Bitcoin Price Now Facing $1.2B Sell-Wall as Arizona Governor Blocks Crypto Reserve Bill

Quick Summary:

Arizona State Governor Vetoes Against Bitcoin Reserve Bill After Congress Approval Bitcoin’s upward momentum faced unexpected headwinds this week following a political setback in Arizona.

Bitcoin price rally halted at $97,800 on Saturday, as markets reacted to a major update in Arizona state’s cryptocurrency reserve adoption.

Data from Coinglass’ Liquidation Map reveals a dense cluster of short positions at the $98,000 mark, where bears have placed roughly $1.2 billion in leveraged bets.

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Article Details

Author / Journalist: ibrahim

Category: Crypto

Markets: India

Topics: Bitcoin Price Analysis Bitcoin (BTC) Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-03 @ 15:00:19 (1 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 652 words

Reading Time: 4 minutes read

Sentences: 49 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 28335864

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 6 posts per day

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Headquarters: India

News Last Updated: 10 hours ago

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