Bitcoin analysts warn of limited upside after Trump’s reserve plan excludes new government purchases, with BTC struggling to hold above key resistance levels.
Bitcoin analysts are signaling limited upside potential for the cryptocurrency following disappointment over US President Donald Trump’s Strategic Bitcoin Reserve plan, which did not involve direct government purchases of Bitcoin, contrary to some expectations.
Trump’s executive order, signed on March 7, outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases rather than actively acquiring Bitcoin (BTC) through market purchases, Cointelegraph reported.
Bitcoin plunged over 6% after the announcement, falling from $90,400 to $84,979, Cointelegraph Markets Pro data shows.
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