BTC drops below 68,000 USDT

Indiana Bitcoin Rights Act passes both houses and enters final signing stage

The Indiana State Legislature has advanced Bill HB 1042, allowing public retirement and savings plans to invest in cryptocurrencies and protecting individuals' access to digital assets. The bill has currently been approved by both chambers and is awaiting the governor's signature.

Indiana passes Bitcoin Rights Act, allowing retirement funds to allocate crypto assets and support self-custody wallets

The Indiana State Legislature in the United States has approved HB 1042 "Cryptocurrency Regulation and Investment Act," allowing public retirement plans to invest in cryptocurrencies, protecting individuals' digital asset rights, restricting barriers set by public institutions, and establishing a fair tax environment. The bill will take effect in 2026, marking the gradual integration of crypto assets into the mainstream financial system.

Bitcoin hits $70,000 resistance and pulls back, while altcoins collectively surge, signaling a strong rotation.

Bitcoin has recently failed to break through $70,000, falling back to $68,300, with short-term high-level fluctuations. In contrast, various altcoins are performing strongly, with capital flowing into high-risk assets. The market still faces macroeconomic pressures, liquidity recovery is slow, and there is a risk of further pullbacks, reflecting a divergence between short-term rebounds and medium-term corrections.

Due to today's altcoin rebound strength surpassing BTC, the large whale betting 50 million on BTC, which was more resistant to decline than altcoins, experienced losses in both directions.

A whale holds approximately $24.8 million in BTC long positions and $26.4 million in altcoin short positions, currently with an overall loss of over $600,000. According to its hedging strategy, the whale is attempting to protect its assets during a market downturn, but recent market recovery has led to increased losses, especially as altcoins rebounded much faster than BTC, increasing the risk.