- Bitcoin selling pressure has eased, with higher lows forming since March 14, hinting at potential short-term price growth.
- The U.S. may use gold reserves to buy Bitcoin, aligning with the 2025 Bitcoin Act, which plans to acquire 1M BTC over five years.
- Trump’s Bitcoin push could spark institutional buying and a supply shock, potentially driving Bitcoin’s price and global adoption.
According to analyst Axel, Over the past month, Bitcoin has seen a decline in aggressive selling activity, signaling reduced seller pressure. Market analysts suggest this trend could lead to moderate price growth if no major macroeconomic disruptions arise. Data from the cumulative net taker volume indicates changing market dynamics, which could impact Bitcoin’s short-term price action.
BTC Selling Pressure Declines
Between February 24 and March 4, Bitcoin’s price plunged from around $95,000 to $77,000. During this time, the net taker volume remained predominantly negative, reflecting high selling pressure. Every sharp price drop coincided with sell-offs, as shown in the purple histogram bars. However, after March 4, Bitcoin’s price attempted a recovery, briefly touching $85,000 before facing renewed resistance.
From March 10 to March 14, Bitcoin dropped again to $78,000, accompanied by another surge in negative net taker volume. However, the trend changed after March 14, as Bitcoin began forming higher lows. The net taker volume displayed mixed activity, with intermittent bursts of green indicating short-term buying pressure. By March 24, Bitcoin rebounded to around $87,000, supported by stronger buyer engagement.
White House Considers Bitcoin Acquisition
According to Merlijn The Trader, the White House is considering using US gold reserves to buy Bitcoin. This action is in line with the Bitcoin Act of 2025, according to Bo Hines, executive director of the President’s Council of Advisers on Digital Assets. The Act, which was put up by Senator Cynthia Lummis, intends to purchase one million Bitcoin over a five-year period.
Source: Merlijn The Trader
This acquisition would involve selling Federal Reserve gold certificates to finance Bitcoin purchases. According to Hines, President Trump supports the initiative, emphasizing asset accumulation over restrictive policies. If executed, this strategy could significantly impact Bitcoin’s supply and price stability.
Market Reactions and Strategic Implications
Trump’s endorsement has renewed confidence in Bitcoin’s long-term potential. The policy shift could boost U.S. influence on Bitcoin’s market structure while stoking worldwide demand for the cryptocurrency. Moreover, if the U.S. moves forward with large-scale Bitcoin acquisitions, a supply shock could follow. Historically, such scarcity has driven substantial price appreciation. Besides, institutional investors may accelerate their Bitcoin accumulation, anticipating government-led market support.
