Bitcoin Rises Slightly on Good News of Arizona

U.S. House of Representatives in Arizona Passes Two Bills
BTC Slightly Rises On Apr. 29...Altcoin Rises Following BTC
Robert Kiyosaki Says "Buying BTC in a Global Recession"

The cryptocurrency market, including Bitcoin(BTC), rose slightly on Apr. 29 after the first state-level bitcoin stockpile bill was passed by the Arizona State Legislature in the United States.

In the Arizona House of Representatives, bills SB1373 and SB1025 passed the House of Representatives on the 28th after passing the Senate two months ago.

SB1373 and SB1025 are bills that suggest the state's purchase of bitcoin through seizure volume and pension funds. SB1373 contains a provision that establishes digital assets seized through criminal proceedings as strategic reserves. SB1025 contains a provision that the Arizona Treasury Department and the state pension system can invest up to 10% of the available funds in bitcoin.

Arizona will now be recorded as the first state to pass a state-level bitcoin-purchasing bill upon Arizona Gov. Katie Hobbs' signature.

Bitcoin rose slightly on the morning of the 29th on the news of Arizona, and altcoins also rose along with bitcoin. Major altcoins recorded a rise of more than 1.5%.

◇Bitcoin = Bitcoin price is $94,836 at 4:30 p.m. on Apr. 29, 2025. The Bitcoin share(dominance) was 64.23%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 41.35% and 58.65%, according to the on-chain analytics platform Sigbtc.

As Bitcoin is transforming into a safe asset, advice to buy Bitcoin continued.

"Some of the richest people in the world are actually going bankrupt, which is an unhealthy sign for the entire economic ecosystem," Robert Kiyosaki, author of the bestseller "Rich Dad, Poor Dad," said on his X account on the 28th. "I saved gold, silver, and bitcoin looking for the wisdom of experts to make wise use of the situation now."

Finally, he emphasized, "Knowledge has become 'new money' in a world overflowing with fake money and fake teachers."

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Apr. 29 was PUNDI X(PUNDIX), up about 23% on the day alone.

PUNDIX is a project to operate a P2P payment system that distributes XPOS, a digital asset payment and transaction force, to various retailers so that users can purchase and sell products through digital assets. PUNDIX is being used for XPOS payment and incentives.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 60 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 57.0, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of the over-purchase and over-sale of a particular asset.

권승원 기자 ksw@blockstreet.co.kr