Bitcoin price trading above $95,000 despite U.S. state crypto bills face setbacks. Can BTC still hit VanEck’s bullish forecasts target of $180,000 in 2025.
Bitcoin (BTC) faces U.S. state pushback, but price holds strong above $95K
The Bitcoin price remains steady above $95,000 following Florida’s withdrawal of two major crypto treasury bills.
Florida’s House Bill 487 and Senate Bill 550, which aimed to allocate up to 10% of certain state funds into Bitcoin, were “indefinitely postponed and withdrawn from consideration,” according to the state’s legislative record.
Bitcoin price action (BTCUSD), May 6, 2025 | Coingecko
Despite passing over 230 other laws this session, the Florida House and Senate did not advance the crypto-focused bills.
The session adjourned on May 2 without taking action on the proposed strategic reserve legislation, dealing a blow to U.S. state-level adoption plans. Florida now joins a list of states, including Arizona, Pennsylvania, Montana, and Oklahoma, where similar efforts have now hit legistlative roadblocks.
BTC price sentiment still strong as Arizona veto sparks renewed efforts
Arizona’s House Bill 1025, which would have allowed the state to create a digital assets reserve using seized funds, was vetoed by Governor Katie Hobbs on the same day Florida withdrew its bills.
Hobbs cited Bitcoin as an “untested investment” in her rejection letter, echoing concerns about state-level crypto exposure.
Dennis Porter says “two more chances” for Bitcoin reserve in Arizona |Source: X.com
Still, Arizona remains active in the legislative race. Dennis Porter, CEO of the Satoshi Action Fund, noted on May 5 that two more proposals are advancing.
HB 2749 proposes a “budget-neutral” method to build a Bitcoin reserve using unclaimed property fund profits. SB 1373 would allow up to 10% of Arizona’s treasury to be invested in digital assets.
Bitcoin price forecast still targets $180K, VanEck prediction holds amid legislative setbacks
Despite short-term political resistance, long-term Bitcoin price forecasts remain bullish. In December 2024, investment firm VanEck predicted the BTC price could reach $180,000 by 2025. The forecast assumes post-halving supply tightening, institutional inflows via ETFs, and continued macro demand for inflation-resistant assets.
Analysts suggest that if more states adopt neutral-funding methods, BTC reserve bills could quietly succeed without public opposition.
Several other states, including Alabama, Missouri, and Texas, which all have bills under review or in early review stages.
As advocacy groups like the The Satoshi Action Fund continues to lobby for nationwide adoption of strategic Bitcoin reserves, if even one state adopts a working reserve model, it could boost investor confidence and further support the Bitcoin price outlook toward $180,000.
Bitcoin Price Forecast Today: BTC Targets $97,000 Amid Bullish Technical Setup
Bitcoin price forecast today suggests continued upside toward the $97,000 zone, as price action maintains strength above key moving averages and technical momentum begins to reset for another leg higher. At press time, BTC price trades at $95,009, up 0.29%, with price holding firm after a minor pullback from recent highs just below $98,000.
During the recent dips on Monday and Tuesday, Bitcoin price remained well above the 50-day SMA ($90,552), 100-day SMA ($89,875), and 200-day SMA ($87,120). The breakout above $95,000 at press time on Tuesday reflecting constructive consolidation phase rather than corrective.
Bitcoin Price Forecast Today
The MACD indicator also shows declining histogram bars, holds its lines above zero, suggesting momentum remains in favor of bulls despite some short-term exhaustion.
Should BTC price hold close consecutive sessions above $92,000 the next major resistance lies at $97,000 and then $100,000.
Conversely, a decisive drop below the 50-day SMA would introduce a bearish reversal risk, with potential downside toward $89,000. However, with the higher low structure intact and no breakdown in moving averages or momentum shifts, bulls remain in on the front-foot.
The post Bitcoin Price to Hit $180K? Satoshi Fund CEO Reacts to Crypto Reserve Setbacks in Florida and Arizona appeared first on CoinGape.
