Tether announced plans to launch a new stablecoin product in the United States as early as the end of 2025 or early 2026. The timeline depends on how quickly the U.S. Congress moves forward with stablecoin legislation. Tether emphasized that regulatory clarity will be key to the rollout. CEO Paolo Ardoino also highlighted that USDT, Tether’s existing stablecoin, has become one of the most successful financial products globally and a strong export from the United States.
Amid the ongoing tariff war, Bitcoin (BTC), the world’s largest cryptocurrency by market cap, is poised for a massive price crash due to its bearish price action. In recent days, BTC appears to be consolidating within a tight range. However, upon closer examination, it seems to have formed a bearish head and shoulders pattern on the four-hour time frame.
Current Price Momentum
It seems like the market isn’t reacting to any positive news. Earlier, following Treasury Secretary Scott Bessent’s bold statement, BTC along with major assets began to rebound, but the upside momentum later faded and all gains were lost. Currently, BTC is trading near the $82,500 level and has recorded a price decline of over 1.10% in the past 24 hours. During the same period, its trading volume dropped by 50%, indicating lower participation from traders and investors due to notable market volatility.
Bitcoin (BTC) Technical Analysis and Upcoming Levels
According to expert technical analysis, with the recent price decline, BTC is heading toward the neckline of the bearish head and shoulders pattern.
Source: Trading View
Based on recent price action and historical patterns, if this momentum continues and BTC breaches the neckline at the $81,500 level, there is a strong possibility it could decline by 4% to reach the $78,200 level in the near future.
As of now, the asset is trading below the 200 Exponential Moving Average (EMA) on both the daily and four-hour time frames, indicating a strong downtrend and weak momentum.
Traders typically wait for a price jump to short the asset, which explains the recent price spike and subsequent drop within less than 24 hours.
$175 Million Worth of BTC Outflow
Despite the bearish outlook, investors and long-term holders seem to be accumulating the asset, as reported by the on-chain analytics firm Coinglass.
Source: Coinglass
Data from spot inflow/outflow reveals that exchanges have witnessed an outflow of approximately $175 million worth of BTC over the past 24 hours. Such outflow during a bearish market sentiment suggests potential accumulation.
While this can create buying pressure and trigger an upside rally, it typically occurs during a bull run.
The post Will Bitcoin Crash Again? Bearish Pattern Spotted appeared first on Coinpedia Fintech News
Amid the ongoing tariff war, Bitcoin (BTC), the world’s largest cryptocurrency by market cap, is poised for a massive price crash due to its bearish price action. In recent days, BTC appears to be consolidating within a tight range. However, upon closer examination, it seems to have formed a bearish head and shoulders pattern on …
Leading coin Bitcoin briefly soared above the $107,000 mark yesterday. It reached an intraday peak of $107,108, just 2% shy of its all-time high of $109,588, before retracing.
Although the leading cryptocurrency has since retreated slightly to $104,976 at press time, market sentiment remains firmly bullish, with on-chain indicators suggesting continued upward momentum.
Bitcoin Season is in Full Swing
According to data from Blockchain Center, the cryptocurrency market remains deep in “Bitcoin Season,” a period when BTC significantly outperforms the broader altcoin market.
As of this writing, only 16 (32%) of the top 50 altcoins have outperformed BTC over the past 90 days, far below the 75% threshold required to qualify as “Altcoin Season.”
Furthermore, Bitcoin’s rising dominance supports this position. Since plunging to a two-month low of 61.89% on May 16, BTC.D, a metric that tracks BTC’s share of total crypto market capitalization, has climbed steadily.
Interestingly, since May 14, TOTAL2, which measures the combined market cap of all cryptocurrencies excluding BTC, has trended downward. Currently standing at $1.18 trillion, it has plunged $83 billion over the past week.
This divergence suggests market participants are increasingly reallocating capital into BTC over altcoins.
The current trend signals that traders are doubling down on BTC’s resilience, especially as the king coin attempts to stabilize above the key $105,000 price mark.
BTC’s DMI Points to Strong Buying Pressure
On the daily chart, BTC’s Directional Movement Index (DMI) confirms the bullish pressure in the market. As of this writing, the coin’s positive directional index (+DI, blue) rests above its negative directional index (-DI, orange).
When an asset’s DMI is set up this way, it indicates that bullish momentum is stronger than bearish momentum. This signals a prevailing uptrend and buying pressure in the BTC market.
If this continues, its price could attempt to breach the resistance at $107,048, and rally toward its all-time high of $109,588.
Arizona Governor Katie Hobbs has vetoed another Bitcoin (BTC) reserve bill. House Bill 2324 sought to establish a ‘Bitcoin and Digital Assets Reserve Fund’ funded by criminal asset forfeiture.
This marks the third veto of a digital asset reserve bill in the current legislative session, highlighting a cautious approach to incorporating cryptocurrency into the state’s financial framework.
Arizona’s Bitcoin Reserve Bill Dies After Governor Hobbs’ Veto
However, the bill is now officially dead with Governor Hobbs’ veto. In her veto letter, addressed to House Speaker Steve Montenegro, she cited concerns over the legislation’s impact on local law enforcement.
“Today, I vetoed House Bill 2324. This bill disincentives local law enforcement from working with the state on digital asset forfeiture by removing seized assets from local jurisdictions,” the letter read.
This veto follows the rejection of two earlier bills, Senate Bill 1025 and Senate Bill 1373. The former aimed to permit the state to invest up to 10% of its public funds in Bitcoin or other digital assets.
SB 1373 proposed funding the Digital Assets Strategic Reserve Fund with digital assets seized by the state, additional funds appropriated by the Arizona Legislature, and permitted further state investments. Besides the reserve bills, Governor Hobbs also vetoed Senate Bill 1024. This would have allowed state agencies to accept cryptocurrency for payments such as fines, taxes, and fees.
Despite these vetoes, Arizona has not entirely abandoned the concept of digital asset reserves. HB 2749, signed into law on May 7, establishes a reserve funded by unclaimed property, including virtual currencies, airdrops, and staking rewards.
This bill does not authorize direct investment in cryptocurrencies. Still, it represents a compromise that avoids using state funds while still integrating digital assets into public finance. This aligns with her administration’s conservative approach to managing taxpayer money.
Meanwhile, Connecticut has adopted a more stringent stance. On June 30, Governor Ned Lamont signed a bill into law that prohibits the state and its subdivisions from accepting virtual currency for payments or from purchasing, holding, investing in, or creating digital asset reserves.
While opposition exists, the momentum for state-level Bitcoin reserves is still strong. According to the latest data from Bitcoin Laws, there are currently 17 active bills across eight different states. This indicates that, despite resistance, there is continued interest and effort in establishing Bitcoin reserves at the state level.
