Chain News Today TheBitTimes.com

At the signing ceremony for the Strategic Bitcoin Reserve (SBR), US President Donald Trump seemed as confused about its impact as the rest of the market. On the announcement, which came via a tweet from Crypto Czar David Sacks, crypto prices globally tanked. Within an hour, the market capitalization of crypto assets shed $200 billion. Within 90 minutes of the news, the combined crypto market cap was within 1.8% of its pre-announcement price. Despite announcing an executive order authorizing the US Treasury and Commerce Secretaries to buy bitcoin (BTC), Trump appeared to struggle to fully comprehend the text in front of him. After Sacks verbally summarized the order, Trump asked him to clarify, “And this is something you believe in fully?” Sacks assured him, “100%.” “Alright,” Trump continued. “And we made the promise, right?” Sacks responded consolingly, “Absolutely.” Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bi...

The Strategic Bitcoin Reserve price surged 45% in the last 24 hours to trade at $2.68 as of 02:49 a.m. EST, with trading volume skyrocketing 43% to $11 million. This follows Senator Cynthia Lummis expressing confidence that a strategic Bitcoin reserve could be possible within DonaldTrump’s first 100 days in office. “With bipartisan support and the backing of the people, we can get this done in the first 100 days,” she said. ”It’s a game changer for our nation’s financial stability. Let’s put America on solid financial footing and pass the Bitcoin Act!” Strategic Bitcoin Reserve Price Could Continue Soaring According to GeckoTerminal data, the Strategic Bitcoin Reserve price has shown strong upward momentum recently, reaching a peak close to $3.00 before pulling back to around $2.68. The Relative Strength Index (RSI) is above 70, currently at 77, which places it in overbought territory. Typically, when the RSI is this high, it indica...