Bitcoin rebounds 4% as markets shake off disappointment over US Strategic Bitcoin Reserve

Bitcoin (BTC) saw a 4% increase on Mar, 7 despite initial disappointment over the US Strategic Bitcoin Reserve. Data from Cointelegraph Markets Pro and TradingView indicated BTC/USD recovering from lows of $84,713 on Bitstamp. The Reserve will only consist of confiscated coins, not new BTC, as part of a strategy to maximize the value of the government's holdings. President Trump signed an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile. Market reactions were mixed, with some seeing the news as a disappointment while others remained bullish on Bitcoin's future.