Americas Crypto Daybook: BTC Fails to Rally Despite Establishment of Strategic Bitcoin Reserve

By James Van Straten (All times ET unless specified otherwise) The wait is over as President Donald Trump has fulfilled his campaign promise by signing an executive order to create the Strategic Bitcoin Reserve and US Digital Asset Stockpile. However, the expected excitement among bitcoin bulls is absent, with the price of the largest cryptocurrency dropping over 2% since the announcement. This reaction bears a striking resemblance to the response when the SEC approved bitcoin exchange-traded funds last January, which saw BTC fall 20% over two weeks before eventually reaching an all-time high a couple of months later. Dubbed the 'Digital Fort Knox,' Trump's initiative provides a structured framework for accumulating bitcoin. A key aspect of the order is the authorization given to the Secretaries of Treasury and Commerce to develop budget-neutral strategies for acquiring more bitcoin without imposing additional costs on American taxpayers. This could be achieved through various means, including the sale of US gold reserves, liquidating other cryptocurrencies seized by the government, or issuing bitcoin-bonds similar to the convertible bonds introduced by publicly traded bitcoin companies. Additionally, jobs data is expected later, with non-farm payrolls estimated to have increased by 160,000 and the unemployment rate holding steady at 4%. Meanwhile, broader macroeconomic uncertainty persists, including concerns over tariffs, rising global bond yields, a strengthening yen, and a weakening dollar. Remain vigilant! Key Events to Watch Token Events Conferences Token Talk By Shaurya Malwa Derivatives Positioning Market Trends: Bitcoin Statistics: Technical Analysis Crypto Equities ETF Flows Spot BTC ETFs: Spot ETH ETFs Source: Farside Investors Overnight Flows Chart of the Day While You Were Sleeping In the Ether