Plus: Texas wants Bitcoin - will the governor say yes?

GM. Grab a slice and sip your juice - Bitcoin bought pizza once, and now it buys headlines.

🤠 Texas moves closer to a strategic Bitcoin reserve.

🍋 News drops: protesting against Trump's memecoin dinner, understanding Bitcoin cycles + more

🍍 Market flavor today

Crypto Market Cap: $3.51T 2.71% (24H)
Name		Price	24H	7D
	Bitcoin BTC	$110,408.66	1.62%	8.12%
	Ethereum ETH	$2,660.69	3.54%	6.29%
	XRP XRP	$2.42	1.16%	-0.42%
	BNB BNB	$683.34	4.10%	5.62%
	Solana SOL	$178.53	3.71%	5.13%

Isn’t it kinda poetic that Bitcoin broke a new all-time high on Bitcoin Pizza Day?

For the first time ever, BTC crossed $110,000, which means those two legendary pizzas would now be worth over $1.1 billion.

That’s weirdly emotional. Idk. Feels like... a full circle moment.

So what’s pushing BTC this high? A couple of big things.

First, the US signed trade deals with both China and the UK, which eased global economic tensions that had been weighing down markets (including crypto).

Trade wars cool off → risk appetite goes up → Bitcoin does its thing.

Second, institutional investments keep growing.

Since last Wednesday, Bitcoin ETFs pulled in another $2.2 billion in inflows.

More demand = more price pressure upward.

And you know what's the best part? The rally likely isn’t done yet.

We talked about it yesterday, and CryptoQuant contributor Crypto Dan agrees.

He broke it down using a few key indicators that help gauge whether the market’s getting overheated - or if there’s still room to grow.

1/ Funding rate

That’s a fee traders pay when they use leverage in the futures market.

When it’s high, it usually means everyone is betting on prices going up (aka going long), and the market’s getting overly optimistic.

But right now, even though long positions are increasing, the funding rate is still relatively low compared to earlier bull runs = the futures market isn’t showing the kind of overheating that usually leads to a correction.

2/ Short-term transaction activity

This gives a sense of how much “fast money” is entering the market, like new traders chasing the rally.

And right now, that activity isn’t spiking the way it did during past all-time highs.

In short: momentum is building, but it’s not being flooded with impulsive traders (yet).

3/ Short-term holders aren’t panic-selling

Normally, when Bitcoin hits a new high, lots of people who bought recently try to take profits.

But this time? Not so much. Even the whales are chilling.

So yeah, while pullbacks are possible, this run still feels more like the middle than the end 🚀

🥝 Memecoin harvest

POV: you missed the pump again 😭👇

Data as of 05:10 AM EST.

Check out these memecoins and plenty more here.

🏎 SBR state race update

First, we had New Hampshire.

Then, there was Arizona.

Which lowkey sounds like the lineup for some indie rock festival - y'know, where everyone’s wearing beanies and raving about how “I discovered them when they were playing in someone’s basement” or “their early stuff was way more raw.”

But these aren't bands. These are the first two US states to set up official Bitcoin reserves.

And now, Texas looks like it’s tuning up to be the next act.

(Think dusty boots, denim jackets, a lead singer who sounds like they’ve smoked since age 12, and a bassist who definitely owns a cattle ranch.)

(Sorry, getting off track again.)

(Back to Bitcoin.)

Texas' House of Representatives passed SB 21 - a bill that would create the Texas Strategic Bitcoin Reserve, managed by the state comptroller and focused solely on digital assets with a market cap of at least $500B.

Which, for now, basically just means Bitcoin.

The vote came in at 101-42.

Now it’s up to Governor Greg Abbott to sign or veto it - and odds are he’ll sign.

Abbott’s been pro-crypto for a while and has pushed to bring digital assets into Texas' financial and regulatory systems.

As Rep. Giovanni Capriglione put it:

"Now we embrace a modern asset, with traditional properties for future promise. This reserve not only strengthens our physical sovereignty but positions Texas as a forward-thinking state."

And Texas isn’t alone - 30 other states have also introduced Strategic Bitcoin Reserve bills.

Let the FOMO begin 😈

🍋 News drops

😬 A jury in New York decided that Braden Karony, ex-CEO of SafeMoon, is guilty on three felony counts. He and two other guys behind the project - Kyle Nagy and Thomas Smith - were accused of misappropriating millions in SafeMoon tokens that weren’t exactly theirs to take.

⚖️ Jeremy Jordan-Jones, the founder of Amalgam Capital Ventures, got busted for scamming investors out of over $1M. Turns out his company had basically nothing - no products, barely any users, and the “partnerships” were made up - but he convinced investors it was growing.

🎥 Google dropped a new tool called Flow that combines their latest AIs - Veo 3, Imagen 4, and Gemini - into one workspace. You type out your idea, and Flow turns it into a video with sound effects, voices, or random animal noises (if that’s your vibe).

✊ Some Democrats (and groups backing them) are planning to protest against Trump’s memecoin dinner. They’re mad because people dropped over $100M just to get face time with the president - and it’s giving bribery.

🧐 If you’re trading without understanding Bitcoin cycles, you’re basically throwing darts blindfolded. This guide might change the way you see the market.

🍌 Juicy memes