Bitcoin (BTC) markets are trading mostly sideways on Thursday as the Texas Senate passed a strategic Bitcoin reserve bill

Crypto markets are trading mostly sideways on Thursday as the Texas Senate passed a strategic Bitcoin reserve bill, which now advances to the House.

Cryptocurrency markets are trading mostly sideways on Thursday as the Texas Senate passed a strategic Bitcoin reserve bill, which now advances to the House.

Notable Statistics:

Crypto traders are keeping a close eye on the upcoming U.S. Open Network (SOI) integration, set to launch on March 15. The integration aims to bring new use cases and lower transaction fees to the SoFi platform.

The Texas Senate has passed a strategic Bitcoin reserve bill, which now advances to the House for further consideration.

Notable Developments:

The cryptocurrency market has been showing signs of recovery in recent days, with Bitcoin (BTC) and Ethereum (ETH) prices showing strength above key technical levels.

Bitcoin prices have been trading above the $27,000 mark, while Ethereum prices are holding above the $1,700 level.

The cryptocurrency market capitalization has risen to $1.21 trillion, reflecting gains in major cryptocurrencies and a positive market sentiment.

Top Gainers:

The top gainers in the crypto market over the past 24 hours are:

Chain (LINK)

Optimism (OP)

Livecoin (LTC)

Trader Notes:

Crypto trader Kevin posts the 3-Day MACD chart on red days to remind traders that yes we're still in a correctional phase of the market and it's going to take time for it to resolve.

Based on historical trends, he expects it to resolve between late March and late April and advises patience.

I make sure re post the this chart of the 3 day MACD on red days to remind people that yes we're still in a correctional phase of the market and it's going to take time for it to resolve. Likely between the end of March to end of April time frame based on average days. Just take… https://t.co/4yHPObyxC6

Crypto chart analyst Ali Martinez highlighted that Bitcoin, Ethereum and Solana have been moving in close sync over the past two weeks, suggesting a strong correlation in price action.

Altstreet Bets warned that if Bitcoin fails to close above $95,000 on the weekly chart, it's ‘actually over.’ He added that the upcoming White House crypto summit could be the last chance for bulls to prove themselves.

#BTC , If bulls are not able to close it above 95k on weekly then its actually over. Tomorrow event is one last chance for bulls to prove themselves or GTFO.

According to the latest data from Glassnode, Bitcoin's realized value has hit a 15-month high of $21.8k, indicating that a majority of coins are holding at a profit.

This development suggests a potential shift in the market, as it could lead to less selling pressure and support higher prices in the long run.

As of Thursday morning, Bitcoin was trading hands at $27,101, showing a 24-hour gain of 0.68%, while Ethereum was spotted trading at $1,700, displaying a 24-hour price loss of 0.30%.

Read Next: Best Cryptocurrency Prices Today - Ranges From Bitcoin To Chainlink To Optimism

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