Texas Approves Bitcoin Reserve Bill – A Big Step for Crypto!
The state of Texas has officially passed Bill SB21, also called the Strategic Bitcoin Reserve Bill. This means the government of Texas can now buy and hold Bitcoin as a type of reserve, just like gold. The idea is to protect the state’s money from inflation and economic problems in the future. Texas is now one of the first U.S. states to treat Bitcoin as a serious long-term financial asset.
By supporting Bitcoin, Texas is showing it believes in the future of blockchain and wants to give people more financial freedom. This move may also encourage other U.S. states to start doing the same.
Why Did the #MarketCrash After Bitcoin Hit a New All-Time High?
Even though Bitcoin recently reached a new all-time high, the market suddenly dropped afterward. This surprised many traders. Here are some simple reasons why this happened:
Profit-taking: Many investors sold their Bitcoin after the price hit a record high to lock in profits. This selling pressure caused the price to fall.
Overheated market: The price went up too fast, and the market became unstable. A quick correction was expected.
Fear of regulations: Some news reports talked about possible new government rules for crypto, which made investors nervous.
High funding rates: In futures trading, the cost to hold positions became too expensive, which led to a big wave of forced selling (liquidations).
This kind of pullback is normal in crypto. Even strong uptrends need healthy corrections before continuing upward.
Final Thoughts
Texas is making a bold move by adding Bitcoin to its financial plans. While short-term price drops can happen, the long-term support from governments like Texas shows growing trust in Bitcoin. It’s clear that crypto is slowly becoming a part of the future financial system.
A fun math aside, on the idea of splitting a large zk proving workload between multiple provers.
Suppose you have N provers, and you have a proving workload that you split into N parts (so, one part per prover). You require provers to pre-register, but registration is open-access.
Suppose you have a constant fault rate (eg. 1/5 of registered provers fail). Provers expect to complete in one round (eg. 3s). If one prover fails, other provers have to come in and re-prove that load. How many rounds does it take for the entire workload to get proven?
Answer: log*(N)
(yes, that's the iterated-log function)
Why:
In the first round, you go from N unproven workloads to N/5 unproven workloads
In the second round, each remaining workload gets assigned 5 provers, so per-workload failure rate becomes 1 in 5^5. So you go to N / 5 / 5^5 unproven workloads
In the third round, each remaining workload gets assigned ~5^5 provers, so failure rate is 1 in 5^(5^5). So you go to N / 5 / 5^5 / 5^(5^5) unproven workloads
The $SPX bounce has been pretty insane, recovering back to its yearly open and is now green since Liberation day.
Although I've been loving this bounce after buying into tech stocks during the first week of April (shared on here), the sheer pace of this bounce is what makes me a little cautious. This recovery, although a smaller move, has only taken about a month. Compared to for example 3 months after the covid crash which was paired with massive stimulus. Something we don't have (yet).
I did scale out a good bunch of profits after most of the buys have been up 30-50% in the matter of weeks. Generally you expect those returns over 1-3 years on average. Not 4 weeks. So happy to scale out in that regard and have some cash on the side.
As for $BTC, it has been strong during the tariff drama but has kinda stalled against $SPX since the US/China "deal" was made. I would assume some higher low being created does put some pressure on BTC as well. If stocks go down and BTC holds up well then that'd be incredibly bullish but I think this mostly comes down to the pace of the sell off (when it comes).
Anyways, we'll see what we get. I think we've gone from sentiment expecting a 1929 depression repeat to a lot of good news being baked in now, within a 1 month time span. Expecting summer to be mostly choppy and don't like the risk/reward on equities much in the short/mid term.
If we get 5250 or 5500 I'll start slowly scaling back in exposure. For now I'm happy yielding 4-5% on the cash while I wait out what the market does next.
Ideal situation
BTC is going to 115k, dominance is going down, we have alt season - then correction
But many coins like FARTCOIN, POPCAT, AAVE, C98 etc have not so much bull potential - although on many coins there is no 5 global wave (elliot wave)
Should be really accurate now and wait little bit approval for setups
$BTC $ETH $SOL
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MARKET DUMP ALERT – WHALES PULL THE STRINGS AFTER $BTC ATH
The entire market just faced a sudden and sharp drop. $PEPE /USDT fell from a high of 0.00001462 to 0.00001303, erasing gains in minutes. This flash crash wasn’t random—whales took control right after Bitcoin hit a fresh all-time high.
This is a classic post-ATH shakeout, likely designed to trigger stop-losses, liquidate over-leveraged positions, and create fear before accumulation resumes. Volume remains extremely high, showing that smart money is still active.
Traders should stay calm and watch for key support levels to hold. The structure is still bullish on higher timeframes, and if recovery starts soon, this could end up being a fakeout before the next leg up.