Market
Why Bitcoin Reserve Bills Fail: VeChain Executive Weighs In

In an interview with BeInCrypto, Johnny Garcia, Managing Director of Institutional Growth and Capital Markets at VeChain Foundation, addressed the rejection of Bitcoin (BTC) reserve bills. He emphasized that the core issue goes beyond legislative resistance—highlighting the need for greater education for both the public and policymakers.
His remarks come as five states have already dismissed the legislation. As of now, only 18 states are still considering the possibility of integrating digital assets like Bitcoin into their financial systems.
VeChain’s Executive Weighs In on Bitcoin Reserve Bill Rejections
Garcia pointed out that establishing federal or state Bitcoin reserves could drive innovation by modernizing investment frameworks and enhancing operational capabilities.
“This would bring all the benefits we in crypto are quite familiar with: transparency, immediate settlement, managing counterparty risks—to name a few,” Garcia told BeInCrypto.
Yet, he acknowledged that skepticism persists. Garcia noted that many are still unconvinced about a Bitcoin reserve’s utility and economic sense. The debate becomes even more complex when considering funding sources.
“Not every citizen in a given state will agree with their taxes financing crypto purchases—something they could just do themselves,” he commented.
Thus, Garcia emphasized that states would need to focus on educating their citizens about the purpose and objectives of including Bitcoin in their reserve portfolios. He stressed that while regulatory frameworks are crucial, success hinges on demonstrating real-world value beyond speculation.
“The blockchain/DeFi industry needs to step up and show that it can deliver proven solutions that go beyond speculative investment and offer real-world value,” Garcia remarked
He added that to truly change the minds of political and governmental stakeholders, especially those who are instinctively skeptical of crypto, the solutions must extend beyond financial considerations. The exec emphasized that blockchain technology needs to demonstrate its ability to address a broader range of problems.
Garcia highlighted VeChain as a prime example of how blockchain can tackle both new and ongoing issues. He drew attention to VeChain’s use of blockchain to verify sustainability efforts. Garcia noted that such applications make it harder for lawmakers to ignore the technology’s real-world value beyond finance.
Cryptocurrency Reserve Bill Rejections Don’t Represent a Unified View on Crypto
Meanwhile, Garcia cautioned against viewing the rejections at the state level as blanket opposition to cryptocurrency.
“I wouldn’t say this necessarily reflects deeply ingrained opposition to the concept of crypto in the form of reserves, stockpile, or just another alternative investment option,” he shared with BeInCrypto.
According to Bitcoin Laws, a total of 33 Bitcoin reserve bills were introduced in 23 states. However, Montana, Wyoming, North Dakota, Mississippi, and Pennsylvania have rejected the legislation that would have allowed state investments in digital assets, including Bitcoin.

Currently, there are 27 active bills in 18 states. Importantly, Utah, which was once at the forefront of the Bitcoin reserve race, recently dropped out on a technicality. The Utah bill is still progressing but without the ‘Bitcoin Reserve’ provisions, which have been removed.
Garcia offered a more nuanced view of the legislative resistance. According to him, although several states have voted against reserve bills, the opposition often comes by small margins.
He encouraged assessing the specific reasons behind the rejections rather than generalizing. Gracia also welcomed that states are taking the time to consider the issue carefully.
As states navigate their own approaches to cryptocurrency, momentum is growing at the national level. Senator Lummis has reintroduced the BITCOIN Act. This came shortly after former President Trump signed an executive order to create a strategic Bitcoin reserve funded with seized Bitcoins.
Originally introduced in July 2024, Lummis’ BITCOIN Act failed to pass out of Committee in the Senate.
“I am proud to reintroduce landmark legislation that will codify President Trump’s bold vision to establish the United States Strategic Bitcoin Reserve and strengthening our nation’s economic foundation for generations to come,” Lummis wrote on X.
The bill aims to create a US Strategic Bitcoin Reserve, backed by up to 1 million BTC acquired over five years. Moreover, the holdings would be maintained for at least 20 years.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Pi Network (PI) Struggles to Reclaim $2

