Bitcoin continues to trade below $85,000 as institutional adoption picks up speed. With 188 BTC ($17.1 million) added to its assets, the video-sharing website Rumble positioned Bitcoin as an inflation hedge in the face of changing U.S. regulations.
Additionally, Texas is promoting a $250 million Bitcoin investment plan, which heightens anticipations of wider state-level uptake. However, ETF withdrawals have slowed the market movement and made investors cautious, and Bitcoin confronts resistance above $85,000.
RUMBLE JUST BOUGHT $17 MILLION WORTH OF #BITCOIN LET’S GO 🚀 pic.twitter.com/TmDSnx0o11
— The Bitcoin Conference (@TheBitcoinConf) March 12, 2025
Texas proposes $250M BTC fund, pushing institutional adoption
By proposing to invest up to $250 million in Bitcoin, Texas is furthering its pro-Bitcoin position and possibly establishing a precedent for other governments.
According to House Bill 4258, which was filed by Representative Ron Reynolds, local governments might invest up to $10 million apiece, and the state comptroller could allot funds to Bitcoin or other cryptocurrencies.
The bill would go into force on September 1, 2025, if it were approved.
Texas introduces new #Bitcoin reserve bill, seeks $250 million investment pic.twitter.com/ESE6I0R33m
— Crypto Briefing (@Crypto_Briefing) March 11, 2025
Senate Bill 778 and Senate Bill 21 are two more measures that would establish a Texas Strategic Bitcoin Reserve and let the state comptroller to invest in cryptocurrencies with a market value of more than $500 billion, which is now restricted to Bitcoin.
Texas’ action may serve as a model for other states, boosting institutional acceptance and public trust in Bitcoin. Demand may increase dramatically if more governments start investing in digital assets, which might raise the price of Bitcoin.
Bitcoin struggles below $85K as Altcoins rally on CPI data
Although Bitcoin is still range-bound, the whole cryptocurrency market saw a $40 billion increase after U.S. inflation statistics came in lower than anticipated. Despite rising to $83,500, Bitcoin is still below the important barrier level of $85,000 due to ongoing ETF withdrawals, which have totaled $1.5 billion this month.
However, altcoins witnessed more robust advances. Hedera (HBAR) increased 6% on ETF speculation, Binance Coin (BNB) gained 2%, and Pi Network (PI) surged 22%. As a result of investors’ greater willingness to take on risk, meme coins also saw growth.
I’ve said it before, and today’s CPI data proves it again: Bitcoin’s resilience is unmatched. With U.S. inflation cooling for the first time since mid-2024—CPI at 2.8%, below the expected 2.9%—BTC soared to $84,437, settling at $82,400. To me, this isn’t just noise; it’s Bitcoin…
— Cade O’Neill (@CadeONeill) March 12, 2025
In the meanwhile, Cantor Fitzgerald unveiled a $2 billion Bitcoin financing project, Russia is contemplating additional limitations on investments in digital assets, and the U.S. House of Representatives decided to overturn a contentious crypto tax law.
NEW: Cantor Fitzgerald launches global Bitcoin lending service for institutional clients, partnering with Anchorage Digital and Copper for asset custody. pic.twitter.com/a3nNyz3FL9
— Bitcoin News (@BitcoinNewsCom) March 12, 2025
Russia’s central park proposes three-year crypto trading experiment for qualified individuals
Targeting seasoned investors with substantial financial means, the project has been sent to the Russian government for additional evaluation.
Within a three-year trial term, the Central Bank of Russia has presented a fresh proposal to permit cryptocurrency trading for eligible persons.
Targeting seasoned investors with substantial financial means, the project has been sent to the Russian government for additional evaluation.
“Qualified” investors are defined by the central bank as those who earned at least 50 million rubles in income last year or who own more than 100 million rubles ($11.5 million) in stock investments and deposits.
Companies to participate in Russia’s crypto trading experiment
Companies who fulfill the legal conditions can also take part in the project.
For financial institutions interested in participating in the program, the central bank plans to create regulatory rules.
This initiative aims to create service standards, increase market transparency, and expand investment options for high-net-worth individuals who are prepared to assume more risk.
The central bank made it clear that it does not accept cryptocurrency as payment methods in spite of this forward-thinking action.
As a result, it intends to impose sanctions for non-compliance and limit settlements to only approved participants.
