Bitcoin's Strategic Reserve (SBR) sparks uncertainty

Bitcoin's price reflects indecision as investors await key decisions from the White House.

The price of bitcoin experienced a mixed performance on Thursday, closing at USD 103,910 after reaching a high of USD 106,850 and a low of USD 101,262. Uncertainty over the creation of a strategic reserve of cryptocurrencies in the United States and the recent signing of an executive order by President Donald Trump kept bitcoin investors in suspense.

Despite market indecision, bitcoin remains in an upward trend in the short and medium term, above the 25 and 50 period moving averages / Tradingview

The market context

In an environment marked by volatility, bitcoin showed a slight increase of 0.20% on Thursday. The price was initially driven by higher than expected unemployment aid application figures. However, the day was characterized by a doji candle, a pattern that reflects indecision in the market, with both bulls and bears balanced.

The White House and the future of bitcoin

Investors remain expectant about the possibility of executive orders that define a clear regulatory framework for cryptocurrencies. This Thursday, the White House announced the creation of a new working group. This team will be in charge of studying aspects related to the creation of a strategic reserve for bitcoin. It includes senior officials from the Treasury Department and the SEC, and has a maximum period of 180 days to submit proposals.

Trump's statements

At the World Economic Forum in Davos, President Trump reaffirmed his intention to turn the United States into the world capital of cryptocurrencies. Although the signed executive order did not mention the strategic reserve, it does seek to stimulate the development of the crypto industry in the country.

A step forward for companies

The SEC also took significant steps by canceling the interpretive guidance of SAB 121, which required financial companies to record cryptocurrencies as liabilities. With this change, institutions can now consider these holdings as assets, which represents a great boost for the sector.

Bitcoin Technical Analysis

Despite market indecision, Bitcoin remains in an uptrend in the short and medium term, above the 25- and 50-period moving averages. It is currently facing resistance around $108,000, while dynamic support lies at $97,300.

The future of Bitcoin remains uncertain, but investor attention does not seem to wane. The combination of regulatory factors and market developments will keep the cryptocurrency in the spotlight.

Disclaimer: This news is provided for informational purposes only and should not be construed as investment advice. Thorough research is always recommended before investing in cryptocurrencies.