Bitcoin, after updating its all-time high, then declined sharply during U.S. trading, holding near the 117,100 level, below which it must not fall, as that would significantly harm the ongoing bullish cycle. Ethereum also experienced a notable correction.

Yesterday's statement by U.S. Treasury Secretary Scott Bessent that the U.S. is exploring ways to acquire Bitcoin to expand its strategic reserve supported Bitcoin, preventing another wave of sell-offs. "The Treasury is studying budget-neutral strategies to purchase BTC for the reserve," Bessent said.

This statement is undoubtedly a significant event for the cryptocurrency market. For a long time, there have been rumors about possible interest from large institutional investors, including governments, in Bitcoin as a potential reserve asset. Confirmation from the U.S. Treasury Secretary, even in the form of exploring possibilities, indicates that the issue is being seriously considered at the highest level. It is important to note that Bessent emphasized budget-neutral strategies.

This suggests that the plan is not to simply allocate funds from the budget to buy BTC. Mechanisms are likely being considered that would allow the acquisition of cryptocurrency without significantly affecting the country's fiscal policy. Possible options could include using confiscated assets, converting them into Bitcoin, or issuing new financial instruments backed by BTC.

In any case, the impact of this news on Bitcoin was positive. The price stabilized after the sharp drop, and trading volumes increased. However, the long-term effect will depend on the Treasury's next steps. If a decision is made to acquire BTC for reserves, this could be a powerful signal for other countries and institutional investors, leading to further demand growth and strengthening Bitcoin's position as a legitimate asset.

As for the intraday cryptocurrency market strategy, I will continue to act based on any significant pullbacks in Bitcoin and Ethereum, expecting the medium-term bullish market to persist.

Regarding short-term trading, the strategy and conditions are described below.

Bitcoin

Buy Scenario

Scenario #1: Today, I plan to buy Bitcoin at an entry point around 119,600 with a target of rising to 121,100. Around 121,100, I will exit purchases and sell immediately on the rebound. Before buying on a breakout, ensure that the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario #2: Buying is also possible from the lower boundary of 118,600 if there is no market reaction to a breakout, aiming for 119,600 and 121,100.

Sell Scenario

Scenario #1: Today, I plan to sell Bitcoin at an entry point around 118,600 with a target of falling to 117,200. Around 117,200, I will exit sales and buy immediately on the rebound. Before selling on a breakout, ensure that the 50-day moving average is above the current price and the Awesome Oscillator is below zero.

Scenario #2: Selling is also possible from the upper boundary of 116,600 if there is no market reaction to a breakout, aiming for 118,600 and 117,200.

Ethereum

Buy Scenario

Scenario #1: Today, I plan to buy Ethereum at an entry point around 4,654 with a target of rising to 4,752. Around 4,752, I will exit purchases and sell immediately on the rebound. Before buying on a breakout, ensure that the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario #2: Buying is also possible from the lower boundary of 4,600 if there is no market reaction to a breakout, aiming for 4,654 and 4,752.

Sell Scenario

Scenario #1: Today, I plan to sell Ethereum at an entry point around 4,600 with a target of falling to 4,502. Around 4,502, I will exit sales and buy immediately on the rebound. Before selling on a breakout, ensure that the 50-day moving average is above the current price and the Awesome Oscillator is below zero.

Scenario #2: Selling is also possible from the upper boundary of 4,654 if there is no market reaction to a breakout, aiming for 4,600 and 4,502.