Bitcoin Rebounds to $82K Amid U.S. Crypto Reserve Talks, SEC Delays ETF Decisions
Bitcoin (BTC) bounced back to $82,000 on Monday, recovering from a weekend low of $78,000, as traders seized on renewed optimism in the crypto market. Major altcoins followed suit, with Ethereum (ETH), Binance Coin (BNB), XRP, and Cardano (ADA) climbing as much as 3%, while the CoinDesk 20 Index (CD20) advanced 4%.
The rally comes as Senator Cynthia Lummis reintroduced the BITCOIN Act, a bill proposing that the U.S. stockpile 1 million BTC as a strategic reserve over the next five years. The legislation, which failed to gain traction last year, would set aside $6 billion annually from 2025 to 2029 for Bitcoin purchases.
“This proposal could set a precedent for government-backed Bitcoin accumulation, reinforcing BTC’s long-term value proposition,” said Nick Ruck, director at LVRG Research.
“While the focus is on Bitcoin now, speculation is mounting over whether other major digital assets could be included in future reserve plans.”
SEC Delays XRP, DOGE, and LTC ETF Filings
Even as Bitcoin climbed, regulatory uncertainty dampened sentiment. The U.S. Securities and Exchange Commission (SEC) postponed its decision on pending XRP, Dogecoin (DOGE), and Litecoin (LTC) ETF applications, keeping investors on edge.
Bloomberg analysts had previously estimated approval odds at 90% for LTC, 75% for DOGE, and 65% for XRP, but the SEC’s delays suggest that further hurdles remain.
The decision weighed on broader sentiment, with some traders anticipating a potential pullback toward $74K or lower before Bitcoin resumes its upward trajectory.
“Bitcoin’s price action is still vulnerable to a deeper correction, with $70K-$74K being a key area to watch,” noted Alex Kuptsikevich, chief market analyst at FxPro.
“Unlike previous cycles, traditional finance plays a much larger role in shaping market movements today, making price swings more closely correlated with macroeconomic trends.”
With Bitcoin flirting with key resistance levels and regulatory uncertainty persisting, investors are bracing for heightened volatility in the days ahead.
