Bitcoin Traders Await Updates Amid Market Uncertainty
In recent weeks, bitcoin traders have been largely inactive, biding their time for news regarding U.S. President Donald Trump’s plans for cryptocurrency. This pause comes as traders also try to address concerns over a new, unidentified threat to crypto wallets.
Stagnant Bitcoin Prices and Market Predictions
The price of bitcoin has remained stagnant throughout March, hovering around $85,000. This stability persists despite significant market predictions that have sparked interest among traders.
Potential Federal Reserve Actions
As speculation grows about the Federal Reserve potentially opening the “floodgates” on monetary policy, a senior official in the White House has disclosed that the U.S. may utilize its gold reserves to acquire bitcoin.
Proposed Legislation for Bitcoin Acquisition
Bo Hines, executive director of the president’s council of advisers on digital assets, mentioned in a podcast interview that leveraging U.S. gold holdings to acquire bitcoin could be a budget-neutral method. He highlighted Senator Cynthia Lummis’ Bitcoin Act of 2025, which advocates for the U.S. to purchase 1 million bitcoin over five years through the sale of Fed gold certificates.
Trump’s Vision for Bitcoin Resurgence
During a bitcoin and cryptocurrency conference, Trump emphasized his commitment to establishing the U.S. as a leading powerhouse in bitcoin. He indicated that his administration aims to accumulate assets rather than divest them, referencing an executive order that bars the sale of seized cryptocurrency.
Market Reaction and Future Outlook
Trump’s affirmations regarding cryptocurrency have instilled confidence in market participants about his dedication to the crypto space. Despite recent price fluctuations, some experts believe that current bearish trends are driven by external economic factors rather than signaling a long-term decline.
Long-Term Expectations for Bitcoin
Ed Hindi, chief investment officer at Tyr Capital, expressed optimism about bitcoin’s potential, suggesting that it remains resilient and could achieve new heights. Analysts anticipate that both bitcoin and gold will outperform other investments in the coming months, with expectations for new all-time highs above $125,000 in 2025.
