Countdown Has Started: This Event Will Be Followed Next Week in Bitcoin! How Will It Affect BTC Price? Analysis Company Explained!

US President Donald Trump signed an executive order (SBR) on March 6, providing for the creation of a national Strategic Bitcoin (BTC) Reserve.

It was stated that this reserve will include approximately 200,000 BTC held by the federal government and confiscated within the scope of criminal or legal proceedings.

With this executive order, Trump also instructed Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to explore ways to purchase additional Bitcoin as long as it does not impose an additional cost on American taxpayers.

While the report by Bessent and Lutnick is expected to arrive on May 5, the analyst firm said the upcoming deadline for the Strategic Bitcoin Reserve is the most important event to watch next week.

At this point, K33 Research analysts Vetle Lunde and David Zimmerman said that Bitcoin looks strong ahead of the deadline for the US Treasury Department’s assessment of the Strategic Bitcoin Reserve.

Noting that there is very little discussion among the public on the subject with only a short time left until the deadline, analysts said that conversations will increase in the coming days and could move the price.

“We are not aware of any concrete details regarding budget-neutral methods of purchasing Bitcoin.

Additionally, to our knowledge, no official announcements are currently planned regarding the progress of SBR.

“However, given the rapidly approaching deadline, we expect public discussions on the issue to take place soon. This could further boost BTC’s recent promising momentum and push the price upwards.”

Analysts recently noted that negative weekly funding rates on BTC/USDT on Binance also supported the Bitcoin rally.

“Sustained negative funding is rare, occurring only four times since January 2023, typically occurring during times of high uncertainty. Historically, these environments have preceded strong rallies, particularly after January 2023,” the analysts wrote, hinting at a potential rally for BTC.

*This is not investment advice.