Bitcoin has surged past $104,000, currently trading around $104,341 with daily trading volume nearing $40 billion. With a circulating supply of approximately 19.88 million BTC, the scarcity factor continues to support bullish sentiment. The upward movement comes amid significant developments in U.S. state policy and decentralized finance infrastructure.
Ohio Passes Groundbreaking Crypto Tax Relief Bill
In a major step forward for U.S. crypto adoption, the Ohio House has approved the Blockchain Basics Act (HB 116) with a 68–26 vote. The bill introduces:
- A $200 per-transaction capital gains tax exemption
- Legal protections for individuals holding self-custody crypto wallets
- Regulatory safeguards for miners against discriminatory zoning practices
The legislation now awaits Senate approval. If passed, Ohio could become a leader in crypto-friendly regulation and set a national standard for other states to follow.
Kraken and Babylon Labs Unveil Native Bitcoin Staking
Crypto exchange Kraken has partnered with Babylon Labs to launch a new native staking protocol for Bitcoin. This model allows users to stake BTC directly—without the need for wrapping, bridging, or lending. Investors can earn BABY tokens while keeping their Bitcoin on its original chain.
This innovation not only expands Bitcoin’s functionality into decentralized finance but could also reduce circulating supply, strengthening long-term price support. The move is expected to attract increased interest from both retail and institutional investors seeking secure passive income.
Technical Analysis: Bitcoin Prepares for Breakout Above $105K
Bitcoin’s 2-hour chart is forming an ascending triangle, with rising lows and a strong resistance level around $105,000. The 50-period exponential moving average sits near $105,252, providing additional technical support.
Traders are eyeing a potential breakout if BTC surpasses the $105,500 level. If confirmed, price targets could extend to $107,200 and $108,351. A stop-loss just below the $103,400 trendline is recommended for risk management. Supporting indicators include a stable MACD and candlestick patterns signaling momentum shift.
BTC Bull Token Presale Draws Interest Amid Market Optimism
The BTC Bull Token is gaining traction as Bitcoin flirts with $105K. With over $7.25 million already raised out of an $8.29 million cap, the presale is nearing its end. The token, priced at $0.00257, includes unique features such as automatic supply burns and airdrops tied to BTC price milestones.
A major attraction is its 58% APY staking pool, which offers full liquidity and zero withdrawal fees. As the cap approaches, investor demand is steadily increasing, positioning BTC Bull as a high-potential opportunity in the altcoin space.
Conclusion
Bitcoin is approaching a key resistance level near $105,000. With supportive legislative action from Ohio and the introduction of native BTC staking solutions, the market is being fueled by both technical and fundamental momentum. A breakout above $105,500 could signal the start of a new bullish wave in 2025’s crypto cycle.
