- The request for Bitcoin by sovereign funds has skyrocketed in recent years.
- Bitcoin Price is expected to record a parabolic rally in the coming months after resuming $ 100,000.
The momentum for the approval of Bitcoin Strategic Reserves (SBRS) at the level of the State has gained significant traction after New Hampshire And Arizona paved the way. According to Dennis Porter, CEO and co-founder of the Satoshi Action Fund, there is a good chance that two other American states will approve and sign SBR invoices in less than 60 days.
“It’s not just me guesses. note.
Among the other probable states to approve SBR invoices UtahEspecially after the blockchain bill and the changes in digital innovation adopted a chamber committee with a vote of 8-1 earlier this year. Texas is also another state likely to approve the SBR bill in the next two months.
Impact of SBRs on the action of the Bitcoin price
The growing demand for Bitcoin by sovereign funds in addition to institutional investors played a crucial role in the underlying bullish feeling. In addition, the index of fear and greed of Bitcoin increased to more than 70%, signaling overall greed of the market.
In the past few days, Bitcoin price Gold has exceeded gold and the wider stock market to rally beyond $ 100,000 for the first time since US President Donald Trump took office earlier this year.
According to KalshiA prediction market platform based in the United States, Bitcoin Price is likely to join a peak of $ 131,000 before the end of 2025.
From the point of view of technical analysis, the price of bitcoin reflected the 2017 Haussier market cycle, thus signaling the appearance of the highly anticipated parabolic rally in the coming months.