Two U.S. States Make Waves in the Cryptocurrency World by Advancing Their Bitcoin Reserve Bills

This signals a shift toward digital asset adoption in state governance. On April 10, New Hampshire's House and Florida's House Banking and Insurance Committee took significant steps

Two U.S. states have made headlines in the cryptocurrency world with their advances on Bitcoin reserve bills, showcasing a unique angle on state governance and digital asset adoption. On April 10, both New Hampshire’s House and Florida’s House Banking and Insurance Committee took crucial steps towards establishing their own Bitcoin reserves. This development sets up the stage for higher Bitcoin adoption and economic innovation.

New Hampshire’s House passed HB302, a Bitcoin reserve bill, by a close vote of 192-170. If the bill gets approved by the Senate and signed into law by Governor Kelly Ayotte, it would allow the state treasury to invest up to 10% of the general fund in Bitcoin and precious metals. The bill includes strict guidelines, permitting investments only in cryptocurrencies with a market cap of more than $500 billion. This criterion is met only by Bitcoin as of now.

WATCH: New Hampshire House passes 'Bitcoin Rights' BillHB 639 protects self-custody, mining and node operations, and exemptions from money transmitter laws

During the debate, Democrat Representative Terry Spahr voiced concerns about the bill’s necessity and potential security risks. He stated, “Unbeknownst to the committee and to the sponsor […] the treasurer testified that they already have that authority.” Republican Representative Robert Merullo countered Spahr’s concerns with optimism, saying, “The potential for a large amount of money being earned by the state in these investments” makes this bill vital, he asserted.

Also on Monday, Florida’s House Insurance and Banking Committee took a unanimous vote to pass HB487, a Bitcoin reserve bill allowing 10% of state funds to be used to acquire Bitcoin. Republican Representative Webster Barnaby, the bill’s sponsor, pushed for his colleagues’ support, highlighting that it is a move that would “put Florida at the leading edge of this very new technology.”

WATCH: Florida House Committee PASSES Bitcoin Reserve BillThe Insurance and Banking Committee passed HB 487 unanimously todayIncluding moving testimony from bill sponsor Rep. Webster Barnaby

The bill provides several options to the government for direct Bitcoin adoption through the right sources or exchange-traded products while ensuring maximum security. To be passed as a law, the bill must go through three more committees and then gain a majority vote in Florida’s House.

The Florida Bitcoin Reserve Bill, published on X

As a scramble to establish Bitcoin reserves begins, Bitcoin adoption is bound to get a massive boost in the coming times. With that in mind, let’s take a look at how the Bitcoin price is performing on the charts.

Bitcoin price slumps as $81,700 resistance encountered

Bitcoin began the day with a price of $82,500. A death cross later that day sent Bitcoin into a slow downward trend. By 4:35 (UTC), Bitcoin reached $81,600. For the rest of the morning, Bitcoin seemed to be pivoting around the same price, as a lack of buying pressure was noticed. Slight movements were also sparking the RSI into the overbought region, as the uptrend met severe resistance at $82,315. At 13:30, Bitcoin finally broke out of the range, abandoning the $81,500 support. One final attempt came at 14:00 (UTC), but was met by rejection at $81,714.

Chart 1: published on TradingView, April 11, 2025

Bitcoin price saw a sudden drop in the next two hours, falling to $78,600, thanks to the big death cross on the MACD at 15:05. With the RSI in the oversold region, a trend reversal came in for Bitcoin, but the buying pressure failed to take advantage of the conditions as the BItcoin price plateaued around the $80,000 mark and faced reversal. Early on April 11, however, an uptrend formed, as Bitcoin was seen climbing to $81,000 as of the latest update.

Can Bitcoin stably go to $82,000 today?

The late slump yesterday seems to have reversed some of Bitcoin’s progress in the past few days. Given that, Bitcoin again seems to be facing a challenge at $82,000. As of now, with Bitcoin peaking on its current uptrend and the RSI looking ready to go overbought, a reversal back to support seems the likely play. If Bitcoin can prevent itself from falling to the support and find a trend reversal closer to the resistance, a resistance break may be on the cards.