{"id":6473,"date":"2025-03-08T19:34:48","date_gmt":"2025-03-08T19:34:48","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=6473"},"modified":"2025-03-08T19:34:51","modified_gmt":"2025-03-08T19:34:51","slug":"why-did-bitcoin-drop-after-the-us-btc-reserve-launch-scott-melker-breaks-it-down","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/03\/08\/why-did-bitcoin-drop-after-the-us-btc-reserve-launch-scott-melker-breaks-it-down\/","title":{"rendered":"Why Did Bitcoin Drop After the US BTC Reserve Launch? Scott Melker Breaks It Down"},"content":{"rendered":"\n

On March 7, 2025<\/strong>, crypto investor and Wolf of All Streets<\/strong> podcast host Scott Melker<\/strong> dedicated a significant portion of his Wolf Den newsletter<\/strong> to discussing the implications of the U.S. Strategic Bitcoin Reserve (SBR)<\/strong> launch. Later that day, he expanded on the topic via X (formerly Twitter),<\/strong> explaining the importance of the event and why the market reaction led to an unexpected price drop.<\/p>\n\n\n\n

The U.S. Strategic Bitcoin Reserve Creation<\/strong><\/h3>\n\n\n\n

The idea of a U.S. Bitcoin stockpile<\/strong> was first introduced by Donald Trump<\/strong> in 2024<\/strong> at the Nashville Bitcoin Conference<\/strong>. Around the same time, Senator Cynthia Lummis<\/strong> proposed a bill advocating for the U.S. to acquire one million BTC over five years<\/strong>.<\/p>\n\n\n\n

Many in the crypto community expected Trump to sign the Bitcoin Reserve creation order<\/strong> immediately after his inauguration in 2025<\/strong>. Instead, no mention of crypto was made in his inauguration speech<\/strong>\u2014though he did pardon Ross Ulbricht<\/strong>, fulfilling a campaign promise. The official confirmation<\/strong> of the Bitcoin Reserve came later, with Sen. Lummis joining the Senate Banking Subcommittee on Digital Assets<\/strong> as chair.<\/p>\n\n\n\n

On March 6, 2025<\/strong>, Trump signed an executive order<\/strong> establishing the Strategic Bitcoin Reserve<\/strong>, though its structure differed from Lummis\u2019 original proposal<\/strong>. Rather than purchasing Bitcoin, the reserve consists solely of seized BTC from criminal forfeitures<\/strong>. This approach ensures the reserve grows without taxpayer funding<\/strong>, though alternative acquisition strategies<\/strong> may be explored.<\/p>\n\n\n\n

“I have a few budget-neutral strategies for acquiring additional bitcoin\u2026” \u2014 Michael Saylor (@saylor), March 7, 2025<\/strong><\/p>\n\n\n\n

Currently, the U.S. government holds approximately 200,000 BTC<\/strong>, though an audit is underway to determine the exact amount. The executive order also established a Digital Assets Stockpile<\/strong>, which includes ETH, ADA, SOL, and XRP<\/strong>. However, some have raised concerns about potential conflicts of interest<\/strong>, alleging that White House crypto czar David Sacks<\/strong> could indirectly profit from the initiative\u2014an accusation Sacks has denied.<\/p>\n\n\n\n

The Price Drop Explained<\/strong><\/h3>\n\n\n\n

The launch of the Strategic Bitcoin Reserve<\/strong> initially triggered optimism<\/strong> within the crypto community, but Bitcoin’s price unexpectedly dropped by $5,000<\/strong> following the announcement. Many had anticipated that the reserve creation would act as a bullish catalyst<\/strong>, leading to large BTC purchases.<\/p>\n\n\n\n

Scott Melker believes the market downturn stemmed from misplaced expectations<\/strong>:<\/p>\n\n\n\n

“Most people who claim to be in Bitcoin for the fundamentals really just care about number go up. The U.S. locking up BTC as a store of value is massive long-term validation\u2014but because it\u2019s not an instant pump, traders overreact.” \u2014 Scott Melker (@scottmelker), March 7, 2025<\/strong><\/p>\n\n\n\n

Melker emphasized that while the U.S. isn\u2019t currently buying Bitcoin<\/strong>, the fact that it recognizes BTC as a strategic asset<\/strong> is significant. He argues that other countries will likely follow suit<\/strong>, setting the stage for a global Bitcoin race<\/strong>\u2014a long-term bullish signal.<\/p>\n\n\n\n

Furthermore, Melker pointed out that Bitcoin\u2019s price action followed a common pattern in illiquid markets<\/strong>:<\/p>\n\n\n\n

