US Treasury Secretary Scott Bessent clarified that his department is still examining budget-neutral ways to buy Bitcoin for the Strategic Bitcoin Reserve. His statement came hours after earlier comments suggested otherwise, triggering a market sell-off.
In a post on X Thursday, Bessent said:
“Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world.’”
Bessent confirmed that Bitcoin forfeited to the federal government will serve as the reserve’s foundation. Concerns had grown that the slow pace of the reserve strategy could allow other nations to act first. Some observers feared the Treasury might not follow through on its buying plans.
Seven hours before the clarification, Bessent told FOX Business:
“We’ve also started to get into the 21st century, a Bitcoin reserve. We’re not going to be buying that, but we are going to use confiscated assets and continue to build that up.”
That remark erased $55 billion from Bitcoin’s market cap in about 40 minutes, with prices dropping from $121,073 to $118,886, according to CoinGecko. Despite the reversal, Bitcoin traded around $118,500 at press time.
Criticism Over Delayed Execution
The clarification reassured some holders, but others questioned the pace. Eli Nagar, CEO of Bitcoin mining firm Braiins, said on X:
“Are you seriously still ‘exploring budget-neutral pathways’? At some point, exploration without execution starts to look like avoidance.”
Max Keiser, adviser to El Salvador on Bitcoin policy, also criticized the prolonged use of “exploring.”
The Treasury has been discussing budget-neutral approaches for five months since Donald Trump signed an executive order on March 6. The order created both the Strategic Bitcoin Reserve and a Digital Asset Stockpile, starting with crypto seized in criminal cases. It also permitted additional Bitcoin purchases using strategies that do not impose costs on US taxpayers.
The Digital Asset Working Group’s recent report did not outline concrete execution steps. Ideas under consideration include revaluing gold certificates and using tariff revenue.
Congressional Approval May Be Needed
One reason for the delay may be the need for congressional approval to proceed. US Senator Cynthia Lummis urged lawmakers to review the BITCOIN Act, which she introduced in March, as a possible path forward.
Bessent also confirmed that the US does not plan to sell its existing Bitcoin holdings.
“We’re going to stop selling,”
he told FOX Business.
He estimated the Strategic Bitcoin Reserve’s current value at $15 billion to $20 billion. Data from BitBo’s Bitcoin Treasuries dashboard lists 198,012 BTC in US holdings, worth about $23.5 billion.
These figures align with previous reports that the holdings come primarily from seizures linked to criminal investigations.
Bitcoin ascending triangle on August 15 suggests a confirmed break could lift price seventeen percent to 139,312 USD
The chart prints an ascending triangle, with rising swing lows and a horizontal cap near one hundred twenty five thousand to one hundred twenty six thousand USD. An ascending triangle is a continuation pattern where buyers push higher lows into a flat resistance, signaling pressure that can release upward after a confirmed breakout. Price trades around 119,070 USD on the chart, with the fifty period exponential moving average (EMA) near 118,829 USD providing dynamic support.
The structure shows a clean rising trendline from late July that now meets price around 118,800 to 119,000 USD. Meanwhile, repeated rejections cluster just below one hundred twenty six thousand USD, which marks the horizontal barrier drawn on the image. Volume spikes appear on thrusts into that ceiling, then cool during pullbacks, which often accompanies triangles as energy builds. The EMA fifty tracks under price and keeps the series of higher lows intact, which helps define the bullish pressure.
If Bitcoin clears and closes above the horizontal cap with expanding volume on the four hour or the daily time frame, the triangle would be considered confirmed by classical chart rules. Using the user requested measurement, a confirmation would imply a seventeen percent advance from the current chart price of 119,070 USD toward approximately 139,312 USD. That destination sits close to the drawn extension line around 140,361 USD, which the chart marks as a potential objective area. Until a decisive close arrives, the market remains inside the pattern, and price can continue to coil between the rising trendline and the ceiling.
Support sits first at the rising trendline and the EMA fifty around 118,829 USD. Holding that zone keeps the sequence of higher lows visible and preserves the triangle’s shape. A firm rejection from resistance without follow through could send price back to retest that average and the trendline. However, each return to the ceiling since early August has formed on higher lows, which keeps pressure pointed at the resistance band near one hundred twenty five thousand to one hundred twenty six thousand USD and sets the stage for a validation attempt.
Bitcoin RSI reading shows room for upward momentum if breakout occurs
Chart date: August 15, 2025, Bitcoin United States dollar (BTC USD) four hour on Bitstamp. The chart displays the Relative Strength Index (RSI) with a 14-period setting, currently at 47.46, and its moving average line at 55.76.
The RSI, which measures price momentum on a scale from zero to one hundred, shows that Bitcoin sits below the neutral 50 level but above oversold territory at 30. This suggests momentum has cooled after recent swings but remains in a zone where it can recover if buying strength returns. The moving average line is still positioned above the RSI value, indicating that momentum is stabilizing rather than accelerating sharply at the moment.
Throughout July and August, the RSI repeatedly tested both the overbought area above 70 and oversold levels under 30, showing that volatility has remained elevated during this consolidation phase. The most recent dip in mid-August brought the RSI near oversold conditions before bouncing toward its current reading, matching the price rebound from the ascending trendline seen on the price chart.
If Bitcoin confirms a breakout from the ascending triangle pattern identified earlier, a move in the RSI above its moving average and toward 60–70 would align with a seventeen percent price advance toward the 139,312 USD target. Conversely, if price fails at the resistance zone, the RSI could retreat toward 30–35, signaling renewed selling pressure.
This positioning means Bitcoin still has headroom before hitting overbought levels, which technically allows for further upside if bullish confirmation arrives.
Bitcoin MACD shows weakening momentum but potential for renewed strength if resistance breaks
Chart date: August 15, 2025, Bitcoin United States dollar (BTC USD) four hour on Bitstamp. The Moving Average Convergence Divergence (MACD) indicator, using the standard 12, 26, close settings, shows the MACD line (blue) at 67, the signal line (orange) at 451, and the histogram at –383.
The MACD compares two exponential moving averages — the twelve-period and the twenty-six-period. It tracks trend momentum and signals potential shifts. Right now, the MACD line has crossed below the signal line. This points to short-term bearish momentum. The histogram is negative, showing that downward momentum is active.
This crossover came after strong bullish momentum in early August. At that time, the MACD line stayed above the signal line. The histogram bars were green, confirming buying strength. Since then, price movement near the ascending triangle support has weakened. That drop pulled the indicator lower. The histogram slope now shows momentum is cooling. It is not accelerating sharply downwards. This often happens when the market consolidates.
For the ascending triangle setup, a reversal in the MACD would be bullish. This means the blue line would turn up and cross above the orange line. Such a move would support a breakout toward 139,312 USD. It would likely need strong buying volume. Price must clear the 125,000–126,000 USD resistance zone for confirmation.
If the MACD keeps falling, the negative spread could widen. That would suggest sellers are regaining control. The MACD is still near the zero line. This shows Bitcoin is in a balance zone. Momentum can shift quickly here. Price action at the triangle’s key resistance will likely decide the next move.
