Bitcoin trader eyes $78K BTC price retest as US seen delaying reserve

Quick Summary:

US Congressional support for a Bitcoin reserve is lacking, Senator Cynthia Lummis warns as BTC price momentum stalls.

Trader and analyst Rekt Capital hoped that the March 4 dip to $82,000 would mark a “higher low” and form a foundation for an ongoing recovery.

Despite holding some of its gains, BTC/USD was likely in for a rematch with 15-week lows of $78,000, fellow trader Justin Bennett warned.“I still think we see a sweep of the $78,260 low, especially after the rejection from $92k monthly resistance,” he told X followers on the day.

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Article Details

Author / Journalist: Cointelegraph by William Suberg

Category: Crypto

Markets: United States

Topics: Strategic March Trading Trader Reserve Lummis Congressional Support Crypto Cointelegraph Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-05 @ 16:29:51 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 488 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 26688971

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 240 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

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Publisher ID: #11

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