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Republican Senator proposed to buy more Bitcoin by selling The Fed’s gold

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U.S. Senator Cynthia Lummis proposed a Bitcoin national strategic reserve by selling some of The Federal Reserve’s gold, rather than buying from government budget.

Cynthia Lummis, a Republican Senator, plans to push President-elect Donald Trump’s masterplan for Bitcoin into reality. Lummis has mentioned, in an interview with Bloomberg, that some of The Federal Reserve’s gold could be sold to buy more Bitcoin, rather than buying from the federal government budget.

“We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis said.

Following her bill, the biggest cryptocurrency by market capitalization would be held for no less than two decades. The appreciation in value would help to reduce the national debt, which is approximately counted as much as $36 trillion.

However, the Trump administration also aims to maintain 200.000 Bitcoin ownership. Mostly, all the crypto owned by the U.S. government is a seizure asset from several court cases.

On Polymarket, the world’s largest prediction market, the crypto community lacks confidence in Trump’s plan as the poll shows only a 30% chance.

Nevertheless, the U.S. Congress has seen a massive number of pro-crypto legislators win the seats, which indicates that the crypto bill would easily be passed in the future.

Trump pledges to Bitcoin community

President-elect Donald Trump once ever pledged to the crypto community to create a Bitcoin strategic national reserve in the latest conference in Nashville. He also mentioned that the United States will be the crypto capital in the world as he takes an oath of office in mid-January.

Trump also mentioned he would fire Chairman of the Securities and Exchange Commission (SEC) Gary Gensler on his first day in office. At that time, he will nominate another person as a chairman who is more friendly to digital asset

He also vows to the crypto community to pardon Silk Road founder Ross Ulbricht who is serving 40 years in jail without possibility of parole.

Recently, the price movement has surged almost 12% in the last 7 days, and traded $89.632 on Nov. 18. The biggest cryptocurrency in the world also achieved new all-time high prices up to $93.477 on Nov. 13. The market capitalization also raised to $1,7 trillion.

Republican Senator proposed to buy more Bitcoin by selling The Fed's gold - 1
1 Day BTC price chart, August 2 – November 18, 2024 | Source: crypto.news

Following Trump’s victory in the U.S. election on Nov. 5 which boost the crypto market’s confidence for better regulation and massive adoptions.



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Net Taker Volume on Binance Hits Yearly High Amid Bitcoin Price Consolidation

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Bitcoin continues to trade just below the $84,000 mark, reflecting a broader slowdown in upward momentum. Despite attempts to reclaim higher levels, the cryptocurrency has remained under the $90,000 mark for over two weeks.

This current range-bound activity comes nearly two months after Bitcoin touched its all-time high in January, indicating a period of uncertainty as traders assess macroeconomic conditions and upcoming Federal Reserve policy decisions.

In the midst of the stagnation from BTC’s price, on-chain data is offering contrasting signals on where the market might be headed next. Analysts have pointed to fluctuations in buying and selling pressure on major exchanges, particularly Binance, as key indicators of short-term market sentiment.

Surge in Binance Net Taker Volume

CryptoQuant analyst Darkfost recently highlighted a notable spike in net taker volume on Binance, the world’s largest centralized crypto exchange. According to Darkfost, net taker volume surged by $467 million in a single hour—marking the highest level recorded in 2025 so far.

This metric, which measures the difference between aggressive market buys and sells, is often used to gauge the immediate sentiment of active traders. A positive value indicates stronger buying activity and has historically signaled short-term bullishness.

Bitcoin net taker volume.

Darkfost emphasized that this uptick in taker volume occurred just prior to the recent FOMC meeting, suggesting that some traders may be positioning for favorable policy outcomes.

While the data only reflects an hourly time frame and may not imply long-term directional change, the movement could signal a broader shift in sentiment among active participants, especially given Binance’s influential position in global crypto markets.

Bitcoin Whale Activity Returns as Exchange Ratios Spike

Meanwhile, another CryptoQuant analyst, EgyHash, provided a more cautious interpretation of recent activity. According to his analysis, the Bitcoin Exchange Whale Ratio—defined as the share of total exchange inflows coming from the top 10 largest addresses—has surged to its highest point in over a year.

Bitcoin Exchange Whale Ratio.