“When big news drops into an illiquid market, leverage flushes out weak hands. Then, the bigger investors step in and move the price up.”<\/p>\n\n\n\n

As expected, Bitcoin rebounded shortly after the initial drop<\/strong>, reinforcing Melker\u2019s view that the SBR launch will create upward price pressure in the long run<\/strong>.<\/p>\n\n\n\n

Diverse Reactions Across the Crypto Community<\/strong><\/h3>\n\n\n\n

The unveiling of the Strategic Bitcoin Reserve<\/strong> sparked mixed reactions. Some were disappointed<\/strong> that the U.S. government wasn\u2019t actively purchasing BTC<\/strong>, while others saw little difference<\/strong> between the Department of Justice holding seized Bitcoin<\/strong> and the U.S. Treasury managing the SBR<\/strong>.<\/p>\n\n\n\n

Melker pushed back against the criticism<\/strong>, reminding skeptics that the executive order doesn\u2019t preclude future BTC acquisitions<\/strong>:<\/p>\n\n\n\n

“If you think the Bitcoin SBR is bad news because it will only contain seized bitcoin, then you are bad at reading and worse at comprehending what you are reading. Sell me your Bitcoin.” \u2014 Scott Melker (@scottmelker), March 7, 2025<\/strong><\/p>\n\n\n\n

Meanwhile, Bitwise Invest\u2019s Jeff Park<\/strong> dismissed the order, calling it a pump-and-dump distraction<\/strong>:<\/p>\n\n\n\n

“I\u2019m honestly just glad we can get this pump-and-dump chapter finally over with and move on to the things that actually matter: tax policies, 10-year interest rates, and Bitcoin-backed stablecoins.” \u2014 Jeff Park (@dgt10011), March 7, 2025<\/strong><\/p>\n\n\n\n

Despite the skepticism, many Bitcoin bulls praised the executive order<\/strong>. Senator Cynthia Lummis<\/strong> expressed full support<\/strong>, though she noted Congress\u2019s lack of involvement in the decision<\/strong>:<\/p>\n\n\n\n

“This is only the \u20bfeginning.” \u2014 Senator Cynthia Lummis (@SenLummis), March 7, 2025<\/strong><\/p>\n\n\n\n

Additionally, Bitcoin Therapist<\/strong>, a well-known BTC supporter, called the announcement \u201cthe most bullish news in four years\u201d<\/strong>:<\/p>\n\n\n\n

“GM. THE UNITED STATES IS GOING TO BUY BITCOIN. THIS IS A FACT. READ THE FINE PRINT. ANYONE WHO SAYS DIFFERENTLY IS BEING DISINGENUOUS. THIS IS THE MOST BULLISH NEWS I\u2019VE SEEN IN PAST 4 YEARS. THE ENTIRE WORLD IS NOW ON HIGH ALERT. BITCOIN TREASURIES ARE COMING.” \u2014 Bitcoin Therapist (@TheBTCTherapist), March 7, 2025<\/strong><\/p>\n\n\n\n

A Long-Term Bullish Development<\/strong><\/h3>\n\n\n\n

While Bitcoin\u2019s immediate price drop surprised many<\/strong>, Scott Melker and other analysts argue that the Strategic Bitcoin Reserve is a long-term positive for BTC<\/strong>. The U.S. government\u2019s recognition of Bitcoin as a strategic asset<\/strong> paves the way for broader institutional adoption and may trigger a global Bitcoin reserve race<\/strong>.<\/p>\n\n\n\n

As the U.S. audits its Bitcoin holdings<\/strong> and explores budget-neutral acquisition strategies<\/strong>, it remains to be seen whether the Strategic Bitcoin Reserve will evolve into a direct investment strategy<\/strong>. In the meantime, the crypto industry will closely monitor how other nations respond<\/strong>\u2014and whether they too will begin accumulating Bitcoin as a strategic reserve asset<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

On March 7, 2025, crypto investor and Wolf of All Streets podcast host Scott Melker dedicated a significant portion of his Wolf Den newsletter to discussing the implications of the U.S. Strategic Bitcoin Reserve (SBR) launch. Later that day, he expanded on the topic via X (formerly Twitter), explaining the importance of the event and…<\/p>\n","protected":false},"author":3,"featured_media":6480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[69,436,411],"class_list":["post-6473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitcoin","tag-budget","tag-global"],"yoast_head":"\nWhy Did Bitcoin Drop After the US BTC Reserve Launch? 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