Bitcoin (BTC) is at $104,341 with a $39.9B daily volume. The market is consolidating, but momentum is building. As state-level crypto policies evolve and DeFi integration grows, the foundations for a price breakout are being laid. The circulating supply of BTC is getting close to 19.88M, and scarcity is a bullish driver. However, beyond supply and demand theory, real-world catalysts are providing traders with new reasons to remain long. Ohio Passes $200 Bitcoin Tax Break, Eyes Senate Vote The Ohio House of Representatives has just passed the Blockchain Basics Act (68–26), providing new protections for crypto users and miners. $200 tax exemption on capital gains for crypto transactions Ban on interference with self-custody wallets Mining protection from discriminatory zoning laws If passed by the Senate, Ohio would lead U.S. states in progressive crypto regulation. This clarity is bullish; it reduces friction for adoption and provides a model for others to follow. Ohio's HB 116 advances with unanimous 13-0 vote in the House Tech Committee. It protects self-custody, mining, and introduces a first-in-the-nation #Bitcoin tax exemption on purchases under $200. pic.twitter.com/d7C1D4NcO1 — TFTC (@TFTC21) June 17, 2025 Miners, developers, and retail traders are likely to benefit from the more favorable legal landscape, which could drive Bitcoin demand over time. Kraken Launches Native Bitcoin Staking via Babylon In a notable move for BTCFi (a Bitcoin-based DeFi platform), Kraken has partnered with Babylon Labs to offer native Bitcoin staking, with no wrapping, bridging, or lending required. AND. WE’RE. LIVE It's time to join the Bitcoin Staking Revolution Babylon Testnet, the first ever Trustless Native Bitcoin Staking protocol, is now officially live! Get involved, stake Signet #BTC and claim your free Pioneer Pass now. https://t.co/kdBgiu12Fq pic.twitter.com/l0eZTmZzev — Babylon (@babylonlabs_io) February 28, 2024 Using Babylon’s protocol, users can stake BTC and earn BABY tokens while their funds are secured on the Bitcoin network itself. This has several bullish implications: Reduces the circulating BTC supply, providing long-term price support Shows BTC utility beyond store of value Institutional BTCFi participation grows the ecosystem liquidity As more Bitcoin is locked for staking and institutions explore yield strategies, BTC’s role in decentralized finance is maturing rapidly. Bitcoin Technical Setup: Triangle Apex Nears $105K On the 2-hour chart, BTC is coiling within a classic ascending triangle, forming higher lows with horizontal resistance near $105,000. The 50-EMA at $105,252 acts as a dynamic ceiling. Bitcoin Price Chart – Source: Tradingview Momentum indicators suggest a breakout may be imminent. Trade setup to watch: Entry: Break above $105,500 with a strong candle Targets: $107,200, then $108,351 Stop-loss: Below trendline at $103,400 MACD: Flat, awaiting confirmation Candlesticks: Multiple doji and spinning tops near resistance Bottom Line: BTC is consolidating at a critical resistance zone, while real-world catalysts, like regulatory clarity and staking innovation, boost confidence. A breakout above $105,500 could trigger a fresh leg higher in Bitcoin’s 2025 bull run. BTC Bull Token Nears $8.2M Cap as 58% APY Staking Attracts Last-Minute Buyers With BTC trading near $105K, investor focus is shifting toward altcoins, especially BTC Bull Token ($BTCBULL) . The project has now raised $7,249,360 out of its $8,290,897 cap, leaving less than $1 million before the next token price hike. The current price of $0.00257 is expected to increase once the cap is hit. BTC Bull Token links its value directly to Bitcoin through two core mechanisms: BTC Airdrops reward holders, with presale participants receiving priority. Supply Burns occur automatically every time BTC increases by $50,000, reducing $BTCBULL’s circulating supply. The token also features a 58% APY staking pool holding over 1.81 billion tokens, offering: No lockups or fees Full liquidity Stable passive yields, even in volatile markets This staking model appeals to both DeFi veterans and newcomers seeking hands-off income. With just hours left and the hard cap nearly reached, momentum is building fast. BTCBULL ’s blend of Bitcoin-linked value, scarcity mechanics, and flexible staking is fueling strong demand. Early buyers have a limited time to enter before the next pricing tier activates. The post Bitcoin Price Prediction: BTC Hits $104K as Ohio Passes Tax Break and Kraken Adds Staking appeared first on Cryptonews .
