US Strategic Bitcoin Reserve Uncertainty, New Google Wallet Rules
The US government’s Strategic Bitcoin Reserve remains stalled amid conflicting statements from Treasury Secretary Scott Bessent and the President’s Working Group on Digital Assets. Despite holding $15–20 billion in BTC from seizures and forfeitures, the Strategic Bitcoin Reserve will not grow through direct government purchases, Bessent ruled, although he vowed to stop selling existing holdings and explore budget-neutral paths. Meanwhile, Google’s revised digital wallet rules force US wallet apps on Google Play to register with FinCEN and state regulators, triggering DeFi backlash until non-custodial wallets were clarified as exempt. Market reactions were mixed: BTC surged to a record $124,128 on rumors of government buying, then dipped below $118,000 after inflation data and policy clarifications. Other key developments include Bullish Global’s $1.1 billion IPO, Justin Sun’s lawsuit against Bloomberg over private asset disclosures, Trump-linked WLFI token gaining tradability, and industry efforts to block bank data access fees. Traders should prepare for regulatory-driven volatility amid this evolving crypto landscape.
Neutral
The net effect of these developments is neutral. Disappointment over the Strategic Bitcoin Reserve not expanding through government purchases removes a potential bullish catalyst, while the Treasury’s halt on sales offers some support. Similarly, initial concerns around restrictive Google digital wallet rules were alleviated by exemptions for non-custodial wallets, mitigating broader regulatory risk. Historically, crypto markets often rebound from similar regulatory uncertainties once clarifications emerge. For example, past SEC guidance reversals led to transient dips followed by recoveries. Traders should expect short-term volatility around policy announcements and headline-driven price swings, but the medium- to long-term outlook depends on concrete regulatory actions and adoption trends rather than preliminary statements. Overall, these mixed signals are likely to maintain a neutral market stance as participants await further clarity.