Russia’s position on cryptocurrencies has changed as a result of the proposal, which comes years after President Vladimir Putin approved legislation outlawing the payment of cryptocurrency assets in 2022.
The project is still aimed at high-level investors, even though it suggests a possible shift toward wider bitcoin use.
Concurrently, Russia has been investigating the use of cryptocurrencies to get over Western sanctions and is working to establish the financial framework necessary for international commerce based on cryptocurrencies.
JUST IN: 🇷🇺 Russia’s Central Bank to allow limited crypto purchases for investors. pic.twitter.com/EqvFmDHL9E
— BRICS News (@BRICSinfo) March 12, 2025
The Russian Finance Ministry stated last week that it does not currently have any intentions to establish a national strategic cryptocurrency reserve, but it stated that this might change if a crucial need is satisfied.
The ministry stated that before Moscow considers purchasing “riskier” assets like cryptocurrency, the National Welfare Fund’s (NWF) liquid fund level should be increased to a level equal to 7–10% of Russia’s GDP.
Elvira Nabiullina, the governor of the Russian Central Bank, is a well-known crypto-skeptic, as was previously documented.
Nabiullina has made many attempts to plan a complete, Chinese-style crypto prohibition in Russia.
Russia CBDC launch is ‘delayed indefinitely’
Russia postponed the launch of its digital ruble, or CBDC, indefinitely earlier this month.
The Central Bank has earlier said that July 1, 2025, will be the date of its nationwide implementation. However, the bank has declared in its latest disclosures that the planned launch will no longer happen.
Moscow will “move on with the mass implementation of the digital ruble somewhat later than originally planned,” Central Bank Governor Elvira Nabiullina said Russian media outlets at the time.
The Central Bank would examine the outcomes of its ongoing experiment more closely, she added.
She said that the bank planned to meet with commercial banks for fresh “consultation” sessions.
Nabiullina further suggested that further talks were needed on the “economic model” that is “most attractive to banks’ clients, businesses, and people [in general].”
Dogecoin price targets $3 as DOGE rebounds from key support
The price of Dogecoin has increased by 5.38% after rising from a crucial support level, and analysts predict a possible climb to $3 or above.
After recovering from a significant support level and aiming for a possible comeback toward $3, the price of Dogecoin is gathering positive momentum, rising 5.38%. In the meantime, the DOGE network has grown quickly; in the last month, the number of new addresses has doubled. The foundation for a major upward shift is laid by this expansion, which indicates a strengthening ecology.
Dogecoin price eyeing a parabolic rally to $3?
Dogecoin’s crucial location within a crucial price channel has been emphasized by cryptocurrency expert Ali Martinez. Martinez claims that DOGE is presently holding at a high level of support that may dictate its future course of action.
“If this support holds, we might see a rebound toward the mid or upper boundary of the channel,” Martinez noted, suggesting the possibility of a bullish recovery to $3 and beyond.
Additionally, the Dogecoin price may continue to rise parabolic in the future, according to the stock RSI. The DOGE price increased by 88% and 187%, respectively, in October 2023 and February 2024, when the stock’s RSI achieved a positive crossing. According to Martinez, the stock RSI is once again preparing for a bullish crossover on the weekly chart. Therefore, a significant rally may be in the works.
Dogecoin network sees significant growth in new addresses
Additionally, the Dogecoin network has been growing during the past month, according to expert Marinez. Over the previous month, the total number of new DOGE addresses has increased from 16,400 to 34,600, doubling. This rise demonstrates the Dogecoin network’s increasing popularity and uptake, which is indicative of its ongoing dominance in the cryptocurrency market.
A DOGE bull run is in the making
The price behavior of Dogecoin has shown a recurrent pattern that cryptocurrency trader Tardigrade believes might indicate a bullish trend. The trader claims that when the Relative Strength Index (RSI) moves into the oversold zone, DOGE usually makes an initial bottom. A second, lower low follows, and the RSI keeps the oversold reading consistent. According to Tardigrade, Dogecoin may be about to see a major DOGE bull run if this historical pattern continues.
The price of Dogecoin is up 5.7% at $0.172, and open interest for DOGE futures is up more than 4% to $1.40 billion. and 24-hour sales that had surpassed $7.24 million. However, Bitwise and other asset managers are lobbying for an ETF that would include Dogecoin, which might lead to significant activity for the meme coin.
