Bitcoin trades above $100,700 close to 3:30 p.m. EST today and is currently priced at $99,484.2, up +4.07% in the past 24 hours, while Ethereum trades at $3,450, up +7%. The Fear and Greed Index remains balanced at 75, indicating a neutral market sentiment despite recent price fluctuations. Crypto markets show strong movement across Stellar, Dogecoin, and state-level Bitcoin proposals. Stellar (XLM) price has climbed 12% on high volume. Dogecoin whales have accumulated $410M DOGE, as on-chain data signals a buy zone. Meanwhile, lawmakers in Oklahoma and Texas are pushing Bitcoin reserve strategies. Furthermore, according to the latest data, the U.S. Consumer Price Index (CPI) increased by 2.9% year-over-year in December, aligning with market forecasts. This roundup covers each event with technical data and quotes that shed light on key crypto developments.
What’s Trending in the Crypto Community?
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U.S. December CPI increased by 2.9% year-over-year, in line with market expectations.
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The correlation between Bitcoin and the Nasdaq 100 index reached its highest point since 2022.
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Oklahoma And Texas Push forward Strategic Bitcoin Reserves Bill.
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Dogecoin Whales Accumulate $410M DOGE.
Crypto Fear & Greed Index | Source: Alternative.me
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Oklahoma And Texas Move Forward With Bitcoin Reserve Proposals
Source: KuCoin
Lawmakers in Oklahoma and Texas seek to create a strategic Bitcoin reserve to expand BTC’s role in public finance. In Texas, State Senator Charles Schwertner filed a bill allowing the state to collect taxes, fees, and donations in BTC. Oklahoma Representative Cody Maynard introduced the Strategic Bitcoin Reserve Act to allocate part of pension funds and savings to Bitcoin.
Read more: What Is a Strategic Bitcoin Reserve and How Likely is It?
States Are Pushing For A Bitcoin Reserve
Texas holds the largest budget surplus among US states and wants to use Bitcoin as a financial instrument. Schwertner aims to make his state the first to enact a strategic Bitcoin reserve. “It’s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778,” he wrote on X. With President-elect Trump’s inauguration days away, Republican-led states appear determined to adopt BTC, at least at the state level. Meanwhile, Oklahoma Representative Cody Maynard introduced House Bill 1203 today, dubbed the Strategic Bitcoin Reserve Act. Like other states, Oklahoma also wants to use BTC as a potential hedge against inflation.
“Bitcoin represents freedom from bureaucrats printing away our purchasing power. It is the ultimate store of value for those who believe in financial freedom and sound money principles,” Maynard stated.
US Lawmakers Are Recognizing BTC’s Store Of Value
Other states like Pennsylvania and North Dakota have proposed similar measures. Some states use broader digital asset language, not limiting themselves to Bitcoin. Globally, nations like Japan, Russia, and Switzerland are exploring BTC reserves. Vancouver has already integrated Bitcoin into its municipal funds. Asset manager VanEck predicts Bitcoin reserves could reduce US national debt by 36% by 2025.
U.S. December CPI Rises 2.9% Year-over-Year, Meeting Market Expectations
According to the latest data, the U.S. Consumer Price Index (CPI) increased by 2.9% year-over-year in December, aligning with market forecasts. The previous reading for annual CPI growth was 2.7%. On a month-over-month basis, December’s CPI climbed by 0.4%, also matching analysts’ estimates, and slightly higher than the 0.3% rise reported in November.
These figures suggest that inflation continues to move at a moderate pace, with both the yearly and monthly increases coming in precisely as predicted by economists. The data provides additional insights into the current economic environment, indicating stability in consumer prices at the close of the year.
Stellar (XLM) Price Gains 12% With Trading Volume Reaching $1.75B
Source: KuCoin
Stellar XLM price rose 12% in the past day, with trading volume jumping 163% to $1.64B. Indicators like RSI and Ichimoku Cloud show a strong bullish trend, suggesting the rally might continue. EMA lines also confirm upward momentum, placing XLM near a critical resistance of $0.485. If the price breaks above this level, XLM could cross $0.50 for the first time since December 7. If sellers emerge and push the price below $0.43, there is a risk of a correction toward $0.38.
XLM RSI Confirms A Strong Buying Pressure
XLM RSI. Source: TradingView
Stellar RSI stands at 65.7, down from 71.9 earlier yet up sharply from 37.3 two days ago. The RSI ranges from 0 to 100, with levels above 70 pointing to overbought conditions. XLM’s current RSI supports a bullish outlook, though extended gains might move RSI into overbought territory.
Ichimoku Cloud Shows Stellar (XLM) Is Building A Bullish Setup
XLM Ichimoku Cloud. Source: TradingView
XLM now trades well above the green Kumo. The Senkou Span A green line is above the Senkou Span B red line, showing a bullish trend. The blue Kijun-Sen baseline is below the price, and the orange Tenkan-Sen conversion line is aligned closely with the price, indicating strong near-term momentum. The lagging span green line rests above both the price and the cloud, confirming a bullish outlook.
XLM Price Prediction: Can Stellar Rise To $0.50 Again?
XLM Price Analysis Source: TradingView
Short-term EMA lines lie above long-term EMAs, with a widening gap suggesting robust momentum. If $0.485 resistance breaks, XLM could approach $0.50. But if sellers force a drop below $0.43, the price may test $0.41 or even $0.38, marking a potential 19% decline.
Dogecoin Whales Scoop Up $410M DOGE As Meme Coin Flashes Buy Signal
Dogecoin Supply Distribution. Source: Santiment
Dogecoin whales have increased their holdings by $410M DOGE, worth $140M, bringing their cumulative stash to 22.54B DOGE, the highest since 2016. This whale activity can tighten supply, spark retail interest, and support a bullish trend.
Dogecoin Whales Are Back In The Game
Large holders controlling 10,000,000 to 100,000,000 DOGE have driven this accumulation spree. On-chain data shows Dogecoin’s one-day MVRV ratio at -1.76, indicating undervaluation. Historically, negative MVRV points to a potential rebound as the asset trades below its average acquisition cost.
DOGE Price Prediction: Accumulation Could Propel Coin To $0.48
Dogecoin’s Chaikin Money Flow (CMF) is now at 0.03, reflecting more inflows than outflows. A sustained whale accumulation trend might drive DOGE near $0.48. If selling persists, DOGE might slip to $0.29.
Dogecoin Price Analysis. Source: TradingView
Conclusion
Stellar advances 12% on strong volume. Dogecoin whales snap up $410M DOGE, signaling undervaluation. Two US states push for BTC reserves. Each trend points to broader crypto adoption, from retail traders to whales to lawmakers. Rapid technical gains, potential legislative action, and on-chain data form a compelling case for more market growth in the near future.