After hitting a peak of $2.99 on February 27, Pi Network is down nearly 40% in the past two weeks. Technical indicators suggest that PI momentum is stabilizing.
The DMI shows that buying pressure has surged in the past two days, but the ADX has declined, signaling that the strength of the trend may be weakening. Meanwhile, RSI has spiked from oversold levels, approaching overbought territory, which could either lead to consolidation or a continuation toward key resistance levels.
PI Network DMI Shows Uptrend Is Still Here
PI’s DMI chart indicates that the Average Directional Index (ADX) has declined to 30.6 from 36.5 over the past two days. ADX measures trend strength, with values above 25 generally indicating a strong trend, while values below 20 suggest a weak or consolidating market.
A rising ADX signals strengthening momentum, whereas a declining ADX suggests a weakening trend, even if price action continues in the same direction.
The current drop in ADX suggests that while PI remains in an uptrend, the momentum behind this movement is softening.

Looking at the Directional Indicators (+DI and -DI), +DI has surged to 27.3 from 12.3 two days ago but has remained stable since yesterday, while -DI has sharply dropped to 14.9 from 29.3. This shift indicates that buying pressure has significantly increased over the past two days, overwhelming prior selling pressure.
However, with +DI now stable and ADX declining, the strong buying momentum seen earlier may be fading. This doesn’t necessarily mean an immediate reversal, but it suggests the uptrend could slow or enter a consolidation phase unless renewed buying strength pushes the ADX back up.
Pi Network RSI Surged In The Last Two Days
PI’s Relative Strength Index (RSI) has climbed sharply to 60.90, up from 34.8 yesterday and 19.5 four days ago. RSI is a momentum oscillator that measures the speed and magnitude of price movements on a scale from 0 to 100.
Generally, RSI values above 70 indicate overbought conditions, suggesting potential for a pullback, while values below 30 signal oversold conditions, often preceding a price recovery.
The rapid rise from deeply oversold levels to near 61 suggests a strong shift in momentum, with buyers regaining control.

With PI’s RSI touching 68 earlier and now sitting at 60.90, it is approaching overbought territory but has not yet crossed the critical 70 threshold.
The fact that PI hasn’t surpassed 70 since February 27 suggests that this level has historically acted as a barrier, potentially triggering profit-taking or a temporary slowdown.
If RSI stabilizes near its current level, PI could consolidate before making another push higher. However, if it surges past 70, it would signal extreme bullish momentum, though that also increases the likelihood of a short-term correction.
PI Can Reclaim $2.35 Levels Soon
PI price is currently trading within a key range, facing resistance at $1.82 while holding support at $1.57. If the current uptrend persists and buyers manage to push past $1.82, the next target would be $1.98.
A break above this level could open the door for a stronger rally, especially if PI regains the positive momentum seen last month. In that scenario, the price could extend its climb toward $2.35, reinforcing a more bullish outlook.
However, clearing these levels would require sustained buying pressure and a breakout confirmation above $1.82.

On the downside, if PI’s trend reverses, it could retest its immediate support at $1.57.
Losing this level would weaken the bullish structure and expose the price to further declines, potentially testing $1.35. If selling pressure intensifies, PI could drop even further to $1.23, marking a deeper correction.
The strength of the support at $1.57 will be crucial in determining whether the current uptrend holds or if PI enters a more extended pullback phase.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP Bulls Struggle To Break Key Resistance At $2.2546: What’s Next?

