Bitcoin is back in the green heading into the weekend, climbing over 4% to trade near $80,00

Bitcoin price today: BTC trades above $83K as Florida handles key Bitcoin bill

Bitcoin price today is trading in the green, with the crypto rising over 4% to trade above $83,000 by Friday afternoon. This rally marks a sharp rebound from earlier intraday lows around $78,953.

Key levels to watch:

BTC/USD is now testing levels around $83,000 to $84,000, which could be pivotal in the coming days. A break above could open the door for a challenge of the 2025 highs.

On the other hand, if BTC falls below $80,000, a retest of $76,000 remains possible in the near term.

The bulls will be hoping for a continuation of the recent bullish momentum, which has been fueled by a combination of factors, including the U.S. government's willingness to engage in bipartisan cooperation on issues like crypto.

What happened:

Florida's House Insurance and Banking Subcommittee has unanimously approved House Bill 487, which proposes investing up to $1.5 billion of public funds into Bitcoin.

This bill positions Florida as the first U.S. state to advance a Bitcoin reserve bill with bipartisan, unanimous support. Many analysts see this move as a turning point in Bitcoin's journey from speculative asset to sovereign reserve tool.

"This bill puts Florida on the leading edge of this very new technology," said Republican Barnaby, who chairs the subcommittee.

His comments highlight the significance of digital assets being seriously considered at the highest levels of state governance.

Other states are not far behind, with bipartisan support emerging for similar bills in the past year.

At least two other state-level Bitcoin bills are currently being discussed in the 2025 spring legislative sessions.

In the past year, several Republican-led bills to create a Bitcoin reserve in the U.S. have been introduced in Congress but have yet to gain momentum.

Shift in crypto market sentiment:

This development comes as macro uncertainty is easing and U.S. equities are stabilizing, shifting the market sentiment.

With the tariff threat receding and major indices like the S&P 500 showing signs of recovery, crypto is also rebounding from last week's selloff.

At the same time, technical indicators are flashing bullish signals.

As of Friday, Bitcoin had risen by 15% from recent lows around $72,000, and further gains could push it towards the psychologically significant level of $85,000.

A breakout above $84,000 could clear the way for a test of the 2025 highs around $86,000, set earlier this year.

However, a move below $80,000 could bring the next support level of $76,000 into focus.

"A break of $84,000 would open the door for a move towards the 2025 highs around $86,000, while support is now at $80,000, followed by $76,000," IG market analyst, Stephen IG, noted.

"With the pessimism towards Trump's tariffs easing and major U.S. indices stabilizing, the broad market selloff has stalled, and we could see a return of bullish pressure."

"This pessimistic trend could be reversing, and we could see a return of bullish pressure, especially as the U.S. government is showing a willingness to engage in bipartisan cooperation on issues like crypto."

At the same time, technical indicators are flashing bullish signals.

"Relative strength analysis indicates that Bitcoin is outperforming the broader market, while the MACD indicator is also showing signs of bullish momentum," added IG.

"However, it's worth noting that Bitcoin remains highly volatile, and rapid price swings are to be expected."

State-level crypto adoption is accelerating:

While recent crypto headlines have focused on Trump's tariff threat and Bitcoin ETF flows, Florida's Bitcoin bill highlights a more structural shift: the rise of state-backed digital asset reserves.

At a time when:

...Bitcoin is emerging as a tool for fiscal resilience.

...Governments are seeking to broaden their economic policy frameworks.

...The need for crypto-economic solutions is becoming urgent.

This bill marks a significant step in that direction, aligning perfectly with the broader trends transforming the global financial landscape.

Bottom line: Why is Bitcoin up today? Because institutional trust is rising, and governments are starting to treat BTC as more than a novelty.

With Florida leading the charge and other states close behind, Bitcoin is increasingly being viewed as a sovereign-grade asset.

If today's momentum continues, we may look back at April 12, 2025, as the day