The crypto market had a bullish week, seeing Bitcoin (BTC) reaching record highs of $111,980 and generating optimistic forecasts. The focus was on US states’ investment trends and regulatory updates, with Pi Network's price surge also attracting attention.

US states disclosed holding $632 million in Strategy’s MSTR stock, with California leading at $276 million. The data revealed significant increases in MSTR investments in states like Utah and Colorado, reflecting a growing interest in indirect crypto exposure. Meanwhile, Pi Network made headlines with an 86 million token withdrawal from OKX, although its price later experienced a decline.

Another notable event was the arrest of Vladimir Smerkis, co-founder of Blum, on fraud charges in Moscow. In a positive prediction, analyst Fred Krueger forecasted Bitcoin’s price could potentially reach $600,000 by October 2025.

In regulatory news, Texas’s Senate Bill 21, aimed at establishing a state-level Bitcoin Reserve, passed key votes and now awaits Governor Abbott's approval. If signed into law, Texas would become the second state after New Hampshire to have its own Bitcoin Reserve.