XRP bulls are making a strong push, but the $2.2546 resistance level is proving to be a tough barrier. After a steady upward climb, buying momentum has weakened as sellers step in to defend this key level. A successful breakout could signal a continuation of the uptrend, driving XRP toward new highs and reinforcing positive sentiment in the market.
However, if buyers fail to overcome this hurdle, XRP may face a pullback, with traders eyeing lower support levels for stability. Market participants are closely monitoring whether the bullish momentum is strong enough to push past the resistance or if selling pressure will force a temporary retreat.
Market Sentiment And XRP’s Resistance Struggle
Market sentiment remains a key factor in XRP’s ongoing battle against the $2.2546 resistance level. While bulls try to drive the price higher, the lack of strong follow-through suggests lingering uncertainty among traders. The resistance level has become a critical test, with buyers needing to sustain momentum to confirm a breakout.
Broader market conditions, including Bitcoin’s movement and overall investor confidence, are influencing XRP’s price action. A surge in trading volume and renewed buying pressure could provide the necessary strength for a breakout. However, if sellers continue to defend this level, XRP may struggle to gain further ground, leading to potential profit-taking and a short-term pullback.
Furthermore, after crossing above the 50% mark, the RSI is now dipping below it, creating uncertainty among traders. This shift reflects a tug-of-war between buyers and sellers, leaving XRP in a state of market indecision. Without a clear directional push, price movement could remain volatile as traders await stronger signals for the next move.
For the bulls to regain control, market sentiment must shift decisively in their favor, with technical indicators aligning to support an upward push. Until then, XRP remains at a crossroads, with both breakout and rejection scenarios still in play.
Breakout Potential: What Needs To Happen?
For XRP to break above the $2.2546 resistance level, bulls must generate strong momentum backed by increasing buying pressure. A sustained push beyond this critical level, confirmed by a decisive daily close, might set the stage for further gains. Its ability to stabilize above $2.2546 may attract more traders looking to ride the breakout, potentially driving the price toward higher targets such as $2.6482 and $2.9272.
Also, XRP’s price must break above the 100-day SMA, and the RSI needs to rise above the 60% threshold. Breaking above these levels could pave the way for more growth, while failure to do so may leave XRP vulnerable to consolidation or a pullback.
Market
Cardano Whales Sell Off as ADA Faces Market Uncertainty

Cardano (ADA) has struggled over the past week, dropping more than 23% and remaining below $1 for over seven days. Despite this bearish pressure, technical indicators suggest that the current downtrend may be losing strength.
ADX readings show that selling momentum is fading, while whale addresses continue to decline, signaling that large investors have been offloading their holdings. Given these indicators, ADA price could soon test key resistance levels at $0.64.
Cardano’s Current Downtrend Is Fading
ADA’s Average Directional Index (ADX) has dropped to 23.4, declining from 34 yesterday and 37 two days ago. ADX is a key indicator used to measure the strength of a trend, regardless of direction, on a scale from 0 to 100.
Generally, readings above 25 indicate a strong trend, while values below 20 suggest weak or consolidating market conditions. A falling ADX signals that the current trend is losing strength, even if price movement continues in the same direction.
With ADA’s ADX declining significantly, it suggests that the ongoing downtrend may be weakening.

Since Cardano remains in a downtrend, the ADX drop to 23.4 indicates that bearish momentum is slowing, though it has not fully disappeared.
If ADX continues to decline and falls below 20, it would suggest that selling pressure is fading, potentially leading to consolidation or a reversal. However, for a true trend shift, ADA would need buying volume to increase alongside a rise in ADX, confirming renewed strength.
If the ADX stabilizes near current levels and turns upward again, the downtrend could regain momentum, keeping ADA under pressure in the short term.
ADA Whales Are Steadily Dropping In The Last Few Days
The number of Cardano whale addresses – those holding between 1 million and 10 million ADA – has dropped to 2,455, down from 2,484 on March 8.
This steady decline suggests that large holders have been offloading their positions over the past few days. Tracking whale activity is crucial because these high-value investors often influence market trends.
When whales accumulate, it signals confidence in the asset and can lead to price increases, while declining whale numbers suggest distribution, which can add selling pressure to the market.

With ADA whale addresses now at their lowest level since March 2, this trend could indicate weakening confidence among large holders despite Cardano being included in the US strategic crypto reserve.
If this pattern continues, it may lead to increased volatility as smaller investors absorb the selling pressure. A sustained drop in whale holdings could also suggest that ADA lacks strong buy support at current levels, potentially prolonging its downtrend.
However, if whale numbers stabilize or begin to rise again, it could signal renewed accumulation, potentially helping ADA regain momentum.
Will Cardano Rise Back To $1 Soon?
ADA’s EMA lines indicate that Cardano is in a consolidation phase. The short-term EMAs remain below the long-term ones, but their gap is not significant.
This suggests that bearish momentum is not dominant, and a shift in trend could occur if buying pressure increases. If ADA can test the resistance at $0.75 and establish an uptrend, it could climb toward $0.81.
A stronger bullish breakout could push Cardano’s price higher. The potential upside targets are $1.02 and even $1.17, if momentum continues to build.

On the downside, if selling pressure intensifies, ADA could test its key support at $0.64.
Losing this level would weaken its structure and increase the likelihood of further declines, potentially sending the price down to $0.58.
The relatively close EMA lines indicate that Cardano is in a pivotal phase, during which either a breakout or a breakdown could occur.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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