27.02.202613:28 Analisis Forex & Kajian: Indiana passes bill allowing pension investment in cryptocurrencies

Bitcoin returned to yesterday's lows and, at the time of writing, was trading at $66,700, while Ether has fallen below $2,000, a drop that could culminate in a fairly large sell-off at the end of this week and month.

Meanwhile, state legislators in Indiana have passed a law permitting public pension and savings plans to invest in Bitcoin, cryptocurrencies and crypto-related exchange-traded funds (ETFs). Governor Mike Braun is expected to sign bill HB 1042 within the next 10 days.

Clearly, this opens a new chapter for institutional investors in the state, giving them a legal avenue to diversify portfolios with assets that were previously viewed as too speculative or insufficiently regulated. The bill's signing is expected to catalyze a reappraisal of investment strategies at many pension funds seeking higher returns and protection against inflationary risks.

The inclusion of such assets in public pension plans is an important step toward institutional legitimization of cryptocurrencies in the United States. It could set a precedent for other states and countries, facilitating further development and integration of digital assets into the global financial system.

Under the new law, state public pension boards, deferred-compensation committees and annuity savings programs in Indiana must open self-directed brokerage accounts by 1 July 2027 that include at least one crypto investment option. These accounts will allow plan participants to select cryptocurrency investments in accordance with board-blished investment guidelines, monitor account valuations and pay administrative fees associated with holding digital assets.

The new law is expected to give public employees and pensioners more investment choices, including exposure to cryptocurrencies, while preserving control over their selections.

Trading recommendations:

With respect to Bitcoin's technical picture, buyers are currently targeting a return to $68,900, which would open a direct path to $70,600 and then to $72,100. The extended target is a peak around $74,600. A break above that level would signal attempts to restore the bull market. On a decline, buyers are expected at $66,400. A fall below that area could quickly push BTC toward $64,400, with a further downside target near $62,600.

Regarding Ethereum's technical picture, a clear consolidation above $2,078 would open a direct route to $2,169. The extended target is a peak near $2,279. Breaching that level would strengthen bullish sentiment and renew buyer interest. If ETH falls, buyers are anticipated at $1,998. A drop below that zone could rapidly send ETH down to about $1,936, with a further downside target near $1,869.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.