Bitcoin Struggles to Reclaim $90,000 Amid Market Uncertainty Despite US Strategic Reserve

Bitcoin is struggling to reclaim the $90,000 level despite recent developments, including the U.S. President's executive order to establish a Strategic Bitcoin Reserve. On Thursday, the order was officially signed, aiming to create a "digital Fort Knox" for the cryptocurrency. However, the market reacted with caution, and BTC continues to face selling pressure. Currently trading at $89,000, Bitcoin needs to surpass $90,000 and $100,000 to regain bullish momentum. Glassnode data indicates that U.S. authorities hold 187,236.68 BTC, valued at approximately $16 billion. According to White House Crypto and AI czar David Sacks, the U.S. will not sell these holdings, intending to keep them as a store of value. Failure to hold $90,000 could lead to a drop below $78,000, increasing selling pressure. The next few weeks will be crucial in determining Bitcoin's direction.