Bitcoin Climbs Back to $82K as Lummis Pushes for U.S. Strategic BTC Reserve

Bitcoin (BTC) rebounded to $82,000 after briefly dipping below $78,000, triggering a moderate recovery across the broader crypto market. Major altcoins like Ethereum (ETH), Binance Coin (BNB), XRP, and Cardano (ADA) posted gains of up to 3%, while the CoinDesk 20 Index (CD20) advanced nearly 4%.

Meanwhile, regulatory uncertainty remains a concern as the U.S. Securities and Exchange Commission (SEC) delayed decisions on XRP, Dogecoin (DOGE), and Litecoin (LTC) ETFs. Analysts previously estimated approval odds of 90% for LTC, 75% for DOGE, and 65% for XRP, but the latest postponement has left traders waiting for clarity.

Despite Bitcoin’s bounce, some traders remain cautious.

“We’re still eyeing a possible pullback to $70K-$74K before the next leg higher,” said Alex Kuptsikevich, chief market analyst at FxPro.

“Unlike previous cycles, Bitcoin’s correlation with traditional finance has increased, making it more susceptible to broader market trends. The recent rebound reduced short-term oversold conditions, but it doesn’t guarantee immediate upside.”

U.S. Government Eyes Massive Bitcoin Accumulation

Adding fuel to Bitcoin’s rally was Senator Cynthia Lummis’ reintroduction of the BITCOIN Act, a proposal that would see the U.S. government accumulate 1 million BTC over five years as part of a national strategic reserve. The plan calls for $6 billion in Federal Reserve remittances to be allocated annually between 2025 and 2029 to build the reserve, alongside existing gold holdings.

Some market participants believe this could signal future government interest in select altcoins as well.

“Pro-crypto legislation like this is why we saw outsized gains in XRP, Solana (SOL), and Cardano (ADA),” said Nick Ruck, director at LVRG Research.

“With Bitcoin at the center of the reserve strategy, there’s growing speculation that certain high-utility altcoins could be considered for inclusion in the future.”

As Bitcoin continues to navigate macroeconomic headwinds and regulatory developments, traders are keeping a close watch on key support levels and upcoming ETF decisions.