Bitcoin Slips 1% as Ian Calderon Ties 2026 Governor Bid to Crypto Adoption

The Bitcoin price has dropped 1% in the last 24 hours to trade at $111,437.94 on a 25% slump in daily trading volume to almost $48 billion

This drop in BTC price comes as former California Assemblymember Ian Calderon kicks off his 2026 run for governor, blending everyday concerns like housing, groceries, and gas with a bold push for Bitcoin adoption. Calderon, once the state’s youngest legislator, said his generation already uses apps like Venmo and saves in Bitcoin, while politicians rely on outdated solutions.

He promised that if elected, California will hold Bitcoin on its balance sheet and even use it to fund state programs, aiming to make the state a global crypto leader. Calderon previously pushed for a bill to explore Bitcoin as legal tender in 2022, though it stalled.

Despite his plans, Calderon faces an uphill battle in the November 2026 election. Polls show Democrat Katie Porter leading the race, with Republicans Chad Bianco and Steve Hilton also ahead. His Bitcoin-centered campaign highlights crypto’s growing role in U.S. politics but leaves him as an underdog in California’s crowded governor’s race.

Bitcoin Prepares for Next Big Move as Price Holds Above $111K

Bitcoin (BTC) is trading around $111,600 after moving sideways for several weeks. The chart shows that the price has been consolidating between a support zone and a neckline resistance, creating a range-bound pattern. This period of consolidation often comes before a breakout as traders and investors prepare for the next direction.

The support zone has held firm, giving buyers confidence to re-enter the market. The chart also highlights a clear “buying point” near current levels, suggesting that many traders may see this as an entry opportunity. If Bitcoin breaks above the neckline resistance, analysts expect a sharp rally that could push the price toward the $150,000 level, which is marked as the target profit zone.

Technical indicators back up this outlook. The Relative Strength Index (RSI) shows Bitcoin is in a neutral range, meaning the market is not overheated and still has room to grow. However, if BTC fails to break higher and falls below support, the price may return to its earlier consolidation levels.

For now, traders are watching closely. A breakout above the neckline could signal the start of Bitcoin’s next major uptrend.