Bitcoin Rebounds to $82K as Senator Lummis Revives Push for U.S. Strategic BTC Reserve
Bitcoin (BTC) surged back to nearly $82,000, staging a relief rally after briefly dipping below $78,000 on Sunday. The recovery sparked modest gains across major altcoins, with Ether (ETH), BNB (BNB), XRP, and Cardano (ADA) rising up to 3%, while the CoinDesk 20 Index (CD20) climbed nearly 4%.
Meanwhile, the U.S. Securities and Exchange Commission (SEC) delayed its decisions on XRP, Dogecoin (DOGE), and Litecoin (LTC) ETF applications. Bloomberg analysts had previously assigned approval odds of 90% for LTC, 75% for DOGE, and 65% for XRP by year-end, but the regulatory pause has kept investors on edge.
Despite BTC’s bounce, some traders remain cautious, eyeing a possible pullback toward the $74,000 level—or lower—before a stronger push higher.
“In previous cycles, similar declines have triggered fresh buying interest,” said Alex Kuptsikevich, chief market analyst at FxPro.
“However, this time around, the growing influence of traditional financial firms has deepened the correlation between crypto and broader market trends. A drop toward the $70K-$74K range remains the most probable outcome, especially since the recent rebound has already eased short-term oversold conditions.”
Lummis Revives Push for U.S. Bitcoin Reserve
BTC’s gains coincided with Senator Cynthia Lummis reintroducing the BITCOIN Act, a bill that proposes the U.S. acquire 1 million BTC as part of a strategic reserve. Originally introduced last year, the legislation would direct the government to accumulate Bitcoin over five years, setting aside $6 billion annually from Federal Reserve remittances between 2025 and 2029.
The bill has fueled speculation that other major cryptocurrencies could eventually be included in such a reserve.
“Altcoins like XRP, Solana (SOL), and ADA saw stronger-than-expected gains following Lummis’ bill,” said Nick Ruck, director at LVRG Research, in a Telegram message to CoinDesk.
“There’s growing speculation that additional digital assets could be added to the reserve framework in the future.”
With regulatory uncertainty still looming and Bitcoin’s price facing resistance, traders remain watchful for the next major move.
