Treasury signals Bitcoin reserve progress amid crash — buy the dip if $60K holds
Bitcoin has crashed to $65,000, but the U.S. Treasury Secretary just confirmed the government is moving forward with plans to create a strategic Bitcoin reserve. This government backing could provide a strong floor under the price once the current panic selling exhausts itself.
Idea
The U.S. Treasury Secretary just confirmed the government is proceeding with plans for a strategic Bitcoin reserve, which would be an unprecedented level of institutional adoption. Meanwhile, Bitcoin has crashed to $65,000 and traders are eyeing the $60,000 level as a major floor. Government reserve buying, if it materializes, would absorb a significant amount of Bitcoin supply. When you combine a major policy catalyst with a washed-out market where panic selling has already occurred, it often sets up a strong rebound opportunity.