Government says it's stockpiling Bitcoin just as it hits a 4-month low — time to buy the panic
Bitcoin has plunged to its lowest price since February, dropping below $63,000 as nervous traders rush to sell. However, the U.S. Treasury Secretary just announced positive progress on creating a government stockpile of Bitcoin.
Idea
Panic selling has pushed Bitcoin to its lowest level since February, causing a wave of forced liquidations. However, this dramatic price drop directly contradicts a major bullish fundamental catalyst: the U.S. government is moving closer to officially stockpiling Bitcoin. When retail traders are panicking and getting wiped out, but the underlying government policy is turning highly favorable, it often marks a prime buying opportunity. This is a classic case of short-term fear clashing with long-term policy support, making a bounce highly likely.