Bitcoin crashes to $65K as government hints at strategic reserve — buy the dip
Bitcoin just crashed to $65,000, forcing many leveraged traders to sell. However, the US Treasury Secretary just announced the government is moving forward with plans to create a strategic Bitcoin reserve.
Idea
Bitcoin recently plunged to $65,000, which forced over $1.8 billion in highly-leveraged traders to automatically sell their positions. This type of forced selling often clears out the market's weakest hands, creating a strong foundation for a rebound. At the exact same time, the US Treasury Secretary announced progress on a government plan to establish a strategic Bitcoin reserve. Having the US government officially buying and holding Bitcoin as a reserve asset would be a massive long-term vote of confidence, making this severe drop an attractive buying opportunity.