21.01.202609:46 Forex Analysis & Reviews: US administration working on creation of state Bitcoin reserve

Treasury Secretary Bessent confirmed yesterday in remarks that the administration continues work on creating a state Bitcoin reserve.

The Trump administration's strategic move reflects growing acceptance of cryptocurrencies as an integral part of the financial system of the future. Establishing a state Bitcoin reserve would send a powerful signal to investors and entrepreneurs, bolster confidence in digital assets, and spur innovation in the sector.

Discussions on this topic have been active for some time. Creating such a reserve could serve several purposes. First, it would diversify state assets and reduce reliance on traditional financial instruments. Second, Bitcoin could be used for international settlements and operations, particularly amid geopolitical instability. Finally, holding a significant volume of Bitcoin in reserves could strengthen the United States' position in the crypto industry and influence global trends.

Implementing the strategy will require answers to a number of questions. Clear rules for managing the reserve must be developed to ensure its security and transparency. It will also be necessary to define mechanisms for using the Bitcoin reserve in the national interest and to establish a regulatory framework for taxing cryptocurrency transactions.

Overall, the initiative to create a state Bitcoin reserve is an important step toward integrating digital assets into the US economy. The United States has already halted sales of confiscated BTC. The next stage is to top up the reserve with seized assets: after damage claims are settled, such BTC will not be sold but will be credited to the government's digital reserve.

Trading recommendations:

Regarding the technical picture for Bitcoin, buyers are now targeting a return to $90,500, which would open a direct path to $92,100 and then to $94,000. The farthest target is the peak near $95,800. A break above that level would signal attempts to restore the bull market. If Bitcoin falls, I expect buyers at $88,700. A drop below that area could quickly push BTC down toward $86,300. The farthest downside target would be around $83,200.

Regarding the technical picture for Ethereum, clear consolidation above $2,997 opens a direct route to $3,072. The farthest target is the peak near $3,129. Breaching that level would strengthen bullish sentiment and renew buyer interest. If ETH falls, I expect buyers at $2,887. A return below that zone could quickly send ETH down to about $2,789. The farthest downside target would be around $2,684.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

Typically, a crossover or price test of these moving averages either halts market momentum or sets a new directional impulse.