demian Lerner’s 2013 "Patoshi pattern" analysis. Despite sporadic activity in early addresses, the funds linked to Satoshi have never moved, reinforcing speculation they may be lost permanently.

Bitcoin Price Builds Base — Consolidates Gains Ahead of Potential ATH Breakouts

Bitcoin's price action shows renewed bullish momentum as it establishes a firm base above $105,000. The cryptocurrency breached the $106,500 resistance level with conviction, signaling potential for further upside. Market participants now eye the $110,000 threshold as the next logical target.

Technical indicators reinforce the positive outlook. The breakout above a descending trendline at $106,400 on BTC/USD hourly charts (Kraken data) suggests weakening bearish pressure. Sustained trading above both the $106,000 level and the 100-hour moving average creates favorable conditions for continuation.

Liquidity pools appear to be building NEAR the $107,200 resistance zone. A decisive flip of this level into support could accelerate momentum toward all-time highs. The current consolidation phase represents typical market behavior after strong upward moves, allowing for position adjustments before the next leg.

Bitcoin Spot Buying Momentum Resurges on Binance as Market Dynamics Turn Bullish

Bitcoin's price surge beyond $105,000 has reignited bullish sentiment, with key metrics like the Spot Net Volume Delta flipping positive. Binance, commanding over 26% of global spot volume, shows particularly strong buying activity.

The shift in Spot Net Volume Delta suggests a potential resurgence in spot market demand. Analysts note this reversal follows an extended bearish period, indicating renewed institutional and retail interest in BTC.

As the dominant exchange by volume, Binance's market movements often presage broader trends. The current activity points to growing confidence in Bitcoin's near-term trajectory despite recent volatility.

Bitcoin Rebounds Amid Cautious Market Sentiment

Bitcoin's latest rally toward all-time highs lacks the typical euphoria, signaling a maturing market. The cryptocurrency has surged over 40% since early April, approaching $109,000, yet investor sentiment remains subdued. This restraint contrasts sharply with previous bull runs marked by HYPE and FOMO.

On-chain data reveals a healthier uptrend. CryptoQuant reports cooler funding rates and declining buy volume on Binance—hallmarks of sustainable growth rather than speculative frenzy. The absence of overheated leverage suggests institutional participation may be driving this phase.

Bitcoin's Volatility Tested as Long-Term Holders Shift Positions

Bitcoin's price action faces renewed pressure as long-term investors begin distributing holdings amid market uncertainty. The cryptocurrency has struggled to reclaim its $110,000 threshold for 120 consecutive days, despite growing institutional accumulation and corporate balance sheet allocations.

Market data reveals a strategic de-risking pattern among holders with 18-month to 3-year positions. Since November 2023, this cohort has offloaded over 2% of circulating supply—a MOVE historically associated with both profit-taking and subsequent bullish momentum formation.

Volatility remains Bitcoin's defining characteristic, simultaneously attracting smart money while testing investor resolve. The current distribution phase mirrors previous cycles where LTH sell-offs preceded major price expansions, suggesting potential accumulation beneath the surface.