Texas expands Bitcoin acquisitions for strategic reserve
Texas' strategic Bitcoin reserve expansion could influence other states to consider digital assets, potentially reshaping public investment strategies.
Bitcoin’s correction has intensified pressure on holders as demand and supply remain locked in a key battle.
Nearly 40% of all Bitcoin in circulation was bought at prices higher than where it trades today, leaving a large share of holders sitting on losses. That figure, cited by analyst Darkfost, captures the strain building across the market as big players pull back from buying and demand shows little sign of recovery.
May 29, 2026, 1:00 pmCooling demand for Bitcoin ETFs adds to declining accumulation by whales, underscoring a trying time for the crypto market.
May 29, 2026, 12:39 pmTexas' strategic Bitcoin reserve expansion could influence other states to consider digital assets, potentially reshaping public investment strategies.
Bitcoin’s market cap has dropped below $1.5 trillion, pushing it out of the world’s top 10 assets amid AI stock and precious metal rallies.
Texas' move to direct Bitcoin custody sets a precedent for state-level digital asset management, potentially influencing other states' strategies.
Texas is hiring a crypto custodian to move its $10 million Strategic Bitcoin Reserve from BlackRock’s IBIT ETF into directly held coins and build full state‑level BTC plumbing.
Your day-ahead look for May 29,…
The BEA's April PCE print showed headline inflation at 3.8% year over year and core at 3.3%, broadly matching economist expectations and removing the risk of a fresh macro shock, leaving Bitcoin in the fragile middle ground it has occupied since losing $75,000, where macro panic has cooled.
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