Bitcoin rebounds 4% as markets shake off disappointment over US Strategic Bitcoin Reserve

03/07 09:22

Wechat scan to share

Bitcoin (BTC) saw a 4% increase on Mar, 7 despite initial disappointment over the US Strategic Bitcoin Reserve. Data from Cointelegraph Markets Pro and TradingView indicated BTC/USD recovering from lows of $84,713 on Bitstamp. The Reserve will only consist of confiscated coins, not new BTC, as part of a strategy to maximize the value of the government's holdings. President Trump signed an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile. Market reactions were mixed, with some seeing the news as a disappointment while others remained bullish on Bitcoin's future.

Comments

All Comments

Recommended for you

cointelegraph · 04/06 13:00

Decentralized exchanges gain ground despite $6M Hyperliquid exploit

Decentralized exchanges like Hyperliquid continue cutting into the market share of their centralized rivals.
Coindesk · 04/06 12:54

Nearly 400,000 FTX users risk losing $2.5 billion in repayments

Nearly 400,000 FTX users risk losing $2.5 billion in crypto repayments unless they complete KYC verification before the extended June 1 deadline.
04/06 04:18

Forbes survey: More than a third of Wall Street leaders oppose Trump's economic policies

Forbes recently conducted an investigation into President Trump's economic policies, contacting 50 of the most influential figures on Wall Street, including billionaire investors, heads of large institutional asset management companies, and top financial advisors in the United States, to understand their views on Trump's economic strategy since taking office.
Kevin Helms · 04/05 05:52

Coinbase Launching US Regulated 24/7 Bitcoin Futures

Coinbase is preparing to launch U.S.-regulated, 24/7 bitcoin and ethereum futures, aiming to modernize trading access and introduce perpetual-style contracts amid rising demand.
The Block · 04/04 23:39

Clanker team earns $13 million in revenue from over 200,000 tokens on Base in just five months

Clanker has generated nearly $27 million in all-time fees, which has resulted in over $13 million in revenue for its team.
Terence Zimwara · 04/04 23:37

The Dark Side of Tariffs: Dalio Predicts Global Stagflation and Economic Upheaval

Ray Dalio warns that Donald Trump’s tariff policies could lead to global stagflation and significantly alter U.S.- China trade relations.
Jesse Coghlan · 04/03 09:56

Alabama, Minnesota lawmakers join US states pushing for Bitcoin reserves

Bills to create Bitcoin reserves have been introduced in 26 states, with Arizona currently the closest to passing a law.
Stephen Moore · 04/03 09:53

‘National emergency’ as Trump’s tariffs dent crypto prices

A crypto investment specialist at crypto asset manager 21Shares told Cointelegraph that while markets experienced significant volatility, the tariff clarity could be a good thing in the long term.
Decrypt · 04/03 02:03

Avalanche Will Skyrocket and Outperform Bitcoin by End of 2029: Standard Chartered

Standard Chartered thinks the price of Avalanche's AVAX token could dramatically increase over the next few years, outpacing Bitcoin's gains.
bitcoin.com · 04/02 07:11

Trump Sons Launch “American Bitcoin” In Partnership with Hut 8

Hut 8 will hold an 80% stake in American Bitcoin, while American Data Centers, Backed by Trump sons, will take the remaining 20%.