Bitcoin Price Eyes $119K as US Treasury Buys 28,000 BTC in Two Days
Bitcoin quickly shrugged off concerns from a hawkish Federal Reserve meeting as news emerged of a potential US strategic Bitcoin reserve. The market sentiment shifted almost instantly, with traders focusing on the possibility of large-scale institutional adoption.
The US Treasury reportedly purchased 28,000 BTC over just two days, fueling speculation that the government may be building a long-term reserve. This move comes amid growing discussions about Bitcoin’s role in national financial strategies.
Analysts now predict Bitcoin could retest the $119,000 level, a key psychological and technical target. The rapid accumulation of BTC by institutional players suggests strong confidence in the asset’s future value.
Despite the Fed’s cautious stance on interest rates, Bitcoin’s price action remained resilient. The prospect of government-backed demand has overshadowed macroeconomic uncertainties, at least for now.
If the trend continues, Bitcoin could see further upward momentum as supply tightens. With major buyers entering the market, the next few weeks may bring significant price movements.