This ratio is closely monitored because spikes often precede increased selling pressure, especially when large holders move funds to exchanges. While not a definitive indicator of immediate liquidation, the rise in whale-driven deposits suggests that some major players may be preparing for reallocation or profit-taking.

Combined with stagnant price action, this metric implies that Bitcoin’s current price level may be approaching a decision point, where the market direction will be determined by the balance between new demand and potential supply from large holders.

Bitcoin (BTC) price chart on TradingView

Featured image created with DALL-E, Chart from TradingView





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Bitcoin Primed for Major Moves As Macroeconomic Conditions Ease, Says Analyst Jamie Coutts – Here’s His Outlook

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Real Vision’s chief crypto analyst says that Bitcoin (BTC) may soon print a series of rallies as macroeconomic conditions could ease later this year.

In a new thread, crypto strategist Jamie Coutts tells his 37,300 followers on the social media platform X that market liquidity is expected to increase in the second half of 2025, which may pump Bitcoin.

“The bottom line, though, is that if Bitcoin can rally through the worst liquidity withdrawal in decades, it’s primed for more significant moves as conditions ease through the rest of the year. Watch the blue line [Base Money Liquidity to Debt Ratio] begin to tick higher in 2H (second half) of the year.”

Image
Source: Jamie Coutts/X

In addition to predicting money supply will increase faster than US debt, he also predicts that Bitcoin adoption will increase among US banks and sovereign wealth funds, helping to increase the value of the flagship crypto asset.

“More likely, base money outpaces government debt growth. What happens if base money expands faster than U.S. debt growth? In some reality, that might steady the ship and dampen the fear fueling Bitcoin adoption. But, in my view, that only hits the margins.

Meanwhile, deeper Bitcoin integration at both sovereign and banking levels is inevitable. Ultimately, US structural deficits are not changing. The US government will need to find new and inventive ways to ensure there is a bid for their debt.”

Bitcoin is trading for $84,090 at time of writing, flat on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Is Bitcoin Price Bottom In? Key Metrics Show rally Is Likely

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Bitcoin (BTC) price volatility is slowing down as the coin’s capitulation continues. At the time of writing, Bitcoin’s price was changing hands for $84,278.83 as it pared off the losses accrued in earlier trading. At this pace, the question now hinges on whether BTC can form sustainable support at the $84,000 price mark or whether further drawdown lies ahead.

Core Bitcoin Price Metric to Watch

According to Glassnode data, BTC Short-Term Holders (STH) are under increasing pressure. This group’s unrealized losses have surged, pushing many STH coins into losses. As revealed, their holdings are now nearing the two-standard deviation threshold. 

Despite this outlook, the data platform hinted that losses remain within historical bull market bounds. Specifically, it noted that these losses are less severe than the May 2021 sell-off from the all-time high. Glassnode said the rolling 30-day losses for STH have topped $7 billion. It confirmed that “this remains well below prior capitulation events, such as the $19.8B and $20.7B losses in 2021-22.”

BTC price jumped to an ATH above $109,000 in January but has since dropped by 22.79%. While experts predicted a drop of over 35%, the limited loss from holders can form a good rebound basis.

BTC Price Bottom In, Here Are Triggers for Rally

Over the past week, Bitcoin has rallied within very tight price ranges, from a low of $81,300 to a high of $87,320. Some market observers believe the coin has attained its floor price and might be set for a rebound.

While firms like Strategy have kept Bitcoin purchase plans alive with Strife’s perpetual stock offering, the Global Money Supply M2 also lays a positive basis for growth. With the current outlook, the projection that the $83,00 level is the BTC price floor is resounding among analysts.

The shift in regulation and the backing of Bitcoin by President Donald Trump creates a tailwind for the coin’s proponents. At the Digital Asset Summit earlier this week, President Trump reiterated the plan to make the US the crypto capital of the world.

Several government agencies have shifted their policies in this regard, which might attract investors in the long term.

How High Can Bitcoin Valuation Rise?

Despite the slowdown in growth in recent weeks, many market leaders are still confident in the coin’s prospects. As reported earlier by CoinGape, Bitwise CIO Matt Hougan maintained the price target of $1 million by 2029. He cited a longer-term reaction to macroeconomic uncertainties as the basis for his prediction.

While this Bitcoin price prediction appears lofty, others believe Bitcoin may cross $200,000 once the bull rally returns. With spot Bitcoin ETF hype and other growing institutional adoption, BTC price has an arguably bright future.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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