Bitcoin Remains Below $85,000 Amid Rising Institutional Interest

Updated: March 14, 2025, 00:21 GMT+3
By Alexey Davidenko

Alexey Davidenko: Author Profile

Alexey Davidenko is a leading journalist and analyst specializing in blockchain technologies and cryptocurrencies. He has authored more than 500 articles in the field.

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Current Bitcoin Market Landscape

As interest from institutional investors continues to grow, Bitcoin’s price remains below the $85,000 mark. Notably, video-sharing platform Rumble has recently added 188 BTC, valued at approximately $17.1 million, to its assets, showcasing Bitcoin as a hedge against inflation amidst ongoing changes in U.S. monetary policy.

Texas Paves the Way for Bitcoin Investment

In a significant move to bolster Bitcoin adoption, Texas has proposed an investment plan that could see up to $250 million allocated to Bitcoin (BTC). This legislative initiative, spearheaded by Representative Ron Reynolds, aims to empower the state’s controller to allocate funds for Bitcoin and other cryptocurrencies, allowing local governments to invest up to $10 million each.

If passed, the proposal, known as Bill 4258, will take effect on September 1, 2025. Additionally, related legislation, including Senate Bill 778 and Senate Bill 21, suggests the creation of a Texas Strategic Bitcoin Reserve and permits the state controller to invest in cryptocurrencies that have a market capitalization exceeding $500 billion, currently limiting investments to Bitcoin.

This initiative from Texas is poised to set a precedent for other states, potentially augmenting institutional adoption and confidence in Bitcoin on a broader scale. Should more government entities allocate funds to digital assets, this could significantly drive up demand and, consequently, Bitcoin’s price.

Market Dynamics: Bitcoin Faces Resistance Despite Altcoin Growth

While Bitcoin remains range-bound, the wider cryptocurrency market saw an increase of $40 billion following softer-than-expected inflation data in the U.S. Currently, Bitcoin trades at around $83,500, still struggling to break through the critical resistance level of $85,000, influenced by a continued outflow of funds from exchange-traded funds (ETFs) totaling approximately $1.5 billion this month.

In contrast, altcoins have experienced considerable growth. Pi Network (PI) surged by 22%, while Hedera (HBAR) increased by 6%, buoyed by speculation surrounding ETFs. Binance Coin (BNB) has also seen a modest rise of 2%. This resurgence in altcoins signals an increased risk appetite among investors.

Furthermore, the U.S. House of Representatives has voted to repeal a controversial cryptocurrency tax law. Meanwhile, Russia contemplates new limits on investments in digital assets, and Cantor Fitzgerald has announced a funding project in Bitcoin valued at $2 billion.

Bitcoin’s Technical Forecast: Can BTC Hold Above Key Levels?

The BTC/USD pair is currently testing critical resistance near $83,800, a level that has repeatedly hindered upward momentum. As of now, Bitcoin is trading at around $83,431, fluctuating near the 50-period Exponential Moving Average (EMA) of $82,973, a key short-term indicator.

A breakout above $83,800 could lead to price targets of $86,973 and $91,054. Conversely, failure to breach this resistance may result in BTC testing support at $78,529, with the next critical level sitting at $75,195. Short-term prospects for Bitcoin hinge on whether the outflow of funds from ETFs will decelerate and if new institutional inflows materialize. A daily close above $84,000 would confirm bullish momentum and indicate potential upward movement.

BTC Bull: A New Crypto Token with Community Rewards

Bitcoin holders are currently taking an interest in BTC Bull ($BTCBULL), a community-driven token that rewards holders with actual Bitcoin. Unlike traditional meme tokens, BTC Bull automatically distributes Bitcoin when significant price milestones are achieved, providing a compelling incentive for long-term investors.

Staking and Passive Income Opportunities

BTC Bull also features a high-yield staking system, allowing users to generate passive income with impressive annual interest rates of 154%. Millions of BTCBULL tokens are already involved in this staking initiative, indicating strong community engagement.

The current presale price for $BTCBULL is $0.002405, with a total of $3.4 million raised so far, nearing the goal of $3.66 million. Amid growing investor interest, this presale presents an opportunity to acquire BTCBULL at early-stage prices before for the next upward surge in the market.

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