Bitcoin (BTC) Soars By Over 20% As Trump Administration Considers Strategic Reserve

Bitcoin, the world's top digital asset, surged by over 20% Monday from last week's lows, with major altcoins following suit.

Bitcoin (BTC) and major altcoins rebounded on Monday, with the world's top digital asset surging by over 20% from last week's lows. The crypto's rally came immediately after US President Donald Trump's announcement that the administration is considering a strategic reserve covering Bitcoin, Solana (SOL), Cardano (ADA), Ethereum (ETH) and XRP.

Bitcoin Riser Past $90k

The White House is thinking about a strategic reserve that would cover some of the world's most popular crypto assets, including BTC, ETH, XRP, ADA and SOL, the president said on Sunday.

"We're thinking about it, it's being discussed at a high level, they're talking about it. It would be a strategic reserve, it's something that we're considering."

Bitcoin's response was immediate. From a low of $85k on Monday, the alpha coin bounced past $90k.

The day's price action also came with massive fund movement, particularly among old Bitcoin wallets. According to CryptoQuant, old BTC whale wallets between seven and 10 years old transferred about 180 BTC immediately after the asset's price rebounded from its lows and flirted with $96k.

Whales On Alert As Bitcoin Briefly Surged Past $90k

Bitcoin's price action today had a ripple effect in the broader crypto market. As the world's top cryptocurrency briefly strengthened, other major altcoins like XRP and ADA followed suit.

For instance, XRP surged by more than 30% today, becoming one of the best-performing assets for the day. The cryptocurrency is trading hands at $0.3408, a far cry from last week's lows of $0.20.

On-chain analyst Maartunn shared an interesting screenshot showing trading activities among Bitcoin long-term holders.

According to the analyst, seven to 10-year-old wallets transferred over 180 Bitcoins as the price hit $96k.

In addition, wallets holding BTC for at least 10 years have moved 120 tokens as well.

Huge Whale Moves Due To Impatience With BTC Price?

Bitcoin's price rally was short-lived, as it has since retreated to below $85k. In the last 24 hours, the top crypto asset has traded wildly between $83k and $93k.

The asset's price is down 8.8% from last week's level and 16.4% from last month's.

Bitcoin's data and trading patterns suggest that some whales and long-term holders are getting impatient with its price performance.

An analytical exposition also indicates that fund transfers have increased among investors who entered before the last two halvings.

Heavy Movements Noted On Crypto Wallets Between 5 And 7 Years Old

Maartunn also noted the shift in funds among wallets between five and seven years old. As Bitcoin's price hovered around $93k, these addresses transferred 1,453.40 units.

These movements suggest sales, indicating a possible loss of enthusiasm.

Interestingly, these wallets have purchased Bitcoin at around $25,000, meaning these holders have realized a staggering profit given the asset's current price of $83k.

While these whales unloaded some of their holdings, some crypto analysts remain bullish on Bitcoin.

Ali Martinez, for example, suggested that Bitcoin's price is at a bargain. In a recent tweet, Martinez shared that now is the best time to invest in Bitcoin.

"At $83k, #Bitcoin is a bargain. This is the best time to invest in the flagship cryptocurrency. Martinez added that at $83k, Bitcoin is presenting an "unbelievable opportunity" for investors to join the market.

"The flagship cryptocurrency, at $83k, presents an unbelievable opportunity for investors to enter the market and begin their Web3 journey with the world's leading cryptocurrency. It's an opportunity to invest in an asset that has revolutionized finance and technology, and that continues to innovate and push boundaries."

Bitcoin has lost more than 15% of its value since the beginning of the year, and it is currently trading at around $83k. The asset's price hit a record high of $80k last year.output: Bitcoin (BTC) and major altcoins rebounded on Monday, with the world’s top digital asset surging by over 20% from last week’s lows. The crypto’s rally came immediately after US President Donald Trump’s announcement that the administration is considering a strategic reserve covering Bitcoin, Solana (SOL), Cardano (ADA), Ethereum (ETH) and XRP.

The White House is thinking about a strategic reserve that would cover some of the world’s