Crypto Daybook Americas: Bitcoin Reserve Fails to Rouse BTC Bulls as Jobs Data Looms

President Donald Trump's recent executive order to establish a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile has not provided the anticipated boost to Bitcoin prices. Instead, Bitcoin's value declined by over 2% following the announcement, echoing past market reactions to similar news, such as the approval of Bitcoin exchange-traded funds (ETFs) in January 2024, which initially led to a 20% drop before a subsequent rally. citeturn0search0

The reserve, dubbed the "Digital Fort Knox," aims to accumulate Bitcoin without incurring additional taxpayer costs. Strategies under consideration include selling U.S. gold reserves, liquidating other seized cryptocurrencies, or issuing Bitcoin-backed bonds. citeturn0search0

Investors are now turning their attention to upcoming U.S. jobs data, with non-farm payrolls expected to increase by 160,000 and the unemployment rate projected to hold at 4%. These figures could influence Federal Reserve policies and, consequently, the cryptocurrency market. citeturn0search0